Elon Musk & Legendary Software Engineer George Hotz Talk Twitter
Elon explains that Twitter was on track to net cash outflows of $6 billion dollars in 2023. While revenue had been tracking at $3 billion.
Elon Musk & George Hotz talk transparently & in-depth about Twitter's multiple Operational, Engineering, Financial, & political housefires on Twitter Spaces.
Twitter's current priority stack according to Elon Musk:
The most essential first step was to "cut the burn rate" financially.
Restructure the advertising model from "fuzzy" brand advertising to
advertising with a "clear ROI".
Create meaningful revenue streams including $8 "Twitter Verified" to
reduce reliance on advertisers.
Allow companies to identify & verify who belongs to their organization.
Elon explains that Twitter was on track to net cash outflows of $6 billion dollars in 2023. While revenue had been tracking at $3 billion. For a negative cash outflow of $3 billion without taking drastic action over the past 6 weeks.
Twitter is holding $1 billion in cash on hand.
Elon also reiterates during this discussion, "We should hew as close to the law as possible in any given country."