CEO says company faced ‘massive decline in advertising’ and could have gone bankrupt if he didn’t cut costs
Elon Musk, who bought Twitter in October, said the likely time to put in place a new person to take over the day-to-day management of the social-media platform could be toward the end of 2023. He spoke remotely at the World Government Summit in Dubai. Photo: Kamran Jebreili/Associated Press
The truth of course is that Twitter was absolutely fine before he stuck his dirty money grubbing hands in the pot.
Cry, babies, cry...
Good! Maybe that is why the Court insisted you take it on. They hoped you could save it. Twitter does serve as another place to be heard.
Daily TWTR hit piece elicits Pavlovian reflex. See comments.
'Elon Musk says'
A “shot” doesn’t sound promising. But we keep taking his word on things so …
The Elon Musk Story, by Elon Musk
Why can't I cancel my subscription online. This tactic is essentially trying to force an auto renew in hopes that I won't call. I've been on hold for 11 minutes to cancel a digital subscription. Complete BS. nytimes and washingtonpost allow online cancellation.
Musk is too smart for these Lefty's that keep trying to take him down. Plus he's right about them too
I think Elon has a Jesus complex
Y’all know he’s a habitual liar, right?
Could
What Elon Musk has done is called retrenchment caused by the business finances / Economics, it’s not redundancy caused by restructuring staffing levels. Remember the Court orders him to purchase the business after he had said that it wasn’t viable.
The problem is that Elon says a lot of stuff and half the time it’s an exaggeration or blatant lie. 🤷🏻♂️
🤡 🤣
So he cut costs, and his employees paid the price. He is not a hero.
Twitter will soon be worth twice what Elon paid for it
Seems like a stupid thing to buy then said a junior manager at McDonalds...FFS
Could have gone? So what did change meanwhile Looks more a bit unchanged so far - financially seen
I too would have more money if I stopped paying for services I still use
Can I make a question to Mr. Elon Musk, please? Mr. Musk, if you had a no limit budget , which is the project you would built to end up with the worldwide hunger in just five years? Thanks in advance.
Several thousand months, but months nonetheless.
His added debt caused the bankruptcy risk
He stepped away & paid a few competent people to save Twitter. Not enough time to tell if it worked yet.
Who says , negative publicity is the best publicity
sorry gotta laugh hilariously 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
BS
This administration would have funded it to keep its microphones on and continue controlling the narrative
Musk has proven that he’ll just say stuff without providing any details of how it’ll actually happen and then these bold statements never materialize. Only Musk fanboys believe what comes out of his mouth at this point.
He meant 'meth-positive.'
Smart guy a bussines man he should run a Country instead of a carrer politician , we used to have one hopefully he’ll be back unless they allow anothe avalanche of mail in ballots
Even the Wall Street Journal has reported that elonmusk decided not to pay legally obligated debts of Twitter . That’s one way to, at least temporarily, avoid bankruptcy but there nothing impressive about a financial deadbeat strategy.
Cool, is he going to keep on racking up dismissal-related lawsuits and driving advertisers away by encouraging and defending bigotry in the meantime, because that can be pretty detrimental to cash flow too.
$44 billion … lol
Twitter at one point had like 400 years of free cash flow.
The first thing he brought when he bought was massive debt to service. Then he chased away advertisers. Then he chased away a diverse ecosystem of users, whose compelling content is the product. Now, he’s not paying vendors. But yeah, cost cutting 😵💫🤡
FORTY FOUR BILLION…Suck it up Buttercup…
Management of tech companies and conspiracy theories could be held separate.
Could.Would.Should.
Cash flow positive in a few months lmao kinda like how FSD is still in beta and there isn’t a single cyber taxi on the road. I don’t think anyone is holding their breath for that one.
Twitter sucks
'it has a shot of being cash-flow positive in months'. 🤣 Not if he keeps blowing $100 million on payouts to ex-employees. What a disaster.
He also said self driving cars are coming ‘soon’. Since 2016.
Lol. Lmao.
Fast work.
👏👏👏👏👏
I wonder: did he not study the accounting books of this company before buying it? how could he pay so much for something that was bankrupt? Is the Tweeter brand worth that much?
