Elon Musk Says 'We Had To Keep Twitter From Going Bankrupt'

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Elon Musk Says 'We Had To Keep Twitter From Going Bankrupt'
06 Feb 2023
5 min read

News Synopsis

Elon Musk, the CEO of Tesla and Twitter, stated on Sunday that the past three months had been "extremely tough" since he "had to save Twitter from bankruptcy" in addition to performing out his duties at Tesla and SpaceX. Musk acknowledged the difficulties with the microblogging platform on his official Twitter account.

Musk stated on Twitter, "Last 3 months extremely tough."

Tweeted Elon Musk,  "Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn't wish that pain on anyone. Twitter still has challenges but is now trending to breakeven if we keep at it. Public support is much appreciated!".  He tweeted in response to a news story from a media agency.

One week after completing the USD 44 billion acquisition of Twitter in October, Musk lamented the company's "huge loss in revenue," which he attributed to "activist groups pressuring advertisers," according to Fox Business. According to the news article, he has changed a lot on Twitter since then.

About half of Twitter's workers were cut by Musk.

According to Fox Business, Elon Musk has reduced Twitter's workforce by almost half, launched a revamped Blue subscription service, and even auctioned off memorabilia from the company's San Francisco headquarters. In November, he defended Twitter's layoffs by pointing out that the company was losing USD 4 million every day.

To access Twitter's API, fees will begin to be charged.

According to the news article, Twitter has stated that it will begin charging a fee for access to its API, which developers use to create third-party services. On January 13, Musk previously disclosed some of the alterations that would be made to the microblogging site starting the next week. He stated, "Bookmark button moving to tweet details page, fixing image length crop & other minor bug fixes next week."

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