Lately he’s been in a permanent crisis Twitter since it came under the control of a billionaire Elon Musk. Mass layoffs, exodus of advertising clients, and disputes with the media show that Musk’s $44 billion purchase of Twitter was not a very good investment. In an email he sent to employees announcing their new stock reward program, Elon Musk admitted that the famous platform is worth $20 billion. Now its value has dropped significantly from the $44 billion he paid for it to acquire it last October. . In the same letter, according to the New York Times, he talks about the sweeping changes, such as spending cuts and mass layoffs, that he sees as necessary to avoid the popular platform’s bankruptcy.

In fact, despite its decline in value, in this particular email to employees, he claimed that Twitter could one day reach a value of $250 billion. However, as he comments on a report published by Deutsche Welle, while the intention to turn the service into a super application like Chinese WeChat, on maps. Meanwhile, once Twitter has gone public, it’s no longer required to release your financial data.

Elon Musk initially stated that advertising revenue was sometimes halved. However, in the end, he said that the losses were small, betting on an increase in revenue from the introduction of a subscription. On Friday, according to media reports, Twitter told advertisers via email that they would have to pay for a subscription to display the familiar checkmark icon in order to continue running ads.

In an email to employees, Elon Musk warns of more layoffs.

However, the removal of the blue badges that once authenticated an account is a major reversal, with implications for platform trust still unclear. New similar icons appear in the profiles of users who pay a subscription for 9.52 euros, while the verification is no longer real, the only condition is to verify the phone number.

Many celebrities refuse to pay for such a thing and therefore remove their badges. However, this can confuse users and open the way for creating fake accounts. In fact, the new owner of Twitter, according to a report published by DW, for unknown reasons, paid out of his own pocket for the subscription of famous basketball player LeBron James, writer Stephen King and actor William Shatner.

At the same time, according to the report, Twitter must comply with the legal framework, but the company has already come under the sight of regulatory authorities. In the US, for example, the service is being held accountable by the consumer protection watchdog FTC after a series of violations.