Re:I am excited to welcome Linda Yaccarino as the new CEO of...
by mrguyorama on Friday May 12, 2023 @02:18PM
(#35920047)
Before his purchase, twitter was a company that had hope of profitability as a regular occurrence, if they could adjust some spend on infrastructure and engineering.
That's a lot harder to do with a giant debt crushing your soul, by a guy who can't really put any extra money into it to give it runway. All of the changes Elon has made to twitter have been desperate attempts to get some cash to stay alive, because the company is in a desperate position. At one point, they were down something like 50% in ad spend. Not many places can survive with new billions in debt and half the revenue. I don't know if he has been able to convince advertisers to come back, but they are fickle, stupid, and have no memory so surely that's a possibility, and this new CEO might be an attempt to convince advertisers his hands are off the wheel.
That's a lot harder to do with a giant debt crushing your soul, by a guy who can't really put any extra money into it to give it runway. All of the changes Elon has made to twitter have been desperate attempts to get some cash to stay alive, because the company is in a desperate position. At one point, they were down something like 50% in ad spend. Not many places can survive with new billions in debt and half the revenue. I don't know if he has been able to convince advertisers to come back, but they are fickle, stupid, and have no memory so surely that's a possibility, and this new CEO might be an attempt to convince advertisers his hands are off the wheel.