Expert Comment
John Colley from Warwick Business School on Twitters loss in revenue
"Elon Musk committed to purchasing Twitter - a company that had never consistently been able to monetise is popularity - for an inflated price, just as tech business values were plummeting.
"That price tag drove Musk to make major instant changes. He scythed through the workforce, reducing 8,500 employees to 1,500 in a matter of weeks.
"He may have reduced the cost base, but he has also lost much of the company's revenue and antagonised almost all of Twitter's major stakeholders.
"Charging Tweeters and those reading Tweets was never going to maximise users - something that Twitter needs to do as a company that relies on advertising for revenue.
"In addition to that, many advertisers on Twitter view Musk and his forthright views as toxic to their own image and not something they wanted to be associated with.
"Many have left or suspended their advertising activities with Twitter.
"Equally troubling for Musk is that his turbulent track record with Twitter has irritated shareholders at Tesla - one of his major successes.
"His acquisition of Twitter increasingly looks like an expensive mistake."