Elon Musk said that Twitter is now not “in the fast lane towards bankruptcy”, but still isn’t “secure”.

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Elon Musk stated that Twitter’s bankruptcy is not an imminent threat. He told the All-in Podcast on Saturday that the new management had “under control” the company’s expenses. Musk had awoken to the possibility that bankruptcy might be possible after securing the $44 billion deal.

Elon Musk stated that Twitter no longer fears bankruptcy because expenses are now under control.

Musk joined David Sacks (PayPal mafia) on the All-in Podcast to comment on Twitter’s new feature, which allows users to see how many people have viewed their tweets.

Musk stated, “We have the Twitter expenses reasonably under control.” Musk said, “So the company is not, like the fast lane towards bankruptcy anymore.”

Musk responded to a tweet by a user who had quoted him as saying: “Twitter may not be secure yet. But it isn’t in the fast lane towards bankruptcy.” There is still much to be done.

–Elon Musk (@elonmusk), December 25, 2022

Insider reported that Musk raised the possibility of bankruptcy during his first meeting with Twitter employees in November after one worker asked what would happen to his plans to increase revenue.

Musk stated in June that he was concerned about Tesla’s survival amid supply-chain problems.

Although bankruptcy is rarely an option for companies in trouble, it may be a good option for Twitter. Musk used it to finance his $44 billion purchase with debts of over $10 billion.

Insider requested comment from Twitter but Twitter did not immediately respond.

Business Insider has the original article.
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By: stabahriti@insider.com (Sam Tabahriti)
Title: Elon Musk says Twitter is no longer ‘in the fast lane to bankruptcy’ – but still isn’t ‘secure’
Sourced From: www.businessinsider.com/elon-musk-twitter-no-longer-in-fast-lane-to-bankruptcy-2022-12
Published Date: Sun, 25 Dec 2022 12:00:17 +0000