“Elon Musk poses as a superhero when in the end he’s just an arsonist”

“Houston we have a problem. » The phrase that astronaut Jack Swigert uttered to warn NASA’s control center in Houston (Texas) about the explosion that crippled Apollo-13 in 1970 is still one of the most famous euphemisms. Elon Musk could take it back today. The “problem” is not SpaceX, its company specializing in the conquest of space, which has done very well so far, but the acquisition in October of Twitter.

However, during a forum organized a few days ago on the social network, the famous entrepreneur did not give in to the euphemism, comparing the company’s situation with “a plane crashing at high speed with burning engines and the controls not responding.” And to add “That’s why the measurements I take can sometimes seem wrong. »

Elon Musk has always had a knack for storytelling to sell his successes. But when it comes to Twitter, the out-of-control boss is just rewriting history.

Also read: Article reserved for our subscribers Elon Musk could already leave his role as CEO of Twitter, amid management and financial chaos

Why agree to spend $44 billion (€41 billion) to buy back a cabin that is about to catch fire two months later? Elon Musk poses as a superhero, a last resort to avoid a disaster, when in the end he is just an arsonist who acquired his abilities out of ideology and arrogance.

Unbearable pressure

Admittedly, Twitter’s business model didn’t wait for Elon Musk to falter. When the social network was acquired, the company was already losing ground, but it had not yet taken off. This is now the case. Losses could approach $4 billion this year against $221 million in 2021, with revenue set to collapse 40%, according to the new owner’s forecasts.

The pressure was already strong before the takeover. She has become unbearable. To finance its operations, the company took on $12.5 billion in debt, which must now be repaid at the rate of $1.5 billion per year, all in the context of rapidly rising interest rates. It is the change of ownership that contributes to the sense of urgency the company experiences.

When he arrived, Elon Musk saw fit to administer an equine remedy without worrying about whether it would cure or end Twitter. The company’s workforce has been cut in half, leaving key positions vacant and disarming the social network for moderate content.

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