Bird-themed ephemera may not be everyone's cup of tea, but those who do fall into that category may be interested to learn of Twitter's recent auction. Along with brand-specific items, the social media giant also sold off a slew of office supplies following the recent upsets that have left Twitter in a state of flux.
Since billionaire entrepreneur Elon Musk became the CEO of Twitter, he has implemented a series of changes that have caused worry, frustration, and anger. From firing thousands of employees to the outrage surrounding the Twitter verification checkmark changes, Musk's management style has left the company a shell of its former self, and the subject of much derision. The fallout has had a ripple effect on his other business ventures, as well as his personal finances, with reports detailing the phenomenal amount of money he's lost.
In the aftermath of all that, Twitter is now auctioning off chairs, appliances, computers, and a host of other office and kitchen items. It's also doing away with various branded and thematic decorative items like statues and a planter shaped like an "@" symbol. Apparently, the company has actually failed to pay its rent, as reported by The New York Times last December, and the auction appears to be another attempt to cut back costs. That's no surprise following news of the world record Musk broke for losing money.
Announced last month, items from the auction all come from Twitter's San Franciso headquarters. Among other things, the company is doing away with industrial griddles, iMacs, a 3-foot bird statue, a neon Twitter light, and designer furniture made by sustainable manufacturer Andreu World. The neon light and statue are two of the most expensive items, sitting at $22,500 and $21,00 respectively, according to recent numbers. Although the auction is now closed and the final prices have not been made public, those numbers could be higher.
Despite the fiscal catastrophe and alienating business decisions, which have led to Twitter users voting to oust Elon Musk as CEO, sources claim that the sale has nothing to do with mitigating financial consequences. The auction is being handled by Heritage Global Partners, and a company representative, Nick Dove, stated that it's not a result of the social media platform's current distress. He cited the $44 billion price tag accompanying Twitter's recent purchase and said, "if anyone genuinely thinks that the revenue from selling a couple computers and chairs will pay for the mountain there, then they’re a moron.”
However, it doesn't take a genius entrepreneur to understand that, amid overwhelming financial fallout, a company should be doing everything it can to right itself. Dove's tactless comment has a point, but it seems to lack general business sense. Perhaps the rumored Twitter rewards program will help stymie the company's hemorrhaging funds, but after so much upset, it's hard to picture.
Source: The Verge