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[heydude6]

Eli Lilly has lost some $16bn of stock value today after a "verified" parody account mimicking them said that they'd be offering insulin for free now.


The absolute meme of this situation, I swear to fuck.

Congrats. Elon Musk has just opened himself up to a lawsuit. That's what we call measurable damage.

[nenjin]

That's immediately what I thought. His lack of control over what's getting posted has resulted in direct, tangible monetary damage.

I wouldn't be surprised at this point if shuts down Twitter for a couple weeks to get their ducks in a row, and does a mass ban/deletion of tweets to cover his ass.

[hector13]

They suspended the verification thing recently so I imagine that was a significant push toward that.

Like I don’t really understand why you have an idea and then implement it when you haven’t ironed out issues like fake accounts being able to subscribe and impersonate someone first.

I thought Musk was meant to be good at this business thing.

[pisskop]

It's got to be a lot of stress getting to him.

He isnt dumb, and he clearly didnt think this out.  It was obvious back when he first made his bid that he didnt.

I think people should pay for their checkmarks based on how many subscribers they have.  They should have to verify their identity, and there shouldnt be multiple duplicate business accounts.


It was never going to be easy for him, even if he did make it happen as he portrayed it.  He was always going to cut off advertisers, for instance.  The free speech thing was going to gutpunch people at first, as he reorganized moderation policies.

But he's done things that only compound existing problems, like fire staff based solely on total lines of code written.

[Lord Shonus]

He isnt dumb

[citation needed]

Elon Musk is a dumbass that managed to turn an inherited emerald mine and well-timed buy in to Big Tech successes (he did not start PayPal, Tesla, or SpaceX) into an undeserved reputation as a genius. 

Eli Lilly has lost some $16bn of stock value today after a "verified" parody account mimicking them said that they'd be offering insulin for free now.


The absolute meme of this situation, I swear to fuck.

There's a similar situation with Lockheed Martin, where a "verified" account claiming to be them declared a boycott on arms sales.

[King Zultan]

Damn this whole thing has been the most entertaining dumpster fire I've seen in a quite a while.

[scriver]

He isnt dumb

[citation needed]

Elon Musk is a dumbass that managed to turn an inherited emerald mine and well-timed buy in to Big Tech successes (he did not start PayPal, Tesla, or SpaceX) into an undeserved reputation as a genius. 

As far as I know that emerald mine thing has been completely overblown. It looks more like a money laundering scheme or maybe a prestige ownership thing of his father's to me.

[None]

Apparently I'm ten pounds lighter when I don't have a belly full of beer + burrito and then skip a meal or two by accident. That, or I misread the scale the first go around.

[Kagus]

Eli Lilly has lost some $16bn of stock value today after a "verified" parody account mimicking them said that they'd be offering insulin for free now.


The absolute meme of this situation, I swear to fuck.

There's a similar situation with Lockheed Martin, where a "verified" account claiming to be them declared a boycott on arms sales.

Which has since led to an even greater drop in stock price than with Lilly.

Cin cin, LockheedMartini... You magnificent bastard.

[TamerVirus]

Damn this whole thing has been the most entertaining dumpster fire I've seen in a quite a while.

You should look at the massive implosion of the FTX crypto exchange! These was an exchange that had ads during middle of the Super Bowl and had garnered a lot of clout! The CEO was worth about 16 billion dollars on Monday and was worth 0 by Friday and apparently fled the country to Argentina. A lot of people got burned…again…

[pisskop]

Fun Fact, almost every advertiser from the Superbowl is down from their prices then.  Not just 'down', but like a dozen or so are down by more than 3/4s

[King Zultan]

I still don't see what all the hype is about crypto is, it has always seemed like a scam to me.

[pisskop]

There's a lot of things crypto could be.  Empathis on could.  Crypto was everything a 4chan girl dreams of on the internet.

It was hyped.  it was new, unregulated, and people were well paid to hype it up.  It was speculative; there was no potential top to it.  Bitcoin buyers who got in at less that $100 could have sold the top at over $60k. Countries adopted it, it was bannable in places like china.  There was a lot of price action, and it was cheap to get into the hundreds of cheap coins.  Coins like cumrocket and dogecoin all had meme followings.

It promised security and anonymity.  Blockchain was supposed to make everything untraceable.  You could be assured private transactions, and potentially even illicit ones.

As governments regulated it, business owners like Elon Musk started endorsing and accepting it as tender; it gained legitimacy.  The old guard was generally thought to dislike it, and what's cooler than something that can make you rich and is disliked by boomers?

ultimately, I would like to see a USDcoin.  Something officially sanctioned and pegged.  A digital moneybuck.  We made the move to credit cards, and a pegged dollar coin allows for more convenience.

[NJW2000]

There are niche uses for stuff like crypto and NFTs, but the current value of all the NFTS and coins out there is probably several orders of magnitude greater than that warrants.

That's why it's really funny to see a non-stupid true believer in NFTs or bitcoin who knows it's insanely overvalued get on the radio to talk about the crypto winter. Because they know it's a goddamn bubble, but they're so interested in what crypto could be that they forget that the bubble is the only thing most people are aware of or care about. So they say things like, "Yes, the price fell a great deal, but that's actually a good thing, because it shows the market is maturing".

[pisskop]

Some old Boomer doing Boomer stuff

I could never climb a ladder like this.  I find the technical skillset this man has amazing.