Is this the worst decision ever by an entrepreneur?

Judging from the recent antics that Musk are pulling, you cannot depend on rich guys to keep making good decisions in the long term.

It seems at a certain point hubris takes over. There's no other way I can explain the decision to buy a brand for $44 billion to kill it.

Yes, that’s what happened yesterday. Musk replaced the Twitter logo with a big ‘X’ and it seems Twitter is going away to be replaced by his ‘X’ app.

What is X going to be? Apparently a do-it-all app on the lines of WeChat.

You’ll be able to talk to people. You’ll be able to buy and sell. You’ll be able to pay people.

That’s a grand vision, but did Musk have to start it this way? By buying Twitter?

This was a $44 billion dollar purchase and from some events in recent months, it seems it was the worst $44 billion dollars ever spent. Worse than the $5,000 I lost on Crypto during the peak of the madness.

ChatGPT got to 10 million users in 3 months. Threads did it in 3 days.

So why did Musk need to buy Twitter, which is a short messaging network, with a global reach and a very specific kind of people on it (all the young ones are on TikTok and Instagram).

I am certainly a very small businessman but the decisions baffle me. They just don’t make economic sense.

Not what Musk did, and not what Zuck did either.

If Musk wanted to create an app that looks and works very differently than Twitter, and has a different name than Twitter, then why did he need to build it with $44 billion sunk?

I think he could have reached his few million first users for a couple of billion max.

This must be hurting right now!

A lot of people on Twitter (most of them) are on Twitter because of what Twitter is. It’s a social messaging app. They are not consumers of an ‘everything app’. Not the guys sitting in India, South Africa, or Brazil.

They are going to resent all the changes that dilute the key functions. Plus, an app like that would work very differently in different markets. You can’t pick one app and scale it globally if it involves payments and commerce.

Interestingly, I do feel that X will be a success. It’ll have a market, have users and will make money. It’s a good idea with a 320 million strong market in the USA.

It just didn’t need Twitter.

What do you think? Can you see the genius behind Musk’s decisions that elude me?

Let me know!