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Twitter bankruptcy is possibly coming as Elon Musk states 

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Twitter was not a very successful social media commercially, before Elon Musk successfully purchased it. Even though it was one of the most used and popular networks in the world, it cannot compete with rivals like FaceBook, TikTok or YouTube. However, the idea of Twitter bankruptcy has never been mentioned ever before, until now.

Source: CBS

As the finish of the acquisition of Twitter by Elon Musk, the multimillionaire has attempted to push its staff, executives and chiefs to reschedule, replan devotedly so that the company might make more money in the future. Apparently, Twitter sounds like a huge platform which holds a massive userbase and advertising revenue. However, in fact, it does not make quite a lot of money. 

Musk spent $44 million on Twitter plus saddled it with $13 billion in debt. Its debt is such a big deal for a company the size of Twitter. To be exact, its earnings in 2022 is only one seventh of its total debt. Last year, the company had to pay $632 million for the debt payments. The issue of Twitter is probably more serious than anyone could have imagined.     

Source: CBS

It’s not that difficult for Musk to find investors or even use his own fortune to financially support the company. However, if it does not work out that way, Twitter is likely to be bankrupt. Twitter’s bankruptcy will not be completely negative since the company might be refinanced and will be more financially stable. Significantly, it sounds like a chance to rearrange and reorganize the company and its operation. So even if the bankruptcy is really going to happen, the platform itself will still operate as present without any change.  

The mercurial businessman estimated that Twitter was losing around $3 million a day. He also tried to lay off half of the staff, around 3,700 employees. This discharge has had a chaotic effect on the running of the platform, however, the money for salary has been cut down. Another movement that he made changes is the launching of Twitter Blue. It charges users $8 per month for the once-coveted blue check. However, this service was stopped immediately after a few days. 

Source: Forbes

Seemingly, Musk and his companions still have a lot of things to do in the following time to make Twitter work more probably. At the same time, META also fired thousands of employees from FaceBook and Snap. Things are also kinda similar to Spotify and Google’s YouTube. It is already a great challenge to make profit off this platform, currently at least. 

For more latest updates and news, make sure to visit http://aubtu.biz on a daily basis.  

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