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Musk warns Twitter could face bankruptcy

twitter-1500-800-1200×640.jpg 1200w” sizes=”(max-width: 1500px) 100vw, 1500px”/Twitter’s new owner, Elon Musk, has raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US privacy regulator and the exit of the company’s trust and safety leader.

The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for US$44-billion — a deal that credit experts say has left Twitter’s finances in a precarious position.

Earlier in the day, in his first company-wide e-mail, Musk warned that Twitter would not be able to “survive the upcoming economic downturn” if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message said.

Yoel Roth, who has overseen Twitter’s response to combat hate speech, misinformation and spam on the service, resigned on Thursday, two people familiar with the matter said.

In his Twitter profile on Thursday, Roth described himself as “Former Head of Trust & Safety” at the company. Roth did not respond to requests for comment.

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Elon Musk tells Twitter staff that bankruptcy isn’t out of the question: report

Twitter owner Elon Musk told employees on Thursday that he is not sure how much run rate the company has and that bankruptcy is not out of the question, the Managing Editor of tech newsletter Platformer tweeted.

Musk is participating in an all-hands meeting with Twitter employees, a source told Reuters.

Twitter did not immediately reply to an emailed request for comment from Reuters.

The revelation came after reports that several top executives have jumped Musk’s sinking ship — including Yoel Roth, the company’s Head of Safety & Integrity, and Chief Security Officer Lea Kissner.

Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty have also resigned, according to an internal message seen by Reuters.

The exodus follows Musk’s move to swiftly clean house after taking over Twitter for $44 billion on Oct. 27. He announced plans to cut half its workforce last week, promised to stop fake accounts and is charging $8 a month for the Twitter Blue service that will include a blue check verification.

The U.S. Federal Trade Commission said it was watching Twitter with “deep concern” after the social media platform’s top privacy and compliance officers quit, potentially putting it at risk of violating

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Musk warns of Twitter bankruptcy as more senior executives quit

Nov 10 (Reuters) – Twitter Inc’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company’s trust and safety leader.

The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion – a deal that credit experts say has left Twitter’s finances in a precarious position.

Earlier in the day, in his first company-wide email, Musk warned that Twitter would not be able to “survive the upcoming economic downturn” if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message told Reuters.

Yoel Roth, who has overseen Twitter’s response to combat hate speech, misinformation and spam on the service, resigned on Thursday, two people familiar with the matter told Reuters.

In his Twitter profile on Thursday, Roth described himself as “Former Head of Trust & Safety” at the company.

Roth did not respond to requests for comment. Bloomberg and tech site Platformer reported his exit first.

Earlier on Thursday, Twitter’s

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