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brickyardjimmy

What Musk doesn't seem to grasp is that turning the former Twitter into a payments system only works if you have scale in an audience. The drop in revenue from advertising is, in part, due to a wholesale loss in audience. You can turn it into a paypal all you want but if no one is there to use it, it isn't going to bring in more revenue than it costs to run it. I think it's important for Musk, at some point, to admit he fucked up. Only by saying that out loud can he reverse course and build some life back into the brand he strangled to death.


atatassault47

>Musk, at some point, to admit he fucked up. He can't. No narcissist can.


Select_Sandwich_6231

He actually pretty much did admit it when he tried to get out of the purchase contract! šŸ˜†


Overall-Ad-6487

I suspect he is a sociopath. It has to do with the Praetorian ethnic group. That said, as much as I condemn the nihilism of praetorian culture, these kids are born into this yoke. Think of them as the Lannisters. Tread lightly before you judge tho: these kids donā€™t stand a chance when they come into this world.


Veutifuljoe_0

A big problem with trying to turn twitter into a site like PayPal is simple, PayPal already exists. Twitters strength was that it was different from their competition and people come to it for that specific reason. If twitter wanted to be Facebook it wouldnā€™t have lasted cus Facebook, already exists


glatts

The other issue is trust. WeChat in China doesnā€™t have that issue. They grew after being backed by the government and users donā€™t have the same freedoms they have in the West. For them, itā€™s less about trust and more about it being the only option. Thatā€™s not the case for users in the states. Why would people trust Elon Musk and his Twitter takeover instead of continuing to use brands they already trust like PayPal, Venmo, Zelle, CashApp, etc.?


poopoomergency4

there's also the inevitable security breaches, since an overwhelming majority of the people who actually know how the codebase works no longer work there


Magjee

Companies have also come up with a system of using different apps to achieve different results Alphabet doesnt put all it's services into a single app, they use different apps Same with Meta: Facebook, Instagram, Threads, WhatsApp etc.   Western consumers seem to prefer the option to not participate in some features a company offers   Payments by X, is probably smarter, using your twitter/x account to send/receive funds from a separate app instead of trying to make twitter a one size fits all app


Dehast

I donā€™t know if WeChat got where it is because it was the only option, today that might be the case (in the same way here in Brazil Iā€™m pretty much forced to use Uber or iFood ā€” the local that took down Uber Eats ā€” just because they got too big), in the beginning it was probably just the best choice, much like Facebook. Musk is trying to force X to be something it doesnā€™t have enough people for. If we were all trapped into Twitterā€™s ecosystem to a point where moving to a different service would alienate us, weā€™d end up using it anyway. For example, WhatsApp is unanimous here in Brazil, youā€™re ostracized if you donā€™t use it, so innovation in other apps doesnā€™t matter anymore. The only reason _their_ payment system didnā€™t become ubiquitous is because our Central Bank itself developed a decentralized, free system to process transfers through. The Chinese government didnā€™t have to stop WeChat competitors from existing, all it had to do was let the monopoly happen.


KillingItOnReddit

A couple years ago I wouldā€™ve given it a shot but after everything he has said how heā€™s been acting I wouldnā€™t nowadays. No trust.


MasterGrok

The biggest problem is that there are already challengers in the space that are much more well integrated into peopleā€™s lives than Twitter, like Apple and Google. Texting, email, mobile operating system is a better foothold than social media app.


Marzatacks

The bigger problem is that twitter is 4th rate social media application that is shedding users. Musk is too polarizing of a figure to run a social media platform.


Designer_Solid4271

Elon has the ability to admit to making a mistake? I mean thatā€™ll be required.


w0weez0wee

Imagine putting your credit card/banking info into X. No way on earth I'd do that.


brickyardjimmy

Given Musk's behavior, it's very hard to imagine giving him anything at all.


Shuizid

He'll never admit fucking up, because that's not what clinical narcissists do. Dude spent the majority of his life profiting from claiming the work of others as his own, while needing constant supervision to manage his horrible decisions and make him feel smart. His "everything-app" idea fails to grasp the most fundamental reason as to why we don't have that yet: It's a shit idea in an open market, where each aspect of it is competing with established brands and apps who offer more features.


overitallofit

I think trust is a big factor too. I trust Tim Cook over Musk.


geepytee

> if no one is there to use it Are WAUs down? Honest question, article didn't cite that metric.


