Surprise Interview with BBC... "Profit Expected as Early as This Quarter"
Twitter Staff Count Plummets from 8,000 to 1,500
Elon Musk, CEO who acquired and operates the social networking service (SNS) Twitter last October, said in a surprise interview with a media outlet on the 11th (local time) that most of Twitter's advertisers have returned and that the company is "almost breaking even."
In an exclusive interview with BBC on the same day, Musk said that most advertisers who had stopped advertising after the acquisition have returned or will return. Although Musk did not disclose specific company names, he emphasized, "If everything goes well, cash flow could turn positive as early as this quarter."
After Musk acquired Twitter last year, various well-known brands such as General Motors (GM), Audi, Pfizer, Dyson, and Forbes successively stopped advertising on Twitter. At the time, these companies cited concerns over increased hate content and uncertainty due to the departure of key executives as reasons for halting advertisements. Most companies described their actions as a "temporary suspension."
BBC, reporting on Musk's remarks, described them as "ambiguous claims that cannot be immediately verified."
Musk said that immediately after the acquisition, Twitter's cash flow was negative $3 billion (about 4 trillion won), and extreme measures had to be taken to improve the situation, with large-scale layoffs carried out in that context. As a result, the number of employees, which was close to 8,000 at the time of the acquisition, has been reduced to 1,500. Due to the significant reduction in staff, one of the two Twitter headquarters buildings in San Francisco is unused, and Musk mentioned that he wanted to convert it into a homeless shelter, but the building owner did not permit it.
Musk said that he was put in a situation where he had no choice but to acquire Twitter last year, describing the experience of running Twitter as a roller coaster and "quite painful." He reflected on the time when he announced his intention to acquire Twitter in April last year, withdrew during the process, but was ultimately forced to complete the acquisition by court ruling. He also said that he often sleeps in the Twitter headquarters office and that there is a sofa in the library where no one goes.
Musk stated that Twitter's goal is to become the "most accurate platform" possible. He explained that no system can be perfect but aims to create a platform that is as truthful as possible. He also hinted that SNS without a 'paid verification' service will find it difficult to survive in the future.
The interview with BBC was said to have been conducted suddenly. The two-hour interview held via Twitter Spaces was watched simultaneously by 3 million people. Bloomberg News criticized, "During the two hours of rambling about Twitter, Musk avoided (important) questions."
James Clayton, BBC correspondent who unexpectedly conducted the interview with Musk, reported that there were "bizarre moments" during the interview, including Musk making random jokes. He pointed out Musk's repeated joke, "I am not the CEO of Twitter; my dog is the CEO of Twitter." Clayton explained, "It seemed that Musk used humor to evade difficult issues when questioned."
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