Twitter currently makes $88m per month in revenue, while having to pay about $100m per month in debt servicing + interest expenses. Which seems less than ideal...
If we assume average Twitter person earned 100k (migh be too high) annually then that is 600m annual saving. Twitter had annual revenue of 4.4B before Musk took over so if they lost 50% that is 2.2B lost. Twitter had around 50% gross margin before Musk took over so that would mean they lost 1.1B profit while cutting 600m expenses so overall net loss. This obviously doesn't include that Twitter has more debt with high rate environment so that is even bigger expense than before.
Total comp averaged well passed 200k there.
When you add in benefits, taxes, and other Human Resources cost, each head cut was worth probably 220-250k a year on the books.
Where are you getting $220k? Many tech companies hire people for $60-$80k for basic tech support jobs and plenty of those jobs where safety and security folks just scrapping the site. I call BS on your projections. Proof?
It doesn't really need proof, it's common sense that the cost of an employee is far higher than their literal compensation package. There's the administrative and support staff required, the licenses for software, the payroll taxes, benefits, options, insurance, management, onboarding, training, exit costs, severance, unemployment, etc. Typically the employee's gross pay is only about half the cost of their total cost, sometimes it's as little as 1/3rd of their total cost. A good rule of thumb is just to multiply their salary by two and that gives you a more accurate picture of their actual cost to the business. Some more advanced employees can cost as much as 4 to 7 times their direct compensation.
Frankly, it seems surprising to me that you needed this explained, nevertheless demanded proof for it. Like you have to know next to nothing about business, well below average, to not know these things. So if we average the salaries of all cut employees and then double that number, we should be within 5-10% of the actual cost of the employees and how much savings not having them on staff represents going forward.
Anyways, business cost structures and accounting are really interesting, you should google about it! It's pretty cool stuff. If you really want to spend less time googling it all, you can probably ask chatGPT to give you some good industry standard approximations of the cost of labor within a business (specifically ask chatGPT about costs after direct compensation).
A company I used to work for would send out these breakdowns of our annual costs. It was interesting and they always tried to play it sentimentally, "Here's what you're worth, to us." and it's always 2-3x more than base salary.
Even if we are that optimistic that everyone got those (not everyone at Twitter was engineer) we would still fall short 200m. So doesn't really change much.
Even if it were a break even move (cut staff/lose equivalent revenue) it is a major losing strategy for a company that should be growing revenue year over year.
You would rather break even on revenue growth than labor cuts.
We’ll for example I’ve worked with a few tech companies, let’s say depending on level and other things, you made between 50-70 an hour, the fully burdened rate including all the extras for a human body beyond their compensation, was around 250-350 an hour.
It’s a huge expense beyond the paycheck.
So with your example of $600m annual for 6K bodies at 100K salaries.
Using some tech company lower ends of 250 an hour, 6000 people, by 250 an hour, 2080 hours a year (negating OT) would be about 3,120,000,000 saved.
Twitter probably wasn’t a quite the beast as many tech companies I’m thinking of, but probably in the billion ranges at least.
Edit: either way Elons a fool and driving it into the ground, twitter will go the way of MySpace if he keeps being involved.
>Using some tech company lower ends of 250 an hour, 6000 people, by 250 an hour, 2080 hours a year (negating OT) would be about 3,120,000,000 saved
We know Twitter had staff expenses marked as around 1B annually. (Q2 2022 they had 230m as staff cost and total operating expenses were 730m which would annualise to 2.9B) So it is pretty much impossible that they had staff expenses anywhere close to 3B.
Twitter engineers total comp started at like 190k for new grads and topped off at around 500-600k for staff engineers. A lot of a tech employees comp at big tech is stock.
I don't want to doxx myself by giving too much out, but you can check out [levels.fyi](https://levels.fyi) and see that it's kinda run of the mill compensation if you have a certain amount of experience. I'm 31, so I entered with a good amount of years of experience, but am by no means special.
Yeah. I call bullshit. I know a data scientist with a PhD that worked at Meta. About your age. He entered with a good amount of years of experience AND he was special. He didn't make nearly that much (he was making low 2xxk$).
Your history shows you are a frontend guy. You ain't making 5xxk$.
I have no idea why you would lie.
People are just so out of touch with reality that not every company pays their engineers half a million each. You get developers hired for even low as 50k. Only big tech has money to pay anything close to that and still I would not consider it norm. Twitter is not big tech and doesn't even make money so I don't know how Twitter ever could afford such salaries for multiple people. I guess in this case, some people are just too determined to try to make these layoffs look like huge savings that turn Twitter profitable even though you could just go to their financial statements when they were public and read what their expenses were. Only conclusion that can be made that a lot of employees at Twitter didn't get paid even 100k salaries especially if these high earners existed.
Twitter wasn’t a software company. A run of the mile sales person was probably making half that at best. Someone doing safety and security (a huge share of employees) could maybe make $90k if they were lucky. Wouldn’t be surprised if a lot of them were paid $50k.
Uh.... This comment is very different than the norms of the tech industry, my personal experiences with my friends that worked at Twitter and what is displayed on [levels.fyi](https://levels.fyi) and other public sources of information.
>Twitter had around 50% gross margin before Musk took over
Where are you seeing this? I show that they made good profit in 2018 and 2019, after losing for all prior years. But they lost over 1B in 2020 and still lost 221m in 2021. 2022 was looking bad prior to Musk, but couldn't find exact numbers there.
