 Hi there,Sup!!!Good week & weekend so far?Yes?! That’s what I’m talking about! Who’s ready for some tea today? Because #AsEDeyHot (i.e. Bringing you the goodies as its sizzling hot!  ) Shall we proceed?TWITTER & ELON’S WRATH  Where Do We Begin?The Paying For The Blue Tick?The Massive Layoffs?The Infrastructure-Cut Ambitions?Don’t worry because I gotchu! We’d go through each subtopic! Paying for the Blue TickSimply put: content moderation will become super messy. You know why? If anyone could pay for the blue tick, well, hello impersonators, scammers, fraudsters, and the whole plethora of their gang. Mind you, Twitter’s current verification system, launched in 2009, was created to prevent impersonations of high-profile accounts i.e. celebrities and politicians. …but Elon be like, I gotta make my $44 billion one way or another folks! So, in a recent update to Apple iOS devices, Twitter said users who “sign up now” can receive the blue check next to their names “just like the celebrities, companies and politicians you already follow”. Who know’s what will happen to already verified accounts? When will they start demanding payments for those blue checks? Elon: Yea, so that’ll cost you $8 a pop.  The Massive Layoffs Musk’s goal is to kill 50% of the Twitter workforce, which is about 3,700 people. Elon says, these layoff will save the company ~$400 million/year. Right now, Elon claims that the company will keep losing over $4million/day if nothing is done. Now doing the maths. When will we hit $44 billion in savings?  I kid hah Lowkey, Elon has a point. Hence, Jack Dorsey’s response is in order? Take a look:  So perhaps Twitter’s workforce is truly bigger than it really needs to be? and Elon isn’t the only bad guy here? Man has been benevolent (if he does say so himself) – he said “everyone exited was offered 3 months of severance, which is 50% more than legally required.”  The Infrastructure Cut Elon Musk has also directed Twitter’s teams to find up to $1 billion in annual infrastructure cost savings, for concerns that Twitter could go down during high-traffic events like the U.S. midterm elections.  Elon is ruthlessly looking for how to make money back tooth & nail because Elon feels like he overpaid for the deal. We all know he tried to back out but since he couldn’t, he is on a path to skin the cat in all the ways he can! Elon:  Until Elon is done getting his cash, more drama to come. My prediction. On another note… Let’s talk EVsXPENG vs. NIO  Chinese electric car startup, Xpeng has been underperforming for three straight months. Li Autos and NIO delivered double the number of cars that Xpeng did i.e. Li Autos & NIO reported monthly deliveries of more than 10,000 each, but Xpeng delivered just 5,101 cars. Needless to say, Xpeng shares fell by 3%, while NIO’s rose by 0.4% and Li Auto shares jumped by 6.9%.Quick caveat though: Unlike Xpeng and Nio, Li Auto’s vehicles are not purely electric because they come with a fuel tank to charge the battery and extend driving range.PoTaTo PoTaHTo?  There we go! |
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Thinking about Elon & Twitter gives me a headache so… Let me go back to drinking my tea, because 
Your dearest and favorite Stocks Market Gist Partner,
Tomi, From Trove
