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Musk: “I saved Twitter from $3B shortfall by ‘cutting costs like crazy’”
- jfengel 4y agoAnd how much recurring revenue did you lose?
- badwolf 4y agoHow much of that is due to the debt he himself laid on the company in his leveraged buyout? "I set this building on fire, and put a lot of the fire out!"
- BulgarianIdiot 4y agoBasically all of it. 1+ billion from the interest rate on his own loan, and 2+ billion from lost ad revenue, which sure: the upcoming recession affects ad revenue. But his antics made it probably at least 10x worse, immediately.
- BulgarianIdiot 4y agoBTW some of the cost cutting measures: - Not paying outstanding invoices for flights, software licenses. - Not respecting current partner contracts. - Selling furniture and equipment from the offices for peanuts. - NOT PAYING RENT. - Not paying severance for many (not all, but many) of the laid off employees.