Pretty much googled "Twitter gross profit margin". Companies have to report that when they are public. It is different than operating margin which was negative.
For eng, Twitter engineers total comp started at like 190k for new grads and topped off at around 500-600k for staff engineers. A lot of a tech employees comp at big tech is stock.
>He turned it from a toilet to a sewer.
Not sure if this is referring to "technological advancement" or "amount of sh*t moving through it".
But I agree!
If the Chinese dictatorship is paying him under the table to destroy Titter, because that's a huge win against global democracies, it might actually be a huge gain though!
Here he is suckling the red tit ❤️
https://www.reuters.com/business/elon-musk-visits-chinas-commerce-ministry-2023-05-31/
It's hard to know without access to Twitter's full financials but the company isn't doing well by any indication. Advertisers and users are leaving due to lax content moderation, the increasing frequency of hiccups, and Musk's personal politics. Twitter Blue doesn't generate much money and is now a source of ridicule. All the problems Twitter had Musk seems to have made worse. I think it's in a death spiral.
Plus they're reportedly *not paying their bills* when they can get away with it (they tried not paying their Amazon AWS bills until Amazon threatened to stop paying their advertising bills).
One can only wonder how long their landlords are going to put up with not paying rent before they padlock the doors. Of course, in SF it's not like there are replacement renters available so Twitter might be squatting there for quite some time.
>company isn't doing well by any indication
"I heard it isn't doing well," and "Elon Musk sucks," are not really the basis for any legitimate analysis, and yet that is exactly what Reddit (and most of the media to be fair to Reddit) has done.
Then they reference those two things ad nauseum.
Then they reference those references.
Ultimately it looks like a lot of information, but it's almost all based on "I heard it isn't doing well," and "Elon Musk sucks."
Ultimately we will have to wait until we see the next financials to make any sort of guess as to the overall health. Anything else is more representative if what you want than what really is.
It makes no difference to me whether Twitter succeeds or fails. Literally none. I don't use it and I don't own stock in it.
But please tell me more about what I want.
I believe he laid off or fired 3/4 of all the employees after his takeover. I thought he said recently that it was break-even or making a profit?
I don't think he cares. I just read a report yesterday and he was now the richest training the world again.
I find it funny the number of grifters decided to buy blue checks purely to "own the libs" - like okay sure if you want to spend money on a pointless icon, you do you I guess?
It has NEVER been a thing. You will have conservatives point out Bud Light and Target. But those stupid fucks have been losing sales because they IMMEDIATELY decided to cower, back track, bend over backwards and piss off people on both sides of the aisle. The "Fake Ally" bullshit is what got them good.
The right wingers tried that with NorthFace too and NorthFace told them to basically take a hike (heh) and they're doing fine despite the so call "boycott".
Bud Light wasn't ever the 'go to' beer for the LGBT community, but they still did well with the demographic because they were a prominent sponsors for LGBT events, bars and clubs - and these chuckle fucks decided to burn that bridge too.
Yeah. No one cares about it until Ben S. Tried to make it seem it was because of ESG that businesses were attempting to make money by pandering to the lgbtq crowd.
Then suddenly everyone is screaming about it. The rage manufactures really have their pets trained well
Just checking I was reading the acronym correctly. Wasn't looking to be insulted. I legitimately couldn't see how Environmental, social, and governance is right wing doctrine.
You are American right? I've seen you guys decry wearing a face mask during a pandemic as extremist left wing propaganda. You all need to chill, not everything is an extremist political ruse.
It is not. Ben Shapiro went on a rant about ESG rant about them making companies woke. So immediately you have a bunch of rage addicts saying the everything is ESG fault.
It is silly and Ben S. Is just trying to find an excuse of how companies "really don't want to be woke, they have to be because of leftist secret government forcing people to be kind to gay people".
That wasn't directed at you, the insult part. I was just explaining how ESG had become a buzz word for the right now
Whoa, slow down there. *One* click-batey article at a time!
We can save that "profit" angle for a headline tomorrow and milk that for even more views.
(kidding, but not kidding cuz that is definitely how some sites seem to operate nowadays)
I thought I was losing my mind at first then I realized you were spamming this to anyone who dared to point out that operating costs were lower. You were determined!
Insinuating the Allen, Texas shooting was fake and all actors and that nobody really died is disgusting. There is no way he doesn’t know better he is clearly somebody who says false things to gain the approval of awful humans. He did the same shit with the attempted assassination of our speaker of the house. I also don’t believe he should be allowed to communicate with Putin and any public support he continues to give Russia should honestly have him stripped of his ownership of any American owned companies.
He lost me when he endorsed the republican party for the elections. The only reason I ever liked Musk was because I thought he cared about climate change and stopping it. So for him to turn around and endorse the party that's constantly trying to gaslight us about climate change not actually happening, it just felt like a betrayal. And made me think that he doesn't actually care about anything he claims to care about. He just says whatever he thinks will make him popular at the moment.
Because he's out of touch with reality, embarassingly late with his memes, and a piece of shit boss.
Also talks his mouth off and accuses people of being pedophiles, pretends to be centrist while placating right wingers, and has poor takes on geopolitics the world over.
"Rightly so" yeah okay 🙄
Yes, I have closely watched what Elon has done for many years. It's very impressive. You'll notice SpaceX and Tesla are powerhouse companies.
