According to the news of Ukrinform, this was expressed by its owner, Elon Musk. Reuters.

“Twitter’s cash flow is still negative as ad revenue is down 50%. “We need to generate positive cash flow before we can afford the luxury of doing something else,” Musk wrote. twitter in response to recapitalization proposals.

In the report, after laying off thousands of employees and cutting costs for cloud services, Musk said the company cut its non-debt costs to $1.5 billion from the $4.5 billion projected in 2023.

However, aggressive cost-cutting measures after Musk’s acquisition of Twitter in October seem insufficient to generate positive cash flow for now.

Linda Jaccarino, who joined Musk’s company as CEO in early June, told investors about Twitter’s plans to focus on partnerships with writers and commercial companies. She also negotiates with political and entertainment industry figures, payment services and the media she.

Twitter said on Thursday that certain creators will be eligible to receive a portion of the ad revenue the company earns.

As reported by Ukrinform, Elon Musk newly created company presented xAIwhose purpose is to “understand the true nature of the Universe”.

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