Buying a multi-billion dollar brand and then rebranding it has got to be in the top 10 all time most smoothbrained business decisions ever, right up there with New Coke and Blockbuster not buying Netflix.
He probably could have started his own social media site to compete with Twitter for 1/1000th of the cost and still have all the Elon poleriders hop on board. It would still be exactly as shitty as X is today, but it could have been done without destroying something somebody else built up. Not that I care, because fuck Twitter too, but if we’re looking at this from a purely strategic perspective it’s so blindingly obvious this was a bad business move.
Buying a multi-billion dollar brand and then rebranding it has got to be in the top 10 all time most smoothbrained business decisions ever, right up there with New Coke and Blockbuster not buying Netflix.
He probably could have started his own social media site to compete with Twitter for 1/1000th of the cost and still have all the Elon poleriders hop on board. It would still be exactly as shitty as X is today, but it could have been done without destroying something somebody else built up. Not that I care, because fuck Twitter too, but if we’re looking at this from a purely strategic perspective it’s so blindingly obvious this was a bad business move.
Every Business School 101 class will use this as a case study