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Last hour, Twitter is in chaos: billions of dollars in losses



So far, Twitter has seemed pristine, untouchable, but things seem to be flowing: It’s happening right now

Elon Musk became the owner of the blue bird social network, what happened after his maneuver? What one of the most pristine platforms is going through is amazing and healing the losses is really complicated.

Twitter 15112022

Recently, from a corporate perspective, Twitter has been on the lips of many. After taking over the company, Elon Musk sent an email to all employees ending smartworking and announcing difficult times for the social network. Now we’re back to talking about the chirping bluebird, but for different reasons.

Elon Musk’s attorney breaks news of a loss and reports that his client could face billions of dollars in fines precisely because of the new acquisition. According to what The Verge and SlashGear report, the penalties appear to stem from issues of breaching the privacy and security of the platform, with terms plummeting further after Tesla’s CEO changes.

Twitter, thunderclap: three corporate giants resign

Billionaire Elon Musk made his first takeover bid for Twitter in April 2022 (ANSA photo).Billionaire Elon Musk (photo ANSA).

Following these vicissitudes which affected Twitter, Damien Kieran (chief privacy officer), Lea Kissner (chief information security officer) and Marianne Fogarty (chief compliance officer) officially resigned. As if that weren’t enough, Twitter’s privacy team released a note posted on Slack and later by The Verge in which they only added fuel to the fire: “Elon has shown that his only priority vis-à-vis Twitter users is to figure out how to monetize them. I don’t think he cares about human rights activists”. In the same memo, there is also a clarification of alleged statements by Musk’s lawyer who allegedly admitted that the contractor is not afraid, but takes responsibility for facing the FTC.

According to the lawyer, the multi-billion dollar fines could come in the event of inconsistencies that seem to be circulating: there are increasingly insistent rumors about the review from the company’s privacy point of view. Meanwhile, the new Twitter buyer says, “Without significant subscription revenue, there’s a good chance Twitter won’t survive the impending economic downturn.”

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