Elon Musk says owning Twitter ''painful'' but needed to be done

Vartha Bharati | 12-04-2023 | 19:05:00 IST

Billionaire Elon Musk | PC: PTI

United States, Apr 12: Billionaire Elon Musk has told the BBC that running Twitter has been “quite painful” but that the social media company is now roughly breaking even after he acquired it late last year.

In an interview also streamed live late Tuesday on Twitter Spaces, Musk discussed his ownership of the online platform, including layoffs, misinformation and his work style.

“It's not been boring. It's quite a rollercoaster,” he told the UK broadcaster at Twitter's San Francisco headquarters.

It was a rare chance for a mainstream news outlet to interview Musk, who also owns Tesla and SpaceX.

After buying Twitter for USD 44 billion last year, Musk's changes included eliminating the company's communications department.

Reporters who email the company to seek comment now receive an auto-reply with a poop emoji.

The interview was sometimes tense, with Musk challenging the reporter to back up assertions about rising levels of hate speech on the platform.

At other times, Musk laughed at his own jokes, mentioning more than once that he wasn't the CEO but his dog Floki was.

He also revealed that he sometimes sleeps on a couch at Twitter's San Francisco office.

Advertisers who had shunned the platform in the wake of Musk's tumultuous acquisition have mostly returned, the billionaire said, without providing details.

Musk predicted that Twitter could become “cash flow positive” in the current quarter “if current trends continue.” Because Twitter is a private company, information about its finances can't be verified.

After acquiring the platform, Musk carried out mass layoffs as part of cost-cutting efforts. He said Twitter's workforce has been slashed to about 1,500 employees from about 8,000 previously, describing it as something that had to be done.

“It's not fun at all,'' Musk said. “The company's going to go bankrupt if we don't cut costs immediately. This is not a caring-uncaring situation. It's like if the whole ship sinks, then nobody's got a job.” Asked if he regretted buying the company, he said it was something that “needed to be done.” “The pain level of Twitter has been extremely high. This hasn't been some sort of party,'' Musk said.

Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.

Comments

comments powered by Disqus.

Prez nod for FIR against AAP's Manish Sisodia, Satyendar Jain in Rs 2,000-cr classroom 'scam'

14-03-2025 ¦ 14-03-2025 IST

AAP leaders Manish Sisodia and Satyendar Jain | PC: PTI

New Delhi, Mar 13 (PTI): President Droupadi Murmu has given her approval for the registration of an FIR against AAP leaders Manish Sisodia and Satyendar Jain in an alleged scam of Rs 2,000 crore in the construction of classrooms in Delhi government schools, sources said.

In 2022, the Delhi government's vigilance directorate recommended a probe into the alleged scam and submitted a report to the chief secretary.

The President has given her approval for registering the FIR against Sisodia and Jain in connection with the alleged scam during their tenures as ministers in the Arvind Kejriwal-led Delhi government, the sources said.

The Central Vigilance Commission (CVC), in a report dated February 17, 2020, highlighted "glaring irregularities" in the construction of classrooms in Delhi government schools by the Public Works Department (PWD).

The President's approval came under Section 17A of the Prevention of Corruption Act that pertains to "enquiry or inquiry or investigation of offences relatable to recommendations made or decision taken by public servant in discharge of official functions or duties".

Reacting to the development, senior AAP leader Saurabh Bharadwaj accused the BJP of carrying out a witch-hunt against its political rivals.

The BJP has no interest or intention to fulfil the promises it made to the people of Delhi. Its only agenda is to carry out a witch-hunt against its political rivals to stifle the voice of people, the former minister said in a statement.

The BJP-led central government has already decided to prosecute every political adversary of the party and grant approvals to move the case forward but it should wait for the judicial process to begin, he said.

In July 2019, BJP leader Harish Khurana and then AAP rebel MLA Kapil Mishra, now a minister in the Delhi government, lodged a police complaint about the alleged scam.

According to a report prepared by the Anti-Corruption Bureau (ACB) of the Delhi government, the complainants alleged that there was a scam worth over Rs 2,000 crore in the construction of classrooms and school buildings in Delhi. The work was done at a highly inflated cost by the Delhi government.

The alleged scam involves the construction of around 12,748 classrooms.

The ACB report said the total expenditure incurred for constructing the classrooms and school buildings was around Rs 2,892.65 crore. They were allegedly constructed at the rate of Rs 8,800 per square feet, whereas it was common knowledge that the average construction cost (even for a builder of flats) was around Rs 1,500 per square feet.

The total cost for constructing a classroom and school building, according to the tender awarded, was allegedly around Rs 24.86 lakh per room, whereas such rooms are easily constructed in Delhi at around Rs 5 lakh per room, it said.

The prices were increased almost five times to defraud the taxpayer by siphoning off money from the public exchequer in the garb of construction cost, the report said.

Even for a 5-star hotel, top ultra-luxury quality construction is around Rs 5,000 to Rs 5,500 per square feet, it said.

The complainants submitted a copy of documents in which information received under the RTI Act in respect of the construction of 18 classrooms in the Govt Girls Senior Secondary School, Nathupura, Burari (school ID:-1207111) revealed that they were constructed at a cost of Rs 12 crore, the ACB report said.