Elon Musk has agreed to a tweet that Twitter was initially headed to bankruptcy and is now headed towards sustainable profitability for the first time. The tweet clarified the misconception that he was destroying Twitter.
Elon Musk's Purchase of Twitter has been the Talk of the Town
SpaceX and Tesla CEO Elon Musk completed his purchase of Twitter last month for $44 billion, as detailed in an article by The New York Times. Now, many eyes are on him and his moves that attempt to bring the company to profitability.
One of his major moves included turning the blue checkmark into a subscription model where to get verified; users have to pay $8 a month. As seen on Twitter, the $7.99/month fee is an "introductory offer" for users on the platform to get a blue checkmark.
Some of Musk's Moves have been Criticized Like His Decision to Mass Layoff Employees
Another move that is now highly criticized is Elon Musk's massive layoffs. Since his entrance to Twitter, the new CEO has let go of multiple employees, even Parag Agrawal, the CEO of Twitter, after Jack Dorsey.
Musk has also made headlines due to his decisions to help reduce the costs of Twitter. Some of these decisions include cutting off the free meals, which would help the company save a whopping $13 million yearly.
Musk has been Criticized for His Decision to Remove Free Lunch for Twitter Employees
When criticized for his decision, Musk noted that many employees do not go to the office anyway. He then said that the cost of lunch was $400 per day. This meant the company was spending an excess of millions per year, although it was yet to be profitable.
A tweet by Whole Mars Catalog shared that many people have the misconception that Elon Musk is destroying Twitter. This is evident in his many critics, who even involve celebrities and actors exiting the platform.
Yep
— Elon Musk (@elonmusk) November 16, 2022
Elon Musk Agreed that Twitter was Headed to Bankruptcy but is Now Headed Towards 'Sustainable Profitability'
The Twitter account then noted that the reality is that Twitter was headed to bankruptcy and is finally headed towards "sustainable profitability" for the first time. Elon Msk gave a simple reply of agreement, "yep."
Some people argue that these moves by Musk are geared toward profitability. As seen in his track record, Elon Musk has had success after success, even with his earlier companies like X.com, which turned into PayPal.
Read Also: Elon Musk Wants Twitter Employees to Work Long Hours! What Will Happen to Non-Compliant Staff?
Other Musk Companies Include Tesla and SpaceX
Musk also still has Tesla and SpaceX. Because of his success with his other companies, some people are confident in his ability to make Twitter profitable, as seen in the tweet sharing how the platform is finally heading toward sustainable profitability.
Engineers have been working hard to improve the platform, as seen in an article by MIT Technology Review, which shared the different ways Twitter is expected to improve.
Related Article: Twitter Employee Who Fact-Checks Elon Musk Now Fired; Billionaire Confirms Termination Via Tweet
This article is owned by Tech Times
Written by Urian B.
