Elon Musk says that Twitter is struggling with a 'heavy debt load' due to losing 50% of advertising revenue.
FILE PHOTO: Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File PhotoElon Musk said Saturday that Twitter is struggling with a "heavy debt load" due to losing 50% of advertising revenue, resulting in the platform having a negative cash flow.
"We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else," Musk
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