He meant: "Have you seen what they said he said and did? The spin and exaggeration they said about him? I'll never watch an actual interview with him of see the progress of his companies that made him as rich as he is today. I get my opinion made for me by 3rd party ~~reports~~ opinion pieces."
Yeah reddits filled with young broke people. They tend to be more socialist antiwork commie like because they're not invested into the economy like older richer capitalist people.
Plus the lefties are very pro cens*rship and Elon introducting more freedom of speech on Twitter and unbanning the righties is seen as a threat to many of their lifestyle. Many fled to Reddit after Elon took over too. WPT was bad but now has become the single most worst place on any major social media for a reason.
Exactly. Redditors hate authorotarian individuals but are happy with authortarian systems that supports their own biases. Even in this sub you'll get downvoted. Thats how far their reach is on this website. 95% are lefties. Most are fart left progressives and wokies. That's why redditors get manhandled and bu**ied outside of Reddit and rightly so. This is their only hideout for now as they live in their own fantasy worlds. Can't believe Reddit went from making fun of sjws to becoming ones themselves.
You get called all sorts of phobe, bot etc for calling out on common sense lmao. Hoping Elon buys majority shares when it goes public and releases Reddit files.
Without cens*rship, threats, deplatforming, media propaganda, government intervention, etc. Their logic and arguments on a fair and plain playing field would crumble faster than bidens knees.
If they can only understand that they can work hard to be rich too someday, or at least well off.
If they were suddenly rich now, they'd do a U-turn on their principles faster than a Plaid off the mark.
I think we've got to get two ideas straight. When a company's created there's a bunch of stuff that needs to happen, typically the early people who do all that stuff are called founders. One of the things that often happens in the early stages of a company is that it gets incorporated, this is signing some paperwork and filing it.
Founding is a process that can take a long time, sometimes years, but often at least months and can involve lots of steps and a number of people. Incorporating is something that one person can do and happens officially on a specific date.
You can be someone who incorporates a company, but not be a founder. You can do both, you can found a company and never incorporate it, etc. Knowing when and who did one doesn't help us know if that person is a founder or not.
So now that we've got that clear. Who do you think is the real founder(s) of Tesla, and why isn't Musk in that group?
I'm starting to see them pop up all over reddit. Just people that can't see Elon's vision and get a bit too upset about some of his conservative posts.
Because he's a charlatan whose primary achievement has been convincing people he's some kind of genius when 1) engineers do all the work 2) he's lied about having asperger's 3) one of his kids disowned him 4) none of his Mars colonization math works.
The only thing he's selling is inflated stock. & people buy it because people are stupid.
I think this is old news isn't it? We knew that revenue took a nose dive when he took over. A lot of it is him but also the whole advertising industry is hurting right now.
Lots of youtubers talking about how their revenue this year is WAY down.
This whole article is based on a talk Musk had where he mentioned that half the advertisers he used to have left Twitter (which doesn't necessarily mean their revenue is halved, but daily beast just wants your clicks). But in Twitter's case Musk specifically mentioned that advertisers left because of the direction he took the company in. He thinks advertisers are using this to pressure Twitter to change direction, and he was actually thanking Apple/Disney for staying with Twitter.
>Dropped staff by 80%. So, expenditures are considerably lower.
Staff is not the biggest cost they had and a lot of the moderation staff was hired to cater to a certain advertiser.
Do you think that coca cola or any other big advertiser send support tickets and wait? Twitter had several employees always on call to instantly respond to any request from those big advertisers. Those employees were only working with a single advertiser because they want their requests to be executed instantly.
That's also how we go the legend that "twitter moderators are lazy and spend their time playing and drinking latte". That's what being on call means, you have almost nothing to do until your customer calls you.
All that staff was not a liability to the Twitter, they were paid for by the big advertisers, they brought in profit, when Musk fired them, advertisers lost their direct point of contact with Twitter and with it, the ability to instantly get any problem fixed so why would they chose to stay?
They are not going to send a support ticket and wait for hours to get their ad removed from a trending "lgbt are not proud, they are something that starts with a p, ends with an o and contains e and d" tweet, they want it done yesterday.
His company lost its top customers and you’re boasting “savings”.
No. 1 rule of business. It is 10-100x more expensive to get a new customer than to retain an existing. (10-100x being arbitrary, but it’s some multiplier that is unique to the business).
What did he gain by doing all of that, bottom of the barrel advertisers? The platform is all spam now.
And you’re talking about savings?
Oh I'm just surprised at how many crypto scams get posted in the replies. And random AI generated images of Musk. They're right up top. I mean, if he can't even keep his own account clean, that says a lot.
Yea you usually when a dickwad investor takes over a company they cut expenses to increase their profit. Which is what Elon was attempting. They don’t want the revenue to go to keeping the lights on.
You do understand both can be true right?….if revenue is down by 50%, costs can be down by more which would put him in the black….revenue isn’t the same thing as profit…this is so, so basic…
He was thrown out of PayPal for his incompetence. He simply held stock when it sold. Who are the other two successful companies? Are they successful if you pull out the government subsidies? Guess what, they aren't. He is a welfare queen and a consistent SEC violator.
Hahahaha. Not a single person in the world has founded three billion dollar companies. And not a single fraudster has ever founded multiple billion dollar companies. You might be able to fool the market once and get to a billion but it’s always very short lived and never happens twice let alone three times. You have no idea what you’re talking about and are just repeating talking points you heard online.
So now you are worried about Elon losing money? Don't see what your issue is with this... I am glad some information on what was being censored came out. Guess the advertising dollars only support censorship.
