"If the [EU] Commission elects to designate Twitter a VLOP [Very Large Online Platform] under the DSA [Digital Services Act] the business will face an accelerated compliance timetable with oversight kicking in in February next year — rather than in February 2024 — and with a tougher set of requirements to assess and mitigate risks on its platform.
All that compliance requirement — with far fewer staff… is… just obviously going to be a total car crash 😬
Fines under the DSA scale up to 6% of global annual turnover. While, under the GDPR [General Data Protection Regulation] the regime already allows for fines up to 4% for major breaches. So if Twitter isn’t bankrupt yet is may just be a matter of time before its owner’s recklessness toward legal risk finishes the job.
COMMENT: This question is challenging me to wade in very deep waters! The 2nd article analyzes the possible financial impact of all of the personnel cuts & losses, advertising income losses, and possible subscription income. It also speculates about how much Musk is worth and whether he'll cover Twitter's losses himself.