The post Elon Musk Warns Twitter Employees of Possible Bankruptcy appeared first on Coinpedia Fintech News
Following enormous layoffs and as Elon Musk’s ownership of Twitter reached its third week, the billionaire revealed a precarious financial future for the social media site amid a departure of senior privacy and security executives.
According to numerous sources, the departures started on the same day Elon Musk addressed the staff for the first time and declared that “bankruptcy isn’t out of the question.”
Elon Musk, who is battling to get the platform’s finances under control, cautioned that bankruptcy was a possibility.
He told his remaining product team members that the company could see “net negative cash flow of several billion dollars” in 2023 and “bankruptcy is not out of the question” if that happens.
We can’t scale to a billion users and take massive losses along the way, that’s not feasible,” However, he continued, “if you have a compelling product, people will buy it. That has been my experience at SpaceX and Tesla[ad_2]