Elon Musk says he saved Twitter from bankruptcy, but profits are far from there

Galleys have been piling up for Twitter since EIon Musk bought the platform for $44 billion Last year. A few months ago, the businessman with multiple passports snapped out of a post while implying that the service had gone bankrupt. Reassuring Twitter members about the future of the platform.

“The past three months have been extremely difficult. save Twitter from bankruptcyWhile performing the necessary tasks for Tesla and SpaceX […] Twitter still has challenges ahead, but the current trend is to return to balance if we keep going. Public support is greatly appreciated! “. Me often with Musk, his message doesn’t say it all.

Twitter is no longer at risk of going bankrupt, but it needs to start paying off a big loan

The President has indeed committed to repay the first installments of the debt he has contracted with a bank consortium from February 2023. And to cut costs, Me Musk is making a series of dubious decisions: lay off 50% of Twitter employees, stop paying rent for Twitter Blue subscription, headquarters and service providers, or platform API access fee.

Twitter Blue has only 300,000 subscribers worldwide and, logically, is being sued by the social network’s creditors. The idea of ​​restricting access to the API doesn’t have a more positive resonance, because no matter how questionable its CEO’s personality and decisions, Twitter remains an important communication and exchange tool for many researchers, journalists, and activists everywhere. World. According to experts, forcing these people to pay “disproportionately affects less well-funded programs. Access to data is an essential component of transparency”. In other words, freedom of expression and civil society will bear the brunt of such a decision..

Source : Ars-Technica