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'Heavy debt': Elon Musk says Twitter cash flow negative after ad revenue declines (www.cnbc.com)

submitted 2 years ago* (last edited 2 years ago) by kuontom@kbin.social to c/tech@kbin.social

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Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with "heavy debt."

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[–] FaceDeer@kbin.social 0 points 2 years ago (1 children)

I don't see how a social media site and an automobile company have much in common.

It's quite possible that Musk is better at some things than he is at other things. Engineering and manufacturing are quite different from maintaining a large social media company, the skills don't translate.

Another major difference is that Musk built Tesla up from a small size, so it was always structured according to his style and expectations of management, whereas he bought Twitter as an already-large company with an established corporate culture that didn't match what he would have done. That's the first time he's bought such a large pre-existing company, as far as I'm aware, and he's having huge problems "reshaping" it.

[–] Hypx@kbin.social 1 points 2 years ago* (last edited 2 years ago)

@FaceDeer

@kuontom @const_void Bullshit. He did not found Tesla. And Tesla gets many billions of dollars of subsidies, something you can't do with Twitter. It's easy to imagine how Musk mismanaged Tesla just as badly as Twitter now, but with the advantage of the government saving him back then. Also, with ZIRP (zero interest rate policy) by the Feds, you can borrow money at basically zero cost anytime you want. You can string along a disastrous mismanaged company for years in that scenario.