A Twitter bird statue fetched $100,000 as owner Elon Musk auctioned off furniture, decorations, kitchen equipment, and more from the tech firm\u2019s San Francisco headquarters.
\nAccording to international media reports, a 10-foot neon light in the form of Twitter\u2019s bird logo was included in an online auction of \u201csurplus corporate office assets of Twitter\u201d that lasted just over 24 hours and received a winning price of $40,000.
\nAs he set out to hire a new CEO for his struggling social media network, Musk claimed in December that drastic cost cutbacks at Twitter had fixed the company\u2019s poor financial situation.
\nAt the time, the erratic billionaire claimed in a live chat room that Twitter would have lost $3 billion annually without the reforms, which included sacking more than half of its staff.
\nAt the platform he paid $44 billion for, Musk claimed to have been \u201creducing expenses like crazy.\u201d
\nShortly after taking over Twitter, Musk let go roughly half of its 7,500 employees, raising concerns that the firm lacked the manpower to handle content moderation and alarmed regulators, advertisers, and governments.
\nAccording to Musk, his strategy is to drastically cut expenses while increasing revenue and a new $8 monthly membership service dubbed Twitter Blue will aid in achieving this objective.
\nMass layoffs, the reinstatement of blocked accounts, and the suspension of journalists who criticise the wealthy South African-born Elon Musk have all contributed to the instability that has gripped Musk\u2019s Twitter.
\nRacist or offensive tweets also increased after Musk\u2019s takeover, which attracted regulatory attention and drove away major advertisers, Twitter\u2019s primary source of income.<\/p>\n","protected":false},"excerpt":{"rendered":"
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