Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company.
He slashed damn near 2/3 of the company, their HRIS systems were in disarray, they removed much of the force that made it advertiser friendly, came up with obscene API pricing (no doubt to try and cash in on LLM companies), and have failed to pay rent and server costs. Elon took a flawed business model and made it significantly worse all while giving a middle finger to their advertisers which is overwhelmingly their primary revenue source.
And that’s just not correct.
Twitter is still running. It has still grown in username in the last months.
Their business model expanded to a subscription model.
And all this talk about servers and api is just crap talk of unhappy people that do not know how a company is made profitable.
It’s the same kind of people that are angry about Reddit and believe Reddit to go bankrupt.
What a joke.
Not to say his steps aren’t ones that should be taken, it’s the ways and means that alot of people are taking issue with.
When he took over Twitter it was unprofitable, and the steps he’s taking are ones that would be recommended for alot of struggling startups. But not for a major buisness.
Elon is used to moving quickly and breaking things often, as with a startup it’s fine if there are disruptions for a while or take years to become profitable.
He slashed damn near 2/3 of the company, their HRIS systems were in disarray, they removed much of the force that made it advertiser friendly, came up with obscene API pricing (no doubt to try and cash in on LLM companies), and have failed to pay rent and server costs. Elon took a flawed business model and made it significantly worse all while giving a middle finger to their advertisers which is overwhelmingly their primary revenue source.
And that’s just not correct. Twitter is still running. It has still grown in username in the last months. Their business model expanded to a subscription model.
And all this talk about servers and api is just crap talk of unhappy people that do not know how a company is made profitable. It’s the same kind of people that are angry about Reddit and believe Reddit to go bankrupt. What a joke.
@UserDoesNotExist
@lps2 @technology
Not to say his steps aren’t ones that should be taken, it’s the ways and means that alot of people are taking issue with.
When he took over Twitter it was unprofitable, and the steps he’s taking are ones that would be recommended for alot of struggling startups. But not for a major buisness.
Elon is used to moving quickly and breaking things often, as with a startup it’s fine if there are disruptions for a while or take years to become profitable.
Hi there! The links in your response are not clickable for Lemmy users, here are the clickable versions: [email protected]
Alright. That’s a Standpoint I can respect.
I guess the future will show.