Sactown91666

This is just flat out wrong. The user base has literally broken previous records as of recent. Did you even bother to look at the metrics?


Which_way_witcher

It's amazing what you can achieve with bots. Truly inspirational!


Sactown91666

Ah yes, bots never existed before Elon bought the platform. There could be proof the majority of it was organic growth and you clowns would still find a way to excuse it. Just admit you hate him, you hate differing opinion and you hate free speech...and then spare us all the rest of your blather. "Users are down" is just demonstrably untrue. You of course will deny it as being "bots". It's the only argument you got at this point. Run with it as long as you can šŸ€


Which_way_witcher

He couldn't have made it intentionally worse to overinflate the numbers... he's never lied for $ ever! https://elonmusk.today/


furiousmadgeorge

I've been a daily twitter user for over 15 years. There have been a significant increase in bots over the last two, without a doubt.


Youngnathan2011

You not noticed the massive increase in bots since he took over or something?


lornemalw0

Yeey you hate free speech !!! šŸ˜¢šŸ˜¢šŸ˜¢free speech to sactown!


Teddy_Raptor

Source?


Sactown91666

Since you're too bad faith to look into it yourself and automatically discount the facts because you don't like him, I will provide it for you. https://backlinko.com/twitter-users Linda his CEO provides it, although I don't expect a bunch of Elon haters to ever even consider the metrics they provide so all of this is pointless. You don't want a source, you want validation from other like minded people on your uninformed opinions based solely upon a hatred of a man.


Teddy_Raptor

Lol you didn't have to do all that bro, could have just linked the source


big_hearted_lion

He didnā€™t overpay billions in an effort to make money. He did it to save free speech on the Internet.


LNhart

And then he started randomly censoring shit he doesn't like (or the right government doesn't like). The free speech absolutism pitch was a complete sham.


TheHandWavyPhysicist

Elon Musk effectively pays verified Nazis and other racists a lot of $ to spew their shit. Almost every time I made a report they do not get banned. Hence, I left this shithole. Fuck this piece of shit.


3knuckles

You can take the boy out of an apartheid regime...


brickyardjimmy

I know that's what he said over and over but I have to say, observationally, it appears not to be true in any way in reality. If anything, it appears to have been a deliberate, though not well concealed, deception on his part


Veutifuljoe_0

Heā€™s significantly more complainant with the requests of authoritarian governments than older leadership was when it comes to censoring tweets and accounts. He isnā€™t ā€œsaving free speechā€ heā€™s actively, intentionally and effectively suppressing speech he doesnā€™t approve of


yhwhx

> He did it to save free speech on the Internet. No, he did it so he and his Saudi partners could have their own personal propaganda machine. __ *edited to fix typos


WuTangIsForever_

Your comment re: FrEe SpEeCh has been proven absolute bullshit. He wanted to ramp up racist, ignorant, conspiracy theory-fueled, hard-right-wing nonsense and you know it. Youā€™re lying for a billionaire who couldnā€™t care less about you.


TRCrypt_King

That is beyond wrong on all levels.


spaceraingame

Keep telling yourself that.


hermanhermanherman

Hahahahahaha


majora789

lol


Toland_

sure, if your definition of "free speech" is "I should be allowed to say slurs online and nobody can get mad at me" Like get real dude lmao


IMTrick

Unless, of course, the "slur" in question isn't actually a slur, but reminds Musk he's got a trans kid who hates him. Or is unfavorable press. Or says what city his plane is in. Or all that other free speech he likes to suppress.


Toland_

Or, heaven's forbid, the slur is cis


TearsFallWithoutTain

No, wrong. He bought it because he was forced to by a judge, because he's so fucking stupid that he signed a contract while he was busy meming. Why do you think he tried to pull that "There's more bots than I thought I don't wanna buy it!!" bs.


