Elon Musk

Twitter 'not on the fast lane to bankruptcy anymore', Says Elon Musk

Twitter 'not on the fast lane to bankruptcy anymore', Says Elon Musk

Image: Showmetech

The functioning of Twitter is becoming more and more stable, as work is going in the right direction. The platform is “not on the fast lane to bankruptcy anymore,” says Elon Musk, but admits there is “still much work to do.”

Buying Twitter for Elon Musk was not easy and his takeover was rocky. The new owner had to make a number of very difficult decisions in order to radically reduce the expenses of Twitter while developing the platform and making it better. Musk's actions were met with a lot of negativity from political organizations, journalists, and advertisers, which led to another big storm, but it seems that now the ocean is calming and you can see the first results of the work done.

Last month, in the first two weeks after buying the platform, he warned Twitter employees that the company might not survive the upcoming economic downturn and go bankrupt. But Musk's actions since then have improved the company's overall position. In an All-In podcast Saturday, he said the journey has been a rollercoaster ride, with ups and downs, and the goal is to keep expenses under control.

“It has been quite a rollercoaster… It has its highs and lows, to say the least, but overall it seems to be going in a good direction.

“We've got the expenses reasonably under control, so the company's not on the fast lane to bankruptcy anymore.”

Later in a tweet, he added: “Twitter isn't secure yet, just not in the fast lane to bankruptcy. Still much work to do.”

Musk explained that he is new to the field of social networks, so he makes a lot of mistakes. It is also happening because he is looking to quickly take Twitter to a whole new level by implementing a lot of changes. Musk said that as he gains more experience, the number of mistakes he makes will decrease.

“If you're going to swing for the fences, you're going to strike out a bit more.

“But we're going to swing for the fences here at Twitter, and we're going to do it quickly.

“My error rate and sort of being the chief twit will be less over time but, in the beginning, we'll make a lot more mistakes because I'm new… hey, I just got here, man.

“If you look at the actual amount of improvement that has happened at Twitter in terms of having costs that aren't insane and shipping product that, on balance, is good, I think that's great - we're executing well and getting things done.”

© 2022, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts; follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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