After the purchase of Twitter by Elon Musk, the new CEO came to explain that the positioning of the social network was very different from what was presented. Difficult decisions were made and even misunderstood, calling into question the leadership ability of Tesla’s strongman.
Now, the scenario could start to make sense, with some information shared by Elon Musk himself. Twitter’s new CEO has revealed that the social network already has only $1 billion in cash, which is a very small amount.
In one of his conversations with Twitter users, Elon Musk revealed the latest update on the social network's financial situation.
In one of his Twitter spaces, Elon commented on the remaining 1 billion, as well as some additional data.
Twitter only has about a billion dollars in cash.
I've spent the last five weeks cutting costs at the company because times are tough.
This fact was actively demonstrated by Elon Musk, with all the measures he applied to control expenses and costs on this social network. At the same time, it was trying to bring back advertisers.
An example of this concern is Musk's performance on Twitter in the past five weeks. He personally controls the difficult life of the company. The entrepreneur understands that these are tough times for the social network and therefore needs a greater commitment.
Going as usual, Elon Musk also revealed what the process of running Twitter was like. The best analogy he could find to describe it is that of a plane crashing without control or the ability to recover on its own.
If you look at the current situation from my perspective, I think I run a company, Twitter, which is like a plane that took off straight to the ground with its engines on fire.
Interestingly, Elon Musk's latest actions on Twitter were far from guaranteeing any capital flow to the social network and company. We are talking about blocking other social networks, accounts of some journalists and other unusual situations.
The social network is expected to engage and grow again, with or without Elon Musk taking over as CEO, which is guaranteed to be let go soon. It remains to be seen if it will be met this time and even quickly to keep Twitter.
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