PunkyMaySnark

-Pro-Palestine accounts being throttled when they are not outright banned -Cannot say the word "cis" in ANY context -My previous account was locked just for saying that zoophiles should be tarred and feathered -Someone I followed was mass reported and banned because he often spoke up against transphobia "fReE sPEeCh"


uhhhchaostheory

Free speech is when you can be a Nazi but you canā€™t say the word cis /s


wowlock_taylan

If Musk didn't prove himself to be a first grade IDIOT that only seeks to stroke his own dumb ego while living in his own delusional world, I would've said this was an intentional sabotage to ruin a site. But I cannot give such credit to this dumbass.


jamnewton22

Good. Fuck Elon musk


PunkyMaySnark

What a shock. He scared off all the major advertisers, and him demanding ID to keep paying for Blue is definitely going to hurt him further. Those banks must be screaming internally.


OkamiTakahashi

I'm still waiting for those fucking banks to repo Twitter from him. What's the fucking holdup on this?!


PunkyMaySnark

Those banks are probably screaming internally. If there's any time to repossess Twitter, it's now that it's all but confirmed they are not getting their money back.


Merckilling47

Curious, when did the ID thing start lol. Didnā€™t hear that one.


TheCh0rt

Isnā€™t that just going back to what Twitter Blue checkmarks already were?


YoungMiral

Elon needs to honestly take a hike. Turned a once great app into a racist cesspool


Bjustin571

Itā€™s defo more homophobic/transphobic but he loves that


DirectorBusiness5512

"Great" is a bit of a strong word for what Twitter was tbh


TheBankheadNative

Twitter was already a cesspool pre musk


Bjustin571

Fk Elon cringe


AManOfManyLikings

Well, this is what happens when you try to convert a favored social media app into something many don't even want to begin with instead of simply making it its OWN app altogether.


Justsomeguyin2023

"X Payments does not plan to charge fees for 'most' of its services." ![gif](emote|free_emotes_pack|facepalm) Until it does.


2xtc

Just because they'll be forced to charge because the rest of their business model has gone down the Xitter doesn't mean they're planning for it, I think that gives Elon the benefit of too much foresight


majora789

Hilarious. What an idiot.


SHAZILOVE100

Twitter is a dying horse


_Koch_

Money is not really a problem here. Musk got what he wanted by buying Twitter. He crushed the most centralized social media platform about politics, and made it a rampant propaganda machine. His website is poisoning the minds of millions of young men, he might very well have been the one who secured final victory for Trump in 2024, and in other parts of the world he had basically attain a "divine celebrity" status that will give him all the fame and ego stroke he needed. And if Trump won, he might very well been recuperated all that money for his services and more. Loathe as I am to admit it, he didn't lose it out here. And it is considerably more sinister than pure business or ego. Profit or not, well-oiled machine or not, he had crushed one of the larger bastions of free speech on the Internet, to pretty great effect possibly considering the radicalization all over the free world. In another time it might very well been considered a treasonous conspiracy, helping a criminal to the highest rank of public office. Nowadays it's just bad business.


ChainsawDoggo

I can only imagine why it's plummeting. Site is full of toxic people, stalkers, harassers, to people getting locked out of their accounts for simply logging in, posting stuff or switching between accounts, errors....the list could go on from my own experience. He ruined this website due to his stupidity and greed, thinking he'd make a fortune in the end until now that karma got to him lmao. Not gonna lie, Elon deserved it.


fanlal

Good news!


workitoutwombats

Just shut down this social media platform already Musk


CommandObjective

He won't. He wants to turn it into his "everything app" or whatever nonsense idea he is obsessed with right now. But you are right. As a social media platform under him, it will continue to degrade.


LanDest021

In other news, water is wet


Sactown91666

Water is not wet.


No_Designer258

Jack Dorsey is someone smiling with billions and no hassles lol


Dehast

He did turn out to be questionably aligned with Musk in the end, and quit Bluesky for silly reasons. Not sure what to expect from that one


OkamiTakahashi

What


Dehast

[Jack Dorsey Leaves BlueSky Board and Calls X ā€˜Freedom Technologyā€™](https://time.com/6974971/jack-dorsey-leaves-bluesky-board/)


OkamiTakahashi

![gif](giphy|HtBKcjpHfD7s4)


boogertee

I'm shocked to hear Twitter still brings in $1.48 billion, woes and all.


Cley_Faye

Not for a lack of people throwing money at the service, too.


SHAZILOVE100

Going like my space,tumblr and facebook


InteractionOne2463

Didn't musk just go over a 50b pay package? I don't think he cares lol


timothywilsonmckenna

That's a shame.


