Elon Musk’s X can’t send Blue subscribers their ad revenue-sharing payouts on time
Friday night is a good time to announce you’re not paying your bills.
Twitter CEO Linda Yaccarino has not tweeted publicly about the delay.
But Musk has. It’s clear who is running things.
I wish I could get paid as much as a CEO to do nothing
the dead bird looks like sonic the hedgehog
...doing duck lips...
They look like his ears to me.
Gotta die fast!
He wants a kiss.
In July, Musk tweeted about Twitter / X’s financial situation, saying, “We’re still negative cash flow, due to 50% drop in advertising revenue plus heavy debt load.”
Advertising could be up two fold for all it matters. You sack a company that last turned an annual profit in 2019 with $44B in debt, it won't matter if Musk is shitting gold bricks. You can't pay that size of debt off fast enough. To just get started on that debt Musk would need to make Twitter twenty times more profitable than their 2019 profit. And even then that debt is going to be a monkey on his back for forty years in ideal conditions.
That $44B isn't chump change for Twitter, like maybe if Tencent took a sudden $44B debt they'd make good on it, but they're wildly profitable. Twitter barely gets by and has only gone on this long because of the Tech Bro funding that all but dried up when the interest rates were going up.
I can't wait to see how his offer to pay people's legal bills who get in trouble at work for saying problematic shit on his platform works out
Alot like Trumps promise to do the same thing would be my guess
The last thing Twitter needs right now is to find more clever and creative ways to spend money, especially on other peoples legal problems
Twitter wasnt saddled with 44B in debt, That was the purchase price, which included $13B in debt
Why don't Elon and Donald pay their bills?
Because they're scum.
Grifters gonna grift
Because nobody makes them.
How does space x fit here, again? These are crazy people.
He cannot even manage to pay the rent due on the office space. Hardly a shocker that he's having trouble paying the revenue-sharing bills as well.
He can pay. He chooses not to, then acts like staying in SF is a grand show of loyalty (no one else will rent to him, he's a deadbeat).
He's pure gift who has managed to have companies that work despite him. He's the Zaphod Beeblebrox of business. But both heads are empty.
This is the most perfect description of him I've ever heard. Got a solid laugh out of it.
Should've said he'd pay them in RedditCoin TwitterCash, so he can set his own withdrawal requirements and exchange rates.
Really?!? And yet he’s having the sign illegally changed? This guy is wild
The blue bird being killed by the X is such a fitting graphic.
What's funnier is it was already dying. It hasn't made any actual positive revenue since 2019 and then Musk dumped another $44B in debt on top of it. It really never had a chance and I think his original bid was either a troll he never intended to follow through with, or he was banking on leveraging all the blockchain and NFT stuff that recently also shit the bed. Either way, he's fucked himself out of at least a small chunk of his fortune. Well, at least until the rest of the market catches Tesla and their hyper inflated market cap finally also goes sideways.
Musk dumped another $44B in debt on top of it.
He bought it for $44B, he didn't put $44B in debt on it.
thought it was sonic
gotta die fast
Elon can't deliver on a promise. I'm shocked.
Still waiting for the hyperloop…
FSD $20k Tesla Roadster 2 Cybertruck Solar Roof that costs same as new roof + solar panels Unmanned assembly line Etc
Twitter*
Can't or won't? It's won't. Elon could pump a couple of million in to supplement shortfalls within a day maximum, if he wanted to.
He doesn't want to and it would be really bad for him to involve his personal wealth in the company. They need to be separate when twitter goes bankrupt. It is also very unclear what his actual wealth is.
I have immense difficulty feeling sorry for any of the members of Elon's Rent-a-Fascist program. He's a huckster, everyone knows he's a huckster, and the people who don't or refuse to believe it will have to learn that lesson the hard way.
Weird. He was so good at paying his rent and other bills. /S
This is the best summary I could come up with:
In news that isn’t very surprising given the recent history of Twitter, which Elon Musk is currently rebranding to X, the company won’t be able to make some promised payments on time.
That’s not exactly what you’d want to hear from a program touting itself as “part of our effort to help people earn a living directly on X,” and the key to Elon Musk’s X dream for an app that handles banking, stock trading, and other vital financial features.
Musk announced the revenue-sharing plan in February, and the company sent out the first round of payments for eligible accounts (with paid verification via Twitter Blue or Verified organizations, 15 million “organic” impressions in the last three months, and at least 500 followers) a couple of weeks ago before opening up registration to more people.
However, hearing that payments aren’t arriving is familiar news to a number of people and organizations involved with X / Twitter since Musk’s takeover.
A Wall Street Journal article in February counted nine lawsuits covering $14 million in unpaid bills at the time.
In July, Musk tweeted about Twitter / X’s financial situation, saying, “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load.”
I'm a bot and I'm open source!
Elon is directly and personally responsible for both the acquisition of massive and unsustainable debt and for the cratering of cash flow through loss of advertisers.
50% revenue drop is a good start, if you ask me.
But definitely trust them with your money! They're gonna be a bank!
lol Elon sucks.
This belongs in !enoughmuskspam@lemmy.world
Yes, please keep all the Elon shit nearly packed into one sub that I can block.
This looks like Sonic the Hedgehog
That's my offering
Mac wants the flamethrower!
no surprises here
Enshittification continues…
Can someome post a meme of this dickwipe musk strangling a bird
Someone here got Stable Defusion skills? I bet that could look great in all kinds of styles!
![[VERGE] Elon Musk’s X can’t send Blue subscribers their ad revenue-sharing payouts on time](https://radiation.party/pictrs/image/0ec25ff8-3617-40bd-99af-e780a391243d.jpeg?format=webp&thumbnail=196)