The Financial Times predicts that social networking site X (formerly Twitter), owned by American billionaire Elon Musk, could go bankrupt in 2024.
“Will website .
The authors of the article argued that after recent emotional statements to advertisers, Musk may still recklessly believe he will remain at the top even after the website goes bankrupt.
“Musk’s battle for control of the fallen X will be an exciting continuation of Twitter’s dramatic takeover,” the release reads.
Advertisers are moving away from X
After Elon Musk took over the social network Twitter, the way content is moderated on the platform has changed. This has led to an increase in posts containing hate speech and disinformation. The site’s administrators were accused of making X the main platform for spreading the ideas of Palestinian terrorists and their supporters.
In November, Elon Musk accused Jewish activists of attacking his company. According to the billionaire, the Anti-Defamation League (an organization that fights anti-Semitism) is putting pressure on advertisers, which has led to a decline in the revenue of his social network. Musk later publicly criticized advertisers who refused to continue working with the platform he acquired. The billionaire believes a discrediting campaign has been launched against him.
Many companies, including Apple, Disney, Comcast, Lionsgate and Paramount Global, etc., have stopped buying ads on Platform
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
