Is Elon Musk the Liz Truss of media moguls?
https://www.theguardian.com/technology/2022/nov/10/exodus-twitter-elon-musk-possible-bankruptcy
41-45, M
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Northwest · M
Musk, yesterday, sent an email to the entire Twitter organization, hinting that they need to work harder, and said that unless they can manage to generate half the revenue from their $96 per year, per account, subscription, the company is not going to survive the upcoming industry downturn.
Only thing is, it's not an upcoming event, we're right smack in the middle of it, with just about every single tech company reducing staff, freezing hiring or resorting to forcing people to leave, as they realized that customers of their products, are cutting back, whether it's advertising, or products.
It's a downward cycle: people are cutting spending, forcing producers to reduce ad spending.
I did not read the article, but the header seems about right.
Today, the entire Twitter security team, including the CIO, resigned in protest, prompting the FTC to start asking questions (the Europeans already started asking questions).
I think he's going to make Truss look good.
As an aside, his Crypto stash, just turned to shit.
Only thing is, it's not an upcoming event, we're right smack in the middle of it, with just about every single tech company reducing staff, freezing hiring or resorting to forcing people to leave, as they realized that customers of their products, are cutting back, whether it's advertising, or products.
It's a downward cycle: people are cutting spending, forcing producers to reduce ad spending.
I did not read the article, but the header seems about right.
Today, the entire Twitter security team, including the CIO, resigned in protest, prompting the FTC to start asking questions (the Europeans already started asking questions).
I think he's going to make Truss look good.
As an aside, his Crypto stash, just turned to shit.