- Elon Musk has now admitted that Twitter (previously X) may fail, but that the firm would endeavor to succeed nevertheless.
- A rich investor predicted the firm’s impending demise.
- According to Elon Musk, owner of X, there are “no great social networks right now.”
- The owner of Tesla, SpaceX, and Twitter (now rebranded as X), Elon Musk, has admitted that his $44 billion acquisition of Twitter may be doomed. Elon Musk suggested on Saturday that it might not work out. It’s unfortunate, but there aren’t any excellent’social networks’ at the moment, he stated on X.
Competitor Meta launched their own social network, Threads, on July 5. Various sources claim that in just a few hours after their debut, threads had already amassed approximately 2 million views. Six weeks in, though, X saw a precipitous drop in its user base. Daily active users have dropped from a peak of 44 million after Threads’ inception to just 10 million six weeks later.
The success of Musk’s plan to rid the platform of bots and turn it into a “super-app” is unclear at this time. According to research conducted by the creator of Mashable Matte, roughly 42% of X’s followers had no followers at all, suggesting that they were likely automated accounts. After these events transpired, Musk announced on the social media platform ‘X’ that he had come under pressure and would be disabling the blocking tool. CEO Linda Yaccarino and activist Monica Lewinsky pleaded with him to “rethink” the decision.
hello, Elon Musk and Lindsey X. The removal of the block option should be reconsidered. Having been both an anti-bullying crusader and a victim of cyberbullying, I can attest to its importance.
August 19, 2023 — Monica Lewinsky (she/her) (@MonicaLewinsky)
She tweeted, “Hey, @elonmusk + @lindayaX.”Rethinking the block option’s removal is a good idea. An anti-bullying activist who experienced cyberbullying firsthand can witness to the importance of this tool in protecting people online.
In May, Fedility reported on the success of its Twitter investment. His estimate was only a third of Musk’s total investment of $60 million.