Comment by aga98mtl
2 months ago
Yes, the republicans will cut spending. Next election cycle the Democrats will be able raise spending, but now from a more sound basis. The deadwood will be pruned. DOGE is good for both the left and the right.
Also do note that the current Twitter valuation is higher than we he bought it. Cutting 80% of the staff at twitter was the right move. https://www.yahoo.com/tech/elon-musks-startup-xai-now-120118...
xAI and X are two separate companies. xAI is raising funds with a target valuation of $40b, but that has nothing to do with X. The article you linked to makes this pretty clear and validates what I said about the 80% lost.
> The new valuation means xAI has surpassed the $44 billion Musk paid for Twitter in October 2022. X was valued at $9.4 billion by Fidelity, one of its investors, in September. The firm, which invested $19.6 million in the platform, has written down the value of its investment by nearly 79% since 2022.
Cutting 80% of the staff happened during the same time period when Fidelity dropped the evaluation by 79%. Cutting the staff doesn't seem like a good move at all.