Wednesday, January 04, 2023

Uber, But For Angel Investors

At least houses were built in the great financial crisis.

The most obvious example of tech’s quagmire, of course, is Twitter. From his overinflated bid to buy the company for a price that doubled as a weed joke to his catastrophic tenure as CEO, Elon Musk and his tortured dalliance with the social network was the most-watched tech saga of the year. By November, Musk had slashed half the staff and reinstated some of the site’s most controversial banned users, including the neo-Nazi Andrew Anglin and former President Donald Trump. He used his new perch to promote right-wing conspiracies, to mock nonbinary people and Anthony Fauci, and to suspend journalists. Advertisers balked and paused spending on the platform. Prominent users sent farewell tweets. Now, at the end of the year, amid lawsuits, potential Federal Trade Commission and European Union law violations, a shriveled staff, and a mounting pile of unpaid bills, Twitter’s future is very much in question.
I don't even know how twitter or even tesla are "tech" in the year of our gritty, 2023. This is more about a culture of rich assholes being assholes.