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submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

Elon Musk says Twitter's cash flow still negative as ad revenue drops 50%::Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load, Elon Musk said on Saturday, falling short of his expectation in March that Twitter could reach cash flow positive by June.

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[-] gjoel@lemmy.ml 35 points 1 year ago
[-] _Z1useri@sopuli.xyz 26 points 1 year ago* (last edited 1 year ago)

From a purely technical perspective I'm a bit confused how this clown-car has kept going for so long, after all the slash-and-burn restructuring that's happened. Hopefully there's going to be some engineers telling the story when Musk manages to fubar it after all.

[-] Koffiato@lemmy.ml -3 points 1 year ago

As far as I know, it was in a worse state. What Elon did since he took over is basically reducing the running costs heavily among other things.

People tend to forget Twitter never made money so far.

[-] _Z1useri@sopuli.xyz 3 points 1 year ago

But that included not paying for servers, firing people and finding out later that they had irreplaceable knowledge, demanding constant crunch time from the poor sods that are left and randomly turning off "unnecessary" services.

I'd be really surprised if that made the overall state better.

[-] Captain_Patchy@lemmy.world 20 points 1 year ago

The courts had BETTER fucking decide that he is personally liable to pay off the promises he made to the employees he forced or conned out.

[-] Skaryon@lemmy.world 18 points 1 year ago
[-] kiwifoxtrot@lemmy.world 10 points 1 year ago

I don't think it's possible at this point to turn a profit. There is no more fat to cut and there's no one left to develop anything new. Best case is he is able to sell Twitter at a huge loss and walk away.

[-] Naia@lemmy.blahaj.zone 7 points 1 year ago

Who is he gonna sell it to? Nobody would want it thanks to whay he did to it.

[-] aquarisces@lemmy.world 9 points 1 year ago

Damn no way

[-] BitingChaos@lemmy.world 7 points 1 year ago
[-] darko8472@lemmy.fmhy.ml 1 points 1 year ago
[-] xc2215x@lemmy.world 7 points 1 year ago

Elon has not been the best.

[-] CascadianBeam@lemmy.world 5 points 1 year ago

Cutting costs by 3 billion certainly wasn’t going to turn Twitter sustainable.

[-] Lanfordr@lemmy.world 3 points 1 year ago

Isn't his acquisition a large part of why it has such a heavy debt load in the first place?

[-] jtk@lemmy.sdf.org 1 points 1 year ago

I find it suspicious he's advertising it. There must be some personal benefit. Motivate the remaining rubes to buy the check marks? 🤔

[-] TurnItOff_OnAgain@lemmy.world 3 points 1 year ago

I'm thinking it's some sort of bankruptcy ploy

this post was submitted on 16 Jul 2023
238 points (93.4% liked)

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