With the announcement of Elon Musk, Twitter on the brink of bankruptcy contract. What is the reason for Twitter’s billion dollar revenue drop? Wrong management or the growth of competitors?
Report and unofficial statistics from the meeting Elon Musk with Twitter employees stating that, Twitter on the brink of bankruptcy contract. Twitter’s revenue has fallen sharply since Elon Musk took office. This news is directly related to the resignation of the top managers of Twitter. Because these managers have problems with Elon Musk’s policies.
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Twitter is on the brink of bankruptcy
Elon Musk Two weeks after taking over Twitter, he finally held a meeting with the company’s employees to answer their questions. Unofficial reports say that this meeting was held suddenly and the employees were informed less than half an hour before its holding. In part of his speech, Elon Musk said, “Go.” Twitter revenue decline It is so much that it can be saidTwitter is on the brink of bankruptcy.»
twitter It has not made a profit since 2019 and since the acquisition of this company by Elon Musk, the income from advertising has decreased significantly because a number of advertising companies They have temporarily stopped their activity on Twitter.
Elon Musk said in a meeting that was held with the presence of all the current employees and managers of Twitter, he predicts that in 2023 this social network Record “several billion dollars of negative net cash flow”. Musk also said:
The future of Twitter depends on the success of the new version Twitter Blue subscription service “It’s to keep Twitter alive that we put so much emphasis on subscription users.”
Modified version Twitter Blue which costs eight dollars a month, Get a blue tick makes it possible This subscription service has become available in recent days and has created a lot of buzz. After receiving the blue tick, a large number of users faked the identity of famous people and started publishing tweets containing false information.
According to Engjet report Elon Musk In a face-to-face meeting with Twitter employees, he said that the era of remote work is over and these people should be at work for at least 40 hours a week. Before being taken over by Elon Musk, Twitter announced that its employees could work from home forever. Musk said that those who do not show up at work will be fired.
It is said that a number of Senior Twitter executives who were not fired by Elon Musk, have resigned from their positions. The Chief Information Security Officer, Chief Privacy Officer and Chief Compliance Officer are all no longer working at Twitter. It is said that the resignation of these employees may cause Twitter to be fined heavily by the US Federal Trade Commission.
Bloomberg says: “Yesterday, two other high-ranking executives at Twitter (head of trust and safety and vice president of customer solutions) have resigned from their positions at the company. A day before the resignation, the two had appeared with Elon Musk in a meeting to obtain the consent of advertising companies.
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