this post was submitted on 25 Nov 2023
387 points (95.7% liked)
Technology
58303 readers
7 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They have a billion of loan payments due each year. In order to pay that, someone has to come up with cash. Having a business that actually generates a profit would be the ideal way to do that.
My point is that $75 million isn't a significant amount either way at the scale that X is operating on.
Their ad revenue had already been rapidly shrinking. They brought in about 1.5 billion from advertising in 2021. After Musk gutted the company, while I'm sure expenses are lower, advertising revenue has already dropped by 70-55% depending on which source you go by. So, a generous guess is $750 million now, which would make $75 million 10%, and that is a significant drop.