All I see is the Worlds Richest Man buying a sociall media platform, using it, shaking it up and seeing what sticks. People got fired, which is what happens in business all the time, right? Were they so great at their jobs? Has he better people in mind? Who knows! Noone does. Even on this page, three marketing people apparently got canned and ‘its the end of advertising as we know it, Jim’ Yeah ofcourse theres not 150 million other marketers on the planet could do the job.
There was an important qualifier in that post “ad supported platform in the near term”.
Can Elon bring in other marketing people, sure and in the long term they may be as good/better than those they replace. But in the short term the impact is likely to be quite significant on twitter advertising revenue as several advertisers are already pausing due to uncertainty.
Twitter has some size-able short term bills to pay even above its $1 billion in annual interest payments for the acquisition - severance for those fired employees and also vesting of the stock options. Such large changes to your existing revenue stream seem an unusual choice to make at such a time.
Since Elon Musk's acquisition of Twitter closed last week, employees have been concerned that they wouldn't be paid for their vested stock.
www.cnbc.com
According to employees at the company and internal communications viewed by CNBC, newly vesting shares are expected to be paid in the first half of November, starting as early as Nov. 4. Employees said they were reassured by managers that the company’s payroll department was working on processing their vested stock.
Tech companies are known for paying a high percentage of their compensation through stock awards, and Twitter has been notably reliant on equity payouts. In the first six months of 2022, Twitter recorded a stock-based compensation expense of $459.5 million, up from $289.1 million during the same period a year earlier. That’s close to 20% of Twitter’s revenue for the quarter.
blog.hootsuite.com
www.ofcom.org.uk
