Twitter bankruptcy not out of the question, Musk says

According to new Twitter owner Elon Musk, it cannot be ruled out that the social network will be declared bankrupt next year, as there are risks of facing “an outflow of funds of several billion dollars.” It is reported by The Information.

Earlier, Musk sent messages to all Twitter employees warning of “hard times.” The entrepreneur demanded that all employees return from remote work to the office. He also noted that Twitter has become heavily dependent on advertising contracts, it is necessary to make sure that the paid subscription of users brings half the income of the social network. “There is a difficult road ahead, and hard work will be required to achieve success,” Musk emphasized at the time.