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Twitter Might Be on the Path to Bankruptcy, Per Elon Musk

Elon Musk expressed concerns about bankruptcy in his first speech to Twitter employees since buying the company for $44 billion, according to a confidential source familiar with the matter. Elon Musk’s new leadership team included Yoel Roth and Robin Wheeler, both of whom have resigned, per confidential sources. Musk fired most of the social network’s executive team when the deal closed last month. Roth had recently taken over all trust and safety efforts on the social network. The sales vice president, Wheeler, had been assigned to deal with jittery advertisers worried about their marketing content. The social network debt from the acquisition is significant, and advertisers have pulled back due to Musk’s plans for content moderation. Additionally, he informed employees that Twitter’s days of free food and other perks are over. Watch this video at Bloomberg, where Ed Ludlow elaborates on Musk’s Twitter bankruptcy comment.

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