Thursday, March 30, 2023

Elon Musk says Twitter could collapse

In a recent conference call, Twitter CEO Elon Musk did warn employees that the company might not “survive could collapse.” The new owner (Elon Musk) of Twitter has said that the company could collapse if it can’t get more money from subscriptions to make up for less money from ads.

According to a Reuters story, Twitter is in a mess because of the departures of several high-ranking employees. Such as the Chief Information Security Officer and the Head of Trust & Safety, Yoel Roth.

Roth’s Twitter bio says that when he did work as a “Former Head” at the company, he is now in charge of policing the platform for hate speech, false information, and spam. Internal Slack messages also confirmed that the Chief Privacy Officer and the Chief Compliance Officer have now left the company. A person who knows about the situation says that Robin Wheeler has taken over as chief advertising officer for now.

Read more: Musk wanted to ban non-paying Twitter users

The US Federal Trade Commission (FTC) is watching Twitter with “great concern,” especially since the company’s top executives it has left as well as the other changes in recent months. Even though this poses a number of regulatory risks for Twitter, Musk’s lawyer Alex Spiro says that the current Twitter staff is having “ongoing constructive dialogue” about these worries.

The FTC is looking into Twitter because it has a history of mishandling user information, like giving phone numbers to advertisers. At best, Spiro’s attempts to fix things are already lackluster. He said, “Elon sends rockets into space, and he doesn’t fear the FTC,” but he didn’t explain why.

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