In a live exchange with Twitter employees on Nov. 10, Elon Musk warned that the platform is likely to go bankrupt if it continues with its current business model.
Elon Musk wants to transform Twitter’s business model
According to Business Insider, a face-to-face meeting between Elon Musk and the rest of Twitter employees took place at the company’s headquarters on Nov. 10. Here, the new head of the Blue Bird platform reveals he just saved the company when he sold Tesla stock to buy back the platform.
In addition, dozens of talented Tesla engineers have been deployed and hired into key leadership roles to oversee work at Twitter. At that meeting, the billionaire announced the end of telecommuting, warning that “the immediate economic picture is very grim.” When asked by employees about the reason for stopping working from home, Musk explained that the company will operate that way going forward.
When asked about his plan to deal with Twitter employee attrition, the Tesla CEO said, “I don’t know how to answer that, but it’s a tough problem. Some highly motivated people achieve more. A group of moderately motivated people. If you can’t do a good job, then Twitter isn’t the place for you.”
When an employee asked about revenue growth plans, Elon Musk didn’t hesitate to say that Twitter’s current business model is a failure, leaving it at risk of bankruptcy. So he wants to change his business model to generate at least half of his sales from this source and to be less dependent on advertising.
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