Greetings, senior tech reporter Kylie Robison, here, and cheers to the new year! As you sketch out your 2024 resolutions, it’s important to remember that consistency is key. Take X (formerly Twitter), for instance, which has consistently seen its valuation fall and fall, reaching new lows just in time for the fresh start.
According to Axios, Fidelity, the mutual fund titan instrumental in Elon Musk’s $44 billion takeover of X, has marked down the value of its investment for the fourth time since October 2022. The firm’s current value for X is a staggering 71.5% below the acquisition price. Not entirely shocking, given that Musk bid adieu to 2023 with a bold message to the big brand advertisers boycotting his platform—“go f--k yourself”—along with a special nod to Disney CEO Bob Iger.
