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Twitter’s mistake caused a loss of Rs 1, 20,756 crore to the company

Vivid News 24: Elon Musk has announced one big decision after taking responsibility as the head of Twitter. The US billionaire has already laid off nearly 50 percent of its workforce at Twitter. At the same time, he said that for verification, customers must buy an $8 Twitter Blue subscription per month. 

This subscription has already been launched in several countries. Many say that Elon Musk’s Twitter launched this feature in a hurry. And that’s why there are many omissions in this new feature. A drug company called Eli Lilly has to pay the loss.

US pharmaceutical company Eli Lilly is famous for producing insulin. The company’s official Twitter handle has long been @LillyPad. But one Twitter user collected the Blue Tick for $8 from the handle @EliLillyandCo. After this, a post from a fake account informed that from now on all insulin will be provided free of charge. As soon as this news spread, the company’s shares started to plummet. As a result, the company faced a loss of about 1500 million US dollars.

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After this, the company’s official Twitter handle issued an apology saying, “We apologize to those who received misleading messages from a fake Lilly account. Our official Twitter account is @LillyPad.” Meanwhile, as soon as this incident came to the fore, the uproar started in the US political world. US Senator Bernie Sanders said on Twitter that Eli Lilly should apologize for raising the price of insulin.

https://twitter.com/BernieSanders/status/1591167058917478400

Twitter subscriptions have already started in several countries, including the United States. In the new rules, blue ticks are available on profiles only after buying an $8 subscription. Many fake accounts are already showing blue ticks using it. After that, Elon Musk withdrew from this decision. On Twitter, he made it clear that if an account is opened on Twitter, it should be written in the name. Twitter will not tolerate people being fooled by funny accounts.

At the same time, on November 11, Elon Musk announced that Twitter’s subscriber base had reached a record high. Meanwhile, in a conference call with the last Twitter employees, Elon expressed the fear of bankruptcy of the company. This information was given in a report published in Bloomberg. 

In the first conference call with employees, Elon said that Twitter could face a loss of several billion dollars in the first fiscal year. Earlier in a tweet, Elon said that Twitter was losing $40 million per day. American industrialists said that this huge loss is due to the lack of trust in advertisers.

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Vivid News-24 Desk
Vivid News-24 Deskhttps://vividnews24.com
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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