According to Elon Musk, Twitter is still experiencing negative cash flow. Musk tweeted that the company is facing a cash flow issue due to a 50% drop in advertising revenue and heavy debt burden. Musk stated that reaching positive cash flow is a priority before anything else can be considered.
We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.
— Elon Musk (@elonmusk) July 15, 2023
This announcement coincides with the start of Twitter’s ad-revenue sharing program, which has begun paying out some creators, including a few far-right influencers. Musk also mentioned that the social network could see a surge in device user seconds usage this week. He previously stated that almost all the advertisers who had left the platform after his takeover in October…
2023-07-15 15:26:00
Post from www.engadget.com rnrn