Twitter was poorly managed. It would have been a $100B company in 2020-21 if it had shown any semblance of consistent profitability.
The opportunity here is to:
- Take the company private
- Cut costs by pruning staff and reducing bloat
- Get high-engagement accounts back, which, in turn, will bring back advertisers (perhaps sweeten the deal by promising something with your other ventures)
- Eke out a few quarters of consistent profits
- Go public again, this time with $500M/quarter of profits
- Enjoy the standard "Musk-effect" 40x PE multiple and slow keep cashing out
