Elon Musk’s X can’t send Blue subscribers their ad revenue-sharing payouts on time
3 years ago by Ignacio to c/technology
I wish I could get paid as much as a CEO to do nothing
She is giving Tom Wambsgans with Lukas Matsson, human punching bag vibes.
She’s like twitters version of Ellen Pao.
She probably does a lot and then musk inserts himself into random situations and fucks it up. She says "okay eng team build Foo" and then next week Elon goes on a rant and cancels Foo without consulting her.
He wants a kiss.
In July, Musk tweeted about Twitter / X’s financial situation, saying, “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load.”
Advertising could be up two fold for all it matters. You sack a company that last turned an annual profit in 2019 with $44B in debt, it won't matter if Musk is shitting gold bricks. You can't pay that size of debt off fast enough. To just get started on that debt Musk would need to make Twitter twenty times more profitable than their 2019 profit. And even then that debt is going to be a monkey on his back for forty years in ideal conditions.
That $44B isn't chump change for Twitter, like maybe if Tencent took a sudden $44B debt they'd make good on it, but they're wildly profitable. Twitter barely gets by and has only gone on this long because of the Tech Bro funding that all but dried up when the interest rates were going up.
I can't wait to see how his offer to pay people's legal bills who get in trouble at work for saying problematic shit on his platform works out
Alot like Trumps promise to do the same thing would be my guess
The last thing Twitter needs right now is to find more clever and creative ways to spend money, especially on other peoples legal problems
Twitter wasnt saddled with 44B in debt, That was the purchase price, which included $13B in debt
what?
You know how some companies make vibrating dildos? Twitter should do that.
So it'll vibrate every time someone says "woke" on the platform?
You know, like the Gavin Belson Signature Box III.
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Piped is a privacy-respecting open-source alternative frontend to YouTube.
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IDK, I imagine they're online service is pretty profitable.
Because "you don't get rich by paying your bills" according to them.
All you have to do is make coffee at home, don't eat avocado toast and work 25 hours a day. That way you can become a billionaire too.
Avocado toast has such power! It's strange that if I eat an avocado and toasted bread separately, there's no impact on my financial outlook, but the second I combine them, blammo!
If you’d be born wealthy, it would be pretty stupid to listen to them explaining how to get rich, unless you want to piss away your and your daddy‘s money. Elon hasn’t made it quite the way (but he is getting there), but Trump Sr. must be very disappointed.
From what I've read, trump's dad was every bit the sociopathic, evil, criminal, that trump is, he just wasn't a doofus like trump. So he probably pretty proud, except for the doofus, low-class part.
He's is literally the wealthiest person in the world
Grifters gonna grift
How does space x fit here, again? These are crazy people.
He cannot even manage to pay the rent due on the office space. Hardly a shocker that he's having trouble paying the revenue-sharing bills as well.
He can pay. He chooses not to, then acts like staying in SF is a grand show of loyalty (no one else will rent to him, he's a deadbeat).
He's pure gift who has managed to have companies that work despite him. He's the Zaphod Beeblebrox of business. But both heads are empty.
Elon can't deliver on a promise. I'm shocked.
Still waiting for the hyperloop…
Twitter*
I have immense difficulty feeling sorry for any of the members of Elon's Rent-a-Fascist program. He's a huckster, everyone knows he's a huckster, and the people who don't or refuse to believe it will have to learn that lesson the hard way.
He doesn't want to and it would be really bad for him to involve his personal wealth in the company. They need to be separate when twitter goes bankrupt. It is also very unclear what his actual wealth is.
This is the best summary I could come up with:
In news that isn’t very surprising given the recent history of Twitter, which Elon Musk is currently rebranding to X, the company won’t be able to make some promised payments on time.
That’s not exactly what you’d want to hear from a program touting itself as “part of our effort to help people earn a living directly on X,” and the key to Elon Musk’s X dream for an app that handles banking, stock trading, and other vital financial features.
Musk announced the revenue-sharing plan in February, and the company sent out the first round of payments for eligible accounts (with paid verification via Twitter Blue or Verified organizations, 15 million “organic” impressions in the last three months, and at least 500 followers) a couple of weeks ago before opening up registration to more people.
However, hearing that payments aren’t arriving is familiar news to a number of people and organizations involved with X / Twitter since Musk’s takeover.
A Wall Street Journal article in February counted nine lawsuits covering $14 million in unpaid bills at the time.
In July, Musk tweeted about Twitter / X’s financial situation, saying, “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load.”
I'm a bot and I'm open source!
Elon is directly and personally responsible for both the acquisition of massive and unsustainable debt and for the cratering of cash flow through loss of advertisers.
But definitely trust them with your money! They're gonna be a bank!
lol Elon sucks.
This belongs in !enoughmuskspam@lemmy.world
Yes, please keep all the Elon shit nearly packed into one sub that I can block.
Enshittification continues…
Mac wants the flamethrower!
I hope this is sarcasm.
It is normal for features to be delayed in their launch. This feature has already been launched. I know it has been launched because for two days every rightoid grifter bragged about the money that was paid out in order to boost subscriptions for Elon. This is a case of not paying your bills. That is not normal, that is usually a Herald for bankruptcy.
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@lemmy.ml
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
Ask in DM before posting product reviews or ads. All such posts otherwise are subject to removal.
Rules:
1: All Lemmy rules apply
2: Do not post low effort posts
3: NEVER post naziped*gore stuff
4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.
5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)
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But Musk has. It’s clear who is running things.
save