Elon Musk was sued by the U.S. securities regulator related to his takeover of Twitter, the latest court battle against the billionaire whose empire spans electric carmaker Tesla, space startup SpaceX and brain-chip startup Neuralink.
19.09.2023 - 19:13 / tech.hindustantimes.com / Mark Zuckerberg / Elon Musk
Elon Musk has suggested charging all users of his social media platform X, which would be the biggest shake-up since he took over the site then known as Twitter last October, but experts say he might struggle to get users on board.
During a talk with Israeli Prime Minister Benjamin Netanyahu on Monday, Musk said that introducing a "small monthly payment" for X was the only way to combat the legions of automated accounts, known as bots, that plague the site.
But X users united in dismay at the plan, suggesting it could finally put an end to the site, and analysts questioned the logic of a move that would make the platform even less appealing to advertisers.
"I imagine that a large number of people won't go through the hassle of adding payment details, regardless of how small the price is," said Simon Kemp, founder of online advisory firm Kepios.
Musk bought Twitter for $44 billion but has since admitted its value has plunged after he gutted its workforce and allowed right-wing conspiracy theorists back on the site, sending advertisers fleeing.
Musk said in July the platform had lost roughly half its advertising revenue, though a month earlier he had claimed that almost all advertisers had returned and that 90 percent of bots had been removed.
X did not respond to AFP's request for details on the plan to charge users.
Netanyahu asked Musk about anti-Semitism, and how X could "prevent the use of bots -- armies of bots -- to replicate and amplify it".
Musk replied that the company was "moving to having a small monthly payment for use of the X system".
"It's the only way I can think of to combat vast armies of bots," he said, explaining that even a small fee would make it expensive to run bots.
The conversation, which was broadcast on X, came as the Tesla tycoon is mired in a row with the Anti-Defamation League, a US-based Jewish organisation.
Musk has threatened to sue the ADL for making unfounded accusations of anti-Semitism that have scared away advertisers and hurt his company's revenue.
Musk has long been accused of promoting anti-Semitic tropes and reports in US media said his advisers encouraged the Netanyahu meeting in part to counteract that image.
His move to make users pay sparked thousands of critical messages and memes.
"RIP X/Twitter! It's been REAL and it's been FUN but since you took over, it ain't been REAL FUN," a user called Jesi T wrote.
James Cooper, director of the Business of Apps agency, said introducing a blanket paywall would crush the "network effect" of having millions of people interacting on the site, one of its biggest draws for both advertisers and users.
"Universal charging for the service would decimate the user base and therefore destroy the value in the network and the reason to take
Elon Musk was sued by the U.S. securities regulator related to his takeover of Twitter, the latest court battle against the billionaire whose empire spans electric carmaker Tesla, space startup SpaceX and brain-chip startup Neuralink.
X (formerly Twitter) has begun testing three different tiers of its proposed premium subscription. The information came from the company CEO Linda Yaccarino in a meeting with debt holders as she updated the bankers about the finances and revenue of X, as per a report. It was also highlighted that the testing was done to increase the revenue collection from the subscription funnel. Additionally, X also stated during the meeting that the advertisers are returning back to the platform, although with smaller budgets.
Social media platform X is partnering with Paris Hilton and her digital ad agency 11:11 Media as it seeks new revenue and to redefine the platform formerly known as Twitter. X will work with Hilton to create original video content on fashion, beauty, travel and other topics, the company announced Monday. Hilton, an American media personality and socialite, will also help promote the launch of X's new products and services.
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Former Twitter Trust and Safety Head, Yoel Roth, who resigned last year after a run-in with billionaire owner Elon Musk, has issued a stark warning to X (formerly Twitter) about its precarious position concerning the European Union's Digital Services Act (DSA) as well as its safety policies. Speaking at the recent Code Conference 2023, Roth, was interviewed by Kara Swisher. Roth highlighted X's withdrawal from the EU's Code of Practice on Disinformation in May and cited Commissioner Vera Jourova's accusation that the platform is a major disinformation spreader. Roth believes that a confrontation with EU regulators is now inevitable, given the DSA's severe penalties of up to 6% of global annual turnover for breaches. However, while that issue is still simmering, what really caught the eye was the poignant and stark reminder of what happened to Roth after the run-ins with Musk, including death threats that even forced him to sell his house and move in order to stay safe. Roth said these death threats were "inspired by the company's leader".
Billionaire Elon Musk, known for his online presence on X (formerly Twitter), is asking the general public, anyone with a smartphone, to make waves on the microblogging platform and thereby change the world for the better. Musk wants everyone to know that X is no longer just about text, that it's evolving into an all-in-one solution for users, covering everything from social media to banking.
X-owner Elon Musk said that he had gutted the platform's team dedicated to preserving election integrity as key votes in many countries are approaching.
Twitter has reportedly removed an option to report election misinformation.
Over the last 12 months, X (formerly Twitter) has undergone a multitude of changes. Elon Musk's acquisition of the microblogging platform has spurred controversy from day 1, with people calling measures such as the removal of verification, and temporarily limiting tweet views draconian. After managing the company as the CEO for a while, Musk appointed Linda Yaccarino as his successor. This change hasn't really moved people's opinions about the Musk-owned company, as its rival Threads soared in popularity as soon as it was launched by Meta.
Get ready to encounter chatbots based on human celebrities.
It seems like everyone is interested in buying the latest iPhone 15 series since its debut on September 12. While Apple only started selling them on September 22, the iPhone 15 has been in high demand with the devices flying off the shelves, with the top-end iPhone 15 Pro Max being sold out until November. But the hype is not limited to just the common folks, it has celebrities and billionaires excited too. Indian actor R. Madhavan recently showed off his latest purchase, the iPhone 15, which has been made in India. Now, Elon Musk says he is also planning to buy Apple's latest iPhone.
The topic of whether business magnate Elon Musk is truly in Cyberpunk 2077 can finally be put to rest, as a CD Projekt Red developer has confirmed that he definitely isn't.