1y ago

'Heavy debt': Elon Musk says Twitter cash flow negative after ad revenue declines

www.cnbc.com Elon Musk says Twitter cash flow is negative due to ad revenue declines, 'heavy debt'

Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with "heavy debt."

News @lemmy.world

Elon Musk says Twitter cash flow is negative due to ad revenue declines, ‘heavy debt’

www.cnbc.com /2023/07/15/elon-musk-says-twitter-cash-flow-remains-negative-with-heavy-debt-.html

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49 comments

Hmmmmm I wonder where all that heavy debt came from? Chin scratch I wonder why all the companies don't want to advertise here anymore? NOBODY KNOWS!!!

I'm amazed people still drive and ride in Teslas after seeing how badly this guy runs a social media site.
- Well, Tesla is publicly traded, makes money, and clearly their cars work because they have lower than average road fatalities. With the disparity of how badly Twitter's being run vs Tesla I wonder how long it's been since Elon's actually been in charge of anything other than being a spokesperson for Tesla.
  
  @Catch42
  @kuontom @constvoid
  No one really knows if Tesla makes money. It's been long noticed that Musk is extremely dishonest and could easily be faking all of the numbers.
  
  They are among the most unreliable cars.. lol
  And fewest fatalities because they are not selling as well as a honda civic..
  
  To be fair, they've got the killed-or-injured-by-a-software-driven-vehicle market virtually cornered.
  
  they have lower than average road fatalities
  Are you sure about that?
  
  Lower fatalities is a function of the driver type, not of the car.
- I trust his companies when I know the engineers don't let him have any say whatsoever.
  Neuralink and spacex are interesting to watch, because how badly could he fuck them up in a way that engineers will let him? Not much.
  Tesla is just on the edge of being fucked up by him, his weird yoke and insistence on capacitive buttons are very close to being too much... but the thing that made me finally decide not to ever get a tesla was his insistence on using exclusively cameras instead of cameras+radar for autopilot.
  If you don't care about self-driving, and don't care about the yoke/capacitive buttons, teslas are fine cars.
- I don't see how a social media site and an automobile company have much in common.
  It's quite possible that Musk is better at some things than he is at other things. Engineering and manufacturing are quite different from maintaining a large social media company, the skills don't translate.
  Another major difference is that Musk built Tesla up from a small size, so it was always structured according to his style and expectations of management, whereas he bought Twitter as an already-large company with an established corporate culture that didn't match what he would have done. That's the first time he's bought such a large pre-existing company, as far as I'm aware, and he's having huge problems "reshaping" it.
  
  @FaceDeer
  @kuontom @constvoid Bullshit. He did not found Tesla. And Tesla gets many billions of dollars of subsidies, something you can't do with Twitter. It's easy to imagine how Musk mismanaged Tesla just as badly as Twitter now, but with the advantage of the government saving him back then. Also, with ZIRP (zero interest rate policy) by the Feds, you can borrow money at basically zero cost anytime you want. You can string along a disastrous mismanaged company for years in that scenario.

I wonder if you built a bonfire of $100 dollar bills, how tall would $44 billion look like?
- 29ish miles.
  A single bill of US currency is 0.0043 inches thick.
  $44bil in $100 bills is 1,892,000 inches, which comes out to 29.861 miles.
  
  That's a stack, not a pile.
  
  /c/TheyDidTheMath ?
  
  In 50s that's 59.7 miles, or just 3 miles shy of the von karman line which marks the edge of outerspace