2023-07-16 22:05:20
Billionaire Elon Musk announced yesterday that the Twitter network, which he bought for $44 billion in October 2022, has lost nearly half of its revenue.
Musk responded via Twitter to a user who made strategic suggestions regarding the network’s future, saying, “We are still in a negative cash flow state, due to a drop of nearly 50% in ad revenue, and heavy burdens associated with indebtedness.” The steps Elon Musk has taken since his acquisition of Twitter have caused alarm among network users and advertisers.
And in May, the “Insider Intelligence” company indicated that “Twitter” is on its way to achieving profits of less than three billion dollars in 2023, which is almost a third less than it was in 2022. Since then, the billionaire announced additional steps that increased the state of discontent among users, including His announcement in early July limited the number of tweets allowed to be read to 10,000 per day for verified accounts, and 1,000 per day for unverified accounts, down to 500 tweets per day only for new accounts.
A few days later, “Twitter” announced that the “TweetDeck” service, which is widely used by information professionals, will be limited, starting next month, to holders of verified accounts, that is, to subscribers to paid “Twitter” services.
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