Twitter roundup: bankruptcy threat, top staff leave, Musk's payment system plans

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Tesla CEO Elon Musk said Twitter hit an all-time high of active users on Thursday, shortly after the platform announced they were using an "official" label as an added layer of authenticity to accounts.

"Hit all-time high of active users today," Musk tweeted, echoing his past remarks about the company's success under his ownership. An internal document recently claimed that daily active user growth crossed 250 million in the first week of Musk's leadership.

"Twitter user numbers have increased significantly around the world since the deal was announced," Musk wrote on Sunday. "And these are very early days. As Twitter becomes by far the most reliable source of truth, it will be indispensable."
 
Elsewhere, the Twitter boss talked about his plans to turn the company into what sounds like a bank of sorts, complete with debit cards, checks, and loans. Musk says that Twitter users will receive a balance that can be sent anywhere in the system, which could be a way of tipping people or paying for paywalled content. He added that the site will set up a "high-yield money market account so that having a Twitter balance is the highest-yield thing that you can do," and that instead of a traditional banking system, users can have "one balance on Twitter that can simply go positive or a negative.
This is essentially the only venture Musk is good at, taking money out of other people's pockets, at putting it into his.

Since he was a founder of Paypal, all you're describing is a riteration of the same strategy..

Me being out of touch with modern life, I'm going to hold on to my Visa, Mastercard, and debit cards from my local bank.

PayPal, after all, is an interest-less bank account, you pay money to have them give money to another entity, while keeping some for themselves. It's fine for people without a decent credit rating. For those who do, it's pure nonsense..
 
@fp4ever I tried to quote your post #26. However, it appears you had nothing to say., and are pedantically reading the article back to us.
I figure that most of here can read, and we don't need your help.

I really don't care what you have to post. Comment or not who cares.
 
Musk: "Usage of Twitter continues to rise."
Also Musk: "Bankruptcy isn't out of the question"

Conman.

Increased membership does not mean increase AD revenue, which is their biggest income stream. If true it may get better but that does not mean the way it was run for years bankruptcy is out of the question if it doesn't turn around soon enough. That "conman" word doesn't hold up in this instance.
 
Musk: "Usage of Twitter continues to rise."
Also Musk: "Bankruptcy isn't out of the question"
Please refer to my post #29
Very true. I should have added, "a plea to do more with less employees", nothing more.

Both the miller's and butcher's trades are many centuries old. You do have to be quite skilled to separate the wheat from the chaff, and the fat from the meat. And while I'm fairly certain that there was some "dead wood" at Twitter", is Musk the skilled lumberjack he needs to be?

(I do apologize for that hopelessly tangled metaphor)...
 
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Blaming it on the previous upper administration is rather disingenuous, IMO.
Well, one can't exactly say that the previous administration was any good. If it were, then Twitter would never have been in the state that it is. It was badly run but I have no belief that Musk will do any better.
 
The usage of fiat money is toxic (lots of legal complications) and inefficient (tax leaks).

It's much better to just use bitcoins ( or Raven which has similar logo and technicaly is an improvement to Bitcoin) which they are “give-it-and-forget-it”. There is not even a need for a bitcoin to fiat exchange gateway (lots of bureaucracy with the identification, and the more people use the coin the more value it gets.), just a rating system for sellers and buyers (like ebay) and a fiat to coin exchange gate (as easy to use as possible). People aren't going to exchange expensive things (services will be the most popular), if they lose a few millibitcoins it won't be the end of the world.

The users they will rely on the review system to avoid such situations and on their own self managed independent private wallets.
 
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I think Musk will do fine and if not he might or will have other options. Just gut Twitter and start all over again, and it can be something else too. People who are mad at Musk for buying Twitter should blame the shareholders who accepted the takeover deal. Shareholders got their money and now could care less about Twitter. Do you think that Jack Dorsey when he left cared about Twitter? I doubt it. Rich people stick together.
 
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He is a very clever boy. There is reason why all media companies are owned by the same few families. Its extremely hard to get control of an outlet that has a strong presence. Musk is a genius.

I'm not sure Eli Lilly would agree with you. He is a genius to those that want to believe in the cult of Musk, to the rest of us he is a game playing manchild.
 
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