Twitter = AOL, LOL.
I am not a twitter user, however this seems an apt tweet if DKos readers would like to amplify it on your twitter accounts.
As many know, AOL “bought” Time Warner back a tad before Daily Kos was born...
On January 10, 2000, in one of the biggest media mergers in history, America Online Inc. announces plans to acquire Time Warner Inc. for some $182 billion in stock and debt. The result was a $350 billion mega-corporation, AOL Time Warner, which held dominant positions in every type of media, including music, publishing, news, entertainment, cable and the Internet.
AOL proposed and executed the deal at the height of the dot com bubble of 1999-2000 when it’s stock valuation was tremendously inflated. The deal flamed out and dramatically devalued the Time Warner assets.
Now we have Elon Musk with likely inflated Tesla stock purchasing Twitter at an inflated price. How long before this deal flames out or twitter loses its relevance? Of course the notion of the world’s wealthiest person owning a far reaching social influencing media site is chilling.