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.

    • UrLogicFails@beehaw.orgOPEnglish
      60·
      1 year ago

      It really feels like a lot of social media platforms are intentionally self-sabotaging themselves. I keep expecting them to die off every time something like this happens, but they appear to continue on regardless.

      I think that social media sites actually dying off is actually impossible with enough inertia (even if their base decreases) and that’s why they are emboldened to do such anti-consumer practices.

      All this to say that I’m sure Steve Huffman has immediately started furiously texting everyone he knows about his new idea to charge for Reddit as well as a boosted version of Gold called “Alien Orange” or something.

      • ChristianWS@lemmy.eco.br
        18·
        1 year ago

        Even if a social network loses 99,99% of the user base due to charging to use it, those left are the ones that see no problem paying to use it, so they are more likely to eat up some insane pricing, which would help recoup losses from a smaller user base. Basically whales.

        I think the only way to try to kill a social network is by going full scorched earth on it. Remove all your comments, or change them to be an annoying copy pasted comment about why you’re getting off the platform. And even then I don’t think it is helpful, I did that with Reddit but was forced to leave technical posts intact because I feared I might prevent someone from solving their issue.

          • Bizarroland@kbin.social
            1·
            1 year ago

            It’s the regenerative braking version of monetizing a website.

            It seems silly to not have actual physical brakes on a car and to rely on electric inertia to slow down, it works well in practice. When the pressure starts being applied it may seem like the vehicle is not slowing down but the process of slowing down has begun.

            Twitter has had financial brakes applied to it and you just got to wait a little while and it’s either going to slow to a crawl and then stop, a new conductor is going to be put on board, or it’s going to completely derail.

      • renard_roux@beehaw.org
        3·
        1 year ago

        Maybe it’s like when email scammers intentionally leave in tons of spelling and grammar mistakes. Anyone that notices probably wasn’t going to fall for the scam, anyway, leaving only the weak after culling the strong.

        I’m not completely sure what the point would be, other than leaving you with a propaganda tool without dissenting comments built in, an idiot echo chamber. Who knows, maybe that’s worth the amount of financial loss he’s caused.

        Maybe he’s trying to revert back to Minimal Viable Product while keeping only the dumb and bigoted.

        Or maybe he’s just not as smart as everyone thought.

      • 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.