‘Twitter is ALIVE’: Elon Musk hits back at his critics just days after the ‘RIPTwitter’ trend, considers even more layoffs to slash costs. Bet on the billionaire with these other assets
Even as a private company, Twitter continues to make headlines — and they aren’t exactly positive.
New owner Elon Musk has cut thousands of jobs at the social media giant, removed the company’s “days of rest” — monthly days off for employees to rest and recharge — and ended its remote work policy.
The hashtag #RIPTwitter went viral last week on reports that employees were quitting en masse after Musk told them to either commit to “long hours at high intensity” or leave.
But Musk seems to doubling down.
“Twitter is ALIVE,” he says in a weekend tweet, which has since received 1.4 million likes.
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Moreover, Bloomberg reports that Musk is considering laying off even more employees, targeting the company’s sales and partnership teams.
For a company that lost $344 million from operations in a quarter (per Twitter’s last available financial report as a public company), cost-cutting could be exactly what the doctor ordered.
If you like what Musk is doing to improve efficiency and reduce costs at Twitter, unfortunately, you can no longer invest in it.
But you can still invest alongside Elon Musk — here’s a look at how.
As a serial entrepreneur, Musk has created quite a few successful businesses. But he is best known as the co-founder and CEO of EV maker Tesla.
According to Bloomberg, Musk’s biggest asset at the moment is Tesla equity.
While Tesla stock hasn’t been a hot commodity — shares are down a painful 45% year to date — it remains a behemoth in the automotive industry. With a market cap of around $680 billion, Tesla is several times bigger than Ford and General Motors combined.
And despite the stock’s downturn, business is still heading in the right direction.
In Q3, Tesla delivered 343,830 EVs (18,672 Model S/X and 325,158 Model 3/Y). The amount represented a 42% increase year over year.
Wall Street also sees upside in Tesla shares. For instance, Morgan Stanley analyst Adam Jonas has an ‘overweight’ rating on Tesla and a price target of $330 — roughly 83% above where the stock sits today.
Musk has discussed the importance of owning “physical things” in an inflationary environment.
“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.”
Despite the Fed’s aggressive rate hikes, real estate remains a popular asset. The S&P CoreLogic Case-Shiller 20-City Composite Home Price NSA Index is up 13% over the past year.
Read more: Trade up while the market is down: Here are the best investing apps to pounce on ‘once-in-a-generation’ opportunities (even if you’re a beginner)
As the price of raw materials and labor goes up, new properties are more expensive to build. And that drives up the price of existing real estate.
Well-chosen properties can also provide a steady stream of rental income.
But you don’t need to be a landlord to start investing in real estate. There are plenty of real estate investment trusts (REITs) as well as crowdfunding platforms that can get you started on becoming a real estate mogul.
Once considered a niche asset, cryptocurrency has now entered the mainstream. A study from the CFA Institute earlier this year showed that 94% of state and government pension plans have invested in cryptocurrencies.
Of course, many investors learned about cryptocurrencies’ volatility the hard way through this year’s massive pullback. For instance, bitcoin — the largest cryptocurrency in the world — is down 66% so far in 2022.
Musk has been one of the more outspoken proponents of cryptocurrency.
“I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw,” he said in a tweet earlier this year.
There are plenty of platforms that allow you to invest in crypto. Just be aware of fees: many exchanges charge up to 4% in commission fees just to buy and sell crypto. But some investing apps charge 0%.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.