Musk responds to long-term drug use rumors!"They will do whatever it takes to destroy X"......

On January 7, the topic of "Musk was exposed to drug use" appeared on the hot search.

Recently, foreign media revealed that Elon Musk, CEO of Tesla and SpaceX, "often takes drugs", which raises concerns about his company's operations.

In response, Musk quickly fought back.

"They will destroy X at any cost"

Musk responds to drug use rumors

On January 7, local time, Musk posted on the X platform that after taking a puff (marijuana smoke) with comedian Joe Rogan, he agreed to conduct a random drug test for 3 years at the request of NASA, and no trace amounts of drugs or alcohol were found.

According to the Wall Street Journal, according to people who witnessed Musk's drug use and other people familiar with the matter, Musk often smokes cocaine, ecstasy and other drugs at private parties around the world, and participants have to sign a non-disclosure agreement or hand over their mobile phones to enter. According to the report, Musk had previously smoked marijuana in public. According to the report, the illegal use of drugs is likely to violate U.S. federal regulations, which could jeopardize SpaceX's multibillion-dollar contract with the U.S. government.

At the same time, Musk's die-hard fan "DogeDesigner" shared a report on the X platform about Musk's long-term drug use, which worried Tesla and SpaceX leadership, and sarcastically wrote: "Breaking news: Today's media is all about drugs. ”

In a next post, he wrote: "The more X grows, the more frequent the media attacks on Musk. Why: Traditional media is a direct competitor to X. Musk responded to the post, writing: "This is to be expected. They will do whatever it takes to destroy X. ”

Another Musk fan, Whole Mars Catalog, also shared the report, commenting: "So you're telling me that this guy not only sold more EVs in 2023 than any other automaker on the planet, but also put 80% of the world's payload into orbit." But he did it while taking LSD, cocaine, ecstasy, and ketamine? just when you think this guy couldn't be better, what a stupid smear job. ”

He also commented on the report's reference to Musk's public use of marijuana in a live webcast interview with Joe Rogan.

X市值已蒸发2200多亿，缩水超70%

Musk caught in the "anti-Semitic storm"

According to the Financial Associated Press, the market value of X (formerly Twitter) has shrunk in 2023 due to the withdrawal of advertisers, and the company's valuation is now expected to be less than one-third of what Musk bought a year ago.

According to the latest report disclosed by Fidelity, a well-known investment institution, as of the end of November 2023, X's market value is expected to be 71.5% lower than when Musk bought it. Fidelity's market capitalization assessments of unlisted stocks tend to have a one-month lag. Musk acquired Platform X for $44 billion in October 2022. Fidelity's report means that the company's market capitalization has now fallen to about $12.5 billion, down about $31.5 billion (about 225.4 billion yuan).

Fidelity is one of the shareholders of Company X, and the financing provided by the institution helped Musk complete the massive $44 billion acquisition.

In fact, since the first month of Musk's acquisition of X (then known as Twitter) in October 2022, Fidelity has begun to downgrade its valuation of X. While Fidelity has slightly raised or stabilized X's valuation in the early months of 2023, overall, X's valuation has been on a downward trend.

In October, X told employees in an internal document announcing the share grant that X was valued at $19 billion at the time, about 56% less than Musk's initial purchase price.

Since Musk acquired X in late October 2022, he has taken a series of reform actions: from mass layoffs and the closure of international offices, to subverting the platform's moderation policies and verification system. The changes have put advertisers off and led to a sharp drop in the platform's ad revenue, which is the company's main source of revenue. According to foreign media, X's advertising sales revenue for the whole year of 2023 will reach $2.5 billion, far lower than the previous level of about $1 billion per quarter.

Fidelity believes that in November alone, X's market value suffered a sharp decline of 10.7%, and this may be mainly due to the anti-Semitic public opinion storm that Musk is deeply involved in.

In early November, Musk liked a post involving "anti-Semitic" remarks, causing several of X's biggest advertisers, including Apple and Disney, to pause advertising. Although Musk later apologized for "anti-Semitic" public opinion, in a public interview at the end of November, he scolded the advertisers who boycotted X, accusing them of kidnapping him with money, and saying that "if the X platform fails, these advertisers will be the culprit" — which makes X unable to win back the advertisers.

While X's market capitalization has been declining, the market capitalization of other social media platforms has soared over the last year: Meta shares soared 194% and Snap shares jumped 89% for all of last year.

Edit|Duan Lian covers the source source

Proofreading|Sun Zhicheng

The daily economic news is synthesized from Musk's X account, the Wall Street Journal, the Financial Associated Press, public information, etc

National Business Daily