Elon Musk noticed that severe cost cuts Chirping They managed to repair the company’s dire finances while looking for someone to replace it at the helm of the social network.
In a live chat forum, the mogul said that without the changes, including laying off more than half of Twitter’s employees, the company would lose $3 billion a year.
“It’s not good because Chirping He has a billion dollars in cash. That’s why I’ve spent the last five weeks cutting costs like crazy,” said on Twitter Spaces, a platform feature purchased for $44 billion.
“Yeah… you’re looking at it from my point of view… basically, you’re on a plane heading towards the ground at high speed with the engines running and the controls not working,” he said.
layoff after layoff
I just became the owner of ChirpingMusk laid off about half of its 7,500-strong workforce, prompting concerns that the company didn’t have enough staff to carry out content moderation tasks. Questions have also been raised from governments and advertisers.
Musk said his strategy was paying off, and by cutting costs and boosting subscriber revenue, he now believed that “Chirping will do well next year” and break even.
The Tesla and SpaceX chief added that he understood advertisers were afraid to spend on his platform, but attributed their caution to the poor economic outlook, not concerns about content moderation.
He said the new $8-a-month subscription service for verifying account holders’ identities, called Twitter Blue, would help bridge the gap.
“Otherwise, how are we going to pay the server bill?” Musk wondered, adding that server hardware Chirping It costs about $1.5 billion a year.
Looking for a ‘stupid replacement’
Musk came to his defense of his policies after tweeting that he was looking for a new CEO “dumb” enough to replace him.
He said he would then limit his duties to managing the server software and teams Chirping.
This came after Musk asked in a poll by Chirping whether he should remain as CEO of the company: 57% of users voted for his resignation.
This isn’t the first time Musk has used polls Chirping to make decisions on the platform it has already done so, for example, with the restoration of the account of former US president Donald Trump. (AFP)
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