Elon Musk may flip the switch to make X — the social network formerly known as Twitter — an entirely subscription-based platform. Musk brought up the idea of charging all users of X/Twi…

I’m not sure if this is technically Technology news, but I can remove this post if it’s in the wrong community

Archive link: http://archive.today/3XM6s

Musk brought up the idea of charging all users of X/Twitter during a wide-ranging conversation focused on AI that featured Israeli Prime Minister Benjamin Netanyahu on Monday. “[We’re] moving to a small monthly payment for use of the X system,” Musk told Netanyahu, claiming that it is the only way to eliminate the problem of bots, as reported by Bloomberg’s Dave Lee.

Musk didn’t mention timing of his plan to charge X/Twitter users, nor did he say how much it would cost.

Musk, who also is CEO of Tesla and SpaceX, has said X/Twitter ad sales have plunged 50% since he bought the company. “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load,” Musk posted on July 15.

  • mobyduck648@beehaw.org
    1·
    1 year ago

    Outside of the special case of Twitter which is Musk poncing around like the absolute weapon he is, it’s not that they’re dumb rather it’s the investment that was once bountiful is drying up. It’s most visible in social media but VC-backed tech in general has suffered, I was laid off last year myself from a small company in London because the funding round was much smaller than anticipated.

    In the era of cheap money investors were keener to put their money into companies, but now interest rates are higher other investments are more attractive than they were so now tech investors want returns and they want them now rather than being content to pump up the user base and worry about profitability later, hence all of our social media platforms getting the Maggie Thatcher treatment.