said in April after sealing the deal. “I don’t care about the economics at all.”

He cared a little more when the subsequent plunge in the stock market meant that he was overpaying by a significant amount. Analysts estimated that Twitter was worth not $44 billion but $30 billion, or maybe even less. For a few months, Mr. Musk tried to get out of the deal.

This had the paradoxical effect of bringing the transaction down to earth for spectators. Who among us has not failed to do due diligence on a new venture — a job, a house, even a relationship — and then realized that it was going to cost so much more than we had thought? Mr. Musk’s buying Twitter, and then his refusal to buy Twitter, and then his being forced to buy Twitter after all — and everything playing out on Twitter — was weirdly relatable.

Inescapable, too. The apex, or perhaps the nadir, came this month when Mr. Musk introduced a perfume called Burnt Hair, described on its website as “the Essence of Repugnant Desire.”

“Please buy my perfume, so I can buy Twitter,” Mr. Musk tweeted on Oct. 12, garnering nearly 600,000 likes. This worked, apparently; the perfume is now marked “sold out” on its site. Did 30,000 people really pay $100 each for a bottle? Will this perfume actually be produced and sold? (It’s not supposed to be released until next year.) It’s hard to tell where the joke stops, which is perhaps the point.

Evan Spiegel.

“What was unique about Twitter was that no one actually controlled it,” said Richard Greenfield, a media analyst at LightShed Partners. “And now one person will own it in its entirety.”

He is relatively hopeful, however, that Mr. Musk will improve the site, somehow. That, in turn, will have its own consequences.

“If it turns into a massive home run,” Mr. Greenfield said, “you’ll see other billionaires try to do the same thing.”

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