With unparalleled aplomb, Elon Musk recently reported that Twitter, which he bought for $44 billion in October 2022, had lost approximately half of its advertising revenues. “We’re still in a negative cash flow situation, due to a drop of about 50% in advertising revenues and the heavy debt load,” the billionaire replied on Twitter to an Internet user who was making strategic suggestions about the network with the bluebird.
“We need to get to positive cash flow before we have the luxury of doing anything else,” he added, without elaborating further. The changes initiated by Elon Musk since his takeover of Twitter have displeased network users and advertisers alike.
Earlier this spring, Insider Intelligence reported that Twitter was set to earn less than $3 billion in 2023, almost a third less than in 2022. Since then, the billionaire has made other announcements that have displeased Internet users, such as his intention in early July to restrict the reading of tweets to 10,000 per day for verified (i.e. paying) accounts, 1,000 for others and even 500 for new accounts.
A few days later, a new announcement was made: the Tweet Deck application, widely used by news professionals, would be reserved for certified, i.e. paying, accounts over the next month. Twitter, in the Musk era, is still in a state of cacophony.
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