Elon Musk says Twitter is still losing cash because advertising has dropped by half.
In a reply to a tweet offering business advice, Musk tweeted Saturday, “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.”
“Need to reach positive cash flow before we have the luxury of anything else,” he concluded.
Ever since he took over Twitter in a $44 billion deal last fall, Musk has tried to reassure advertisers who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed back on the site.
In April, Musk said most of the advertisers who left had returned and that the company might become cash-flow positive in the second quarter.
In May, he hired a new CEO, Linda Yaccarino, an NBCUniversal executive with deep ties to the advertising industry.
But since then, Twitter has upset some users by imposing new limits on how many tweets they can view in a day, and some users complained that they were locked out of the site. Musk said the restrictions were needed to prevent unauthorized scraping of potentially valuable data.
Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained tens of millions of sign-ups in a few days. Twitter responded by threatening legal action.
The trend highlighted ethical concerns about artificial intelligence tools trained on copyrighted creative works.
The charismatic founder of a startup company that claimed to be revolutionizing the way college students apply for financial aid, was convicted on Friday.
A federal judge has ruled that The New York Times and other newspapers can proceed with a copyright lawsuit against OpenAI and Microsoft.
A magazine journalist’s account of being added to a group chat of U.S. national security officials has raised questions about the Signal app.
The next time you get a call about an upcoming medical appointment you may not be talking to a human. Hospitals are increasingly using AI assistants.
Schools are turning to AI-powered surveillance technology to monitor students on school-issued devices like laptops and tablets. But there are risks.
Hours after a series of outages that left X unavailable to thousands of users, Elon Musk is claiming that the social media platform is being targeted in a “massive cyberattack." Musk said on a post Monday that the attacker is either a large, coordinated group or a country. Complaints about outages spiked Monday at 6 a.m. Eastern and again at 10 a.m, with more than 40,000 users reporting no access to the platform, according to the tracking website Downdetector.com. A sustained outage appeared to begin just after noon Eastern.
The World Video Game Hall of Fame has revealed its 12 finalists for 2025. Members of the public have a week to vote for their favorites online.
An insider account being billed as an “explosive” memoir about “seven critical years” at Facebook/Meta will be published next week.
Extinction is still forever. But scientists at a biotech company are trying what they say is the next best thing to restoring ancient beasts.
