{"id":15839,"date":"2022-12-26T00:25:47","date_gmt":"2022-12-26T00:25:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/twitter-no-longer-in-fast-lane-to-bankruptcy-featured-bitcoin-news\/"},"modified":"2022-12-26T00:25:47","modified_gmt":"2022-12-26T00:25:47","slug":"twitter-no-longer-in-fast-lane-to-bankruptcy-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/twitter-no-longer-in-fast-lane-to-bankruptcy-featured-bitcoin-news\/","title":{"rendered":"Twitter No Longer in Fast Lane to Bankruptcy \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Tesla CEO and Twitter chief Elon Musk has confirmed that the social media company is no longer \u201cin the fast lane to bankruptcy.\u201d Nonetheless, the billionaire emphasized that there is still much work to do on the platform. \u201cBut overall it seems to be going in a good direction.\u201d<\/strong><\/p>\n

Twitter Won\u2019t Go Bankrupt Anytime Soon, Says Elon Musk<\/h2>\n

Tesla CEO and Twitter chief Elon Musk revealed over the weekend that Twitter will not be filing for bankruptcy anytime soon. He said on the All-In podcast Saturday:<\/p>\n

\n

We\u2019ve got the expenses reasonably under control, so the company\u2019s not in the fast lane to bankruptcy anymore.<\/p>\n<\/blockquote>\n

\u201cIt has been quite a roller coaster,\u201d he added. \u201cIt has its highs and lows, to say the least, but overall it seems to be going in a good direction.\u201d<\/p>\n

Following the podcast, Musk tweeted clarifying that Twitter is not secure yet and there is still \u201cmuch work to do.\u201d<\/p>\n

\"\"<\/a><\/p>\n

The Twitter boss further shared on the podcast: \u201cMy error rate and sort of being the chief twit will be less over time but, in the beginning, we\u2019ll make a lot more mistakes because I\u2019m new \u2026 Hey, I just got here, man.\u201d<\/p>\n

He continued: \u201cIf you look at the actual amount of improvement that has happened at Twitter in terms of having costs that aren\u2019t insane and shipping product that, on balance, is good, I think that\u2019s great \u2014 We\u2019re executing well, and getting things done.\u201d<\/p>\n

The billionaire first warned about the prospect of bankruptcy for Twitter just a few weeks after he took over<\/a> the social media platform. Sharing Twitter\u2019s financial troubles<\/a> in his first email to Twitter employees in November, he wrote:<\/p>\n

\n

The economic picture ahead is dire \u2026 Bankruptcy isn\u2019t out of the question.<\/p>\n<\/blockquote>\n

After purchasing Twitter for about $44 billion at the end of October, Musk immediately made some drastic changes<\/a> 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\u2019s revenue. Musk has been trying to generate income for the social media company ever since, including charging $8 a month for the Twitter blue checkmark<\/a> ($11 for iPhone users).<\/p>\n

Musk recently promised<\/a> to step down as head of Twitter. \u201cI will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,\u201d he tweeted last week.<\/p>\n

Do you think Elon Musk is doing a good job running Twitter? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n