Elon Musk is going to talk to the people who are responsible for the boycott of X, the social media platform he bought for $44 billion in 2022.
This decision comes after a relevant meeting in Congress led by Ben Shapiro, which showed how tactics are used to change the flow of ad capital.
Musk, one of the greatest financiers in the world and a regular target of the mainstream media, has spoken out strongly in support of free speech on X. His dedication to this idea has led to a rise in citizen journalism, and many people trust reports about X more than they trust news from traditional media sources.
Elon Musk’s Advertising Challenges
Beyond the fact that the platform depends on advertising income has caused a lot of problems. Many advertisers, including renowned like Coca-Cola, Microsoft, and Airbnb, have pulled their ads since Musk took over. As of November 2023, this had cost the company a remarkable $75 million in ad income.
To keep the platform going, Musk has made a number of major adjustments. He let go of a lot of people to cut down on costs and started a subscription plan to get people to directly support the platform. Even though there was some reaction at first, X has done very well without ads.
Musk is also worried about how platforms like X are being censored to support traditional media, and he has hinted that the people responsible might be sued. This feeling fits with how X is slowly becoming a “everything app,” going beyond its original purpose as a micro-messaging app.
One important part of this change is the addition of X payments, a feature that will let users do business straight on the platform. Musk’s company already has rights in more than 20 U.S. states, and it has recently added Hawaii and other offshore areas. Even though no one knows when X payments will be available, work on them is moving quickly forward.
