well. i thought, wow, this is a really nice office building. expensive? yes, a very expensive office building. great decor. it is a lovely place. and definitely spending money like it is going out of fashion, and it isn t quite going out of fashion yet. the gravity of the situation is perhaps not too well understood of, you know, at the point where the company, the transaction closed, twitter was tracking to lose over $3 billion a year, and had i billion in the bank, so that is four months to death, so that is the starting position.
you then came into twitter with a sink. what were your first impressions? well. i thought, wow, this is a really nice office building. expensive? yes, a very expensive office building. great decor. it is a lovely place. and definitely spending money like it is going out of fashion, and it isn t quite going out of fashion yet. the gravity of the situation is perhaps not too well understood of, you know, at the point where the company, the transaction closed, twitter was tracking to lose over $3 billion a year, and had i billion in the bank
spending money like it s going out of fashion. it isn t quite going out of fashion. it isn t quite going out of fashion. it isn t quite going out of fashion yet. the gravity of the situation is perhaps not well understood. at the point at which the company, the transaction closed, twitter was tracking to lose over $3 billion a year. so. and had i billion a year. so. and had i billion in the bank. so that is your starting position. how would you feel? pretty intense, you know? borrow quite a lot of money and pay interest on that as well. interest on that as well. that s why it was a ss interest on that as well. that s why it was a $3 billion interest on that as well. that s why it was a $3 billion loan interest on that as well. that s why it was a $3 billion loan rate. - interest on that as well. that s why it was a $3 billion loan rate. in i it was a $3 billion loan rate. in rough numbers, a normal year of twitter would do $4.5 billion of revenue. it was kind of like a
Combined with the First Phase of this Transaction Closed in August 2022, Workspace Has Acquired Over Nine Million Square Feet Across 59 Class A Suburban Office
market right now is already a move towards rebalancing. this summer we saw more homeowners brings homes to market. that has actually improved supply. in addition, as a result of that, homes are spending longer on the market. based on that at realtor.com, we ve seen the number of days lengthen. the direct impact has been that homes are actually beginning to see price reductions. many homeowners are beginning to come to grips with a new reality that today s market is not that from six months ago. as a result, they are resorting to price cuts to get a transaction closed. almost 20% of listings on realtor.com are seeing price cuts. so for buyers going forward, i would say the market is about to look a lot more attractive, particularly as we go into fall and winter. and for sellers, i think it s important to remember when you bring a home to market and you price it, to keep track of what s happening in your neighborhood and your community because it s very likely conditions today are not th