Twitter is not having a good time since Elon Musk became its new owner. Given the uncertainty surrounding the platform, a good number of advertisers have jumped off the ship, which is severely affecting the company’s coffers. Elon Musk is aware of this and, in a new message addressed to his employees, the CEO did not rule out that Twitter will go bankrupt.
“Bankruptcy is not ruled out”said Elon Musk in an internal message that collects Information. “We can’t scale to a billion users and take massive losses along the way, that’s not feasible,” she added. Knowing that many companies are withdrawing their advertising from Twitter, the executive said that this is the reason why he is betting everything on subscriptions.
As you probably know, just yesterday they launched the new Twitter Blue, which has as its main novelty the possibility of obtaining the blue verified badge in exchange for $8 dollars a month. Elon Musk, of course, is fully confident that this proposal will work. At least in economic terms, because it is clear that functionally it is a real disaster.
“The reason we’re going all out with subscriptions is to keep Twitter alive.”
Despite the financial problems that have surrounded the platform for years, and which have clearly worsened with the arrival of Elon Musk, the aforementioned is apparently committed to becoming a lifesaver. According to CNBC, Elon Musk confessed that the sale of part of his Tesla shares was to save the social network.
According to a document by the United States Securities and Exchange Commission (SEC), Elon Musk put up for sale almost 4,000 million dollars in shares of the electric automaker. Although he did not detail the reasons for his surprise move, it could be inferred that he had some kind of relationship with Twitter.
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