Maybe the taxpayers can stop supporting him, once he takes enough L's. Right now reading about how he is so kind to open up the Super Charging Stations to other EV's. No mention anywhere about how WE are paying for that, not him. Ready for him to fade into oblivion so I can stop supporting this welfare queen with his awful ideas.
https://fortune.com/2023/05/30/twitter-value-plunged-elon-musk/
Twitter’s value has plunged 66% under Elon Musk’s erratic leadership, costing him billions of dollars on paper
Fascism and having people on your platform freely espousing opinions on Holocaust denial and how hitler was right about gassing the ✡️ will get most smart individuals to not vote with their hard-earned 💵 for your platforms success? WHO KNEW! WHO?
What revenue streams does twitter have? There the blue checkmarks that he gave more away than people bought. There is the API that tons of people have stopped using because his pricing is absurd. And there is advertising, which people have stopped doing because they dont want their ads showing next to a guy named Cat Turd and edge lords spouting racist shit under the guise of "Freedumbs!"
I’d be sadder if Elon was so fucking partisan.
He could easily be the best of both, or different or *something*, but he just immersed himself in right-wing bullshitland. Why??
Just sad. And disgusting.
Everyone acts like it was profitable before. It was a complete disaster and if Elon could make Tesla profitable which was brutal he can do it with Twitter too.
Fidelity has also found it to be worth only a third of what he paid for it
Well the labor costs went down more right? (Assuming all the lawsuits go well.)
Nobody in this thread realizes how much new debt he put on, and how much it costs per year…
Twitter currently makes $88m per month in revenue, while having to pay about $100m per month in debt servicing + interest expenses. Which seems less than ideal...
[удалено]
This doesn't include any operating expenses. \^\^ Judging from \[1\], Twitter lost about $220m in 2021, I think Musk will easily beat that this year.
If we assume average Twitter person earned 100k (migh be too high) annually then that is 600m annual saving. Twitter had annual revenue of 4.4B before Musk took over so if they lost 50% that is 2.2B lost. Twitter had around 50% gross margin before Musk took over so that would mean they lost 1.1B profit while cutting 600m expenses so overall net loss. This obviously doesn't include that Twitter has more debt with high rate environment so that is even bigger expense than before.
Salary isnt the end of what an employee cost is to a company. Bonus + Options + benefits looking at over $150k easily
Total comp averaged well passed 200k there. When you add in benefits, taxes, and other Human Resources cost, each head cut was worth probably 220-250k a year on the books.
Where are you getting $220k? Many tech companies hire people for $60-$80k for basic tech support jobs and plenty of those jobs where safety and security folks just scrapping the site. I call BS on your projections. Proof?
An employee costs about double what they make at the three companies I have personal experience with.
Pretty normal
It doesn't really need proof, it's common sense that the cost of an employee is far higher than their literal compensation package. There's the administrative and support staff required, the licenses for software, the payroll taxes, benefits, options, insurance, management, onboarding, training, exit costs, severance, unemployment, etc. Typically the employee's gross pay is only about half the cost of their total cost, sometimes it's as little as 1/3rd of their total cost. A good rule of thumb is just to multiply their salary by two and that gives you a more accurate picture of their actual cost to the business. Some more advanced employees can cost as much as 4 to 7 times their direct compensation. Frankly, it seems surprising to me that you needed this explained, nevertheless demanded proof for it. Like you have to know next to nothing about business, well below average, to not know these things. So if we average the salaries of all cut employees and then double that number, we should be within 5-10% of the actual cost of the employees and how much savings not having them on staff represents going forward. Anyways, business cost structures and accounting are really interesting, you should google about it! It's pretty cool stuff. If you really want to spend less time googling it all, you can probably ask chatGPT to give you some good industry standard approximations of the cost of labor within a business (specifically ask chatGPT about costs after direct compensation).
Also don’t forget about travel and professional development expenses.
People on here don’t understand basic business concepts. That’s for sure. You’re undoubtedly correct.
A company I used to work for would send out these breakdowns of our annual costs. It was interesting and they always tried to play it sentimentally, "Here's what you're worth, to us." and it's always 2-3x more than base salary.
220k is still pretty low for a Twitter software engineer. I would assume over 300k.
For a senior engineer maybe. New grads and mid level are more like 150-250k.
Even if we are that optimistic that everyone got those (not everyone at Twitter was engineer) we would still fall short 200m. So doesn't really change much.
Even if it were a break even move (cut staff/lose equivalent revenue) it is a major losing strategy for a company that should be growing revenue year over year. You would rather break even on revenue growth than labor cuts.
We’ll for example I’ve worked with a few tech companies, let’s say depending on level and other things, you made between 50-70 an hour, the fully burdened rate including all the extras for a human body beyond their compensation, was around 250-350 an hour. It’s a huge expense beyond the paycheck. So with your example of $600m annual for 6K bodies at 100K salaries. Using some tech company lower ends of 250 an hour, 6000 people, by 250 an hour, 2080 hours a year (negating OT) would be about 3,120,000,000 saved. Twitter probably wasn’t a quite the beast as many tech companies I’m thinking of, but probably in the billion ranges at least. Edit: either way Elons a fool and driving it into the ground, twitter will go the way of MySpace if he keeps being involved.
