Elon Musk Denies Reported Email Claiming X is "Barely Breaking Even"
Elon Musk has denied sending an email to X (formerly Twitter) employees claiming that the platform is "barely breaking even." According to a report from the Wall Street Journal, Musk reportedly expressed concerns about X’s financial challenges, such as stagnant user growth and unimpressive revenue, and that the company was struggling to achieve profitability. This came amidst news that banks were preparing to sell billions of dollars in debt borrowed by X to complete Musk’s acquisition in 2022.
In the email, Musk was reportedly quoted saying, "Our user growth is stagnant, revenue is unimpressive, and we're barely breaking even." The email also highlighted how the platform had influenced national conversations and outcomes, and noted that other platforms were beginning to adopt X’s commitment to free speech and unbiased truth.
However, Musk swiftly denied these claims, taking to X to publicly refute the report. "This report is false. I sent no such email. WSJ is lying," Musk wrote.
The Wall Street Journal also reported that bankers from Morgan Stanley reached out to investors in preparation for the sale of $3 billion in debt that X owes to various banks for the buyout. According to the report, some investors expressed interest in purchasing the debt, viewing X's financial position as improving, potentially due to Musk’s alliance with President Trump.
Despite Musk’s denial, concerns about X’s financial health remain prevalent. Since Musk’s takeover of Twitter, reports have shown a decline in the platform’s user base, with many users leaving for alternatives like Bluesky, particularly after the 2024 U.S. presidential election. Advertisers have also pulled back from X, with this trend expected to continue into the coming year.
Musk has been in the news for other reasons recently as well, including attending Trump’s inauguration on Monday and giving a controversial "Roman salute" during a speech, which only fueled further public scrutiny of his actions and alliances.
With financial struggles continuing and the company’s future uncertain, Musk’s vision for transforming X remains under close watch. While he remains determined to lead the platform forward, X’s path to profitability and growth will face increasing challenges as it navigates its ongoing struggles.
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Facebook and Twitter are both taking action after a video shared by President Trump they say contains misinformation about the coronavirus
The social media giant removed a video from Donald Trump's official Facebook page on Wednesday. The stated reason, according to a company spokesperson, was that the post spread misinformation about the coronavirus.
"This video includes false claims that a group of people is immune from COVID-19 which is a violation of our policies around harmful COVID misinformation," confirmed the spokesperson over email.
A visit to Trump's Facebook page shows no trace of the post. When asked if Facebook would put some sort of notice in place of the now-removed video — perhaps explaining why it was removed — the spokesperson replied that's not Facebook's policy.
"Don’t think we would put notice on content we remove, so in this case the post just comes down," they clarified.
In the removed video, the president told Fox & Friends that schools should remain open.
"My view is that schools should be open," Trump said. “If you look at children, children are almost — and I would almost say definitely — but almost immune from this disease.”
He added that children have "much stronger immune systems" and "just don't have a problem."
According to Facebook, this is the first time the social media platform has taken down a post from the president regarding misinformation about the coronavirus pandemic.
It was not immediately clear if all posts containing the video have been removed.
The move comes as Facebook CEO Mark Zuckerberg has faced increased scrutiny to crack down on misinformation since the 2016 election, with a long list of companies that have threatened to pull advertising on the platform.
The same clip was also shared by the Trump campaign's Twitter account - @teamtrump - and retweeted by the president himself.
A Twitter spokesperson told Fox News the tweet is "in violation of the Twitter rules on COVID-19 misinformation" and that the Trump campaign will "be required to remove the Tweet before they can Tweet again."
Trump campaign spokesperson Courtney Parella told Fox News that President Trump was "stating a fact that children are less susceptible to the coronavirus."
"Another day, another display of Silicon Valley’s flagrant bias against this President, where the rules are only enforced in one direction," she added. "Social media companies are not the arbiters of truth.”
Parella also claimed that the Twitter spokesperson who flagged campaign's suspended account was Kamala Harris' former press secretary.
A review of the latest available data by the Kasier Family Foundation found while there is already widespread community transmission in areas of the United States, there is "clearly a risk of further spread associated with reopening schools."
"The risks of reopening need to be considered carefully in light of the recognized benefits of in-person education," the foundation added.
The foundation noted there is "some evidence for an age gradient in infectiousness, with younger children less likely and older children more likely to transmit at levels similar to adults."
The National Academies of Medicine reported that “compared with adults, children who contract COVID-19 are more likely to experience asymptomatic infection or mild upper respiratory symptoms”, and that over 90 percent of children testing positive will have no or mild symptoms.
Children under the age of 18 account for 7%, or more than 200,000, of reported COVID-19 cases, according to the U.S. Centers for Disease Control and Prevention. They also account for 1% of coronavirus-related hospitalizations and less than 1% of coronavirus-related deaths.
According to Johns Hopkins University, there are more than 4.8 million coronavirus cases in the United States. More than 1.5 million Americans have recovered, while more than 157,000 Americans have died.
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Twitter has temporarily halted President Donald Trump’s son from tweeting on its site after he shared a video riddled with unsupported claims about the coronavirus
Study finds hydroxychloroquine helped coronavirus patients survive better - CNN https://t.co/QQsBcw1VJ6— Jake Tapper (@jaketapper) July 3, 2020
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