Wrestleknownothing

What is your prediction for the 5 tomorrow?

Yeah, but think of the money he saved by not paying the severance he agreed to pay to the people he laid off. I cannot think of a sadder existence than Twitter corporate counsel right now. Your job is to try and screw a bunch of laid off programmers out of tens of thousands of dollars at the behest of the second richest person in the world.

Any idea who is leading?

The headline was "Michigan is leading the Big 10s". They are leading 64 to 120.

Kerkvliet big brothering Cassioppi

Tell these guys to shut up so we can hear Casey Cunningham coaching Kerkvliet

Huskers 5 for 5. Too bad nobody on here would have predicted that.

Hamiti has such a speed advantage

That look on Kharchla's face after the stalemate was "god, did that suck"

I will take that bet. Million bucks?

He earned that SV takedown with that 3rd period ride.

I love that RBY didn't back away from that throw attempt by Ragusin at the end.

looking forward to this. Thanks for the heads up.

Before loosing Heinselman and Vasquez OSU and ASU were 8th and 15th, respectively, when averaging across the three rakings services: After loosing them they fall to... 8th and 15th? Heinselman was worth 3.8 expected points, but OSU had a 5 expected points advantage over Michigan going in. Vasquez was worth 1.2 expected points, but ASU had a 1.8 expected points advantage over UNI going in.

If you two don't know, what chance does someone like me have? Edit: I take that back. I just watched in slo mo. THAT IS A FREAKIN SWIMMING MOVE. I may be a wrestler after all.

I'm a Penn State fan, what is this 125 you speak of?

source?

Pin? Fall? Pin Fall? PINFALL. One word to rule them all.

I had not read it, but just did now. It is not wrong. By one, common, legally required standard Twitter was not profitable. I am just saying that is not the only, or commonly used measure. But there is no point for the WSJ to get into subtleties on a supporting point to a broader story.

Sorry that was so long.

Me and you both. But whatever it is called, I love it.

GAAP stands for generally accepted accounting practices. It is a way to measure things like earnings and cash flow. It can require some weird stuff though. For example, if a company owns securities and their price goes down then that has to come out of earnings even though the securities were not sold. However, if the security price goes up you do not add it to earnings until you sell the security. Because of esoteric things like this GAAP is not always used. But whatever, Twitter was profitable by one measure and not by another, related measure, so not exactly great financially, but also not awful. Somewhere in between. The best companies would be profitable by all measures. The point though is was not a financial dumpster fire. As for value, that is different. A public company is worth what someone will pay for it (or has paid for the last trade multipled by all shares). Elon Musk, Fidelity, and a few others as a group, paid $54.20 per share. (That's right, Musk chose a weed joke as his bid price. Though he swore in court it was not a weed joke.) Fidelity marked that down 56% by year end. That is their best estimate of what they could sell their stake for. Musk borrowed a ton of money to purchase his shares. Typically the banks who lend that money immediately securitize the loan and sell it to investors. In this case they could not do that at anywhere near breakeven because Musk was busy loudly pretending Twitter was a fraud because he was trying to get out of overpaying for an asset he was doing his best to ruin before he bought it. Those banks took huge earnings losses (see GAAP accounting) and have periodically explored selling those loans. Initially they floated a price of 65 cents on the dollar, but later lowered that to 60 cents. Nothing has sold so far. In classical finance, if a bond is priced below 60 cents the market believes there is not enough money to pay back lenders (i.e. possible/probable default/bankruptcy) which zeroes out equity investors. So now we have two estimates of Twitter's equity value. A high estimate of $30.35 per share and a low of zero.

Two informed opinions. Fidelity wrote down their shares by 56% at year end. The banks that lent money recently tried selling those loans at 60 cents on the dollar, which in a textbook would suggest no equity value.

Again, GAAP vs non-GAAP. The reality is it is overly simplistic to use GAAP in most circumstances, but GAAP must be disclosed by public companies. Most analysts rely on non-GAAP or a hybrid rather than pure GAAP.