The tycoon Elon Musk, sole owner of Twitter, said Thursday to employees of the platform that the bankruptcy of the company cannot be ruled out, according to Bloomberg and other economic media.
“Bankruptcy cannot be ruled out”, said Elon Musk on Thursday in a face-to-face meeting with staff at the headquarters in San Francisco, who were also reminded that teleworking is over and that they must return to the offices, or face dismissal.
In this atmosphere of uncertainty, several of the company’s executives continue to leave their positions, among them Yoel Roth – who in the last week was listed as a rising star on Twitter and whom Elon Musk himself frequently quoted in his tweets – and Robin Wheeler, according to the same agency, which cites sources who requested anonymity.
Roth and Wheeler had accompanied Elon Musk in his first steps on Twitter as a sole owner and had helped him, through tweets that Musk later retweeted, to outline a new content moderation policy aimed at reassuring users, but above all advertisers, the main source of revenue for the Twitter network.
These two names join the departures of other executives known hours earlier: Lea Kissner, Damien Kieran and Marianne Foggerty, who happened to be the top managers of the security units for users and who allegedly left the company in the last few hours (only Kissner has acknowledged it on his own account on the network).
The New York Post does not hesitate to describe what happened as “abandonment of a sinking ship”.
Elon Musk sold $4 billion in Tesla shares to save Twitter
Elon Musk, who last Friday said that the company was losing four million dollars a day and this Thursday admitted that he sold 19.5 million shares (for almost 4 billion dollars) of his electric car company Tesla to “save” Twitter, he no longer seems so sure he can pull it off.
While on Wednesday he sent a message to all employees acknowledging that “the economic outlook is alarming”, this Thursday he told them that the company urgently needed to convince users to pay the 8 dollars required for verified accounts, a very controversial idea and one that generates controversy in the network itself.
Advertisers, for their part, are not clear about Musk’s plans and there have been several – including General Motors and Volkswagen – who have prudently withdrawn their advertising from the network until they have an idea of the future of the platform.
The Federal Trade Commission said today, through a spokesman, and said they were closely following “with deep concern” the latest developments on Twitter, reminded Musk that “no CEO is above the law” and that they have sufficient tools “to ensure compliance” with regulations.
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