Twitter could go bankrupt, assumed by the new CEO and owner of the social network, Elon Musk.
As it is known, at the end of October, the billionaire owner of Tesla and SpaceX, Elon Musk, acquired Twitter for 44 billion USD. Today, according to Musk, Twitter is in danger of bankruptcy, if urgent measures are not taken in the form of significant financial injections.
“Without significant subscription revenue, there is a good chance Twitter will not survive the coming economic downturn”, the billionaire told the Associated Press. He also mentioned that the social network suffers losses of up to 4 million USD per day.
Previously, Twitter's revenue was made up of advertising revenue, but now Musk intends to rely on paid services. Among these is the verification of the authenticity of your account for 8 USD per month.
It's also going to be tough times for Twitter employees, Musk warns. He began by laying off half the workers already, banning remote work and warning of a doubling of work hours per week.
