Twitter CEO Elon Musk expects the social media platform to be “cash-flow break-even” next year as the company’s cost-cutting and new revenue-generating measures averted a $3 billion shortfall.
During a Twitter Spaces discussion on Wednesday, Musk revealed that the business was headed toward a “negative cash-flow situation of $3 billion a year” when he became the owner. This explains why he had been “cutting costs like crazy.”
“That’s the reason for my actions,” he said during the chat, adding that he’s not “naturally capricious.”
“We have an emergency fire drill in our hand,” Musk noted. “This company is like, basically, you’re in a plane that is headed toward the ground and high speed with the engines on fire and the controls don’t work.”…