Twitter's CEO, Elon Musk, cautioned staff members during a conference call that the social network would not "survive the upcoming economic downturn." The company's bankruptcy should not be considered out, according to Twitter's new owner, if subscription revenue cannot be increased to offset the decline in ad revenue.
According to a Reuters article, Twitter is in turmoil as a result of numerous senior officials leaving the firm, including the Chief Information Security Officer and Yoel Roth, Head of Trust & Safety.
In his account bio, Roth now describes himself as a "Former Head" at the organization. Roth was in charge of handling hate speech, false information, and spam on Twitter. The company's chief privacy officer and chief compliance officer have also left, according to an internal Slack message. A person familiar with the matter has said that Robin Wheeler is now the top ad executive, at least for now.
The US Federal Trade Commission (FTC) is now monitoring Twitter with "deep concern" following all these significant company changes, especially in light of the departure of the top executives. These issues put Twitter at risk of a number of regulatory fines, but according to Alex Spiro, an attorney for Musk, the current Twitter team is engaged in "an ongoing constructive dialogue" about them.
The main reason the FTC is eyeing Twitter is that the social media giant has already misused personal information in the past, such as giving phone numbers to advertisers on the platform. Spiro's effort to resolve the issue has been inadequate. He said that “Elon puts rockets into space, and he’s not afraid of the FTC” without clarifying the connection between the two.
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