Elon Musk means of trepidation. Because, Twitter threatened bankruptcy amidst the departure of a number of business leaders to potential US privacy violation cases.
More recently, Twitter head of information security Lea Kissner and Twitter head of integrity and security Yoel Roth chose to leave after Elon Musk mass fired 3,700 employees.
Musk warned that the company could lose billions of dollars next year and did not rule out falling into bankruptcy.
In Musk’s first email to the company, he warned that Twitter would not be able to survive the impending economic crisis. Also, if the company fails to increase subscription revenue to compensate for the decline in advertising revenue.
On the other hand, the US Federal Trade Commission (FTC) said it looked at Twitter with deep concern after three of its privacy and compliance leaders quit.
“We spoke with the FTC today about our ongoing obligations and ongoing constructive dialogue,” wrote Elon Musk’s attorney Alex Spiro. ReutersFriday (11/11).
However, Twitter, Musk, and Spiro did not respond to requests for comment on the potential bankruptcy until the FTC’s warning.
“No CEO or company is above the law and companies must follow our approval decisions. Our revised approval order gives us new tools to ensure compliance and we are ready to use them,” said Douglas Farrar, Director of public affairs of the FTC.
Last May, Twitter allegedly agreed to pay $ 150 million to settle FTC allegations that it misused personal information, such as phone numbers, to target ads to users.
Now, Musk is in danger of being abandoned by advertisers. In fact, he even asked advertisers to continue using his social media platform.
The richest man in the world said he will make various efforts, including developing and adding features to reassure advertisers that they don’t need to worry about moderating Twitter content in the future.
(sk / sr)