The platform has been achieving annual losses since 2011 and has only achieved revenues for two consecutive years during the Corona period (quarantine), then its revenues declined further during the first half of the current year 2023 by 50 percent, despite the fact that Elon Musk’s decisions were to lay off half of the employees and impose fees on Authentication marks.
I don't know did Musk read those financial reports before he tweeted that he will buy Twitter and stucked with that deal?
If Elon actually read such reports but still wanted to acquire Twitter, he did it for his vision to build his super application X. Buying Twitter is his first step to build up X ecosystem, all in one like he tweeted.
These measures led to the opposite results than what was expected, and the most important thing that happened was the decline in the number of users of the platform, including well-known companies. What can be expected from a platform that loses and still needs financial support?
I think the decision of Elon Musk to lay off half of Twitter staffs months ago as well as tried to sell some assets of Twitter are good decisions.
However it has side effects that serious decisions which were made abruptly by Elon Musk caused a lot of fear in Twitter investors as well as companies, corporations that want to advertise on Twitter. Twitter lost a lot of advertisement deals after latest strategic changes from Elon Musk.
I do not think that Elon Musk has ignored all these reports about the financial situation of the Twitter platform, and perhaps on the basis of that he thought of buying it. The problem is not in buying the platform, because there are certainly ways to address its situation and work to fix it, but this is not supposed to include proposing an imaginary price for the deal that the first owners of the platform did not dream of. Also, the first decisions that were taken did not lead to satisfactory results, on the contrary, the platform crisis increased.
Whatever Elon Musk's dreams and their ability to be realized, I am still convinced that his entry into the social media market was not his wisest decision, and that the repercussions of that began to appear early.