After a sequence of "storms", billionaire Elon Musk warned Twit

  • the brand new owner of Twitter - Elon Musk has simply voiced the possibility of this social media platform going bankrupt while many senior managers simultaneously resigned.

    Bloomberg pronounced that Elon Musk informed Twitter employees that bankruptcy couldn't be ruled out, weeks after buying the social media enterprise for $44 billion. this is a deal that credit specialists say has positioned Twitter's price range in a precarious function.

    in advance, on Sept. 11, Lea Kissner - Twitter's security Director tweeted that she had give up her job.

    privateness chief Damien Kieran and chief compliance officer Marianne Fogarty additionally resigned, according to internal notices published to Twitter's Slack messaging device on Tuesday with the aid of an lawyer on the privacy group seen by using Reuters. .

    america Federal trade fee (FTC) said it was monitoring Twitter with "deep subject" after the leader privacy and compliance officer quit. these resignations are in all likelihood to show Twitter to the threat of violating regulatory orders.

    In his first assembly with all personnel at Twitter at the afternoon of November 9, Elon Musk warned that the company ought to lose billions of dollars subsequent year.

    Twitter did no longer comment on the capacity financial disaster, the FTC's caution or the administrators' departure.

    Robin Wheeler changed into Twitter's head of advertising after Elon Musk took over the corporation. Yoel Roth, head of safety and integrity at Twitter, says Twitter has visible a ninety five percent drop in perspectives of harmful content in seek consequences as compared to earlier than Elon Musk offered the company.

    laying off half of its personnel after acquiring Twitter for $44 billion on October 28, Elon Musk said the employer was losing more than $four million an afternoon, in large part due to the fact advertisers started going for walks away after he took over the agency.

    Elon Musk took on $13 billion in debt whilst he bought Twitter, and faces interest payments totaling nearly $1.2 billion over the subsequent three hundred and sixty five days. Twitter's maximum lately disclosed cashflow extra payments have been $1.1 billion as of the quit of June.

    Elon Musk promises to forestall fake accounts and expenses $7.99/month for the Twitter Blue service that will include verification with a blue tick.

    Elon Musk says Twitter Blue subscriptions turns into extra important and distinguished, with users that specialize in posts from established people and ignoring other low-fine content.

    "there may be a massive distinction among loose speech and loose get entry to," Elon Musk announced, including that Twitter will restrict the visibility of hateful content material.

    "My observations on Twitter over the last few weeks is that content material is truly enhancing, not getting worse," Musk shared.

    The billionaire told advertisers that Twitter will pass aggressively to droop debts "undertaking scams" or deceiving.

    He also promised a faster evolution of the Twitter carrier, starting up the possibility of peer-to-peer payments, cash marketplace money owed and, sooner or later, debit cards.

    warning from FTC
    In can also, Twitter agreed to pay $150 million to settle allegations by using the FTC that the employer misused private data, inclusive of smartphone numbers, to goal commercials to users after it clarified that it information is amassed for protection reasons handiest.

    inside the inner notice, the lawyer cited listening to from Twitter's leader prison Officer, Alex Spiro, that Elon Musk is inclined to take "a large quantity of threat" with Twitter. "Elon positioned rockets into area, he is no longer fearful of the FTC," lawyer Alex Spiro quoted him as saying.

    The Twitter acquisition has raised issues that Elon Musk, who frequently gets into political debates, could face strain from countries looking to manipulate on line speech.

    President Biden was asked at a information convention whether or not he thinks Elon Musk is a threat to country wide protection and whether or not acquiring Twitter with help from a sovereign Qatari wealth fund is a superb idea. investigated via the united states authorities.

    similarly to an fairness pledge of $33.five billion, Elon Musk bought Twitter for $forty four billion with help from overseas investors, such as Prince Alwaleed bin Talal of Saudi Arabia, the foundation. Qatar's sovereign wealth and Binance Holdings (the world's largest cryptocurrency trade founded by using Changpeng Zhao, a businessman of chinese language descent) have involved Biden administration officials.

    remaining month, the White house stated reviews that the us was discussing launching a national protection review of a number of Elon Musk's ventures, inclusive of Twitter, were "now not actual".

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    did not reassure advertisers
    On November nine, Elon Musk advised advertisers thru Twitter spaces that he wants to make the platform a pressure for truth and prevent faux debts.

    The assurances of the sector's richest billionaire may not be sufficient.

    speedy food logo Chipotle Mexican Grill (u.s.) said on November 10 that it became pulling returned its Twitter advertisements "even as we better understand the path of the platform underneath new management".

    Chipotle Mexican Grill joins different manufacturers, such as trendy automobiles, that have halted advertising and marketing on Twitter because Elon Musk took over, worried that he would relax content moderation rules.

    Elon Musk sent his first electronic mail to Twitter personnel on November 10, announcing that they might now not be allowed to work remotely and ought to come to the office for at least 40 hours every week, in keeping with Bloomberg.