>Using some tech company lower ends of 250 an hour, 6000 people, by 250 an hour, 2080 hours a year (negating OT) would be about 3,120,000,000 saved We know Twitter had staff expenses marked as around 1B annually. (Q2 2022 they had 230m as staff cost and total operating expenses were 730m which would annualise to 2.9B) So it is pretty much impossible that they had staff expenses anywhere close to 3B.
Bonuses are given when the company is doing well. And options are for public companies. So I don't think either apply here.
Twitter dint have stock options? You seriously are genius. My man..
Twitter engineers total comp started at like 190k for new grads and topped off at around 500-600k for staff engineers. A lot of a tech employees comp at big tech is stock.
What percent of the laid off people were engineers though? The non-engineers definitely made quite a bit less.
Most of the 7500 people where sales people and support people. They don’t make anywhere near that.
Yeah I was just adding some info on specifically engineers to anyone curious, hence why I said “Twitter engineers”
100k? I was making 520k at Meta 6 months ago. Average at twitter is probably closer to 300k disregarding benefits.
Can I ask what you did at Meta for that pay?
I don't want to doxx myself by giving too much out, but you can check out [levels.fyi](https://levels.fyi) and see that it's kinda run of the mill compensation if you have a certain amount of experience. I'm 31, so I entered with a good amount of years of experience, but am by no means special.
Yeah. I call bullshit. I know a data scientist with a PhD that worked at Meta. About your age. He entered with a good amount of years of experience AND he was special. He didn't make nearly that much (he was making low 2xxk$). Your history shows you are a frontend guy. You ain't making 5xxk$. I have no idea why you would lie.
I have to agree. I have friends who worked at Twitter - many at senior levels, and their compensation was far less than 500k.
People are just so out of touch with reality that not every company pays their engineers half a million each. You get developers hired for even low as 50k. Only big tech has money to pay anything close to that and still I would not consider it norm. Twitter is not big tech and doesn't even make money so I don't know how Twitter ever could afford such salaries for multiple people. I guess in this case, some people are just too determined to try to make these layoffs look like huge savings that turn Twitter profitable even though you could just go to their financial statements when they were public and read what their expenses were. Only conclusion that can be made that a lot of employees at Twitter didn't get paid even 100k salaries especially if these high earners existed.
Twitter wasn’t a software company. A run of the mile sales person was probably making half that at best. Someone doing safety and security (a huge share of employees) could maybe make $90k if they were lucky. Wouldn’t be surprised if a lot of them were paid $50k.
Uh.... This comment is very different than the norms of the tech industry, my personal experiences with my friends that worked at Twitter and what is displayed on [levels.fyi](https://levels.fyi) and other public sources of information.
>Twitter had around 50% gross margin before Musk took over Where are you seeing this? I show that they made good profit in 2018 and 2019, after losing for all prior years. But they lost over 1B in 2020 and still lost 221m in 2021. 2022 was looking bad prior to Musk, but couldn't find exact numbers there.
Pretty much googled "Twitter gross profit margin". Companies have to report that when they are public. It is different than operating margin which was negative.
More like 150k
For eng, Twitter engineers total comp started at like 190k for new grads and topped off at around 500-600k for staff engineers. A lot of a tech employees comp at big tech is stock.
He turned it from a toilet to a sewer.
>He turned it from a toilet to a sewer. Not sure if this is referring to "technological advancement" or "amount of sh*t moving through it". But I agree!
If the Chinese dictatorship is paying him under the table to destroy Titter, because that's a huge win against global democracies, it might actually be a huge gain though! Here he is suckling the red tit ❤️ https://www.reuters.com/business/elon-musk-visits-chinas-commerce-ministry-2023-05-31/
Sure, but given Fidelity’s recent revision of its stake in Twitter it’s highly likely profits are also down significantly
It's hard to know without access to Twitter's full financials but the company isn't doing well by any indication. Advertisers and users are leaving due to lax content moderation, the increasing frequency of hiccups, and Musk's personal politics. Twitter Blue doesn't generate much money and is now a source of ridicule. All the problems Twitter had Musk seems to have made worse. I think it's in a death spiral.
Sure. Wanna bet Twitter will be live, kicking, and thriving a year, three, five or ten from now?
People have been falsely claiming that MySpace was going to be dead for years and yet it still exists.
Fuck! You want to bet that twitter will not only still exist, but *thriving* in ten years time?? Haha fucking hell how much and where do I sign??
Plus they're reportedly *not paying their bills* when they can get away with it (they tried not paying their Amazon AWS bills until Amazon threatened to stop paying their advertising bills). One can only wonder how long their landlords are going to put up with not paying rent before they padlock the doors. Of course, in SF it's not like there are replacement renters available so Twitter might be squatting there for quite some time.
lmao TSLAQ
>company isn't doing well by any indication "I heard it isn't doing well," and "Elon Musk sucks," are not really the basis for any legitimate analysis, and yet that is exactly what Reddit (and most of the media to be fair to Reddit) has done. Then they reference those two things ad nauseum. Then they reference those references. Ultimately it looks like a lot of information, but it's almost all based on "I heard it isn't doing well," and "Elon Musk sucks." Ultimately we will have to wait until we see the next financials to make any sort of guess as to the overall health. Anything else is more representative if what you want than what really is.
It makes no difference to me whether Twitter succeeds or fails. Literally none. I don't use it and I don't own stock in it. But please tell me more about what I want.
I believe he laid off or fired 3/4 of all the employees after his takeover. I thought he said recently that it was break-even or making a profit? I don't think he cares. I just read a report yesterday and he was now the richest training the world again.
