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ELON MUSK HAS said Twitter is losing cash because advertising has dropped by half.
In a reply to a tweet offering business advice, the billionaire tweeted yesterday: “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.
“Need to reach positive cash flow before we have the luxury of anything else.”
Ever since he took over Twitter in a $44 billion deal last autumn, Musk has tried to reassure advertisers concerned about the ousting of top executives, widespread lay-offs and a different approach to content moderation.
Some high-profile users who had been banned were allowed back on the site.
In April, Musk said most of the advertisers who left had returned and the company might become cash flow positive in the second quarter.
In May, he hired new chief executive Linda Yaccarino, an NBC Universal executive with deep ties to the advertising industry.
But, since then, Twitter has upset some users by imposing new limits on how many tweets they can view in a day, while some users complained they were locked out of the site.
Musk said the restrictions are needed to prevent unauthorised scraping of potentially valuable data.
Twitter got a new competitor this month when Facebook owner Meta launched text-focused app Threads, which gained tens of millions of sign-ups in a few days.
Twitter responded by threatening legal action.
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Twitter is booming and thrash media hate that their day is done, the woke agenda has crumbled.
@Donal og Tom Humphries: The CEO of twitter is literally saying it’s losing money and that advertisers have fled the site. Of course that translates to “twitter is booming” in the language of the mob
@Jason Memail: thanks for the mainstream narrative, Ukraine will also destroy Russia and Covid is lethal
@Donal og Tom Humphries: booming, but also not making money and unsustainable.?
@Donal og Tom Humphries:
From reading the article and then your post.
You added nothing to the facts of Twitter’s finacial position but showed us that you can’t digest actual facts and comment on those facts..
@Tony Murphy: exactly, the numpties are on 5th booster now.
@Jack Dermody: stay safe, don’t come out, mask up, good little mainstream boy
@Jack Dermody: here’s a fact, The WHO said 1 in 30 that get covid will die, fooled you, not me, where’s the great fact checkers on this that also fool you but don’t fool me
@Donal og Tom Humphries: “The mainstream narrative” hahaha that’s a good one. I suppose wilful ignorance of the facts before your eyes is a comfortable place for some. Twitter is losing money, that’s a fact that no amount of conspiracy gits tying themselves up in knots can change.
@Jason Memail: and its time you stopped wearing your mask, God ye believed all the nonsense, God help ye.
@Donal og Tom Humphries: The people that used to be your friends are laughing at you behind your back.
@Jason Memail: he’s a troll ffs.
The reason they’re losing money is him – wouldn’t have lost the confidence of advertisers if he hadn’t riled them up, and then fired most of the support framework, then started posturing and believing his own hype….
@Bong bong: Add in that heavy debt load, though, unless he’s talking it up to write it off against tax? For all we know, he could have singled it out as a loss leader vehicle for his own profit.
You can immediately tell if someone is extremely stupid when they defend billionaires and over use “mainstream” and “sheep”.
@Rees: and “woke agenda”
@Rees: ..or if they make general sweeping statements
@Rees: Baa Baa Rees. Now, there you go, you understand perfectly. I wasn’t defending the Musk, in fact he blocked me too. You may be perceived as toxic, but there’s nothing toxic about a sheep, we just ignore them.
@JedBartlett: The sweeping statement was made by the sheep. Twitter is dying a slow death because the sheep were told to leave and/or not advertise. The Irish, like the humanoids here, will always cow tow to the mainstream. RTE being a perfect example of how the country went berserk over a greedy rasher yet we cannot house our youth. Baa Baa…
@The Irish love this shy…: I think you’ll find that Ireland is built on a proud history of towing cows.
@The Irish love this shy…: you don’t see the irony in your statement genius? You’re really making me look stupid by showing everyone how smart you are….
@Rees: No Rees, you did enough yourself without my input. You missed my point because once you saw Twitter here, the sheep in you couldn’t resist the pen!
@The Irish love this shy…: comments on a main steam media news outlet and calls people who use mainstream news media “sheep” if that isn’t a self burn I don’t know what is.
@Rees: It’s odd all right that someone who admires advertisers selling to “sheep” is suddenly claiming that he doesn’t want their money. You’d wonder what he does want instead. To be the only car on the road?
The mainstream did an excellent job of herding the usual sheep away from Twitter. It’s no coincidence that Twitter’s woes began when Musk took. The sheep were indifferent and initially enthralled by the entrepreneur but the mainstream media saw their opportunity in doing what they do best – telling the sheep how to think. Plenty of them around here.
