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Musk is struggling to get Twitter’s financials to work. Will he succeed?

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Twitter

Elon Musk has been tweeting a lot recently, and in many of his tweets he is trying to brag about his new expensive toy: Twitter. It is $44 billion Dollar expensive, to be precise, and Musk is keen to get engagement figures on the platform to increase. He is even more eager to get people to sign up and pay $8 a month to buy the Twitter blue check mark. Well, it is not necessarily going as he intended, as many users are migrating to other platforms, to the extent that some of those other platforms have temporarily suspended new signups due to overload.

Musk is fighting hard to get Twitter to generate revenue, even though he wants to reduce the role of advertisement in generating income. And there are several reasons why he wants to generate positive cash flow from Twitter very quickly.

The first reason has to do with the amount of debts that Twitter currently owes to creditors. Before the acquisition took place, Musk already owned more than 9 percent of Twitter’s shares, so he only had to buy the rest in his acquisition deal which he could not back out of. In order to partially finance the deal, he had to sell $15.5 billion worth of shares in Tesla, whose share CFDs you can trade with a renowned broker like easymarkets.com.

Institutional and individual investors

The rest of the money came from different sources. Investment funds and institutional investors like Qatar Holding, which is under the control of Qatar’s sovereign wealth fund, the Qatar Investment Authority, contributed with funds. Individual investors like Alwaleed Bin Tala and Larry Ellison, the co-founder of software company Oracle, also contributed. The latter wrote a $1 billion cheque to buy shares in the social media company.

Loans

Yet, Musk is probably not worried about the money raised from investors. He is rather concerned about the loans raised to complete the payment of $44 billion. Loans from banks amounted to $13.5 to fund the purchase. Those banks include Japanese banks Mitsubishi UFJ Financial Group and Mizuho, Barclays and the French banks Societe Generale and BNP Paribas, among others.

Those loans have interest payments attached to them, and in such a high interest rate environment, this debt service periodic payment is likely to be huge. According to some estimates, those payments could amount to $1 billion per year. No wonder Musk is tweeting and trying to hype up the platform.

What the future holds for Twitter

At the end of last year, and based on publicly available documents, Twitter already owed more than $4 billion in long term debt – and that is before the acquisition. In the first half of 2022, it seems that the company operated at a loss. Bringing the company back to the private sphere will also close an available avenue for funding in case troubles begin to brew (if they haven’t begun to do so already).

Risks are mounting, and it is unlikely that subscriptions will compensate for the drop in revenues from advertisement, due not only to Musk’s intentions to reduce reliance on ads, but also due to many companies holding back on using the platform for promoting their products and services. Whether Musk will be able to achieve a turnaround is yet to be seen. Even if he does, it will have to be a really big and impressive one. Musk should perhaps tweet less and focus on strategy more.

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Samsung Galaxy M35: Design, colour revealed ahead of launch

The Galaxy M35 is expected to boast a substantial 6000mAh battery capacity, surpassing its counterpart, the Galaxy A35, which contains 5000mAh.

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A renowned tipster, Evan Blass, has provided enthusiasts with an early look at the design and colour choices of the Samsung Galaxy M35, ahead of its highly anticipated debut in the Indian market. The smartphone is set to arrive in three distinct colour variations – grey, light blue, and dark blue, which show striking similarities with the Galaxy A35, suggesting a possible rebranding strategy by Samsung.

The leaked image showcases the Galaxy M35 with a vertically aligned triple rear camera setup, positioned at the top left corner alongside an LED flash integrated into what appears to be a plastic back. The Galaxy M35 introduces a sleeker and more modern look with a hole punch selfie camera cutout, departing from the water drop style notch seen on its predecessor.

Meanwhile, the Galaxy M35 is expected to boast a substantial 6000mAh battery capacity, surpassing its counterpart, the Galaxy A35, which contains 5000mAh. This enhancement in battery power indicates Samsung’s commitment to delivering extended usage durations for its consumers. 

