Elon Musk is one of those people who make the decision they make will always have, for some reason, thousands of people behind them applauding. Whatever the decision, literally. Even when he decided that for a few days we could only see a very limited number of tweets, there were people on Twitter praising him as if he had just discovered the cure for cancer. But his supposedly masterful moves seem like nothing more than wasted paper after all: It’s only been half a year since he took control, and by the looks of it, the company is bordering on bankruptcy. Magnificent play, sir.
Failon Musk
Any advisor from anywhere in the world would have advised Elon Musk not to spend $40 billion to buy a declining social media platform that already owed $13 billion to different investment funds. However, Musk decided to open his wallet and show off, convinced that with a couple of tricks, he could turn it into a profitable company. Spoiler: It goes wrong.
The aggressive campaign to encourage users to subscribe to Twitter Blue, supposedly offering premium features, has backfired, leading these supposed premium users to be blocked by the rest. It hasn’t worked as expected, and brands have decided to jump off this runaway train as soon as the manager removed the verification and made it a paid feature, rendering it meaningless.
Basically, from what Musk himself has explained, advertising revenues have dropped by half since he came to power and he is aware that he needs to be in positive numbers before considering the next move. The problem is that it is a vicious circle: his decisions are not accepted either by brands or users and his regime is getting weaker by the day. What’s more: on top of its debts it now faces $500 million in lawsuits from the 6,000 people it kicked to the curb in November. Genius. Entrepeneur. Master.
To all this we must add that, although Musk says otherwise, there are 18% less active users, and his anti-woke attitude (he recently said he would not allow the word “cisgender” but “nigger”) does not invite to continue betting on the bird’s network. But there’s more! Musk’s next attempt to get people on Twitter Blue is to pay them to post, which is going to lead to two things. First, to tweets with hate messages to get more visibility and, therefore, more money. And second, to the coffers getting emptier and emptier.
How long before Musk gets tired of his little toy sinking and takes it for granted that he’s lost 44 billion dollars? Time (and money) is running out, and he is slowly running out of loyal followers. It looks bad for our supposed leader.
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