Twitter head Elon Musk has confirmed that the social media platform is not “in the fast lane to bankruptcy.”
However, Musk mentioned that there’s tons that must be achieved on the platform. “But overall it seems to be going in a good direction,” he mentioned.
Musk mentioned over the weekend on the All-In podcast that the corporate won’t be submitting for chapter quickly.
He mentioned, “We’ve got the expenses reasonably under control, so the company’s not in the fast lane to bankruptcy anymore. It has been quite a roller coaster. It has its highs and lows, to say the least, but overall it seems to be going in a good direction.”
Following the podcast, Musk tweeted saying that Twitter isn’t safe but and there’s nonetheless “much work to do.”
The Twitter boss additional shared on the podcast: “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.”
He added, “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.”
The billionaire first warned concerning the prospect of chapter for Twitter just some weeks after he took over the social media platform.
Sharing Twitter’s monetary troubles in his first e-mail to workers in November, he wrote, “After purchasing Twitter for about $44 billion at the end of October, Musk immediately made some drastic changes to the platform as he focused on free speech. Soon the company lost half of its top 100 advertisers which made up a large chunk of Twitter’s revenue.”
Musk has been attempting to generate revenue for the social media firm ever since, together with charging $8 a month for the Twitter blue checkmark ($11 for iPhone customers).