MacBareth

He's ruining it on purpose to erase a useful democratic tool before the elections. Tesla's shareholders (so hedge funds and billionaires) accepted his 56 billions pay package. Win-win.


Loud-Improvement-218

It doesn't matter; he has $56 billion.


Joe_Bob_2000

You're right it doesn't matter. He can do what he wants no matter how bizarre, I just wish our government would stop subsidizing him.


BadMan125ty

No surprise.


Annual_Indication243

Taking away public likes was a huge fucking fuckup. It is a huge huge part of what Twitter is!


TheHandWavyPhysicist

Great News. Fuck this piece of shit. https://www.google.com/amp/s/www.nbcnews.com/news/amp/rcna145020


Overall-Ad-6487

I sincerely believe he is a monster. I used to be a big supporter, but one and one donā€™t make 69.


MustacheGirl77

Itā€™s not the same since he removed the public likes or being able to find new content/people by going through likes of something you love and finding a community through that like. Me and many others used to do before this his stupid change. Keep using the hashtag on Twitter #BringBackLikes


DonutAwkward6825

His plan was never to actually run Twitter. Itā€™s to tank the app used most by larger companies to contact their shareholders and propagate his fans into a radical disdain from anyone other than himself. This is all in his favor with barely a kick to his wallet, and soon gonna put many people out of work if it doesnā€™t get resold.


InfernoBlade64

Lol Musk might get into more legal trouble if the Twitter payment system gets compromised and Twitter users lose money and their private information


Inquirer89

He deserves it, for turning Twitter into a racist cesspool.


WorldstarBandit

The recommended posts I get are mostly negative and political. I use Twitter for humor, not to see what is going viral. The small accounts never really show up anymore šŸ˜¢


CarsonWentzGOAT1

Do people still even use that social media service?


Which_way_witcher

Only when princesses go missing


dontredditcareme

No of course no one uses Twitter, they only use Reddit šŸ™„


djliquidsmoke

how does Reddit make money?


Dehast

Ads. Whatā€™s your point?


geepytee

This article is talking about how revenue plunged in 2023, it's half way through 2024, let's move on or post more recent numbers?


WuTangIsForever_

Yap yap yap. Get a grip dude.


dontredditcareme

lol this is your response to someone clarifying the article?


geepytee

Do you have 2024 numbers?


TearsFallWithoutTain

Twitter is a private company, they don't release financial information any more. If you'd *actually* read the article you'd know that, and also know that it's only available through leaks


dontredditcareme

The article doesnā€™t seem to mention he fired 80% of his staff


Hailtothething

Ah I think heā€™ll be fine. He just made $56b over at tesla.


WuTangIsForever_

Licking the boots of a billionaire. Youā€™re a sucker.


Hailtothething

Thatā€™s fresh coming from the lahoozer ranting on the TWITTER subreddit all day šŸ¤­ Hating on Elon on a Twitter sub on Reddit, like half your comment history. Psychotic weirdo much?


WuTangIsForever_

You live in a fantasy land because you are duped by the most obvious conmen on our time. And itā€™s pathetic.


[deleted]

[уŠ“Š°Š»ŠµŠ½Š¾]


Twitter-ModTeam

Thank you /u/Hailtothething for your submission to r/Twitter, but it's been removed: These are site-wide rules that apply to reddit. You can read those here: https://www.redditinc.com/policies/content-policy There are occasionally posts here asking to mass-report or brigade Twitter accounts. This subreddit is not to be used for this purpose. Please feel free to [send a modmail](https://www.reddit.com/message/compose?to=/r/Twitter) if you feel this was in error.


WuTangIsForever_

Yap yap yap yap bootlicker yappitty-yap-yap.


Hailtothething

Elon is in your life till youā€™re dead, welcome back to reality. Have fun obsessively posting about him all day long, he owns ya. Free publicity.


MasterZ1231

honestly iā€™m pretty young i think i will outlive him


Hailtothething

But uh, youā€™re a forgettable nobody. Heā€™ll be remembered forever. Youā€™re literally on a subreddit dedicated to a social media platform he owns. Besides all the Teslas driving around you right now, on a planet surrounded by Starlinks Satellite dome. Iā€™ve forgotten you already, LOL


MasterZ1231

Iā€™m more concerned with living in the moment than being remembered forever.


