"Elon Musk's first email to Twitter staff warns the social media may not survive
Elon Musk has sent out his very first company-wide email to Twitter staff, where he warned that the social media platform might not survive.
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SpaceX and Tesla CEO Elon Musk has sent out his first company-wide email where he outlined the current state of Twitter and what the company has ahead of it.
The email was picked up by several publications, and according to reports, it was sent out to Twitter employees at 2:39 am ET on Wednesday. The billionaire first apologized for this email being the first one he's sent out since he acquired the company on October 27, but then went on to explain the overall situation at Twitter is dire. Musk explained that the ""economic picture ahead is dire"" and that Twitter is overly dependent on advertising, with 70% of its advertising being ""brand rather than performance"".
Popular Now: Cameras attached to sharks discover unexplored underwater forest Musk explains that since Twitter is so advertiser reliant, he has been directing his attention toward the launch of Twitter Blue Verified Subscriptions as he believes the company needs a consistent revenue stream. Musk writes that without significant subscription revenue, there is a good chance that Twitter ""will not survive the upcoming economic downturn"". Musk added that Twitter needs approximately half of its total revenue to be from Twitter Blue subscriptions.
Read more: Elon Musk posts a shirt poking fun at people upset with Twitter Blue's $8 price Additionally, Musk explained that the company won't be throwing advertising away completely and that it will still be significantly reliant on that revenue, which is why he is working closely with Twitter's sales and partnership teams to ""ensure that Twitter continues to be appealing to advertisers"".
Musk didn't sugarcoat the road that Twitter has ahead of it as the Tesla CEO said that there are many challenges ahead for the company that will require ""intense work to succeed"". Musk's email also announced that remote work is no longer allowed at Twitter, and starting on Thursday, all Twitter employees are required to be in the Twitter office for a minimum of 40 hours per week. Musk added that there are exceptions to this new rule, and he will personally be reviewing those exception requests for approval.
Sorry that this is my first email to the whole company, but there is no way to sugarcoat the message.
Frankly, the economic picture ahead is dire, especially for a company like ours that is so dependent on advertising in a challenging economic climate. Moreover, 70% of our advertising is brand, rather than specific performance, which makes us doubly vulnerable!
That is why the priority over the past ten days has been to develop and launch Twitter Blue Verified subscriptions (huge props to the team!). Without significant subscription revenue,