As a researcher with a background in technology and investment, I’ve closely followed the actions of both Elon Musk and Justin Sun in the realm of profitable startups and tech businesses. Elon Musk’s acquisition of X, now worth billions, revolutionized social media and paved the way for new ventures like xAI.
Elon Musk, the entrepreneur behind SpaceX and Tesla, leads in investing in profitable startups. In contrast, Justin Sun, Tron’s founder, seems determined to replicate Musk’s strategies closely.
Like Elon Musk’s X, like Justin Sun’s Weibo?
I, as an analyst, would rephrase it this way: A few years ago, Elon Musk made headlines by purchasing X, significantly altering the course of social media history. Via this platform, he’s been a vocal advocate for free speech principles. Furthermore, he’s exploring opportunities to incubate new businesses such as xAI, which has integrated the Grok chatbot and X Payments.
微博现在市值确实是不高，20亿美元，一年还赚3亿美元，市盈率才6倍，而且护城河还可以，流量很大，未来以此还可以孵化别的业务，大家觉得买过来繁荣共建怎么样
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 12, 2024
As a seasoned investor deeply involved in the crypto sphere with numerous transactions, Justin Sun has dropped hints about potential plans to acquire Chinese social media platform Weibo. He’s presented several compelling arguments that strengthen this prospect. One such reason is the relatively low market capitalization of Weibo, which currently hovers below the $2 billion mark.
In his perspective, the price he’s paying is reasonable, even though Musk spent $44 million more for a similar asset. Given that the company generates around $300 million in profits annually, this seems like a worthwhile investment to Sun. Furthermore, Sun emphasized Weibo’s substantial online traffic as an opportunity to introduce and grow other businesses.
Online engagement farm or real deal?
Justin Sun boasts an impressive business portfolio with companies such as Tron DAO, Poloniex, BitTorrent, and HTX Global among them. His achievements are well-known, but the veracity of his latest Weibo announcement remains uncertain.
As Justin Sun attempts to mimic Elon Musk’s strategies in the social media investment sphere, some raise red flags regarding his questionable trades. Several analysts argue that HTX, the platform Sun leverages for these investments, may have significant issues with liquidity and reserves. These concerns stem from Sun’s frequent purchases of Bitcoin and other popular altcoins.
He has denied any allegations of misconduct and his trades remain a source of debate to date.
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2024-07-13 16:48