4 ms·
It's interesting to consider that the company was profitable in 2018 ($1.2B) & 2019 ($1.4B) [0]. It would have also been profitable in 2021 if not for a $900 m
by everly 4y ago
It's interesting to consider that the company was profitable in 2018 ($1.2B) & 2019 ($1.4B) [0].
It would have also been profitable in 2021 if not for a $900 million lawsuit settlement hitting the books.
It was by no means a sinking ship until the acquisition and subsequent "improvements".
Perhaps they'll turn it around but there was probably a more predictable path back to profitability than the one Musk chose.
[0] https://www.statista.com/statistics/274563/annual-net-income-of-twitter/ https://www.statista.com/statistics/274563/annual-net-income...
- miohtama 4y agoWhile Twitter itself is not a sinking ship, the current equity holders are. The debt cost will be ~1.5B this year. The current equity holders will be diluted thru a new funding or thru a bankruptcy liquidation, though I feel it's unlikely Elon let's it go that far.