Other than that, everything is fine. Great time in the economy to ignore your core business and go off into futuristic stuff that may pay off in a couple decades. Zuckerberg may be able to afford it my Joe Shareholder cannot- yet Zuckerberg is the majority shareholder so they are just along for the ride. Mark Zuckerberg’s Fortune Dropped $11 Billion Thursday–And Is Down $100 Billion Since Meta’s Stock Peaked https://www.forbes.com/sites/rachel...ion-since-metas-stock-peaked/?sh=7b46be3abb66
Major advertiser after major advertiser is dropping Twitter. Is the number over 30 yet? If not then it will be shortly. These companies represent the bulk of Twitter's revenue. Beauty giant L'Oreal ceases Twitter ads https://www.sfgate.com/tech/article/elon-musk-twitter-live-updates-17553046.php Elon Musk’s Twitter Faces Exodus of Advertisers and Executives https://www.nytimes.com/2022/11/01/technology/elon-musk-twitter-advertisers.html
Not to worry. Elon will smooth everyone over by announcing that it was not just a rumor, he is in fact going to lay off 75%. That should hold expenses down a smidge.
According to news released by Bloomberg in the past couple of hours, Musk plans to lay off 50% of the Twitter workforce (3700 people). https://www.bloomberg.com/news/arti...minate-half-of-twitter-jobs-in-cost-cut-drive
Yep. 75% was rumored and reported but Elon denied that. Gonna be some "expense reductions" to come though. Although some of the layoffs will be replaced with people more suited to the mission so they will not result in savings.
Again, I don't think you understand Musk's intent. EU rules are great for him because they set parameters. The problem is the US where there are very few rules that get argued in court and appealed and taken to the fkg supreme court and then a few words change and they go back to court... It's a lawyers and judicial fk all for years. https://www.rollingstone.com/politi...gers-turning-elon-musk-moderation-1234623259/
Musk is laying off 50% of the company within days. As previously reported he is also screwing these employees out of their bonus that was due November 1st by delaying the payment of the bonus. This is amusing in a way because Musk previously publicly denied that he was going going to lay employees off by November 1st to avoid paying the bonus,; all he did was change the bonus payment date to screw all of them. Musk's Twitter Finalizing List Of 3,700 Employees To Be Laid Off This Week: Report https://www.ibtimes.com/musks-twitt...0-employees-laid-off-this-week-report-3631450