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
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.
I think he should seriously consider buying Meta so that we can watch it crash and burn just like Xitter. Facebook is the cancer of the internet and it deserves to go too.
Unfortunately, Twitter was only up for sale because it wasn’t able to effectively monetize. On the other hand, Meta has figured out how to make money hand over fist.
I think the easiest route to get Musk to own Meta is if we goaded him + Zuck into a pay per view fist fight over ownership of Meta.
Twitter was profitable in the years before covid. They made a net income of $1.2 billion in 2018.
They made a slight (compared to their revenue) loss during the pandemic, presumably because advertisers generally were willing to spend less, but they were still earning more than enough - simply cut a few costs and they’d be profitable again. Or just wait for the market to improve since from the sounds of it they had more than enough savings to ride it out (that appeared to be their plan).
They didn’t sell to Musk because they were desperate, they sold to Musk because he signed a contract guaranteeing he would pay far more than the company was worth. If I owned a house that was worth a million dollars, and someone offered me ten million, hell yeah would I sell that house even if I wasn’t really interested in selling.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@beehaw.org
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
I think he should seriously consider buying Meta so that we can watch it crash and burn just like Xitter. Facebook is the cancer of the internet and it deserves to go too.
Beautiful idea
Unfortunately, Twitter was only up for sale because it wasn’t able to effectively monetize. On the other hand, Meta has figured out how to make money hand over fist.
I think the easiest route to get Musk to own Meta is if we goaded him + Zuck into a pay per view fist fight over ownership of Meta.
Twitter was profitable in the years before covid. They made a net income of $1.2 billion in 2018.
They made a slight (compared to their revenue) loss during the pandemic, presumably because advertisers generally were willing to spend less, but they were still earning more than enough - simply cut a few costs and they’d be profitable again. Or just wait for the market to improve since from the sounds of it they had more than enough savings to ride it out (that appeared to be their plan).
They didn’t sell to Musk because they were desperate, they sold to Musk because he signed a contract guaranteeing he would pay far more than the company was worth. If I owned a house that was worth a million dollars, and someone offered me ten million, hell yeah would I sell that house even if I wasn’t really interested in selling.
How about we upgrade that to a thunderdome with chainsaws?