this post was submitted on 05 Jul 2023
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Twitter was locked in a chaotic doom loop. Now it’s on the verge of collapse | Siva Vaidhyanathan (www.theguardian.com)
submitted 1 year ago by biggiepants@lemmy.world to c/technology@lemmy.world
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[–] DevCat@lemmy.world 25 points 1 year ago

On the next season of The Sopranos reboot:

Since the day he proposed taking over, Musk has demonstrated no interest or expertise in how such a service might enhance the lives of its users or at least make money to stay afloat. He’s run it on debt – debt accrued from some of the most dangerous people in the world.

With the new debt Musk took on to complete the purchase of Twitter stock and take the company private, the company’s annual debt payments ballooned to about $1bn a year. Yet the company’s operations in 2021 generated about $630m in cashflow.

Get your popcorn ready.