Elon Musk on Thursday gathered Twitter employees who survived the mass layoffs after his takeover and warned that “bankruptcy is not out of the question,” per reports.
“Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn,” Musk said.
The rollout for Twitter Blues new $7.99 subscription tier, which comes with an automatic verification badge, has been rocky.
Users with newly purchased verification badges quickly began impersonating large brands including Eli Lilly, Chiquita, Nintendo and Tesla.
Musk also floated the idea of raising revenue by offering banking services via Twitter, which could integrate with targeted ads that let users buy products.
