Musk says Twitter lost 50% of advertising revenue and remains negative cash

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Billionaire contradicts himself after saying, three months ago, that “almost all advertisers have returned or said they will return”. US businessman Elon Musk said he would launch Truth GPT to compete with Chat GPT offered by startup OpenAI Hannibal Hanschke/ Reuters Former CEO of Twitter, businessman Elon Musk said this Saturday (15) that due to the 50% drop of advertising revenue, the platform remains negative. He did not detail the period in which the drop in revenue was recorded. “We are still cash-flow negative, due to the approximately 50% drop in advertising revenue, in addition to the heavy debt load,” wrote the entrepreneur on his personal Twitter account, in response to a user. “We need to achieve positive cash flow before we can afford anything else,” he added. Elon Musk admits that Twitter had a drop in ads in his management The statement admitting the bad result contradicts an interview made in April of this year, when the billionaire stated that “almost all advertisers have returned or said they will return”. A month after the interview, Musk fulfilled what he had promised and left the executive presidency of the social network. Linda Yaccarino is currently in charge. READ ALSO: Zuckerberg or Musk: who would win the ‘fight’ of billionaires? Suspended on Twitter, young man migrates to Threads to track Elon Musk’s jet

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