Twitter as it stands post Musk is a disaster, though. Revenue has dropped off significantly. How is that a success?
Not to mention the absurdity of comparing something like Twitter to the federal government. It shows the staggering arrogance and ignorance of people in tech who think that.
The companies EBITDA is nearly double from when he purchased it so although revenue is down the company is making more money than before due to efficiencies. It’s probably worth about what he paid for it today. If advertisers come back, which I can see occurring with the huge cultural shift, it will certainly be worth well more than what he paid.
So why did the bankers that finance the loan write it down by nearly 80%? They have access to all the financial data and yet decided to take a major loss on their loan due to?
From what it appears, Late 2024, Fidelity wrote down their loans by 79% [1] and then sold it early 2025 for 97 cents on the dollar (of the reduced value) [2].
I really struggle to believe that the banks are just taking this massive loss by mistake and that the value is actually still there.
Fidelity was not part of the banks that sold their loans. Also it was a partial sale. The banks that sold their loans at just under their original valuation and profited, apparently. Original source reuters: https://www.reuters.com/business/finance/banks-sell-down-55-...
> At 97 cents, it is likely they sold at a profit, he added.
I would guess that the 3 cents loss on the loan value still results in profit due to payments which amounted to more than 3 cents + loan expenses.
I don't agree with parent that xitter is worth what he paid for it, far from it. EBIDTA isn't the whole story. But things do look better than a few months ago. So far I haven't seen a viable contender for a xitter replacement. I can't believe I'm saying this but I'm actually rooting for Threads.
Not to mention the absurdity of comparing something like Twitter to the federal government. It shows the staggering arrogance and ignorance of people in tech who think that.