I'm not surprised when Musk's X loses two third of the initial value.
Some say it's close to 90%...
Twitter’s value has plummeted by almost two-thirds since Elon Musk
acquired the company in October 2022, one of the social media company’s
only remaining external investors has admitted.
Fidelity, an asset manager that held a stake in Twitter worth about $20m
after Musk acquired the business for $44bn, said in a corporate filing
that its stake was now worth just under $6.6m. That would value the
overall company, now officially called X Holdings Corp after Musk’s
early venture X.com, at just $14.75bn.
https://www.theguardian.com/technology/2023/may/31/twitters-value-down-two-thirds-since-musk-takeover-says-investor
-Adrian
On 2023-09-19 13:47, Tony Sweeney wrote:
Elon Musk says Twitter, now X, is to charge all users subscription fees=========================================================== The fb-exchange mailing list Manage account, List Page: https://www.freelists.org/list/fb-exchange
Billionaire also says platform has 550 million monthly users generating up to 200m posts a day
The X owner said erecting a paywall around the business would ward off the bots, or automated accounts, that have become a bugbear for Elon Musk. Picture: JOEL DAN MILMO
Elon Musk has indicated that X, formerly known as Twitter, is preparing to charge all users for accessing the platform.
The X owner said erecting a paywall around the business would ward off the bots, or automated accounts, that have become a bugbear for Musk.
Speaking in a meeting with Benjamin Netanyahu, the Israeli prime minister, the Tesla CEO and world’s richest person suggested that X was going to charge its user base. Currently, Twitter only charges users for its subscription service X Premium, which offers perks such as a verified account checkmark and costs €11 a month in Ireland.
“We’re moving to having a small monthly payment for use of the system,” Musk said.
Saying that bots cost “a fraction of a penny” to set up, Musk added that raising the cost of an account to “a few dollars or something” could put off operators of the software.
He added: “Plus, every time a bot creator wanted to make another bot, they would need another new payment method.”
Musk also said X had 550 million monthly users generating up to 200m posts a day. Previously, the platform had measured its user base by a different method, monetisable daily active users, which stood at 238 million before Musk bought the business in October 2022.
Musk has raised the prospect of a paywall as the platform battles an entrenched decline in advertising, its main source of income. Musk has said an advertiser boycott, spurred by concerns over his leadership of the platform and its management of inappropriate or hateful content, has caused ad revenue to decline by 60%.
Musk’s conversation with Netanyahu was billed as a discussion about technology and artificial intelligence but it quickly turned to free speech and antisemitism amid accusations that X was not doing enough to tackle racist speech on the platform.
Musk has used his account on X to say that he is “pro-free speech, but against antisemitism of any kind”.
— Guardian
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