Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.
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This is not about Technology.
I mean this is just ridiculous. He bough twitter for twice what it was actually worth fmv. He’s since gutted it infrastructural and culturally.
If it went public today under his leadership, there is no way it would be worth even 5% of its prior value.
He bought it with the specific intent of using it to measurably impact the election we’re having in 10 months.
I know this and have repeated it elsewhere. In this particular sense, it does have the value he paid.
