Nothing has been going well for Twitter since Elon Musk took over the reins in November 2022. The mogul posted a reassuring message yesterday. However, the coming months promise to be turbulent for the company.
The galleys accumulate for Twitter since Elon Musk bought the platform for $44 billion Last year. While he had insinuated a few months ago that the service was going bankrupt, the businessman with multiple passports split from a publication which should reassure Twitter members about the future of the platform.
Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone.
Twitter still has challenges, but is now trending to breakeven if we keep at it. Public support is much appreciated!
— Elon Musk (@elonmusk) February 5, 2023
“The last three months have been extremely difficult, as it took save Twitter from bankruptcywhile performing essential tasks for Tesla and SpaceX […] Twitter still has challenges ahead, but the trend now is to return to balance if we continue. Public support is greatly appreciated! “. As often with Me Musk, his message does not say it all.
Twitter is no longer at risk of bankruptcy, but it must start paying off a huge loan
The president has indeed committed to repaying the first installments of the debt he has contracted with a consortium of banks from February 2023. And to reduce costs, Me Musk is taking a number of questionable decisions: laying off 50% of Twitter employees, revamp the Twitter Blue subscription, stop paying rent for its headquarters and service providers, or charge for access to the platform’s API.
Twitter Blue has only 300,000 subscribers worldwide, and logically, the social network is being sued by its creditors. The idea of restricting access to the API does not meet with a more favorable echo, because however questionable the personality and decisions of its CEO may be, Twitter remains an essential communication and exchange tool for many researchers, journalists and activists from all over the world. Forcing these people to pay would, experts say, “disproportionately impact less well-funded programs. Access to data is a fundamental constituent for transparency”. In other words, freedom of expression and civil society would bear the brunt of such a decision.
Source : Ars-Technica
