If you remember, he paid $44B for a company valued at about $20B, and since then, the valuation has dropped by as much as $15B according to some, while others are (IMO) a little over-anxious to boost the company, thinking (again, IMO) it might be ripe for a big comeback.
NOTE: Fidelity helped put Elmo's financing together so he could buy the thing last fall.
Gee, I wonder if that has anything to do with their decision to pimp it up a little.
But the main problem being reported is that ad revenues continue to lag badly - because companies want to avoid the potential for brand damage due to their names appearing next to some seriously slimy posts on a platform becoming quite well-known for slime, and dis-infobots, and racism, and Nazis, and hosts of other monsters of the id.
Case in point:
We can't continue with an overarching policy of Profit Over Principle, and expect a nice happy ending. It's never worked out like that. Ever.
- People, then Policy
- Labor, then Capital
- Principle, then Profit
Call it a Business School version of Popper's Paradox: Allowing an anything-goes fully-laissez-faire management philosophy because "Profit Is King" can lead to the extinction of profit.
I think maybe Elmo is illustrating that for us now.
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