What Does Elon Musk Plan For 2023?

In a tweet sent on Friday, Elon Musk, the CEO of five businesses, including Tesla (NASDAQ: TSLA) Inc. and Twitter Inc. (NYSE: TWTR), predicted that his businesses will be well-positioned in 2023 despite the prospect of a challenging economic climate.

A day after raising the prospect of Twitter filing for bankruptcy, Musk tweeted. Three people who have seen the letter said that Musk warned Twitter earlier in the day that if it doesn’t increase subscription revenue to balance declining advertising revenues, it won’t survive the next economic collapse.

Outlook on Twitter’s Business Plan

Twitter presently owes $13B in debt; over the following year, it will pay close to $1.2B in interest.  The payments go beyond the business’ current cash flow figures, which as of the end of June, totaled $1.1B. Tesla, a manufacturer of electric vehicles, increased its inventory in Shanghai, China, at its quickest rate in October.

About half of Tesla’s global deliveries last year came from a facility in Shanghai, which the company views as a crucial market and production hub. According to data from China Merchants Bank International, Tesla built 87,706 Model 3s and Model Ys in Shanghai in October but only delivered 71,704 of them, leaving 16,002 Chinese-made vehicles in inventory (CMBI).

To increase sales, Tesla cut the cost of its Model 3 and Model Y vehicles in China. Additionally, it gave consumers who took delivery in November and purchased insurance from one of its partners an extra discount. Last month, Musk told analysts that the quarter’s demand was high and that he anticipated Tesla to be “recession-resistant.” Musk serves as the CEO of the tunneling business The Boring Company, the brain-chip startup Neuralink, and the satellite internet company SpaceX.