Just got some pretty amazing new data from Blind, the anonymous online community app for employees: In a survey of Twitter staff using the app conducted from November 7 to 10, a full 89% say they don't believe Twitter will succeed as the social network company's new CEO. (See image above.)
Based on incessant reports of major layoffs and resignations by top execs, I expected a large-ish percentage of Twitter's staff to have a negative outlook on Musk's leadership. But 9 in 10, nearly the entire company? This also suggest Musk's reported all-hands meetings and internal pep talks at Twitter have not helped morale -- nor has his general reputation as a tech genius capable of pulling off seemingly impossible tasks. (Historically, admired tech executives are able to build overall morale after a layoff.)
Elon Musk's Twitter takeover has helped helped one online community, at least: The Twitter employees using Blind.
"The increase in usage from Twitter employees has been incredible," Blind's Rick Chen tells me. "They now check Blind an average of four times a day compared to an average of two times a day six months ago (i.e., before news broke about Elon having bought a stake in the company). Twitter users are almost exclusively posting and reading content in the private company channel."
In fact, over three in four Twitter employees are now active Blind users.
"We now have more than 6,100 users from Twitter on Blind, or more than 80% of all Twitter employees," says Chen. "About a quarter of our Twitter users signed up in the last six months (between March and October 2022)." [Update, November 14: As of last Friday, Chen tells me, "There are now more than 7,100 verified Twitter professionals on Blind or about 95% of the pre-layoff employee count!"]
This survey also asked Blind employees how fellow staffers were treated in the recent layoffs ordered by Musk:
Asked their reaction to the statement, "I believe Twitter treated employees with dignity and empathy during the layoff", a full 95% of respondents disagreed, almost all vehemently so.
This is also a troubling sign of Twitter's future prospects. Layoffs in large companies are common and expected in rough times, but if they're handled poorly, it's a strong motivator for the remaining employees to look for the next available exit -- and as those bad vibes spread through the Valley, discourages talented new hires from joining the team.
Couple more questions from the Blind survey enforce that sense:
- 1% strongly agree
- 1% agree
- 7% neither agree nor disagree
- 13% disagree
- 78% strongly disagree
- 32% strongly agree
- 31% agree
- 23% neither agree nor disagree
- 8% disagree
- 6% strongly disagree
Data and images courtesy Rick Chen of Blind
In Twitter's 16.5-year history, I am unaware of any financial period where Twitter Inc. made a profit. Before Musk made his purchase Twitter was and is expected to lose $700 million next year. An anticipated $700 million loss in the 17th year. The company obviously has too many employees, with salary being the biggest expense. More than 50 corporate investors in Twitter Inc have invested more than $13 billion dollars. $13 BILLION into a company that in 17 years has never developed a profitable cash flow or a revenue model for Twitter Inc. to create a profitable company. Many financial investors, such as myself, were stunned that anyone would buy Twitter before it went into eventual bankruptcy. I do not believe Twitter can survive bankruptcy because I do not believe there is a sustainable financial model whereby Twitter can become a profitable company. The disconnect between these employees and the hard reality of a bankrupt business that Musk just paid $44 billion for is truly a sad statement on the mentality of the super over-privileged.
Posted by: Luther Weymann | Friday, November 11, 2022 at 06:32 PM
I'm sad to state the obvious: risking Twitter's bankruptcy is no big deal compared to risking the Kessler syndrome. ¯\_(ツ)_/¯
Posted by: Martin K. | Friday, November 11, 2022 at 10:11 PM
And nothing of value would be lost. Including all those staff - just as responsible for the thing as anyone.
Posted by: sirhc desantis | Saturday, November 12, 2022 at 04:24 PM
Megalomaniacs are not known for their empathy. That said, I would not miss Twitter. It's part of the problem, no longer part of the solution.
Posted by: Iggy 1.0 | Saturday, November 12, 2022 at 06:01 PM
"About a quarter of our Twitter users signed up in the last six months (between March and October 2022)."
And that pretty much tells you all you need to know.
Posted by: Kyz | Sunday, November 13, 2022 at 05:28 AM