This is incorrect, Twitter was profitable 16 quarters of the last 20 quarters under the past leadership. Elon tried to rewrite some of Twitter's history, suggesting Twitter's financial problems were always this bad... but the financial situation only really became drastically worse the moment he bought Twitter, saddled it with 13 billion high interest rate debt, and advertisers fled, cutting Twitter's revenue in half. Neither firing 80% of employees nor shutting down multiple datacenters & skipping rent can compensate for this.