More Twitter execs quit
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Updated 58 minutes ago
More Twitter executives headed for the exits as new CEO Elon Musk warned that bankruptcy was a real possibility for the platform, multiple news outlets reported Thursday. Among the executives said to have resigned were Yoel Roth, head of trust and safety and Robin Wheeler, a sales vice president who was overseeing relations with advertisers. A day earlier, the company’s chief privacy officer, chief information security officer and chief compliance officer resigned. Those departures raised concerns that the company might breach a consent decree with the Federal Trade Commission over how Twitter handles user data.
- In his first companywide call with employers Thursday, Musk said the company may have a “net negative cash flow of several billion dollars” next year and that “bankruptcy is not out of the question,” The Information reported.
- On the call, Musk reinforced a policy announced earlier in the day requiring all staff to be in the office at least 40 hours a week, saying that if a worker doesn’t show up, “resignation accepted.”
- The company’s new $8-a-month subscription service, Twitter Blue, has resulted in a flood of fake “verified” accounts on the site. A fake account purporting to be Eli Lilly said it would now start handing out free insulin.
Jeremy Smith• 2ndPresident Launchpad1h • Edited • 1 hour agoFollow
Musk says Twitter could go bankrupt. You never know how much of what Musk says is true or false because so many of his comments do not come to fruition. In fact he said he would not be selling more Tesla shares to pay for Twitter or anything else yet but that’s exactly what he did. You have to question his judgment on this acquisition based on the huge losses Twitter is generating.
‘Economic Picture Ahead Is Dire,’ Elon Musk Tells Twitter Employees
nytimes.com • 7 min read
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🚨 BREAKING: Yesterday, Elon Musk hosted a townhall with two Twitter execs to win back advertiser trust. Today, both those execs resigned. Can Twitter still win back advertisers? 🤔
Advertisers have expressed concerns about Twitter’s brand safety after Elon Musk’s takeover.
Musk says Twitter has suffered a “massive drop in revenue” after major brands pulled their ads.
Yesterday Twitter hosted a call in Twitter Spaces to quell advertisers’ fears.
The meeting was led by Musk and two other executives: Robin Wheeler, Twitter Client Solutions Leader, and Yoel Roth, Twitter’s Head of Trust & Safety.
Today, both of those executives resigned, reports Bloomberg.
This week also saw the resignations of Twitter’s Chief Information Security Officer, Chief Privacy Officer and Chief Compliance Officer.
Meanwhile, the FTC said it was “tracking the developments at Twitter with deep concern” and wanted to ensure that Twitter was complying with a previous privacy settlement.
Which raises the question ….
Can Twitter win back the trust of advertisers? 💙
#elonmusk #twitter #litrendingtopics
Can Twitter win back advertisers? 🐦🤝
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Yes 👍
32%
No 👎
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1,047 votes •
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Daniel Howley• 2ndTech writer and editor at Yahoo Finance1h • 1 hour agoFollow
Elon Musk says that Twitter could file for bankruptcy if it doesn’t make enough cash in 2023.
Elon Musk reportedly said Twitter could file for bankruptcy next year
finance.yahoo.com • 2 min read
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“Musk tells Twitter staff: Bankruptcy isn’t out of the question- Platformer”
That would be one of the fastest ways to light $44B on fire.
Elon just can’t let anyone (SBF included) outdo him on anything!
Musk tells Twitter staff: Bankruptcy isn’t out of the question- Platformer By Reuters
investing.com • 1 min read
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Yahoo Finance77,248 followers1h • 1 hour agoFollow
Elon Musk’s tenure at Twitter got even bumpier on Thursday, as he reportedly told employees during an emergency all-hands meeting that he can’t rule out the company filing for bankruptcy in the next year.
Musk made the announcement during the all-hands meeting after an employee asked about the company’s current run rate.
https://yhoo.it/3tlrNz6
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And the Twitter exodus continues…
I’ve been in tech so long that I remember when there was no Silicon Beach, Weworks weren’t a thing, html5 was barely a few months old, WordPress was de riguer and I’ve heard all sorts of horror stories from candidates and hiring managers alike, but this Twitter implosion trumps everything I’ve witnessed all these years!
#Twitter #infosec #cybersecurity
Twitter chief information security officer Lea Kissner departs
techcrunch.com • 3 min read
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Paula Seligson• 3rd+Corporate Credit Reporter at Bloomberg News2h • 2 hours agoFollow
Wild Twitter news today.
Elon Musk said that bankruptcy is a possibility. That’s not good news for the seven banks holding the debt! What is that debt worth? Maybe a mere 60 cents on the dollar. Stellar story by claire ruckin, Davide Scigliuzzo, Gillian Tan, and Jill Shah
Story on the 60 cents possible value: https://lnkd.in/eBVQaddh
And story on the bankruptcy comments: https://lnkd.in/e7zDzGW8
#twitter #elonmusk #twittertakeover #leveragedfinance #leveragedloans #highyield #LBO
Twitter Buyout Loans Get Bid at 60 Cents as Banks Sound Out Investors
bloomberg.com • 1 min read
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David Meinhard• 3rd+Lawyer at David Meinhard Esq LLC2h • 2 hours agoFollow
Per this article, the FTC’s potential intervention into how Twitter operates, in particular regarding its privacy and security practices doesn’t bode well for Twitter and Elon Musk. Twitter was previously subject to a consent order with the FTC, and with top privacy and security professionals leaving the company it’s hard to imagine what happens next.
