Elon Musk disclosed on Twitter Saturday that, due to a 50% drop in advertising revenue and a “heavy debt load,” the platform still has a negative cash flow.
He’s negative after not paying rent, his server bills, and firing everyone then not paying severance. That leaves $1.2B in interest per year plus whatever salaries he’s actually paying. They made $5.08B in 2021. It’s probably down a shitload more than 50%.
He’s negative after not paying rent, his server bills, and firing everyone then not paying severance. That leaves $1.2B in interest per year plus whatever salaries he’s actually paying. They made $5.08B in 2021. It’s probably down a shitload more than 50%.