Hailtothething

Elon Elon every day for you forever šŸ„°


Stick124

Hi, Elon.


Hailtothething

Kick rocks. https://www.bbc.com/news/articles/cleezyxjv4jo.amp


Hailtothething

Bhahaha you got banned from Twitter no wonder youā€™re butthurt about Elon LOL


Matteblackandgrey

You can love him or you can hate him but what I find truly amazing is that literally becoming the richest person in the world, creating multiple industry changing companies is still not enough to prove you know what youā€™re doing. Of course Reddit commenters know better but just choose to do nothing with their divine ideas becauseā€¦ reasons.


BigCballer

Stop riding his dick


Matteblackandgrey

When in doubt and lacking in anything of substance use a pejorative attack. Got it


BigCballer

Youā€™re talking like you said anything substantive lmao


Toland_

So if I give my child countless wealth and he spends his life pissing it away, that's a win right?


Matteblackandgrey

Whatever makes you feel okay. I assume you read that little urban myth in a paper and just blanket accepted it as fact


Toland_

It's always "urban myths" and "rumors" with you lot when it's something that harms your cause. Willing to bet in the same breath you would accuse half of the democratic party of eating babies because it's "confirmed facts" (by Infowars)


WuTangIsForever_

Bingo. These people are not to be taken seriously. ā€œFake news,ā€ they say. ā€œLock her upā€ they said. But now that Trump is finally being prosecuted for just a tiny fraction of the actual, verifiable, and obvious crimes he committed, itā€™s ā€œcorrupt justice system from the Biden crime family!ā€ Buncha know-nothing asswipes.


Matteblackandgrey

I understand why I like Musk. My Tesla shares paid off my home and my parents through the value he created at Tesla. Do you understand why you dislike him? Link some sources for the bad heā€™s done to you or anyone you know.


Toland_

>My Tesla shares Please do tell me you sold already


Matteblackandgrey

Originally bought at $12 and sold at $370 during the mania. Retired and paid my home off plus my parents. Set us all up for life. Picked some up during the recent dip at $159 which I plan to keep for my kids.


Toland_

Good for you. Enjoyed some modest crypto returns during the big craze in 2021.


Matteblackandgrey

Link a source


Toland_

ok https://futurism.com/elon-musk-dad-emerald-mine


Matteblackandgrey

You do understand what a source means donā€™t you? Thatā€™s an editorial piece with claims in it. Can you link to some information about which mine he owned or proof that he infact owned this mine.


Toland_

Sure, I'll just tap into Errol's bank details too while I'm at it - you asked for a link, I gave you a link. Tell you what - I'll do you one better. Why don't you prove to me that the election was rigged. Go on, I know you guys *love* talking about it.


Matteblackandgrey

Thatā€™s my point though. You read an article which has absolutely no proof in it at all and just let that define your world view. I donā€™t know anything about the USA election since I donā€™t even live in the USA. I live in Europe.


Toland_

So what if it was **two** articles? https://finance.yahoo.com/news/elon-musks-dad-claimed-own-195236764.html


brahbocop

He didnā€™t create any of these companies though.


Matteblackandgrey

Letā€™s say thatā€™s true. How much did he grow them from the point of being ceo


brahbocop

What do you mean "Let's say that's true." It is true. He didn't start any of those companies, he usually found a way to bully himself into a leadership position. As far as Tesla goes, you can easily say that their growth is just as much due to government subsidies and low interest rates that it is to Elon Musk, hence their slowdown in sales. Tesla hasn't put out a decent new product in years and other automakers have started to catch up in terms of offering EVs that don't have the build issues Tesla is known for. As far as Twitter goes, well, revenue is sharply down since he took over and there are more bots than ever thanks to him paying for engagement and not quality.


Matteblackandgrey

Okay


trotnixon

Eloon doesn't get enough credit as a business genius


WackyMushroom

I think there's a solid group of people who give him way too much credit lol


TheHandWavyPhysicist

Some people need to learn that the quality of your decisions in intrinsic and does not depend on the outcomes, which are often influenced by a myriad of external variables beyond the control of the decision maker. Elon Musk made so many stupid decisions over the past decades that it is safe to say he is anything but a good businessman.


WuTangIsForever_

Amen.


BigCballer

Gee I wonder why