Earlier this week it was reported that the value of Twitter / X has more than halved since Elon Musk paid $44bn for the company a year ago. That’s not entirely true. Multiply the value of the stock recently distributed to X employees as part of their compensation up to the total value of the company and yes, you get $19bn. What this means, however, is that Twitter would now be worth $25bn less to someone else. To Elon Musk, its use value has increased, as we saw last night. Musk’s ownership of the platform secured him not only a seat among world leaders at the first multinational agreement on AI but a fawning, softball interview with our prime minister, conducted entirely on his terms.
From my seat in the long gallery at Lancaster House – the press, whom Musk despises, were relegated to the back rows on one side and denied the opportunity to ask questions – the interview made for uncomfortable viewing. As they sat down Sunak took off his jacket; given the conversation that followed, I’m surprised he didn’t offer to buff Musk’s shoes with it.
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