Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

  • Cyrus DraegurEnglish
    201·
    25 days ago

    Or maybe he’ll just have to sell Twitter.

    Or maybe Twitter’s debtors can place a lien and sell it right out from under him.

    Kinda curious about what if Twitter were nationalized…? Like, make it a service of the USPS or something? Force it to become accountable to its users?

    • Evilcoleslaw@lemmy.world
      17·
      25 days ago

      The only issue with nationalizing it is that it will be probably even worse for moderation than under Elon. Private enterprises currently enjoy protection for moderation decisions. If it were nationalized any moderator action would run up against the First Amendment directly. Elon could ban Nazis (he doesn’t but he could). A government controlled entity cannot.

      • Llewellyn
        2·
        24 days ago

        Do you want your taxes to be spent on Xitter development and support?

        • cheesepotatoes@lemmy.world
          1·
          23 days ago

          Arguably, it’s used as national communications infrastructure so, yeah, I would want taxes to be used for developing and maintaining it. Same as any other national infrastructure.

          • Llewellyn
            1·
            22 days ago

            First things first: let your taxes fix the healthcare system.
            Mediocre and out of fashion Xitter doesn’t really seem to be an important part of national wellbeing.

            • cheesepotatoes@lemmy.world
              1·
              22 days ago

              I agree about healthcare, of course. You may not like Twitter, I’m not a big fan personally, but you can’t deny that it is used by many organizations as public communications. Hell, my local PD posts critical alerts via Twitter. Local metro, local post office, local news, local universities, colleges, etc… I would rather it be managed by the government rather than a ketamine fueled despot.