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Elon Musk Suggests He Will Charge All X/Twitter Users a Fee to Be on the Platform (variety.com)

submitted 1 year ago by UrLogicFails to c/technology

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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.

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[–] briongloid@aussie.zone 21 points 1 year ago (2 children)

He owes a lot of money to banks, etc, for the company.

Explicitly closing Twitter would make him liable for destroying other people's equity. Accidentally destroying twitter while pretending to drastically fix it, while pretending it's failing against his will and his taking measures to save it, is the only way to kill it without being on the hook for it.

[–] FlowVoid@midwest.social 5 points 1 year ago

Incompetence is not a legal defense.

[–] Honytawk@lemmy.zip 2 points 1 year ago

I doubt he won't be on the hook for the billions he got as investment no matter how he destroys Twitter.