Posted on 11/10/2022 4:02:37 PM PST by RummyChick
Twitter owner Elon Musk told employees on Thursday that he is not sure how much run rate the company has and that bankruptcy is not out of the question, the Managing Editor of tech newsletter Platformer tweeted.
Musk is participating in an all-hands meeting with Twitter employees, a source told Reuters.
Twitter did not immediately reply to an emailed request for comment from Reuters.
The revelation came after reports that several top executives have jumped Musk’s sinking ship — including Yoel Roth, the company’s Head of Safety & Integrity, and Chief Security Officer Lea Kissner.
(Excerpt) Read more at nypost.com ...
“several top executives have jumped”
No problem. Replace them with patriots.
Go get them Elon!
why would he spend 44 billion dollars on something that is even able to go bankrupt. Although bankrupt has several different meanings. Could be a way to erase debt. He is not a stupid human.
Yoel Roth, the Far-Left Twitter Hack Behind Site’s New ‘Crisis Misinformation Policy’ who Blocked the Hunter Biden Laptop Story, Called Trump Officials “Actual Nazis”
Corporate bankruptcy means the court allows the company to stop paying debts they owe.
General Motors, Detroit, New York City. All broke and still around after bankruptcy.
i have seen several theories.
He just bought it to screw someone over....or he bought it knowing he would sue for fraud after he got the details..or he opened his mouth and never thought he would be forced to buy it...etc
Dorsey seems to be walking back his support of Musk’s purchase.
Would a corporate bankruptcy screw over Dorsey?
“The U.S. Federal Trade Commission said it was watching Twitter with “deep concern” after the social media platform’s top privacy and compliance officers quit, potentially putting it at risk of violating regulatory orders.”
And just what the heck does that mean? People quit and it is Musk’s fault?
And then the article is trying to make sound like Musk is responsible for things that happened before he bought the company.
I’ve been back ten days. I’ve followed a bunch of people with join date October, ‘22. He’s reeling me and a bunch of conservatives in. He should recruit some advertising that will further take advantage of our presence. Genius, no doubt.
Twitter has about $18.5 billion of debt, of which Musk assumed about $13 billion. His lenders have agreed to hold this debt til at least early next year to give him time to come up with a new business plan. So that’s what this is about - not an uncommon situation. A packaged bankruptcy (chapter 11) would allow him to restructure the debt, remaining as debtor-in-possession while the company reorganizes. I haven’t seen a list of debt holders but I’ll bet some folks we don’t much like here would take a big hairdcut.
FTC...was the company fraudulently valuated? Misleading advertisers with bots?
Morgan Stanley was his banker on the acq. IIRC. They have planned for such contingencies.!
Biden is out to get Musk.
In 2009 we had the “car czar”
In 2023 we’ll have the “tweet czar”
Debt for what?
The software didn’t cost billions.
It may be a ploy to get the staff to buckle down and help
keep the operation afloat, if they want a steady job.
Nice tax write off for Musk and his investors
>The software didn’t cost billions.
Datacenters, both physical on-site as well as cloud. They probably have them all over the planet.
“And just what the heck does that mean?”
It means that the D’s held their serve in the midterms and were hardly punished at all for their incompetent and felonious performance over the last two years.
So they are doubling down. Biden talked today about going after Musk. Censorship of all social media will become more extreme and blatant. They don’t care if Americans know tehy are censoring because America just doesn’t care. The DOJ and FBI . . . what can you say? They will double down is my prediction. The next two years are going to be a wild ride.
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