1/29
THREAD.
A billionaire has been making a string of business decisions. And it's making me think.
A billionaire has been making a string of business decisions. And it's making me think.
08:16 PM - Jul 24, 2023
2/29
He partnered with the Saudi royal family, a brutal authoritarian regime. You may know them for their recent brutal dismemberment of an American journalist, or their fun professional golf league that just merged with the PGA. You know. Lite stuff.
08:18 PM - Jul 24, 2023
3/29
He partnered with the brutal authoritarian regime to purchase a social media site.
Smart people said it was one of the dumbest business decisions in history. He immediately lost tens of billions of dollars. Immediately. Experts couldn't see how he would ever recoup those losses.
Smart people said it was one of the dumbest business decisions in history. He immediately lost tens of billions of dollars. Immediately. Experts couldn't see how he would ever recoup those losses.
08:18 PM - Jul 24, 2023
4/29
In fact, there's probably zero chance of him ever making those billions back on this investment, given how he alienated most the advertisers for the site.
Many left because he was allowing unchecked disinformation -- propaganda -- back on the site.
Many left because he was allowing unchecked disinformation -- propaganda -- back on the site.
apnews.com
Twitter changes stoke Russian, Chinese propaganda surge | AP News
Russia, China and Iran are exploiting recent changes at Twitter to spread disinformation faster and farther. Under new owner Elon Musk, Twitter recently ended its policy of labeling foreign propaganda agencies like RT or Sputnik. Researchers say the site has also ended its policy of making those acc..
08:19 PM - Jul 24, 2023
5/29
The site was never perfect, but there was at least some attention to upholding a code of conduct. Checking disinformation around matters of public health, even if the checks were meek.
There were at least people there who's jobs were to pay attention to disinformation and do things about it.
There were at least people there who's jobs were to pay attention to disinformation and do things about it.
08:20 PM - Jul 24, 2023
6/29
He fired them all. And it turns out, most advertisers didn't like it.
08:21 PM - Jul 24, 2023
7/29
Nor did most of the verified users -- the famous ones, the smart ones, the funny ones, the connected ones -- the ones with smart backgrounds who would say smart things and occasionally take even the dumb questions from us dumb fans. The ones who generated the site's value, the site's engagement.
08:21 PM - Jul 24, 2023
8/29
He eliminated verification. Let anyone post anything pretending to be anybody.
He implemented an $8 pay-by-month system instead to let some pretend that they are the ones with smart backgrounds saying smart things.
That's been a massive flop - pretending you're smart usually is.
He implemented an $8 pay-by-month system instead to let some pretend that they are the ones with smart backgrounds saying smart things.
That's been a massive flop - pretending you're smart usually is.
08:22 PM - Jul 24, 2023
9/29
And he pretended that many smart people bought in to the new system when they didn't. They didn't like that.
apnews.com
Famous Twitter users disavow Musk over verification return | AP News
Celebrities, professional athletes and other high-profile Twitter users are once again being verified by the social media platform and they don’t know why the blue check marks reappeared — nor do they seem too happy about it. Twitter removed the blue check icons last week from accounts that don’t pa..
08:22 PM - Jul 24, 2023
10/29
Advertisers haven't like it either. Any of it.
08:23 PM - Jul 24, 2023
11/29
It's a string of decisions that even those of us without MBA's can see doesn't make any sense.
If the goal is "smart business", this has to have been the kind of colossally dimwitted decisions that get studied in business colleges as the "what not to do" epic fails of a generation.
If the goal is "smart business", this has to have been the kind of colossally dimwitted decisions that get studied in business colleges as the "what not to do" epic fails of a generation.
08:24 PM - Jul 24, 2023
12/29
At least the site still had its name and brand -- a very potent brand, known to billions across the world.
The Brand still has value. Enormous value, even one without an MBA would think.
The Brand still has value. Enormous value, even one without an MBA would think.
08:24 PM - Jul 24, 2023
13/29
Right on cue, almost as though he's governed by an addiction to bad business decisions, he just slaughtered that brand like a Saudi royal slaughters a...
(too soon?)
(too soon?)
08:25 PM - Jul 24, 2023
14/29
When viewed from the lens of "smart business", none of this makes any sense. None of these decisions have been good for business. None would be.
But what if that's not the point? What if the lens is wrong?
But what if that's not the point? What if the lens is wrong?
08:26 PM - Jul 24, 2023
15/29
What if "smart business" isn't the aim here? What if he's getting exactly what he's wanted?
