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Elon Musk Says Twitter is Losing Over $4 Million a Day

Elon Musk took to Twitter today saying “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required.”

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He also stated, “Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged.”

Elon is on a mission to make Twitter Great Again!

On Thursday, five former employees, including an engineer who also draws satirical cartoons, filed a lawsuit alleging that Twitter failed to provide adequate notice of the job cuts.

Celebrities have also spoken out against Musk’s plan to charge $8 per month for blue ticks. The billionaire has been compared to a fictional character who asks friends to do chores and then charges them.

Musk also chastised businesses for withdrawing their advertising from the platform. “Twitter has seen a massive drop in revenue as a result of activist groups pressuring advertisers, despite the fact that nothing has changed with content moderation and we did everything we could to appease the activists,” he tweeted.

General Motors, Volkswagen, Audi, and Pfizer have all suspended their advertising.

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About Antonia Read

Antonia Read is a seasoned author specializing in the world of startups. With a keen interest in entrepreneurship and innovation, she has become a prominent voice in the field. Antonia's insightful writings offer valuable insights into the challenges and successes of startup ventures. Her expertise and dedication to the subject have earned her a reputation as a go-to resource for aspiring entrepreneurs and business enthusiasts alike.