https://sputnikglobe.com/20221110/musk-says-twitter-may-see-multibillion-losses-bankruptcy-next-year-reports-say-1104005470.html
Musk Says Twitter May See Multibillion Losses, Bankruptcy Next Year, Reports Say
Musk Says Twitter May See Multibillion Losses, Bankruptcy Next Year, Reports Say
Sputnik International
WASHINGTON (Sputnik) – US billionaire entrepreneur Elon Musk told Twitter employees that the media giant may see a “net negative cash flow of several billion... 10.11.2022, Sputnik International
2022-11-10T21:58+0000
2022-11-10T21:58+0000
2022-11-11T06:27+0000
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“We can’t scale to a billion users and take massive losses along the way, that’s not feasible,” the report cited Musk as saying. “[But] if you have a compelling product, people will buy it. That has been my experience at SpaceX and Tesla.”In Musk’s view, Twitter’s “bankruptcy is not out of the question” if his new acquisition will not be able to earn more than it spends, the report said on Thursday.The billionaire added that making Twitter more profitable may entail introducing video content and creating more attractive compensation conditions for content creators, according to the report.Musk closed a $44 billion deal to purchase Twitter on October 28 after months of negotiations and legal disputes with the company about the number of fake accounts on the social media platform, which the entrepreneur believed was much higher than the company reported.
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musk, twitter, bankruptcy
musk, twitter, bankruptcy
Musk Says Twitter May See Multibillion Losses, Bankruptcy Next Year, Reports Say
21:58 GMT 10.11.2022 (Updated: 06:27 GMT 11.11.2022) WASHINGTON (Sputnik) – US billionaire entrepreneur Elon Musk told Twitter employees that the media giant may see a “net negative cash flow of several billion dollars” next year with chances of bankruptcy, according to reports.
“We can’t scale to a billion users and take massive losses along the way, that’s not feasible,” the report cited Musk as saying. “[But] if you have a compelling product, people will buy it. That has been my experience at SpaceX and Tesla.”
In Musk’s view, Twitter’s “bankruptcy is not out of the question” if his new acquisition will not be able to earn more than it spends, the report said on Thursday.
The billionaire added that making Twitter more profitable may entail introducing video content and creating more attractive compensation conditions for content creators, according to the report.
Musk closed a $44 billion deal to purchase
Twitter on October 28 after months of negotiations and legal disputes with the company about the number of fake accounts on the social media platform, which the entrepreneur believed was much higher than the company reported.
