All the folks who keep saying Elonn is just cutting flab - 89% revenue drop https://www.yahoo.com/finance/news/twitters-revenue-drops-advertisers-voice-232344915.html #Elon #twitter
Yeah but this is the same dire financial story we heard at his other companies
Tesla was at its infancy when Musk took over. Twitter was a pretty matured company he is running to the ground.
Don't those companies get subsidies?
It's actually -173% Same source: TMB
He's losing all the account managers and sales people, now the ad platform barely works. It's a shit show.
Not an Elon simp in the slightest but the article says an 89% drop from the top advertisers. It appears to be about a 50% drop overall
Irrespective of the volume of drop I hope Twitter burns to the ground and all the CEOs taking management classes from Elon learn to respect employees instead of treating them like shit.
Agree 100%
He deserves to lose all his fortune, the layoffs at Twitter were brutal ;(
More brutal than any other tech company right now? The only seemed more brutal is because for some reason media doesn’t like him so he gets more bad publicity. Tech was in a bubble for a long time. Now It’s bursting. He unfortunately made a bid at the wrong time, tried to get out of it and lost. People make mistakes. But come back and criticize him after you bootstrap a new car technology and make space travel a order of magnitude cheaper. Need I remind you that noone was giving any chance to Tesla 10 years ago? He may not get Twitter right, but i think it was doomed anyway.
They did seem more brutal since he let go over half the company vs like 10/20%
Only a 50% drop in revenue. Musk has reduced costs by a lot and could still cut costs more with layoffs. People are so jealous of Musk's success and genius moves here.
You can't cut to growth. Twitter was a 6B ad business before on its way to 8B by end of 2023, it is now a 3B business on its way to 2B. There is a massive opportunity cost in these shenanigans.
Thats like saying we can tax our way to growth and improving government finances.
The problem is SWEs think that all twitter had to do to "keep running" is not 404 or fail whale. It is an advertising business, all those content mods, monetization PMs, sales people, marketing folks, etc. that you find annoying bring in more revenue per employee at a late stage company than engineers, once the thing is built. Losing your customers (advertisers) is deadly, and you aren't making it up with subscriptions.
Twitter fired SWEs by more than 50%. He thought that everything was on autopilot and all he had to do was reduce payroll cost.
Twitter has lost 80% SWEs since Nov 2022.
On his external coms calls the only technical people left sound like trapped H1-B slaves. It’s sad, but hey, you get options on the way down. Vest the dip?
Yes hate the person playing the game by the rules instead of hating the rules.
Elonz the 🐐 …. you’re just jealous! 🤭
Brains of a 🐐 maybe
Lol. Obvs 🧌