![]() ![]() One of Twitter's problems is the $13 billion of debt Musk used to fund his takeover, which resulted in interest payments totaling $1.5 billion a year. ![]() After the cost-cutting spree, he reportedly said on a podcast in late December that "we've got the expenses reasonably under control, so the company's not in the fast lane to bankruptcy anymore." He reduced Twitter's expenses by laying off half its staff, terminating thousands of contractors, and issuing an ultimatum that caused many employees to resign. Musk had said on November 4, 2022, that Twitter was losing over $4 million a day. Twitter still has challenges, but is now trending to breakeven if we keep at it. In a tweet on Sunday, Musk said he's had an "extremely tough" three months because he "had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. A new report says an attempt to boost Twitter Blue subscription revenue isn't paying off much yet, and a plan to charge for API access has angered users and developers. But it’s absolutely clear that the longer you have any authority at Twitter, the worse things will get.Elon Musk says Twitter has stabilized its finances after being close to bankruptcy, but the company still faces money problems and at least seven lawsuits alleging it stopped paying bills after Musk bought the social network. ![]() Its annual losses may not shrink, and may even grow larger. It may not turn a profit in the next five years. Twitter may, in the end, not be salvageable. Disbursement will also be triggered if you file any litigation in any court to abrogate this contract. I should have mentioned that to enforce these terms, you will have to place $50 million in the same escrow account mentioned above, to be disbursed upon any violation of terms, including unauthorized tweeting, unsolicited advice on policies or personnel, or any denigration of Twitter or its employees or executives in any forum. Twitter needs a truly independent CEO who doesn’t report to you in any way and isn’t subject to your oversight. You have had your fun now the only way Twitter can survive is if advertisers and users are confident that you have no say in how it operates. That means that its terms of service must be clear, explicit and enforceable. ![]()
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