In a podcast published over the weekend on YouTube, Elon Musk claimed that Twitter is “no longer on the fast track to bankruptcy” while admitting that efforts are still needed.
Since he took over Twitter last October, Elon Musk has multiplied experiments of all kinds: the number of interactions generated by a tweet is now displayed, and the multibillionaire has even announced that he will leave the management of the social network, in consistent with results of the survey, which he himself posted online on Monday.
In a podcast published this weekend on YouTube, Elon Musk says more about Twitter’s financial situation: “It’s a real rollercoaster… There are ups and downs, that’s the least we can say, but overall it seems to be going in. the right direction,” he said. “We have managed to control expenses, so the company is no longer on the fast track to bankruptcy.”
An uncertain financial future
Despite the takeover of Twitter for $44 billion, the company’s financial health is in question: Two weeks after taking control, Elon Musk had warned employees that the company could not “survive the next economic recession”. This is what could have motivated him to lead the dismissal of more than half the workforce – before he changed his mind in extremis.
It must be said that the stakes are high, because the boss of SpaceX had to sell almost 4 billion dollars of Tesla shares to afford the network for the blue bird. His controversial political views have also chilled some of the platform’s advertisers.
“My error rate and my role as chief tweeter will decrease over time, but initially we will make many more errors because I am new”, he defends himself. Whether that will be enough to pay for him remains to be seen. interest on the debt of more than 12 billion euros that he took on to buy Twitter.