Billionaire Elon Musk announced that the network "Twitter", which he bought for 44 billion dollars in October 2022 lost almost half of its advertising revenue

EDITED BY| HUXIANA

Economic  section -  CJ journalist

World – July,16,2023

Musk responded via Twitter to a user who made strategic suggestions regarding the future of the network, saying, "We are still in a state of flux

Negative cash, due to a decrease of almost 50 percent in advertising revenues, and heavy burdens associated with indebtedness,"he said.

"We have to reach a positive cash flow before we have the luxury of doing anything else," he added, without providing details

Additional.

The steps taken by Elon Musk since his acquisition of "Twitter" have caused alarm among network users and advertisers.

In May, the company "insider intelligence" pointed out that "Twitter" is on its way to achieve profits below three billion dollars in

In 2023, almost a third less than in 2022.

Since then, the billionaire has announced additional steps that have increased dissatisfaction among users, including his announcement in early July

The number of tweets allowed to be read is currently limited to 10 thousand per day for verified accounts, and 1000 per day for non-verified accounts

Documented, up to 500 tweets per day only for new accounts.

A few days later, "Twitter" announced that the TweetDeck service (TweetDeck) widely used by specialists in

Starting next month, the information field will be limited to verified account holders, i.e. subscribers to the services

"Twitter" is paid.