Elon Musk’s Twitter Takeover: Chaos, Resignations, and the Edge of Bankruptcy
After snapping up the social media giant for a staggering $44 billion (about S$62 billion), Elon Musk’s Seattle‑based new leadership has turned Twitter into a high‑stakes reality show. Employees have been told the company may be heading toward bankruptcy, and senior executives—twice the size of a small drone—have started to quit faster than a meme’s lifespan.
Key Departures From the Twitter Hierarchy
- Yoel Roth – The man who used to talk about “safety and integrity.” He’s leaving after boasting that Twitter cut harmful content in search results by a whopping 95 %.
- Robin Wheeler – The ex‑advertising superstar who pitched to ad‑heads on the platform’s own Space chat. She’s gone, apparently to not miss the daily chaos any longer.
- Lea Kissner – The Chief Security Officer. She tweeted her exit in a single, crisp message.
- Damien Kieran – Twitter’s Chief Privacy Officer, also stepping down.
- Marianne Fogarty – The Chief Compliance Officer, who’s left the company without a notice of resignation.
These resignations have put Twitter in a precarious spot. The FTC is now watching with “deep concern,” fearing the company might violate regulatory orders without those crucial privacy and compliance roles.
Musk’s Bold Predictions—and His Threat of Bankruptcy
During his first all‑hands call, Musk waved a grim picture: Twitter could lose billions of dollars next year. The “information” was short, but the message was loud— “We might go bankrupt.”
Why the grief? Musk has carried a $13 billion debt on the company, with looming interest payments of around $1.2 billion over the next year. That’s more than the $1.1 billion cash flow that had been declared by the end of June.
He also said he’d cut the workforce by half, rumored to be a mass lay‑off, and has finally introduced a paid Twitter Blue plan for $8 a month, promising verified blue checks. Think it’s a game‑changer? Maybe. Think it’ll stop the money exodus? That’s another story.
What Twitter’s Might Mean for the Future
With the acclaim of a “private platform” and a new subscription tier, Musk hopes to gain back the trust of advertisers. Remember, the platform was previously losing a staggering $4 million a day—mainly because advertisers left.
While that might sound like a corporate drama, Twitter’s financial wrecking-ball is real, and the exits of three top hand‑singers could make the platform stumble, not to mention the looming interest payment structure that could be a killer.
Will Twitter rise or fall? It’s a cliff‑hanger, but one thing’s clear: this platform’s roller‑coaster is about to get a few extra loops.
Warning
FTC Scrutinizes Twitter: A 150 Million‑Dollar Settlement & Musk’s Unshaken Attitude
In a sarcastic slap‑down at the headline‑hungry social media behemoth, FTC Director of Public Affairs Douglas Farrar told Reuters, “We are tracking recent developments at Twitter with deep concern.” He added, “No CEO or company is above the law, and companies must follow our consent decrees. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them.”
What the Settlement Looks Like
- 150 million dollars – Twitter agreed this in May to settle an FTC claim that it misused private data (think phone numbers) for ad‑targeting after promising it was all about security.
- It’s a big chunk of change, but the FTC says the money alone won’t stop Twitter from these lopsided practices.
Internal Note & The Big “Risk” Deal
Inside the agency’s own memo a lawyer quoted Twitter’s legal chief Alex Spiro, “Musk was willing to take a huge amount of risk with Twitter.” The lawyer then threw in a meme‑ish line: “Elon puts rockets into space, he’s not afraid of the FTC.”
No Reaction From the Party Involved
- Twitter hasn’t replied to the question about the note.
- Spiro himself has been quiet for now.
What This Means for Musk & Global Politics
- After acquiring Twitter, Musk—who’s no stranger to political debates—faces looming pressure from nations keen on controlling online speech.
- President Joe Biden even added, “Musk’s cooperation and/or technical relationships with other countries are worth looking at.”
Bottom line? The FTC is not sleeping on Twitter. Meanwhile, Musk keeps shooting for the stars—so Martian colonies, watch out, those regulatory rockets might follow.
Advertisers not reassured
Musk’s Grand Twitter Dream: Truth, No Fake Accounts, and a Plot Twist on Remote Work
Elon Musk swung into a Twitter Spaces talk on Wednesday, promising advertisers that he’ll crank up the truth‑meter on his social media juggernaut and scrub out those pesky fake accounts. But is that really enough?
Brands Taking a Hit‑Pause
- Chipotle Mexican Grill announced on Thursday it’s pulling back all paid and owned content on Twitter. “We’re stepping back to better understand the new direction under Musk’s leadership,” they said.
- Not alone – General Motors and several other big players have stopped advertising. The fear? Musk’s rule changes might loosen content moderation, turning Twitter into a chaos carnival.
Remote Work is Off the Menu
Musk’s first email to all Twitter employees landed Thursday. Remote work? Not going to be a thing anymore. He expects everyone to be in the office for at least 40 hours per week. Talk about a corporate twist‑your‑back!
Why Advertisers are Nervous
With the platform potentially turning into a “free‑for‑all,” advertisers are skeptical that their messages will hit the right audience. They’re holding onto hope that Musk’s “truth” pitch will actually be a reality.
Bottom Line
Elon’s pledge to make Twitter a bastion of truth feels like a bright promise in a dark storm. Companies like Chipotle and GM have put their ads on hold, and the company is flipping the remote work script altogether. Will Musk keep his word, or will Twitter stay a slippery platform for advertisers? Only time will tell… but the world’s watching, coffee in hand, ready to laugh at the next chapter.