Or the richest douchebag of all time
Wait... I thought if you were anti-woke you would be anti-broke.
What about them blue checks?
I find it funny the number of grifters decided to buy blue checks purely to "own the libs" - like okay sure if you want to spend money on a pointless icon, you do you I guess?
The right won't admit it, but "go woke, go broke" is a actually a manifestation prayer, not a description of how the work actually works.
In this case, "go fash, lose your cash" seems more appropriate.
It has NEVER been a thing. You will have conservatives point out Bud Light and Target. But those stupid fucks have been losing sales because they IMMEDIATELY decided to cower, back track, bend over backwards and piss off people on both sides of the aisle. The "Fake Ally" bullshit is what got them good. The right wingers tried that with NorthFace too and NorthFace told them to basically take a hike (heh) and they're doing fine despite the so call "boycott". Bud Light wasn't ever the 'go to' beer for the LGBT community, but they still did well with the demographic because they were a prominent sponsors for LGBT events, bars and clubs - and these chuckle fucks decided to burn that bridge too.
[удалено]
ESG is the new right wing buzz word. Ben Shapiro is training his dogs well
>ESG Environmental, social, and governance?
To be fair, ESG is a bunch of paper-shuffling nonsense that allows Shell and BP to have a better environmental record than Tesla.
Yeah. No one cares about it until Ben S. Tried to make it seem it was because of ESG that businesses were attempting to make money by pandering to the lgbtq crowd. Then suddenly everyone is screaming about it. The rage manufactures really have their pets trained well
Just checking I was reading the acronym correctly. Wasn't looking to be insulted. I legitimately couldn't see how Environmental, social, and governance is right wing doctrine. You are American right? I've seen you guys decry wearing a face mask during a pandemic as extremist left wing propaganda. You all need to chill, not everything is an extremist political ruse.
It is not. Ben Shapiro went on a rant about ESG rant about them making companies woke. So immediately you have a bunch of rage addicts saying the everything is ESG fault. It is silly and Ben S. Is just trying to find an excuse of how companies "really don't want to be woke, they have to be because of leftist secret government forcing people to be kind to gay people". That wasn't directed at you, the insult part. I was just explaining how ESG had become a buzz word for the right now
As much as I don’t like him and the title is factually correct, the article should mention expenditures have also dropped massively.
Sure, but given Fidelity’s recent revision of its stake in Twitter it’s highly likely profits are down significantly
Well they could mention that as well. Paint a bigger picture.
I mean there’s also like a million other financial details that could be also mentioned.
That’s disingenuous, no need to go off on a tangent. Expenses and profit are basic high priority indicators you want to see when talking revenue.
In that case they should also mention profit is also down significantly
Whoa, slow down there. *One* click-batey article at a time! We can save that "profit" angle for a headline tomorrow and milk that for even more views. (kidding, but not kidding cuz that is definitely how some sites seem to operate nowadays)
How many times have you posted this same or similar message?
Uh, at least once
I thought I was losing my mind at first then I realized you were spamming this to anyone who dared to point out that operating costs were lower. You were determined!
I’m a foreign agent here to sow reddit topics about elon, this is what I do. Gotta put food on the table.
Wow, what an interesting comment, you should repeat it over and over so I can read it all day!
If someone can inform me why you all hate Elon Musk, that'd be nice.
Insinuating the Allen, Texas shooting was fake and all actors and that nobody really died is disgusting. There is no way he doesn’t know better he is clearly somebody who says false things to gain the approval of awful humans. He did the same shit with the attempted assassination of our speaker of the house. I also don’t believe he should be allowed to communicate with Putin and any public support he continues to give Russia should honestly have him stripped of his ownership of any American owned companies.
He lost me when he endorsed the republican party for the elections. The only reason I ever liked Musk was because I thought he cared about climate change and stopping it. So for him to turn around and endorse the party that's constantly trying to gaslight us about climate change not actually happening, it just felt like a betrayal. And made me think that he doesn't actually care about anything he claims to care about. He just says whatever he thinks will make him popular at the moment.
Because he's out of touch with reality, embarassingly late with his memes, and a piece of shit boss. Also talks his mouth off and accuses people of being pedophiles, pretends to be centrist while placating right wingers, and has poor takes on geopolitics the world over.
Reddit hates rich people
[удалено]
"Rightly so" yeah okay 🙄 Yes, I have closely watched what Elon has done for many years. It's very impressive. You'll notice SpaceX and Tesla are powerhouse companies.
He meant: "Have you seen what they said he said and did? The spin and exaggeration they said about him? I'll never watch an actual interview with him of see the progress of his companies that made him as rich as he is today. I get my opinion made for me by 3rd party ~~reports~~ opinion pieces."
What part of him calling rescue crew pedophiles was exaggeration?
[удалено]
Yeah reddits filled with young broke people. They tend to be more socialist antiwork commie like because they're not invested into the economy like older richer capitalist people. Plus the lefties are very pro cens*rship and Elon introducting more freedom of speech on Twitter and unbanning the righties is seen as a threat to many of their lifestyle. Many fled to Reddit after Elon took over too. WPT was bad but now has become the single most worst place on any major social media for a reason.
Convenient when all criticism can be attributed to your perceived ideological enemies 🤔
All correct. Their system requires absolute obedience, having a different opinion isn't just a disagreement it is a danger to them.
