Twitter’s advertising revenue is plummeting despite Black Friday and a World Cup as commentators scramble to fathom exactly what the plan of the world’s richest person entails.
It’s been just over a month since Elon Musk bought Twitter for $44-billion. In that time, he’s fired the top management, decimated its staff, destroyed the remaining employee’s morale and sent advertisers fleeing for fear that he’ll shatter the content moderation that kept disinformation, hate speech and right-wing fanatics in check.
Musk warned that Twitter was losing $4-million a day – and then seemingly made that shortfall even worse by freaking out the advertisers with his scattershot management style and constant about-turns. It’s one of the many theories that Musk, whose “academic” credentials include Pretoria Boys’ High, is somehow contriving to reinvent Twitter in a better way.As NYU Stern Professor Scott Galloway has pointed out, Musk’s purchase of Twitter is not a company unravelling – but Musk himself losing it.It’s hard to disagree. Nothing the Pretoria schoolboy is currently doing seems to make sense. Many commentators point to some inherent genius strategy that nobody but Musk can see.
In the UK, which is Twitter’s largest market in our region, there is an expected loss of $12-million. It’s an own goal, however you look at it – like letting Damian de Allende ever kick a ball on attack. It never works out.
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