Will Twitter Go Bankrupt? The head of the company, Elon Musk, said that the platform is no longer moving on the “fast track to failure”.
“There are a lot of things that need to be done, but overall we seem to be moving in a good direction,” the entrepreneur said.
Over the weekend, Musk took part in the “All-In” podcast and gave assurances that the company is not going bankrupt anytime soon, BTA reported.
We manage costs wisely so that the company is no longer on the fast track to bankruptcy. It was quite a wild ride. There have been ups and downs, so to speak, but overall we seem to be moving in a good direction, he remarked to listeners.
After his participation, however, he tweeted that the social network is not yet secure and there are still many things to do.
He has noticed that over time his mistakes will decrease, which were many in the beginning since he was new to the company.
The billionaire first warned of the danger of Twitter going bankrupt just weeks after taking over the platform.
Musk bought Twitter for about $44 billion in late October, then started making drastic changes to the platform and focusing on free speech. Shortly thereafter, the company lost nearly half of its top 100 advertisers, drastically reducing its revenue.
Since then, the entrepreneur has been trying to generate revenue for the social media site, including charging a subscription fee of $8 a month ($11 for iPhone users) to account holders with so-called blue badges .
