this post was submitted on 09 Jul 2023
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Twitter was hemorrhaging money most of the time before his purchase anyway. There may have been a year or two that they were profitable but it was more typically losing hundreds of millions of dollars every year. That said, I'm sure his management has accelerated losses. And honestly the leveraged buyout to take it over pretty much ensures the company is on a fast track to bankruptcy.
True, however from what I've read, they've lost a lot of ad revenue since Musk took over. Estimates say over 50% lost ad revenue in the U.S., almost 30% worldwide.
Yes but it wasn't on loan with interest. They were working off investor cash, Musk is working with loans.