Moreover, specific specifications are yet to be confirmed by Samsung, but reports suggest that the Galaxy M35 could feature a 6.6-inch display and run on an Exynos 1380 chipset paired with 6 GB of RAM, ensuring seamless performance for users across various tasks and applications. 

Despite bearing a resemblance to the Galaxy A35, the leaked image also highlights subtle differences between the two models, notably in the design of the volume and power buttons, as well as the location of the SIM tray. Such nuances indicate the potential distinction in user experience and functionality between the two devices.

As excitement grows for the upcoming release of the Samsung Galaxy M35, fans and tech enthusiasts are eagerly waiting for more information from the company about the phone’s specifications, price, and when it will be available. Stay tuned for more updates in the days or weeks leading up to the official unveiling of the Galaxy M35.

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Netflix to remove downloads feature on Windows next month

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Netflix is reportedly planning to discontinue its Windows 10 and 11 app, replacing it with a progressive web app. The streaming giant might remove support for offline viewing. The upcoming application will get improved video streaming quality and offer access to live events.

The present version of the Netflix app for Windows 10 and Windows 11 enables users to download their favourite shows up to 1080p. Reportedly, a new support document on website reads that downloads will no longer be supported, but users can continue to watch TV shows and movies offline on a supported mobile device. Tech experts said that the aforesaid document means that downloads will be soon limited to mobile and tablets.

It is reported that the updated Netflix app for Windows will also support the ad-tier, which lets users watch content on the platform at a much lower price than the standard plans and includes commercial breaks in most TV shows and movies. In addition, some titles are also unenviable on this tier because of licensing issues.

Currently, the Netflix Windows software currently displays the notice that your plan does not support streaming on this device and is incompatible with the ad-supported plan. If an user want to want to watch TV series or movies offline, they will need to go back to mobile phones as the ad-supported tier, which is not available in India.

The new app’s availability and release date are yet unknown. Netflix has not made an official announcement regarding the launch date, and it claims that the users who have enabled Microsoft Store automatic updates will receive the update automatically when it becomes available for all the users globally.

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Happy Birthday Mark Zuckerberg: Social media users wish Facebook co-founder on his 40th birthday

Born on May 14, 1984, Zuckerberg has grown from a Harvard dropout into a billionaire philanthropist, owning many tech ventures over the years. He started Facebook in 2004 and took it public in 2012.

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Mark Zuckerberg, co-founder and CEO of Facebook (Meta), is celebrating his 40th birthday on May 14. Zuckerberg, one of the most influential figures in the tech industry, has had a major impact on how people connect and communicate with each other all over the world.

At 40, Zuckierberg continues to lead Facebook and its parent company, Meta, towards new technological frontiers. Born on May 14, 1984, Zuckerberg has grown from a Harvard dropout into a billionaire philanthropist, owning many tech ventures over the years. He started Facebook in 2004 and took it public in 2012.

In 2021 the social media platform changed its name to Meta to shift the company’s focus to the metaverse. Under his leadership, Facebook has grown into a global platform with over 2.8 billion active users. Apart from this, he has also expanded his influence through the Chan Zuckerberg initiative, which is run by Zuckerberg and his wife Priscilla Chan and focuses on philanthropy in health, education, and scientific research with an investment of 99% of the couple’s wealth over their lifetime.

There has been a rise in the net worth of Mark Zuckerberg over the last few years. According to Forbes, his net worth stands at $177 billion, which makes him the 4th richest man in the world. Since Facebook (now Meta) acquired WhatsApp in 2014 for $19 billion, Mark Zuckerberg’s net worth has grown significantly.

In 2014 his net worth was approximately $26.1billion, which now stands at around $177 billion, which reflects a substantial increase in the net worth due to Meta’s expanding business and strategic acquisitions over the year.

Before Zuckerberg turned 40, he gifted himself a brand-new superyacht, Launchpad in March 2024. According to reports, Zuckerberg purchased $59 million worth of waterfront property on Lake Tahoe in California in 2019. He spends his money on luxury vehicles and owns a Acura TSX, a Honda Fit, and a black Volkswagon Golf GTI.

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