[Updated] Is Twitter dying or going to shut down as bankruptcy lurks around the corner?

New updates are being added at the bottom of this story…….

Original story (published on November 11, 2022) follows:

The aftermath of Elon Musk’s acquisition of Twitter has turned out to be quite tumultuous.

With a considerable number of people quitting the platform for good, Twitter is now looking at a looming bankruptcy.

This could be a disaster for Elon Musk as the stakes are soaring high. For those unaware, Twitter is no longer a publicly traded company and isn’t listed on stock exchanges such as the NYSE or the likes of Robinhood.

The fear comes after a series of reckless decisions like an aggressive advertisement policy, the unavailability of Twitter Blue even in supported regions, and more.

A combination of all these factors points to what could be harder times ahead for Twitter in terms of income generation. But could this result in insolvency?

Is Twitter dying?

With that said, a number of top-level members of the company have already resigned, therefore crumbling people’s trust.

Likewise, many users (1,2,3,4,5,6) have started bidding farewell to the microblogging platform as they feel it’s dying.

a few months ago i was thinking about making a new tumblr and was uncertain but now with twitter dying it feels like i have to
Source

Twitter is dying, but the heroes paying $8 to get verified as a fake company/brand are gonna make it go with a bang.
Source

It’s worth noting that the company is even winding up offices and stopping almost all of its operations in India. Considering that Indian audiences make up a significant portion of Twitter’s daily active users, this is a little concerning.

Making matters even worse, a leaked email from Elon Musk claims that Twitter needs to generate at least 50% of revenue from the Blue subscription to be able to survive.

Despite all this negativity and controversies, Twitter still managed to hit its all-time high active number of users.

There is a chance that all of this was meticulously planned by Elon Musk, and everything is going exactly as he intended.

After all, he is a great businessman and the world’s richest man. I believe that it’s too early to reach any conclusions and we need to have some trust in the leadership.

Do let us know what you think about the whole situation of Twitter dying in the comments section below. We’ll keep an eye on this matter and update this story to reflect noteworthy information.

05:51 pm (IST): After confirming that Twitter is witnessing a higher number of active users, Elon Musk recently apologized for the microblogging site being “super slow” in several countries.

He also stated that the reason behind the suspension of its $8 Twitter Blue program is the mushrooming of the fake accounts with blue verification badges.

Some even feel that the microblogging site has never been better plus all the negative feedback and cursing are further helping Twitter with increased advertising revenues.

I hope they keep cursing me on Twitter, as it increases advertising revenue!
Source

04:09 pm (IST): Elon Musk hinted by responding to a Tweet that he is aiming at a bright future for Twitter.

Moreover, he also confirmed that he will continue to run the platform until it is in a strong place.

Correct. I will continue to run Twitter until it is in a strong place, which will take some time. (Source)

09:00 am (IST): Twitter has allegedly alerted employees about the temporary closing down of all their office buildings and has suspended their badge access.

It appears that this step was taken as a precautionary measure to prevent rogue employees from sabotaging the company and the platform. However, Elon Musk and his team are yet to pinpoint those employees.

The offices are expected to reopen on November 21, 2022. Twitter has also asked its employees to comply with company policies by maintaining confidentiality. Check out this thread for more information.

12:05 pm (IST): Hashtags like ‘#RIPTwitter’ are currently trending in various parts of the world due to the recent server outage and developments.

But despite all these issues, Elon Musk confirmed that Twitter has yet again hit an all-time high usage record.

Twitter is also experiencing mass resignation from employees after Musk shared his ‘extremely hardcore’ plans for Twitter 2.0. Experts have also predicted that the platform may soon experience a major outage.

Twitter could break as soon as tonight. According to an inside source, the internal version of the Twitter app used by employees is already slowing down.
Source

12:54 pm (IST): Elon Musk’s recent tweet suggests that the barrage of things being written about Twitter is ultimately paving the way for high usage of the platform.

