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Elon Musk reports being stressed, overworked in pursuit to bring Twitter to profitability

164
Yahoo Finance Video

Yahoo Finance Live's Dave Briggs kicks off a discussion on Elon Musk's accounts of overworking himself while trying to have Twitter break even, acquiring Super Bowl ad partnerships, and driving revenue while managing other companies.

Video Transcript

DAVE BRIGGS: The pressure may finally be getting to Elon Musk. The "Wall Street Journal" reporting Musk has trouble sleeping at night and has severe back pain. These troubles have plagued the Tesla founder for years, but it's reportedly worse now. Musk says his workload has grown since taking over Twitter. He's gone from working as much as 80 hours a week to more than 120, according to the "Journal."

Musk responding on Twitter to the "Journal," admitting he's had a tough time. Writing, "Last 3 months we're extremely tough as I had to save Twitter from bankruptcy while fulfilling essential [? Tesla/SpaceX ?] duties. Wouldn't wish that pain on anyone. Twitter still has challenges but is still trending to break even if we keep at it. Public support much appreciated." Elon even adding, "Twitter is definitely not financially healthy but is trending to be so."

The information reported recently that Twitter's ad revenue was down 35% in the fourth quarter. To counter that, the company will reportedly charge companies $1,000 a month for brand verifications. Will you pay? Love to hear that. And they've also offered $250 grand in free advertising around the Super Bowl, which appears to have some early returns. The information also reporting AB InBev and PepsiCo have committed around $3 million in Super Bowl Twitter takeover ads.

That gets us to this question. The question, do you think Elon will make Twitter profitable? We put that out on a Twitter poll, and overwhelmingly you say yes. 56% of you say Elon will indeed make Twitter profitable.

Jared, I say no. I am in the no camp. He has gutted that place of employees, first off. He has allowed the ugly voices on Twitter to get louder and to get worse. In no quantifiable way has he improved the Twitter experience. I mentioned ad revenue plummeting. I don't see a path to profitability. If they don't make it big on Super Bowl weekend, they're cooked.

JARED BLIKRE: He has slashed costs, and one qualifying question I would ask about that. Is he going to make Twitter profitable before or after bankruptcy? In other words, can it be done period?

DAVE BRIGGS: Before bankruptcy would definitely be where I was leading with the quote.

JARED BLIKRE: All right. I think he can do it. I think he can do it. He knows how to chop heads. He knows how to cut costs here. He's not even paying the rent. That's a big piece of the puzzle. And unfortunately, revenues for him are tanking as well, as you put.

So I think he can do it. It's going to take a while. He's done-- he's worked miracles on the floor with Tesla. I think he can do it here.

DAVE BRIGGS: Yes, Tesla with zero ad budget. Has never had to have an advertising budget. He's never had to work with these companies. He's failing to do it thus far. We shall see.

JARED BLIKRE: We shall see.

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