The Blubber

Per CNBC

Elon Musk once held a poll asking his audience on Twitter whether he should step down as CEO, and once again, the billionaire has said that he plans to step down, but this time he said that he would before the year ends. However, the CEO gave a condition, saying he needs to ensure that the social platform becomes financially healthy first.

Before the end of 2022, the CEO shared how Twitter is projected to cash flow break even by the end of 2024. This was after his previous statement saying the social platform was in a dire financial situation and was headed to bankruptcy.

Since then, Musk has been doubling down on trying out new features to Twitter, with announcements of monetization and other features to be added. This comes as Tesla investors were concerned that the CEO was distracted by what was happening at Twitter.

Musk gave a statement during the World Government Summit in Dubai, sharing what he first needs to do at Twitter. The CEO then said that his estimation was that the company would be stable by the end of the year.

Musk: “I think I need to stabilize the organization and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,”

The Tesla and Twitter CEO shared how he once thought about creating his own social media company versus buying one. He then weighed the pros and cons and decided that the three to five years that it would have cost to build a social platform would have been "worth a lot."

Musk: “I thought about creating something from scratch, but I thought Twitter would perhaps accelerate progress versus creating something from scratch by three to five years."

Recently, Twitter decided to allow 4,000-character tweets for Twitter Blue subscribers. This feature was one of the long-awaited features that Musk said he would add to the social platform.

See flow at unusualwhales.com/flow.

Other News:

• Elon Musk Projects Cash Flow Break Even for Twitter by the End of Next Year
• Twitter now allows for 4,000-character long tweets for subscribers of Twitter Blue

Resources:

CNBC