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Joined 3 months ago
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Cake day: November 8th, 2024

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  • shutting out a significant portion of your community without seeking their input first isn’t a sensible move for such a foundational open source project.

    Ironic when X shuts out anyone who isn’t logged in and shuts out anyone who doesn’t pay for a blue checkmark from having visible replies.

    Having an X account isn’t consequence-free - if it becomes where updates occur, people have to sign up for an account and subject themselves to nazis everywhere and all manner of crypto spam just to see updates. And they have to pay Elon tribute to be heard in response. It’s crazy that anyone sees it as being friendly to users.









  • I think he’s sugar-coating it because their bonds are about to go up for sale. From the article:

    While equity investors have reportedly slashed the value of their stakes by as much as 78 percent, the Journal reports, “banks hope to sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings.”

    If they were breaking even, the bonds wouldn’t be getting sold at a loss. Keep in mind, the bond holders get paid before the stock holding investors, so if they’re taking a loss, the equity investors are getting nothing (hence the 78 percent cut, basically their share is only worth the odds of a miraculous turnaround). That doesn’t happen with a company unless it’s losing money.