During an interview in Twitter Spaces on Tuesday night, Musk addressed layoffs, misinformation, and his management style. He acknowledged that leading Twitter has been “quite painful” and the platform is close to breaking even after the sale.“It’s been a rollercoaster,” Musk told the BBC, in a pre-recorded interview in San Francisco. After purchasing Twitter for $44bn, Musk eliminated its communications department and programmed automatic responses for journalists who write to the company.
The interview was tense at times, such as when Musk challenged the reporter to back up claims about increased hate speech on the platform. At another point, he laughed at his own jokes and repeated that the CEO was not him, but his dog Floki. Musk also revealed that he slept on a sofa in Twitter’s San Francisco headquarters and said that the majority of advertisers who left the platform after the acquisition have returned.
Speaking about the layoffs that reduced the workforce by about 1,500 employees from the original 8,000, Musk said, “It’s not fun at all. The company will go bankrupt if we don’t cut costs immediately. This is not a situation of whether you care or not. If the entire ship sinks, then nobody has a job.”
Musk said that Twitter may achieve “positive cash flow” this quarter “if current trends continue.” However, as a private company, this information cannot be verified.
In the interview, Musk also admitted that his decision to buy Twitter was due to pressure from the judiciary, which was about to force him to comply with the agreement when he had initially stated that he would back down.
Musk’s management of Twitter has been controversial. His numerous public outbursts and the spread of misinformation have caused concern among some Twitter users. However, Musk has claimed in the past that his involvement in the platform was only temporary, and he would relinquish control once it became profitable.
Twitter has struggled to turn a profit in recent years, with a net loss of $1.14bn in 2020. The decision by Musk to buy Twitter has raised expectations of a turnaround, though this has yet to materialize.
In conclusion, Elon Musk’s management of Twitter has been a tumultuous ride, with him acknowledging that it has been “quite painful.” As he struggles to bring the social media platform to profitability, Musk has made significant changes, including layoffs and automation of communication with journalists. While Twitter’s future remains uncertain, Musk believes that if the current trends continue, Twitter may achieve positive cash flow this quarter.