11/10/2022, 10:39 PM (Source: TeleTrader)
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Musk tells staff Twitter may face bankruptcy in 2023 - report

Twitter Inc.'s new owner and CEO Elon Musk told employees on Thursday that the company's books could get hit with a "net negative cash flow of several billion dollars" in 2023, The Information reported.

Musk also allegedly said that "bankruptcy is not out of the question" if profits don't exceed the expenses. Completing the goal of having a "billion users" while suffering from "massive losses" at the same time is "not feasible," according to the billionaire.

The tech media outlet said that Musk called on Twitter staff to create a "compelling product," as that's what's brought him success at Space Exploration Technologies Corp. (SpaceX) and Tesla Inc. Twitter should have video media content and put more emphasis on content creators on the platform, the world's wealthiest entrepreneur supposedly noted.

Baha Breaking News (BBN) / MS