Twitter bankruptcy – pressnews

Here’s Why Elon Musk’s Talk of a Twitter Bankruptcy Is Premature

13Nov

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Technology

Here’s Why Elon Musk’s Talk of a Twitter Bankruptcy Is Premature

[ad_1] In a call with employees on Thursday, Twitter Inc.’s new owner, Elon Musk, raised the specter of bankruptcy for the social-media company if it doesn’t start generating more cash. In a call with employees on Thursday, Twitter Inc.'s new owner, Elon Musk, raised the specter of bankruptcy for the social-media company if it doesn't start generating more cash.It was a surprising scenario to envision for a company he had purchased for $44 billion just two weeks earlier, in part with $13 billion of loans from Wall Street banks. It may be nothing more than a scare tactic as he moves aggressively to reshape the company by slashing staff, shaking up its operations and doing away with Silicon Valley perks like remote work and free food. Musk has, after all, been known to throw around the...

Twitter Is Wrecking the Elon Musk Aura That Fueled Tesla

[ad_1] The auto company’s value has plunged by $644 billion this year as its billionaire CEO tends to his newest distraction. Elon Musk's initial motivational address to the social experiment now referred to as “Twitter employees” didn't bury the lead: Musk Warns Twitter Bankruptcy Possible as Senior Executives Exit Bursts of hyperbole are, of course, Musk's oeuvre — “funding unsecured,” as it were — which is why he took so effortlessly to Twitter in the first place. You could say that also makes him Twitter's natural owner but (a) I mean, just look and (b) we've all been warned about the consequences of folks getting high on their own supply. There is an alternate reality in which, earlier this year, Musk did not decide, seemingly on a whim, to buy Twitter and instead just kept using...

Elon Musk warns of Twitter bankruptcy as more senior executives quit

[ad_1] Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt. Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader. The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion - a deal that credit experts say has left Twitter's finances in a precarious position. Earlier in the day, in his first company-wide email, Musk warned that Twitter would not be able to "survive the upcoming economic downturn" if it fails to boost subscriptio...