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Elon Musk's Twitter moves were 'reaffirming' says Reddit boss amid API changes
(www.theregister.com)
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this post was submitted on 19 Jun 2023
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Technology
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Who in their right mind has looked at Twitter these past few months and thought ‘wow, great, let me copy that!’?
Unfortunately probably a lot of CEOs realizing they can make drastic cost cutting and policy moves and get away with it. And sadly looks like it’s working.
So far it doesn't look like he's getting away with it. Ad revenue is down 60% compared to last year, it doesn't look like there is enough revenue from subscriptions to make up for that, and they're being evicted from one of their offices.
An office they never even used
That story is (unfortunately) not as bad as it sounds on the surface. Basically the office they're being evicted from was leased just as COVID lockdowns were happening and WFH became a thing. So no one was actually working there and it was pretty much just sitting empty. It's still not great, but Twitter isn't really losing anything of value.
Whether or not they actually used the office, they still owed rent, did they not?
Ah, I see. Maybe one of the offices they're actually using and also not paying the rent on next? A man can dream.
No, but the users still keep using it and the bigger advertisers are coming back. It’ll get sold off but love on. Too many people unwilling to let go.