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this post was submitted on 16 Aug 2023
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Technology
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It was "Stable", but money losing. Now it's unstable but money losing.
I think that really understates the financial difference. Before Musk, Twitter was at just about break even for years and even had a few profitable years. Now, X is near bankruptcy. It’s saddled with a billion dollar loan while revenue is simultaneously way down as advertisers flee. When I say that Twitter was stable, I also meant financially stable. They had runway to raise more funding or take out loans, and the user base and advertising was growing. X doesn’t have any of those benefits.