They just can’t stop writing about Twitter, which is driving usage through roof lmao
Source

It comes after Musk’s comment on the issue of child sexual exploitation content on Twitter. This has led to the most popular hashtag used to sell child sexual abuse material on the platform being completely wiped out.

07:14 pm (IST): According to Tech Crunch, the German government is asking Twitter to respond to reports of hate speech and even remove illegal speech from the platform. More on that here.

Also, Elon Musk has revealed in a tweet that they have improved the speed of Twitter outside of North America, Western Europe and Japan. Furthermore, he also hinted that creators can monetize written content.

12:29 pm (IST): In the wake of Twitter’s booming usage, Elon Musk is now making fun of the rumors that suggested Twitter was soon going to die.

04:52 pm (IST): An alleged former Twitter SRE (Site Reliability Engineer) has explained why Twitter didn’t go down despite loosing most of its workforce. You can check it out here.

06:06 pm (IST): Elon Musk has announced that the hate speech impressions are down by 1/3 from pre-spike levels. This was achieved by reducing the max allowed tweets per day.

Another major part of the update was his claim that users outside of the United States will see an improvement in Twitter speed.

01:31 pm (IST): According to a report, Twitter sign ups and daily active minutes have reached all-time high in the history of the platform, while the amount of hate speech has decreased.

Also, Elon Musk has confirmed that they might showcase Twitter uptime dashboard publicly. Furthermore, he has predicted that the monthly active users on Twitter may exceed a billion mark in next 12 to 18 months.

09:36 am (IST): According to a tweet from Elon Musk, Apple has threatened to withhold Twitter from the App Store. However, they didn’t share any reason.

02:31 pm (IST): Elon Musk has posted a poll asking Apple to publish all censorship actions it has taken that affect its customers.

Also, Apple has stopped advertising on Twitter and Elon Musk has asked Tim Cook for a reason behind this. It has come to notice that Apple has also secretly suppressed free speech in the past on other applications.

Furthermore, Elon Musk has confirmed that Twitter Files on free speech suppression will soon be published on Twitter.

04:58 pm (IST): According to a report, there has been a massive data breach at Twitter.

Private data of millions of Twitter users has been leaked which include phone numbers, verified status, account names, Twitter IDs, biographies, and even their screen names.

10:34 am (IST): Elon Musk recently visited Tim Cook at Apple’s HQ to resolve the misunderstanding about Twitter being removed from the App Store. He went ahead sharing that Apple never considered removing Twitter.

Good conversation. Among other things, we resolved the misunderstanding about Twitter potentially being removed from the App Store. Tim was clear that Apple never considered doing so. (Source)

10:53 am (IST): A recent tweet from Elon Musk suggests that the advertisers are now returning back to Twitter.

06:33 pm (IST): Twitter is shutting down its newsletter platform called Revue. The announcement was made yesterday where they said that from January 18, 2023, onwards users will no longer be able to access their accounts.

01:19 pm (IST): Elon Musk has posted a poll asking users if he should step down as a head of Twitter. You can check it out here.

12:05 pm (IST): It seems that Elon Musk is all set to resign as CEO of Twitter after 57.5% of those polled voted in favor of him stepping down as the owner of the platform.

I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.
Source

11:54 am (IST): In a podcast show, Elon Musk reportedly said that they’ve got their expenses under control.

However, responding to a tweet on the same, he said that Twitter is still not fully secure and its “just not in the fast lane to bankruptcy”.

15:11 pm (IST): According to a report, Elon Musk is thinking about selling usernames through online auctions. This is being done with the goal of increasing the company’s revenue.

1:24 pm (IST): Revue, the Twitter newsletter service, was ‘doomed to die’ this month (check Update 13). However, now Elon Musk opens the door to a possible change in decision.

17:15 pm (IST): A recent report reveals that Twitter owes an outstanding bill of $1.9 million dollars to Innisfree M&A Incorporated. The firm has sued Twitter for unpaid bills after it advised them.

Ahead of the public’s reactions on Twitter to Revue’s closure, Elon Musk is asking if the service should remain active. The responses Musk receives to that tweet could determine Revue’s ultimate fate.

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