Elon Musk does n’t have a smashing track record of saying things that then come rightful . Or , put another style , he loves to make promises and then break them . Or , put yet another manner : the man is full of it . For instance , he ’s repeatedly said his biotech gimmick society , Neuralink , is nearing human trial approval . Spoiler alert : it ’s not .
While it ’s impossible to foretell the futurity and say for certain that Musk ’s unexampled title about Twitter ’s monetary resource is 100 % untrue , Gizmodo can tell you that it is … very unconvincing . Just a couple months ago , the man was reportedly looking to raise $ 3 billion from investorsand take bankruptcy was a trenchant possibility for the societal company .
Shall we apace go back to Musk ’s many past better promises?There was that time in 2016when the multi - hyphenate chief executive officer wrote that Tesla would expand its EV fomite line to “ address all major segments ” of transportation , let in “ in high spirits rider - denseness urban transport , ” within a year . It did n’t . And , in fact , Musk has sinceseemed to abandon any pursuit of mass transportation technology , aside from the super lame , Las Vegas “ grommet ” which is not really aggregated transit at all , butinstead a glorified unmarried - lane burrow .
C’mon, why wouldn’t you trust this guy?Photo:Pool(Getty Images)
How about whenMusk he tell he would n’t fuel three - quarters of Twitter staff , take after his acquisition of the platform?Well , he did — and then some .
As part of Musk ’s $ 44 billion Twitter purchase , hesaddled the social party with well-nigh $ 13 billion in loan . The first interestingness requital on that debt , alone , likely costan estimated $ 300 million . Managing the debt will cost the company an estimated$1 billion per class , according to Bloomberg . To make up that difference , Musk would have to unlade around 8,500 employee ( about ~1,000 more than Twitter had prior to Musk ’s takeover ) , assumingan mean remuneration of $ 117,000 / class .
There ’s also the fact that Twitter is under flame fornot pay commercial rentat some of its office buildings . Sure that might ab initio save some money up front , but in the long run defaulting on split will end up cost the party as it racks extra , accrued debt and legal fee . Speaking of legal fee , Twitter isfacing multiple lawsuitsfromformer employeesalleging discrimination and labor violations — that’ll cost the company something too .
Though Musk has hollowed out Twitter to the good of his ability so far , there ’s likely not enough multitude for him to fire to recoup the costs find by buy the company in the first property and mismanage it since . Plus , we know that he ’s had to bring on at least two new stave members : his bodyguards . The billionaire has made so many ( real or perceived ) enemies at the societal media platform he now have , that he is accompanied at all sentence by at least two beefy surety men — even on bathroom trips , accordingto a BBC write up .
Then , there’sall the advertising revenue Twitter has lostand thefailure of attracting subscription revenue through Twitter Blue . Though Musk claimed his chopine was pull ahead user , that does n’t necessarily translate to an increase in gross . Further , now that Twitter has gone private , the company is n’t take to report things like user number , or tax income — there ’s minimal accountability here .
Finally , story does n’t bode well for the validness of Musk ’s “ capital - positive ” soon promise . Prior to the billionaire ’s skill , Twitter had only ever hadone profitable year(2019 ) in its approximate - decade as a public party . Though it ’s a website that ’s unspoiled at vacuum up my time and attending , it ’s not great at making money .
Among other bonkers things Musk said during the group discussion consultation : that Tesla ’s next generation carwould maneuver mostly autonomously , harmonize to Reuters . Even though Tesla ’s number one wood assistance software iscurrently on pause after a safety reminiscence , and the caller isfacing multiplefederal investigationsover possible pretended claims and rubber offspring connect to the the ( not ) “ Full ego - Driving ” feature .
Musk further opinedthat X , his theoretic “ Everything App ” could “ become the biggest financial creation in the world , ” despite not yet subsist . He alsodescribed Twitter as a more reliable , less bias news source than the intelligence media , and essentially said that , without his weapons platform , democracy and civilization on Earth could fall apart alone .
Bonus : Towards the destruction of the Morgan Stanley consultation , Musk claim SpaceX advances would make liveliness multi - planetary , and waxed poetic about the legion long - drained “ one - satellite ” civilizations he believes once existed around the universe .
All in all , it ’s a whole clustering of big predictions from a guywho ca n’t even render a truck on time .
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