This is intended to be part of a series of markets evaluating how Twitter is doing a bit over a year after ownership by Elon Musk.
At the end of 2023 if Twitter is profitable this market resolves YES.
https://www.statista.com/statistics/299119/twitter-net-income-quarterly/
Post of related markets:
https://manifold.markets/post/evaluating-twitter-after-a-year-of
1,000
3.00While Yaccarino said the company could be profitable next year, X is also facing a number of lawsuits that allege it has failed to pay rent on its offices and millions of dollars in severance to thousands of employees who were laid off
This quote implies that they’re unprofitable in 2023.
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'Musk discussed the financial toll advertising boycotts have had on his business, saying it’s been a “huge struggle for Twitter to break even.”
“We’re hoping to break even, but we’re not there yet,” he said.'
https://edition.cnn.com/2023/06/05/tech/linda-yaccarino-twitter-ceo-elon-musk/index.html
@Blomfilter They were cash flow positive before Elon took over so this is hardly an accomplishment, and it is still a long ways from being profitable, if it ever is again. Almost all of that cash accumulating is going to the first interest payments on the debt later this year.
A senior Twitter manager told employees that the company’s daily revenue on Tuesday was 40% lower than the same day a year ago, ... more than 500 of Twitter’s top advertisers have paused spending on Twitter since Elon Musk took over in October.
They've cut some costs (employees, office rent), but they've also added some huge costs (interest on loans) and lost a lot of revenue, and I don't see a way that they could really bring that revenue back in the next year. Twitter Blue definitely isn't going to do it.
@Gabrielle Plus, add on the inevitable costs from the lawsuits they’re facing over not paying stuff (e.g. their rent,) and I do not see how Twitter will be profitable.
@nottelling2ccc I owe you an apology.
https://www.businessinsider.com/elon-musk-twitter-lawsuit-he-never-planned-to-pay-rent-2023-5
@Shai Actually, I think your comment might be correct in spirit. Though several lawsuits have been filed against Twitter, lawsuits tend to move very slowly and take a few years to resolve on average (I'm no lawyer, but some basic research seems to point to that being the case.) Although these suits will cause trouble in the long term, it seems like these suits may not affect their 2023 profitability much (Though I still think the lost revenue and loans could prevent Twitter from making a profit this year.)