Musk reassured investors: companies such as Twitter and Tesla will have a good year.

According to news on the evening of November 11, Beijing time, Tesla CEO Elon Musk (Elon Musk) said on Twitter today that despite the difficult economic situation, several of his companies will be in a favorable position in 2023.

In addition to serving as Tesla CEO, Musk is also the CEO of Twitter, space exploration technology company SpaceX, brain-computer interface company Neuralink and tunnel mining company The Boring Company.

It comes just a day after Mr Musk said he would not rule out the possibility that Twitter would go bankrupt in the future. "if Twitter fails to offset the decline in advertising revenue by increasing subscription revenue, the company may not be able to survive the coming recession," Mr Musk said in his first email to Twitter employees yesterday.

About 90 per cent of Twitter's revenue comes from advertising, and Mr Musk says the flight of advertisers has caused Twitter to lose more than $4 million a day. He believes that Twitter relies too much on advertising revenue and is vulnerable to a drop in brand spending, so it needs to increase subscription revenue.

Twitter currently has about $13 billion in debt and faces a total of nearly $1.2 billion in interest payments over the next 12 months. That exceeds the company's most recently disclosed cash flow, which was about $1.1 billion at the end of June.

At the same time, the inventory of electric car maker Tesla is also growing rapidly. To boost sales, Tesla also lowered the prices of Model 3 and Model Y in individual markets and offered additional kickbacks to buyers of insurance. But Mr Musk said last month that demand was strong in the fourth quarter and that Tesla was expected to be "recession-proof".