Twitter had to be “rescued from bankruptcy,” according to Elon Musk, and this required a lot of effort. The company has undergone significant changes and is no longer the same since Elon Musk took charge.
Elon Musk, the CEO of both Tesla and Twitter, admitted that the past three months had been “very stressful” since he “had to save Twitter from bankruptcy” while still carrying out his responsibilities at Tesla and SpaceX on Sunday. Musk acknowledged the difficulties with the microblogging platform on Twitter.
Elon Musk stated on Twitter, “The past three months have been tremendously challenging because I had to finish crucial jobs for Tesla and SpaceX while also saving Twitter from going bankrupt. I wouldn’t wish that suffering on anyone. Twitter still faces difficulties, but if we persevere, we can get it to break even. The public’s assistance is much valued!” In response to a Wall Street Journal piece, he tweeted.
According to Fox Business, Musk bemoaned the company’s “significant loss in revenue” just one week after finalising the $44 billion (about Rs. 3.6 lakh crore) agreement to purchase Twitter in October and attributed it to “activist groups lobbying advertisers.” The news source claims that he has changed a lot on Twitter since then.
Elon Musk has fired about half of Twitter’s workforce, introduced Blue, a subscription programme, and even auctioned off items from the business’ San Francisco offices, according to Fox Business. He defended the Twitter layoffs in November by asserting that the company lost $4 million (about Rs 33 crore) every day.
Twitter reportedly said that it would start charging for access to its API, which programmers use to build third-party applications. On January 13, Musk provided some of the updates that would be made to the microblogging platform starting the following week. Next week, he promised, “Bookmark button relocating to tweet details page, image length crop, and other minor bug corrections.”