‘Had to save Twitter from bankruptcy’: Elon Musk reveals ‘extremely difficult’ period after Twitter takeover
Twitter and Tesla CEO Elon Musk on Sunday said the past three months have been “extremely difficult” as he “had to save Twitter from bankruptcy” while also completing his duties at Tesla and SpaceX. Talking about his official Twitter account, Musk said that the microblogging site continues to have challenges.
Elon Musk tweeted, “The past 3 months have been extremely difficult, having to save Twitter from bankruptcy, while meeting essential needs Tesla & space duty. Wouldn’t want that pain for anyone. Twitter still has challenges, but is now trending toward breakeven if we keep it up. Public support is greatly appreciated!” He tweeted in response to The Wall Street Journal’s article.
Musk lamented the company’s “massive decline in revenue” just a week after closing a $44 billion (approximately Rs 3.6 lakh) deal to buy Twitter in October, which he attributed to “Activity groups put pressure on advertisers,” Fox Business reported. Since then, he’s made a number of changes on Twitter, according to the report.
The past 3 months have been extremely difficult, both saving Twitter from bankruptcy and completing the essential tasks of Tesla & SpaceX. Wouldn’t want that pain for anyone.
Twitter still has challenges, but is now trending toward breakeven if we keep it up. Public support is much appreciated!
– Elon Musk (@elonmusk) February 5, 2023
Elon Musk has cut Twitter’s staff by about half, introduced an improved Blue microblogging site subscription service, and even auctioned off memorabilia from the company’s San Francisco headquarters, Fox Business reports. . He defended Twitter’s layoffs in November, noting that the company was losing $4 million (about Rs 33 crore) a day.
Recently, Twitter announced that it would start charging for access to its API, which developers use to create third-party services, according to news reports. Earlier on January 13, Musk revealed a number of changes that will be introduced on the microblogging platform from next week onwards. He wrote, “Bookmarks button jumps to tweet details page, fixes cropping of image length and fixes other minor bugs next week.”