Twitter’s content moderation head quits as departures alarm the FTC
washingtonpost.com • 9 min read
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Brand impersonations… more executives leaving… and now regulators are watching closely: Is this the beginning of the end for Twitter?
Twitter is Falling Apart at the Seams
Tod Maffin on LinkedIn • 5 min read
Honestly, you have to wonder what Nintendo was thinking. Yesterday, with no context or reference to a forthcoming game or anything, Nintendo’s social
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Ketki Saxena• 3rd+Chief Editor, Canada – Investing.com5h • Edited • 5 hours agoFollow
Musk’s first email to Twitter staff ends remote work
After firing 50% of Twitter’s workforce, Musk now expects remaining staff in office “at least” 40 hours a week.
As Mr. Musk is the CEO of four other companies, I’m curious about how many hours he will be spending in Twitter offices. The Tesla, SpaceX, BoringCompany, Neuralink, and now Twitter CEO is however famously (or infamously) known to work 100 hour work weeks.
Can he balance the workload? Tesla shareholders think not 😳
https://lnkd.in/ggcqUyxT
#twittertakeover #elonmusk #elonmusktwitter #elonmusknews
Musk’s first email to Twitter staff ends remote work – Bloomberg News By Reuters
ca.investing.com • 1 min read
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Jennifer Elias• 2ndTech Reporter at CNBC.com6h • 6 hours agoFollow
In his first company-wide email to Twitter employees, Musk said he was ending the company’s “work from home forever” policy. Musk now wants employees to be in a Twitter office at least 40 hours a week.
He also said the company needs subscriptions to survive a downturn.
Read Elon Musk’s first email to all Twitter employees: Remote work over, company needs subscriptions to survive downturn
cnbc.com • 3 min read
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Kurt Wagner• 3rd+Tech Reporter at Bloomberg8h • 8 hours agoFollow
Twitter employees finally heard from new owner Elon Musk almost two weeks after he acquired the company: He sent an email in the middle of the night warning of “difficult times ahead” and banned remote work starting immediately.
“Starting tomorrow (Thursday), everyone is required to be in the office for a minimum of 40 hours per week.” I imagine this will push a lot of people to the exits. #remotework
Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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How has the concept of announcing mass layoffs by email – after which, in most cases, that email communication channel is immediately shut down – become an acceptable practice? And what a juxtaposition between the colossal amount of effort that #TA professionals went through to nurture, entice, interview, assess, secure and onboard each one of these individuals on a singular basis..
And then, with just one click of a button, all of the endeavours that went into facilitating remote working – first out of sheer necessity and then out of preference (and, many would, say maturity) – count for nothing.
Staggering.
Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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Adam Gonnerman• 3rd+Program Manager, Portfolio Delivery | AMC Networks10h • 10 hours agoFollow
Imagine being so out of touch that you would carry out drastic layoffs AND take away remote work right when you need employee loyalty and dedication most.
Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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If you want to create massive change, you need to massively change.
Only true believing, hard-working employees will survive into the new era of Twitter – weed the comfortable and weak out with clear and high expectations of the future.
As a fan of chaotic transitions, I completely approve of much of how Twitter is being handled. It’s not the Twitter of yesterday, but a Twitter in transition to something we won’t recognize, for better or worse.
It’s easy to judge the changes in real time, but that’s unfair to the long-term vision of Musk and co. I imagine we won’t know the effectiveness of these changes for a year or more.
Bloomberg News11h • 11 hours agoFollow
Elon Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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Walid L.• 2ndToo curious to fit in a box.10h • 10 hours agoFollow
The end of #remotework for #twitter employees.
Is this just another way of getting even more people to leave the company?
If it is really an economic issue, how does bringing back people to offices reduce costs?
This is from July 2022 from the site Fortune.com:
“Twitter Inc. is cutting back on its physical office space in several global markets, including San Francisco, New York and Sydney, as the company cuts costs and leans harder into remote work. “
It reminds me of Tesla some months ago. This seems to be a tactic now… Sad.
#twitter #futureofwork #remotework
Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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I’m surprised Mr. Musk didn’t lead with this, see what kind of attrition this move resulted in, and then conduct the layoffs among the remaining staff.
The extra time in between also would have made the layoffs better planned and executed.
I would imagine this move will result in less litigation than the chaotic layoffs, some of which have people crying foul. In one example, a woman was laid off who is (coincidentally) very pregnant, although she was outperforming peers who were retained. 🤔
#twitter #elonmusk #layoffs #returntooffice #rto #remotework #workfromhome #workfromanywhere #litigation
Musk’s First Email to Twitter Staff Ends Remote Work
bloomberg.com • 1 min read
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Chris Louie• 3rd+VP, People @ Thomson Reuters11h • Edited • 11 hours agoFollow
Metcalfe’s law says that the value of a network grows or shrinks exponentially relative to the number of users. What it misses is the quality of the users and usage, and the effect it has on that value.
What we’ve learned from the still-developing Twitter case study is:
– Trust and integrity are a major determinant of that quality.
– When you lack trust and integrity in the management of the platform, it will reflect in low trust and integrity in the platform, and corresponding low quality of experience and value for the users (people, companies/advertisers)
It does result in some HIGH lowbrow comedy though…
Mario flipped off Twitter for nearly two hours with the blessing of Musk’s “verification”
theverge.com • 1 min read
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