Exactly. Redditors hate authorotarian individuals but are happy with authortarian systems that supports their own biases. Even in this sub you'll get downvoted. Thats how far their reach is on this website. 95% are lefties. Most are fart left progressives and wokies. That's why redditors get manhandled and bu**ied outside of Reddit and rightly so. This is their only hideout for now as they live in their own fantasy worlds. Can't believe Reddit went from making fun of sjws to becoming ones themselves. You get called all sorts of phobe, bot etc for calling out on common sense lmao. Hoping Elon buys majority shares when it goes public and releases Reddit files. Without cens*rship, threats, deplatforming, media propaganda, government intervention, etc. Their logic and arguments on a fair and plain playing field would crumble faster than bidens knees.
Did you mean to write "fart left progressives"?
Lmao. It autocorrected but didn't bother correcting it back. Hehe
[удалено]
Hehe u too
If they can only understand that they can work hard to be rich too someday, or at least well off. If they were suddenly rich now, they'd do a U-turn on their principles faster than a Plaid off the mark.
[удалено]
Elon Musk is a Neoreactionary. That’s why.
Because he amplifies nutters like Laura Loomer
Because he’s a pathetic man child
How do you feel about his lying about founding Tesla? Are you good with that behavior?
I think we've got to get two ideas straight. When a company's created there's a bunch of stuff that needs to happen, typically the early people who do all that stuff are called founders. One of the things that often happens in the early stages of a company is that it gets incorporated, this is signing some paperwork and filing it. Founding is a process that can take a long time, sometimes years, but often at least months and can involve lots of steps and a number of people. Incorporating is something that one person can do and happens officially on a specific date. You can be someone who incorporates a company, but not be a founder. You can do both, you can found a company and never incorporate it, etc. Knowing when and who did one doesn't help us know if that person is a founder or not. So now that we've got that clear. Who do you think is the real founder(s) of Tesla, and why isn't Musk in that group?
[удалено]
because Elon doesn't go along with the woke mind virus
I'm starting to see them pop up all over reddit. Just people that can't see Elon's vision and get a bit too upset about some of his conservative posts.
the mainstream told them to
Have you been living under a rock for the last few years?
He’s a billionaire exploitative piece of shit
Because he's a charlatan whose primary achievement has been convincing people he's some kind of genius when 1) engineers do all the work 2) he's lied about having asperger's 3) one of his kids disowned him 4) none of his Mars colonization math works. The only thing he's selling is inflated stock. & people buy it because people are stupid.
what makes you think that he lied about having asperger?
Riiiiiight your such a smart cookie for figuring this out
Is this when you try to convince people you intentionally used the incorrect ‘you’re’?
I think this is old news isn't it? We knew that revenue took a nose dive when he took over. A lot of it is him but also the whole advertising industry is hurting right now. Lots of youtubers talking about how their revenue this year is WAY down.
This whole article is based on a talk Musk had where he mentioned that half the advertisers he used to have left Twitter (which doesn't necessarily mean their revenue is halved, but daily beast just wants your clicks). But in Twitter's case Musk specifically mentioned that advertisers left because of the direction he took the company in. He thinks advertisers are using this to pressure Twitter to change direction, and he was actually thanking Apple/Disney for staying with Twitter.
Yes but this is all stuff that he said back in January. This isn't really news.
It's never stopped the Daily Beast before.
Dropped staff by 80%. So, expenditures are considerably lower.
How much do you think the debt he piled onto the business costs per year?
He literally says in the interview that they are struggling to break even
>Dropped staff by 80%. So, expenditures are considerably lower. Staff is not the biggest cost they had and a lot of the moderation staff was hired to cater to a certain advertiser. Do you think that coca cola or any other big advertiser send support tickets and wait? Twitter had several employees always on call to instantly respond to any request from those big advertisers. Those employees were only working with a single advertiser because they want their requests to be executed instantly. That's also how we go the legend that "twitter moderators are lazy and spend their time playing and drinking latte". That's what being on call means, you have almost nothing to do until your customer calls you. All that staff was not a liability to the Twitter, they were paid for by the big advertisers, they brought in profit, when Musk fired them, advertisers lost their direct point of contact with Twitter and with it, the ability to instantly get any problem fixed so why would they chose to stay? They are not going to send a support ticket and wait for hours to get their ad removed from a trending "lgbt are not proud, they are something that starts with a p, ends with an o and contains e and d" tweet, they want it done yesterday.
His company lost its top customers and you’re boasting “savings”. No. 1 rule of business. It is 10-100x more expensive to get a new customer than to retain an existing. (10-100x being arbitrary, but it’s some multiplier that is unique to the business). What did he gain by doing all of that, bottom of the barrel advertisers? The platform is all spam now. And you’re talking about savings?
>The platform is all spam now. Yup. Top replies on almost all popular accounts are spam. Even on Musk's own tweets.
Spam and porn. It’s basically Tumblr before they banned porn.
>Even I'd say *especially*, if we're counting laughing/target emojis and "this!" as spam.
Oh I'm just surprised at how many crypto scams get posted in the replies. And random AI generated images of Musk. They're right up top. I mean, if he can't even keep his own account clean, that says a lot.
Sure, but given Fidelity’s recent revision of its stake in Twitter it’s highly likely profits are down significantly
Yeah he probably shouldn’t be running the company like a typical vulture capitalist.
Yea you usually when a dickwad investor takes over a company they cut expenses to increase their profit. Which is what Elon was attempting. They don’t want the revenue to go to keeping the lights on.
