Elon Musk said Twitter was “no longer on the fast track to bankruptcy,” but acknowledged that “there’s still a lot of work to do.”
Since he took over the social networking platform in October, $44bn (£38bn) was paid for itMusk has not been easy along the way.
He has made some controversial policy decisions and lost many major advertisers amid growing concerns about the direction of the platform – and its ability to finance the $13bn (£10.8bn) he paid to buy it. ) debt to pay interest.
Last month, within two weeks of acquiring the company, He warned Twitter employees that the company might not “survive the coming recession”.
In a podcast released over the weekend, he told All-In: “It’s been a rollercoaster ride…it’s had highs and lows, to say the least, but overall it seems to be going in a good direction.
“Our expenses have been brought under reasonable control, so the company is no longer on the fast track to bankruptcy.”
Later in a tweet, he added: “Twitter isn’t safe yet, just not on the fast track to bankruptcy. Lots of work to do.”
“My error rate will decrease over time”
He also promised the podcast that “there will be fewer gaffes in the future.”
“If you’re going to hit the fence, you’re going to hit the ball a little bit more,” he said.
“But we’re going to be rocking Twitter, and we’re going to do it as fast as we can.
“Over time, my error rate and sort of chief tact will decrease, but at first, we’ll make more mistakes because I’m new… Hey, I just got here, man.
“If you look at the actual improvement that Twitter has seen in terms of not costing a lot and shipping product, in general, it’s good, I think it’s good — we’re executing well and getting things done”
There’s no point in trying to formulate Musk’s grand Twitter strategy — he doesn’t
Profile of Elon Musk: “The poster child for disruption”
Musk is one of the richest men in the world and also owns SpaceX and Tesla.
Tesla investors recently expressed concern that his loyalty to the electric carmaker could be compromised by the amount of time he spends on Twitter.
Tesla stock has fallen about 70 percent this year, and Musk has sold his multibillion-dollar stake in the company.
A few days ago ha said he fears a severe recession next year And sell shares to “ensure, say, that there is dry powder … for worst-case scenarios.”