The Decline of Twitter
For a year now, Twitter users have had a lot to complain about. From now on, the social network belongs to Elon Musk and the businessman has made a number of controversial decisions. The bluebird app has changed dramatically over the past 12 months, for better but especially for worse. Today, Twitter is dead and is now called X. Users are so frustrated that they are eagerly looking for a replacement social network that they loved so much. After Mastodon and Threads, internet users seem to be targeting Bluesky to try and escape the tyranny of Elon Musk. Thus, a year after the acquisition of Twitter, the results were disastrous. While Elon Musk acquired the social network for the modest sum of $44 billion (yes, you read that right), the social network has lost more than half its value in the last 12 months. It is a symbol of the bad management of a capricious businessman.
Cold Shower for Elon Musk
Today, the app is no longer listed on the stock exchange, making it very difficult to get an idea of its value. We suspected that the numbers were not very high, but no one realized how serious the situation was. X (formerly Twitter) has lost 55% of its value over the past year, according to Fortune. Away from the $44 billion Elon Musk spent to acquire it, the social network will now cost $19 billion. In any case, this is exactly what the businessman’s proposed scheme of shared remuneration for employees (well, those who remain) suggests. Between waves of layoffs that caused technical problems in the application, an increase in the number of fraudulent accounts and other accounts spreading fake news, and increasing apparent fatigue among users, X (formerly Twitter) has definitely seen much better days. To compensate for this large loss in value, Elon Musk intends to alarm the die-hards by increasing his paid offer. From now on, X (formerly Twitter) users can sign up for a basic subscription, a Premium plan, and a Premium+ offering to enjoy the social network. This isn’t the first time alarming numbers have cast a shadow over the network’s future. Already this summer, Elon Musk has announced a drop in advertising revenue, as well as “a lot of debt.”
