Twitter will continue to bleed money if it's new owner Elon Musk doesn't find a way of bringing back advertisers and monetizing the platform, analysts say, amid a new wave of resignations from the social media giant.
"This is essentially Game of Thrones between Musk and the Twitter employees," says Dan Ives of Wedbush Securities. "This is really a quicksand situation that he's trying to fix. And the more he does, the more damage he does."
Hundreds of Twitter Inc employees are estimated to have decided to quit the beleaguered company following a Thursday deadline from new owner Elon Musk that staffers sign up for "long hours at high intensity," or leave.
Ives highlighted morale problems with the social media giant, as many of Twitter's 3 000 or so staff are reluctant to remain at the company.
"I think there's a feeling right now that this situation is just continue to go more and more into a train wreck," said Ives, "And I think it's something even Musk himself underestimated."
Musk took to Twitter late on Thursday and said that he was not worried about resignations as "the best people are staying."
Reuters