Elon Musk said that the majority of the advertisers that stopped using Twitter after his $44 billion purchase have started using it again, indicating that the floundering social media site is finding its footing.
Musk reiterated during a rare Twitter Spaces interview with the BBC that Twitter was now breaking even and might start turning a profit as early as this quarter.
"I think that money mistakes made a long way back, of course, you know, But, you know, we are also doing well. And so, I feel like we’re headed to a place where we roughly break even. Even I think we’re trying to towards being half-low positive. Very certainly, in a couple of months. The advertisers are returning," he said.
When the billionaire turned the tables on his interviewer and questioned the BBC's record on everything from Covid disinformation to hate speech, more than three million users tuned into the online dialogue, which occasionally grew hostile.
After a contentious battle with Twitter's management and board, which included a moment where they sued the entrepreneur to pressure him into a deal, Musk acquired the firm last year. Musk claimed that he ultimately completed the transaction because he was required to by law, but he later stated that he now likely wouldn't sell Twitter even if the asking price was the same.
According to Musk, the majority of advertisers have returned to Twitter after leaving in the wake of widespread layoffs and technical issues that raised worries about the spread of hate speech, fake news, and other undesirable content.
“Almost all of them have either come back or said they’re coming back,” Musk said.
With respect to Twitter’s future, Musk said he doesn’t see any social network without paid verification surviving. He was addressing criticism about Twitter charging $8 for the blue checkmarks that once conferred legitimacy on everything from media organizations to public figures. On Tuesday, he reiterated his position that the payment barrier was the only workable way to avert misinformation bots swamping an online platform.
The convoluted conversation ranged from the ridiculous, with the millionaire constantly asserting his dog is now Twitter's CEO, to serious subjects like how to handle sexism.
“I am not the CEO of Twitter. My dog is the CEO of Twitter,” Musk laughed as he said. “He’s got a black turtleneck, what more do you need?”
(With Bloomberg Inputs)
First Published: Apr 12, 2023 11:22 AM IST
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