Archive for May 1, 2022

Musk To Slash Jobs At Twitter As Part Of A Plan For Twitter To Make Money

Posted in Commentary with tags on May 1, 2022 by itnerd

I guess if you work for Twitter, you should sharpen up your CV. I say that because this Bloomberg report has that among other things that Elon Musk, the new owner of Twitter has on his to do list to get the company to make money:

On calls with teams of bankers before the deal was announced, Musk fielded questions on how he would generate financial returns at Twitter. While nothing is set in stone — and Musk himself had no access to Twitter’s non-public financials at the time — he specifically mentioned job cuts, said the people, who asked not to be identified as the details are private. He didn’t go into details about which departments or positions might be affected, the people said. 

Musk also discussed ideas to monetize the platform and boost cash flow, including potential subscription services to drive recurring revenue, they said. While he’s said little publicly about how he plans to drive growth, he suggested earlier this month that he isn’t preoccupied with money. “I don’t care about the economics at all,” Musk said at a TED conference after making his offer to buy the company.

Well, this will send employees to the exits in a hurry because they’ll use the logic that it’s better to leave on your own accord rather than be exited out by security. And the problem with that is that Musk will likely lose the people he needs to run this company. Then how does he realize a return on his investment? I’m not sure he’s thought this through. But then, I don’t really think that he thinks anything through based on his past behaviour.

This seriously isn’t going to end well. Mark my words.