That Twitter’s economic situation is not good is nothing new. In fact, it’s been something present and familiar since Elon Musk starred in the soap opera that became the purchase of the social network. So much so that the more time passes, the clearer it seems that the first steps of the purchase operation were all bluster and that he didn’t really want to buy it, but that he went too far with it and with lawyers and judges involved, he had no choice but to go all the way to the end.

Concerned about the impact of buying Twitter on its finances, the first thing he did once he took control of the company was to start cutting expenses: from laying off thousands of employees to stopping paying rent for the social network’s offices around the world, substantially reducing the benefits of those who remained employees, and of course they make decisions like turning the screw on Twitter Blue to try to generate more revenue.

All of this would be perfectly understandable in the hands of a normal CEO, but of course we have to add the strange figure of Elon Musk to the shaker, who is like a narrow one in cocktails, it only takes one drop, two cans to completely destroy the glass. And of course we’re talking about Musk, so the amount of him that entered the mixer far exceeds the sum of his other elements. Something that seems like a good idea in a society that is fundamentally dependent on advertising.

So as we can read in The Information, Twitter’s ad revenue fell 40% year over year. (year after year). due to the loss of advertisers and the lower volume of contracts of those who still remain. A recent report claims the social network has lost fourteen of its top 30 advertisers, most of them since Musk’s arrival. Additionally, the four advertisers cut spending between 92% and 98.7% from the week before Musk’s acquisition to the end of 2022. Overall, ad spending for the top 30 companies fell 42% to an estimated $53.8 million between November and November. December together.

Therefore, the accounts remain unsettled. It’s true that the new management has substantially reduced Twitter’s operating costs and continues to look for ways to improve its revenue, such as allowing Android’s Twitter Blue to be contracted. The problem, the main problem, lies in Musk’s verbal incontinence and the elimination of content moderation teams, an indivisible pack that, as we’ve already confirmed, don’t like anything when it comes to investment. millions in advertising.