Twitter is gone to the dogs since he’s bought it. Even it’s rules on what you can say are now ridiculous. Suspending accounts for little or nothing for having an opinion.
@Derek Kelly: Careful now you’ll get a yellow card here for that opinion
@Derek Kelly: liar
Well Elon ill Repeat your tweet you when ye bought the kip ” Let That Sink In ” Hahaha
Maybe the problem is Twitter and its CEO who seems not to listen to his advisors…and Twitter has had its day
Elon reminds me of Donald. Two guys with a great opinion of themselves, big egos, big sense of entitlement and very litle real talent. Elon! Hey Elon, wise up man and stop dabbling. Let your executives run the business. Go away for a trip in the oul’ yacht. Look at the Ukraine, a President who lets his military do their job and talks them and their people and country up all the time. Take a leaf out of his book and become like Leo the lip! Talk! A comedian dabbling in military matters would have had Putin walking in a big victory parade on day two of the invasion.
Last Thursday, Twitter announced content creators would be able to get a slice of Twitters’s ad revenue (to encourage more creators to join the site) and to be eligible, the creators must have Twitter Blue and have at least 5 million impressions on their posts in each of the last 3 months. Among the creators who now get monetised: Andrew Tate, self-proclaimed misogynist online influencer, indicted in Romania on charges of human trafficking, rap3 and setting up a criminal gang. Lovely stuff.
It has been hilarious watching Musk tank Twitter inside 12 months, he made it worse and then managed to get a load of worshipping sheep to pay for the privilege! These are the same people who are terrified of vaccines, Musk knows how easy they are to manipulate, still, not enough Blue Thicks to keep this ship from sinking ;)
@Tariq ibn Ziyad: it was already tanking before Musk took it over. Not once was it ever in profit.
He paid about 3x what it was worth for it so that was his first major mistake. Interest rates have hiked massively since then so whatever he borrowed to buy it is costing way more to service and then finally he’s messed around with it and the people who used it leaving Zuckerberg to spot a chance to open his own version. Master strokes all round from Elon on this one.
“Twitter is booming and thrash media hate that their day is done, the woke agenda has crumbled.”
The fact that this utterly factless conspiracy theory has 120 likes illustrates everything wrong with Ireland.
Those that want to claim the Irish media and education systems are fit for purpose, look no farther than the lunacy embraced by your friends and neighbours.
Such a shame that the Journal gives these wackos a platform.
if twitters broke then prepare to pay an extra 10k for a Tesla …
Well talk about a – typical – misleading headline. Giving the impression that Twitter is in major trouble when in fact the announcement is basically positive. Musk fired half the staff and the fact that the platform is performing just as well since shows that those fired were worthless censors of non-woke comments.
@Tony Murphy: The platform is absolutely buckling trying to service even a reduced number of users, just last week they had to implement rate limits to keep the site afloat. Don’t let that get in the way of your baseless, factless, sticking it to the libs narrative though, we know you don’t deal in truth.
Never got the Twitter bug myself, such a mega ad platform for celebs promoting products, like watching ads without a show, guess I don’t really care. There are plenty of tech jobs out there for the employees if they go bust.
Really Elon
I don’t understand the Irish media’s obsession with the financial state of Elon Musk/Twitter.
Twitter was delisted from the stock exchange when Musk bought it – so he hasn’t ‘lost’ $20bn & even if he has it is of no concern financially to Irish investors as no Irish person has shares in Twitter.
In a much shorter timeframe Anheuser-Busch has lost approx $27bn in market capitalisation due to a boycott of Bud Light but no Irish media organisation covers that story even though it has significantly greater impact for Irish citizens/investors.
Weird.
@Monetpenny: It’s as though flavour, and tastes, differ.
@Monetpenny: it’s almost like it’s a worldwide story about one of the biggest social media platforms. The bud light thing is aul’ american culture war bs that nobody beyond the same 15 fellas on facebook care about. Besides, bud and bud light are absolute piss.
It’d be doing better if he stayed off Twitter himself and clamped down on the extremists and trolls.
Musk didn’t buy Twitter to make money.
The Biden administration was going to put him in jail for a long time.
He bought Twitter to give Conservatives/Republicans ‘free speech’ & he allowed then return to the platform.
Conservatives/Republicans now love him & they give him the political protection from Biden prosecution.
It’s money well spent if it keeps him out of prison.
Or you can believe one of the most successful businessmen in the world made a catastrophic business decision that cost him $20bn.
Maybe because all the ads are scams & not truly vetted before being published! Instagram & now Threads are the same! Reap what you sow!
If he paid me I might go back on Twitter.
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