Elon Musk Says Twitter Is "Not On The Fast Lane To Bankruptcy Anymore"

Elon Musk recently spoke about Twitter's financial situation and said that the company is "not on the fast lane to bankruptcy anymore". 

The tech billionaire took over the social media networking platform in October after purchasing it for $44 billion and since then he has not had an easy ride. According to Sky News, Mr Musk made a number of policy decisions and lost many major advertisers. He previously also warned Twitter employees that the firm may not "survive the upcoming economic downturn". 

However, now in a recent interview, Mr Musk was more optimistic about the future of Twitter. 

.@elonmusk on @theallinpod $TWTR

The company is no longer in the fast lane to bankruptcy.

At the same time releasing more features then ever before, while improving cost structure by a factor of 3 or 4.

MSM would hype up any other public CEO if they did this in six weeks. pic.twitter.com/3I90Rqh57g

— Rahul (@rhemrajani9) December 24, 2022

Speaking on the All-in podcast, he said, "It has been quite a rollercoaster...It has its highs and lows, to say the least, but overall it seems to be going in a good direction." He further added, "We've got the expenses reasonably under control, so the company's not on the fast lane to bankruptcy anymore."

Also Read | Visitors Who Went To Meet Elon Musk Made To Wait For More Than An Hour At Twitter Headquarters: Report

Separately, Mr Musk also tweeted, "Twitter isn't secure yet, just not in the fast lane to bankruptcy. Still much work to do." 

Twitter isn't secure yet, just not in the fast lane to bankruptcy. Still much work to do.

— Elon Musk (@elonmusk) December 25, 2022

Meanwhile, according to Indy100, during the podcast, the new Twitter boss also promised that there would be "fewer gaffes in future". 

"If you're going to swing for the fences, you're going to strike out a bit more. But we're going to swing for the fences here at Twitter, and we're going to do it quickly," he said, adding, "My error rate and sort of being the chief twit will be less over time but, in the beginning, we'll make a lot more mistakes because I'm new. Hey, I just got here, man." 

"If you look at the actual amount of improvement that has happened at Twitter in terms of having costs that aren't insane and shipping product that, on balance, is good, I think that's great - we're executing well and getting things done," Mr Musk stated.