08:26 PM - Jul 24, 2023
16/29
His goals certainly seemed to include restoring the propaganda pushers and real-life Nazis to their operating positions. He accomplished that almost immediately.
From that lens, he hasn't "lost billions" in the purchase but rather "spent billions" to accomplish that specific goal.
From that lens, he hasn't "lost billions" in the purchase but rather "spent billions" to accomplish that specific goal.
lemonde.fr
08:27 PM - Jul 24, 2023
17/29
From that lens... how much would you think the finest propaganda machine ever known to a planet filled with propaganda enthusiasts should cost?
I'm guessing $30-or-so billion over market value is probably a steal.
Especially for those for whom no amount of money is any amount of concern.
I'm guessing $30-or-so billion over market value is probably a steal.
Especially for those for whom no amount of money is any amount of concern.
08:27 PM - Jul 24, 2023
18/29
But what if there's more?
In a post about the "X" rebranding, Twitter CEO Linda Yaccarino called it the "future state of unlimited interactivity... Powered by AI".
https://twitter.com/linday...
In a post about the "X" rebranding, Twitter CEO Linda Yaccarino called it the "future state of unlimited interactivity... Powered by AI".
https://twitter.com/linday...
08:29 PM - Jul 24, 2023
19/29
AI has been making the rounds a lot lately.
Chatbots are now mainstays in more and more organizations, providing front-line support in all kinds of industries.
Chatbots are now mainstays in more and more organizations, providing front-line support in all kinds of industries.
08:30 PM - Jul 24, 2023
20/29
ChatGPT is in its infancy but already demonstrating the kind of human-like interactivity we expect from the computer on any starship Enterprise.
08:31 PM - Jul 24, 2023
21/29
Artificial Intelligence is here. And it is doing real things.
08:33 PM - Jul 24, 2023
22/29
And a billionaire making a string of "bad business decisions" has now announced his very real stake in the AI space.
08:33 PM - Jul 24, 2023
23/29
Not like it was a secret - his X.AI company was registered as a Domestic Corporation by an agent with an office on East Warm Springs Road in Las Vegas, Nevada back in March.
https://s3.documentcloud.o...
https://s3.documentcloud.o...
08:34 PM - Jul 24, 2023
24/29
A great deal of progress has been made in the development of AI models. But every AI model needs to be trained. And that takes data.
Lots of data.
If you intended your AI model to have influence on a global scale, where do you go to obtain a massively global amount of data with which to train it?
Lots of data.
If you intended your AI model to have influence on a global scale, where do you go to obtain a massively global amount of data with which to train it?
08:35 PM - Jul 24, 2023
25/29
Imagine having all the records ever produced at Twitter.
Every tweet ever tweeted by every person ever to tweet. A record of every person who viewed every tweet ever tweeted. Who liked every tweet. Who retweeted every tweet.
A databank of human behavior and attitudes on a massive, global scale.
Every tweet ever tweeted by every person ever to tweet. A record of every person who viewed every tweet ever tweeted. Who liked every tweet. Who retweeted every tweet.
A databank of human behavior and attitudes on a massive, global scale.
08:36 PM - Jul 24, 2023
26/29
That's lots of data.
That could train an AI. That could train a massive AI.
That could train an AI. That could train a massive AI.
08:36 PM - Jul 24, 2023
27/29
If the goal is "smart business", there are clear failures happening.
But if the goal is something else...
But if the goal is something else...
08:36 PM - Jul 24, 2023
(Edited)
28/29
...the ability to influence human behavior on a global scale...
powered by an AI model aligned with an authoritarian's world view...
trained with one of the largest sets of data reflecting human thoughts, wishes, fears, and behavior ever assembled in the history of humanity...
powered by an AI model aligned with an authoritarian's world view...
trained with one of the largest sets of data reflecting human thoughts, wishes, fears, and behavior ever assembled in the history of humanity...
08:39 PM - Jul 24, 2023
29/29
For the authoritarian wanting to direct the globe, the purchase price is a steal.
/end
/end
08:39 PM - Jul 24, 2023
In response to Misha Ellison.
Would you allow me to translate this? I believe it should be available in Portuguese. Brazil is heavy user on Twitter and we're still in the gray with data protection regulations.
For all you said...
We're about to be hit by a tsunami and no one's sounding alarms.
For all you said...
We're about to be hit by a tsunami and no one's sounding alarms.
11:28 PM - Jul 27, 2023
