this post was submitted on 26 Jul 2023
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Thank you. I hate it when people say Twitter wasn't profitable. It was profitable. It just wasn't an infinite money printing machine like people (investors) wanted. Twitter didn't need investor money or loans to pay all its bills unlike say Tumblr.
Twitter was the victim of the same financial BS as Toysrus.
I've had the impression for a while that Twitter upper management wanted monthly active users on the level of Facebook, Tiktok and other social media. To enrich themselves by way of ad revenue, rather than to create opportunities and experiences for the platform and its users. Then when it became apparent that such a potential opportunity had come and gone (if it was ever there in the first place), they did what was in their minds the next-best thing: They cashed out while they could still find a buyer. Elon's idiotically freewheeling but nevertheless binding offer was basically their winning lottery ticket, so they held his feet to the fire instead of treating it like the thoughtless shitpost it was.