Twitter: Elon Musk warns that bankruptcy is possible, two weeks after the acquisition

Twitter: Elon Musk warns that bankruptcy is possible, two weeks after the acquisition


Two weeks after completing the Twitter acquisition, Elon Musk isa> ready to warn the company that it may not survive what he describes as an impending economic downturn. To him to say about him, bankruptcy is a possibility.

As the New York Times reports, Musk has sent an email to employees calling the economic picture "terrible". He also said that Twitter is too dependent on advertisers, many of whom have stopped spending on the platform in recent weeks (possibly due to the fact that it is increasingly easier to create fake accounts and share racial slurs on Super Mario's behalf), and that the "top priority is to find and suspend any verified bots / trolls / spam".

Next, Musk conducted a meeting with all Twitter employees. Speaking of the decision to end remote work; Musk would have told Twitter staff: "If you can physically come to the office and don't show up, your resignation is accepted."

Musk also reportedly talked about plans to make Twitter a peer-to-peer payments platform, that "bankruptcy is not out of the question" and that Twitter employees "need to be tougher".

Meanwhile, Twitter continues to lose employees through both layoffs and voluntary departures. Several executives have been alleged to be leaving the company, including trust and security chief Yoel Roth and cyber security chief Lea Kissner.

An inside lawyer warned in a note about Slack groups interior, as viewed by The Verge, that engineers may have to bear the "personal, professional and legal risk" faced by the company. This is partly due to a 2011 agreement with the Federal Trade Commission that gives the body authority over data security practices, with breaches that could result in fines of hundreds of millions or even billions of dollars.

A Federal Trade Commission spokesperson told The Verge that the entity is "following recent Twitter developments with deep concern."

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