Twitter is Going Bankrupt!
709,636
Published 2023-12-02
Elon Musk told advertisers who have halted spending on X due to his endorsement of an antisemitic post to “go f**k” themselves, in an unhinged interview with Andrew Ross Sorkin (who Elon calls Jonathan). Musk said that a recent exodus of big brands was “going to kill the company, and the whole world will know the advertisers killed the company”.
Musk, who bought Twitter (which he has renamed X) for $46.5 billion dollars (including transaction costs) in October 2022, dismissed the idea that he wanted advertisers to return. “If somebody is going to try to blackmail with advertising, blackmail me with money, go f**k yourself,” he said. “Go. F**k. Yourself. Is that clear, I hope it is.”
On December 10th Elon Musk reinstated the twitter account of the controversial podcaster Alex Jones reversing his statement from a year earlier to keep Jones off the social network.
Twitter makes almost all of its revenue from advertising and is saddled with $13 billion dollars of debt. Is Twitter about to go bankrupt?
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All Comments (21)
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Thank you Patrick for being one of the most trusted news sources in Hip Hop.
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It's been a year since Musk bought Twitter? Somehow it feels that this whole saga has been both far longer and far shorter than one year.
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How does a company fire 80 percent of the workforce, and close 1/3 data centers, and then double expenditures? Where's that money going if not labor and capital equipment?
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His tirade about Twitter becoming 50% of global financial system makes it obvious he didnt consult ANYBODY if that even is possible, let alone achievable with a microblogging site....
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For years, I had suggested someone buy Twitter and delete the whole thing. My dream has come true.
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Quote from about a decade ago: Twitter's business plan, such that it is, has always been something along the lines of “Get big and popular, then just flip the switch and start making money when we feel like it”. There is no switch. -- John Gruber, Daring Fireball
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1:36 LMFAO He really paused, awaiting rapturous applause. He keeps looking at the audience, trying to prompt engagement, but they werent biting and dude didn't know how to process it 😂
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Elon really did flip between "we don't need your money, stinkin advertisers" to "if you withdraw your ads, it's your fault if we go bankrupt".
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Came for the rap news, stayed for the business commentary.
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"Johnathan, the only reason I'm here is because you're a friend" "I'm Andrew" ♫Inception horn♫
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You gave me a good laugh when you said that if Elon wanted to get into financial payment systems, maybe he should have bought a bank.
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I simply respect people who call Twitter - Twitter.
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I always call my friends Jonathan when I forget their names.
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Musk seems to think that most people give a shit if twitter lives or dies
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"X" by name, "ex" by nature.
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I waited for Jonathan Andrew to just ask the obvious after Musk said "the Earth will know that advertiser boycott killed Twitter": -"...So?"
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Andrew is now Jonathan, Elon's rebranding process in real time.
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Crazy to think Twitter, an online space, lost money in 2020, when people were actually living online.
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If Twitter goes bankrupt I probably won’t know about it until at least a week maybe more.
