Tesla and SpaceX founder Elon Musk has admitted that his recently acquired company Twitter* could go bankrupt if revenues don’t cover expenses . This is reported by Bloomberg .
According to the publication, Elon Musk told his employees that the company could face “an outflow of funds of several billion dollars” as early as next year. In this regard, Musk asked employees to speed up the process of introducing paid products on the platform. However, some Bloomberg sources believe that this does not indicate that the company is in trouble, and say that these are features of Musk’s management style. According to them, the billionaire has previously used similar methods to motivate his employees.
After buying Twitter*, Elon Musk announced that he wanted to create an open platform for discussions without censorship, and took several decisive actions: he removed top management, led the company himself and fired many employees. In addition, he announced the introduction of paid verification for users of the social network, which caused a negative reaction. Earlier, he also said that he could make the use of the social network paid and introduce a limit on the free presence on the platform.
After Musk’s actions, more than a million users left the social network. Some famous people, including model Gigi Hadid, have also announced the deletion of their accounts. Sharing this, Hadid posted a post from human rights adviser Shannon Raj Singh, who stated that all people in charge of human rights have been fired from Twitter*.
