There has been a lot going on with Twitter in the past few weeks. Mass layoffs, $8 Blue verification, and now, even talks about bankruptcy. After laying off around 7500 employees and paying $44 Billion for the social network, his first email to the employees went- “Sorry that this is my first email to the whole company, but there is no way to sugarcoat the message, “Without significant subscription revenue, there is a good chance, Twitter will not survive the upcoming economic downturn.”
And to add to this story, a few days back, Musk sold shares of Tesla worth $4 Billion, which he then justified for saving Twitter. On top of mass layoffs and unwelcome platform changes, Musk told employees that he requires them to come to the office and work 40 hours per week, ending the company’s work-from-home policy and that he would personally read and approve work-from-home requests.
Twitter recently launched the Blue verification for $8 which then had to be shut down temporarily because of a few imposters and scam accounts trying to impersonate others and even companies. The latest example was Lockheed Martin.
Even though there is a lot of criticism around Musk and his latest acquisition of Twitter, many, including him believe that Twitter has massive potential and could be worth trillions if executed successfully.
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One response to “Twitter may soon go bankrupt, says Elon Musk”
[…] his other projects and they think that Musk is getting less concerned with Tesla day by day, surely after he sold more Tesla stock worth $4 Billion a few weeks back to save Twitter. Investor confidence has been down since the past few […]