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What is going on with Twitter since Elon Musk took over?

Musk's corporate game, and what will happen to Twitter next...

By Raja Ezra

After Elon Musk, Tesla mogul (Tesla) and the owner of SpaceX (SpaceX) took over the 'Twitter' (Twitter) in October 2022, the platform brand faces a period of uncertainty. The question, how does Elon's acquisition affected Twitter so far and moving forward?

Recently, on July 24, 2023, Elon Musk has changed the app's logo from 'Blue Bird' to 'X' and also uses the domain 'X.com' as a link twitter website. As the current Twitter CEO Linda Yaccarino said, “X is a futuristic space where people can interact without boundaries. We will have audio, video, text, banking transactions. And will open up a space for people around the world to sell things, share ideas, open opportunities for each other.” She also added that this new brand will connect us all around. And this is just the beginning.

Many people can guess the consequences of Elon Musk's actions post acquisition of Twitter. According to research by PEW Research, the average daily post count dropped by 25% after Musk took over the platform, and about a quarter of U.S. adult users agree that "there's a 25% drop in their daily posting average after Musk took over the platform." They have indicated that they will be most probably stop using the app in the near future.

On Saturday, July 15, Elon revealed through his personal Twitter account that “With about 50% less Twitter ad revenue and combined with other debts, as a result, the company currently has negative cash flow” the CNN news agency further reported. The drop is reported as high as 59% Year on Year. That is shocking.

If you think this situation is bad, think again. On top of the internal turmoil, Twitter also faces big pressure from the other industry player. Tech giant, Meta has launched an application 'Threads' whose functionality is not much different from Twitter. This can be understood as a direct threat to Twitter. Even more frightening is that 'Threads' app download has surpassed 70 million active users within days of its launch, as reported by BBC News. It was understood that Twitter is considering a lawsuit against the company that owns Metaverse.

However, US copyright law does not protect the ideas of any individual or business. Therefore, winning the case is highly unlikely, if Twitter unable to provide evidences that the defendant company has intellectual property infringement / copyright issues.

Vox has recently interviewed former and current Twitter employees. Vox summarised that based on the information, most of the employees agree that the platform survives only because of Twitter's legacy - the system and reputation that has been accumulated over 17 years. Fox predicted whether Twitter brand will survive in the long run? The answer - it might be difficult. Despite many prominent influencers and celebrities are on Twitter, things might change in the future as the competitors come up with innovative platform e.g. video content like Tik Tok

From now on, you will have to keep an eye on whether Elon Musk will make any pertinent changes on X. Will his platform survive in the future? Will Elon regain his reputation? Or will this become the last moment of the blue bird?

Time will tell.


The views are exclusively writer's own and do not necessarily represent the views of GC.

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