Great news.... 💯👍👍👍
Makes total sense. All viable large companies tighten their belts when necessary. Takes some guts, vs looking for sand fleas with your head down deep. 👌
I have some ideas that will help you achieve positive cash flow in fact here's a hint, in California low budget businesses advertised late at night and were offered reduced rates with guidance Twitter can guide small business too success and funny content
Good for Elon! Hope it goes well!
Based on his track record, I wouldn't bet against him...
Was not that obvious?
Cash flow positive vs. broken and tired platform. Unfortunately, there is no recalls for poor Twitter platform only Tesla’s.
Remember, Elon Musk did not want to buy Twitter he was very clear about that due to its financial problems. Elon Musk was ordered to buy Twitter by the Court and at the insistence of the previous Owners themselves. Look to them for your criticism. They celebrated the sale.
Probably true and yet another reason why free markets dont work under stupid people and their love for consumerism. Monetary societies that based their currency on a chocolate standard would have faired far better than any 20th Century psuedo democracy.
This platform has the most potential than any other at the moment. Invest!
You can count on Elon to shape things up. And his influence may make the while silicon valley more efficient.
No doubt, since now they're in capable hands!
Taken over Twitter by Elon Musk is a good measure, but he seemed highly overvalued Twitter above the market price. He is in a need of huge revenues from the big clients to pay operational costs n expenses. Otherwise, Twitter will go bancrupt. I hope not..🤔
I agree. It was a management issue and the fact that Dorsey owned Block...that was purposeful of needing direction.
Ни пуха ни пера)
My cash flow would be extremely positive if I stopped paying my bills too
for someone on african time, he may be right on $, not on time
It's a worse product.
😬🤔
I value stability more than a positive growth dynamics
Price of steel 4220 a ton Price of Aluminum 2352 a ton Price of Titanium 8.50 a kg Price of molybdenum 90.50 kg Titanium and Molybdenum needs to fall to $2.00 to be competitive with steel.
Scammer say what?
Why did he pay $44 billion for a company that was going bankrupt? Does he understand the difference between cutting costs and cutting revenue?
😂
Did anyone have any doubts? We're talking Elon Musk here. He has one of the greatest business minds in this Country...probably the world. Oh yeah, he also rescued free speech from the Marxists while he was at it. America's electronic town square is in good hands and thriving.
Selling office plants to employees is an outstanding strategy to boost the bottom line. If Elon continues to avoid paying Twitter's rent, & the lease isn't renewed, he could have no overhead whatsoever. I suspect we'll soon see him selling pens from the supplies cabinet. 🙄
This means Twitter was flush with cash when Elon took over but will be filing for bankruptcy very soon.
Musk did not pay 42 mil for Twitter to fail, why in the world would hire 7,500 employees give them free lunch, and you cannot make a dime. Musk is rebuilding the company from the ground up 1000 employees, just give him time
And he’s famously honest about timelines
Wouldn't that piss the left off? Clowns
$250,000 a year cap on pay.
It's me, hi, I'm the problem, it's me
An Annuity retirement plan. Plus 401k plan Work 5 years get a $175 per week Annuity check. Work 10 years get a $350 per week Annuity check. Work 15 years get a $525 per week Annuity check. Work 20 years get a $700 per week Annuity check. Max Annuity work requirement of20years
🤡🤡🤡🤡🤡🤡conman
Well, elonmusk you did pay 44 billion and piled a big chunk of debt on it in a rising interest rate environment. How did you think it was going to work out? It turns out that cash flow matters. 🙃
Bullshit
Oligarchs are radical, criminal looters
For saving space 🤣
Elon's brilliant strategy is 'stop paying my company's bills' How many lawsuits against Twitter are we up to now?
It's better to be bankrupt than to serve the Russians.
And then he went and bullied a handicapped employee in public. So, no time soon
Same guy said he'd have humans on Mars in 10 years (in 2010)
yeah, right, lol
We just need a few more white nationalist trolls to pay for verified check marks and we’ll be in the red 🫠😵💫
😄
I’d say that too if I took over a company.
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