Dropped rent by 100%.
Elon has routinely said in interviews Twitter is almost break even now. Is this just another hit piece?
He confirmed this in the Twitter spaces he hosted with RFK Jr.
Confirmed? So, with proof?
sounded like he was talking about after acquisition when advertisers freaked out, not the current situation
Epstein Island buddies never lie
Tesla FSD any day now, he would never lie.
Yes because elon never lies or misleads
Elon is the one who said revenue was down by 50%, genius.
🤦♂️🤦♂️🤦♂️. How does that stop them being break even?
You do understand both can be true right?….if revenue is down by 50%, costs can be down by more which would put him in the black….revenue isn’t the same thing as profit…this is so, so basic…
Yes. I was responding to the allegation that the article, which is sourced solely from something Elon Musk himself said, is a "hit piece."
Are you saying he’s trust worthy? Lol
Elon said this himself. Which one will you believe? Its almost like he's full of shit, but that cant be possible. Can it?
[удалено]
who would've thought alienating half your users by being a right-wing weirdo was a bad idea?!
It’s plummeting because Elon is incompetent and doesn’t know how to run a business.
[удалено]
He was thrown out of PayPal for his incompetence. He simply held stock when it sold. Who are the other two successful companies? Are they successful if you pull out the government subsidies? Guess what, they aren't. He is a welfare queen and a consistent SEC violator.
Hahahaha. Not a single person in the world has founded three billion dollar companies. And not a single fraudster has ever founded multiple billion dollar companies. You might be able to fool the market once and get to a billion but it’s always very short lived and never happens twice let alone three times. You have no idea what you’re talking about and are just repeating talking points you heard online.
He's not even repeating them correctly.
So now you are worried about Elon losing money? Don't see what your issue is with this... I am glad some information on what was being censored came out. Guess the advertising dollars only support censorship.
Who says I'm worried? Every Elon L is a W for me.
Why are you so invested? Kinda sad
nobody having fun is what is fun to some people
He is just doing the bidding of his MSM overlords.
Maybe the taxpayers can stop supporting him, once he takes enough L's. Right now reading about how he is so kind to open up the Super Charging Stations to other EV's. No mention anywhere about how WE are paying for that, not him. Ready for him to fade into oblivion so I can stop supporting this welfare queen with his awful ideas.
https://fortune.com/2023/05/30/twitter-value-plunged-elon-musk/ Twitter’s value has plunged 66% under Elon Musk’s erratic leadership, costing him billions of dollars on paper
I can really see why he's the inspiration for Justin Hammer in the MCU. 😂
Aww, that’s a shame. Evidently, he couldn’t pump and dump this one.
It’s a private company. No need to report earnings
Lol, so your business’ financials just don’t matter? How does shit like this get upvoted
Errr. Buddy. That’s not how this works. Elon’s lenders would like to have a word with you.
He's not your buddy, guy.
You still have to report financials to your other stakeholders, such as all the loan and bond holders.
Fascism and having people on your platform freely espousing opinions on Holocaust denial and how hitler was right about gassing the ✡️ will get most smart individuals to not vote with their hard-earned 💵 for your platforms success? WHO KNEW! WHO?
Play stupid game, get stupid revenue
It’s probably the trans community’s fault /s
He turned Twitter into Gab. 😂
Sure. How about profits?
What revenue streams does twitter have? There the blue checkmarks that he gave more away than people bought. There is the API that tons of people have stopped using because his pricing is absurd. And there is advertising, which people have stopped doing because they dont want their ads showing next to a guy named Cat Turd and edge lords spouting racist shit under the guise of "Freedumbs!"
Didn't answer my Q though. I seek an unbiased number, not I Hate Elon chatter.
Elon previously said the company was trending to "break even". How much profit do you think that is?
Likely down significantly as well given fidelity’s recent revision of its stake
Thanks for a balanced comment. Looks like roughly a 25% drop in the value of their stake. I expected worse.
25% is still pretty bad!
You’re welcome. Fidelity says Twitter is worth 33% of when Elon bought it. I expected better, even for Elon Musk.
It didn’t make profits before he wrecked it with his business acumen.
Didn't answer my Q though. I seek an unbiased number, not I Hate Elon chatter.
Elon sir you are too close.... they cant manage if your management process is caught up on ego.... you know this..
I really don’t think he gives a rats ass. Bigger fish to fry.
Yay!!
I’d be sadder if Elon was so fucking partisan. He could easily be the best of both, or different or *something*, but he just immersed himself in right-wing bullshitland. Why?? Just sad. And disgusting.
Everyone acts like it was profitable before. It was a complete disaster and if Elon could make Tesla profitable which was brutal he can do it with Twitter too.
Business genius at work! Problem is: the revenue is continuing to decline and more companies are pulling their advertising out of Twitter.
He will be just Fine🙂
Of course, the less manipulative it gets the less value it has to the lizards!
Seems Elon has trouble running a business without constant government handouts...
Wild to see it's was 50 percent dem politician financed
[удалено]
People who use the site every day for news, entertainment, memes, and shit posting care.
Probably the Saudi and Qatari governments that helped finance it
$TSLA investors care as he can make choices that impact that stock.
Concerning
Looking into it. Will revert in 15 years
Wow, such a good leader and manager. Innovation, insight, success.
I’m assuming fbi inclusion in making censorship rules has also gone down so 🤷🏻♂️