Elon Musk talks about a possible Twitter failure

The future is very exciting, I can’t wait to make it happen with youthe new boss said Thursday at the start of an internal meeting for employees who weren’t fired during the mass layoffs a week ago.

But the threat of bankruptcy came when he later admitted that he didn’t know how big the company was. lack of income next year.

We could be in a cash flow deficit of billionshe said, according to messages among employees consulted by the AFP. If there is a long and deep recession, we will have to be able to surviveHe continued.

In an internal letter the day before, he had written to them that the road would be labour intensiveand that now they had to do ithours per week “,” text “:” to be in person in the office at least 40 hours per week “}}”>be in person in the office at least 40 hours per week.

Employees also questioned him about the risks associated with the rapid deployment of new untested features, the method preferred by the head of Tesla and SpaceX.

Because the American Competition Authority (FTC) issued a rare warning against the platform on Thursday. We are following recent Twitter developments with great concern. No CEO or company is above the lawa spokesperson for the FTC.

He recalled that the platform must comply with the rules of an agreement with the agency on data security and confidentiality.

The agreement in question, revised this year, it offers us new tools to ensure that it is respected and we are ready to use themthe spokesman added, with reference to the substantial pecuniary sanctions that art FTC could inflict.

However, many employees aware of these regulations are no longer on Twitter.

Mass layoffs and resignations

The Tesla and SpaceX boss fired half of the Californian company’s 7,500 employees a week ago, ten days after buying it and becoming its sole owner on board.

Hundreds of people had already left this summer and the resignations of the executives have continued in recent days.

On Thursday, Damien Kieran, head of data privacy, and Lea Kissner, head of security, announced their departure.

Other directors have also decided to step aside, according to US media, including Yoel Roth, the site’s security manager, and Robin Wheeler, an executive responsible for customer solutions.

Both had so far publicly defended Twitter and its controversial new owner.

AmenRobin Wheeler stated multiple times on Wednesday when Elon Musk detailed his vision for the digital public squareduring an online conference for advertisers.

Yoel Roth has intervened on multiple occasions to explain the changes or to ensure that the fight against disinformation remains a highest priority.

Reduction of advertising

But the power of the libertarian entrepreneur on the very influential social network worries many authorities, advertisers, users and associations for the defense of minorities.

He tried to reassure, recalling that the moderation of content, to protect abuse on the platform, had not changed for the moment.

But his hasty decisions and Twitter taunts have ignited daily controversy for two weeks.

Several advertisers have suspended spending on the Twitter network, whose business model is 90% dependent on advertising.

Insider Intelligence lowered its forecast for Twitter ad revenue by 39% in 2023 and 2024.

Elon Musk wants to diversify sources of income, from subscriptions for users to content creation tools for influencers.

It is not boringyour moss

But the cacophonous launch of Twitter Blue, the new $ 8-a-month account authentication formula, resulted in conflicting official statements and the eruption of fake profiles.

Keep in mind that Twitter will do a lot of stupid things in the coming months. We will keep what works and change what doesn’ttweeted the multimillionaire.

Earlier in the week, it sold nearly $ 4 billion in shares of its flagship Tesla. I did it to save Twitterhe told employees Thursday.

Elon Musk wanted to buy the Californian company in the spring, then he no longer wanted it in the summer, and was forced to acquire it in the fall to avoid a lawsuit, putting it heavily in debt.

On Thursday he claimed it using Twitter keep going up and added:: it’s not boring “,” text “:” One thing is certain: it’s not boring “}}”>One thing is certain: it is not boring.

This whole Twitter circus has to stop … It damages the brand image [de Tesla]commented analyst Dan Ives on Thursday.