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Ok let’s assume your numbers are in the ballpark and he’s saving $1b annually on salaries and ancillary expenses. Problem is he’s also loaded Twitter with sign
by ipython 3y ago
Ok let’s assume your numbers are in the ballpark and he’s saving $1b annually on salaries and ancillary expenses.
Problem is he’s also loaded Twitter with significant debt to take it private. Estimated interest payments alone total to over $1.2b annually - so… we are actually losing an additional $200m annually even after firing 75% of the staff.
- DoesntMatter22 3y agoHe's said in a Twitter spaces that he's reduced the expenditures down to basically the interest payment and another billion and a half on top of that. A large part of the reduction was shutting down a lot of the unused servers. So 2.5 billion in expenses. In 2021 Twitter had Revenue of 5 Billion. So obviously they have lost a lot of revenue, as Elon himself has admitted. But between the cuts they are close to breakeven. Now with a new CEO who is much more advertiser friendly they are going to get a lot more advertisers back. She will be the new face of the company. Then, likely they will start paying down that debt. Each time they do their burden will be less. Tesla is the most profitable car company per car. Musk isn't going to have a problem making Twitter profitable, though he put himself behind the 8 ball.
- ipython 3y agoWay behind the eight ball. He managed to take an already toxic platform and make it worse (somehow). When I visit it, not logged in, all I see are promoted Musk tweets and stupid memes totally unrelated to the content I just viewed. Makes it entirely unpalatable for me. As they say, at least it’s not rocket science. Except in this case apparently running a social media site is actually more difficult than rocket science.