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Elon Musk Lament Massive Revenue Drop as Activists Call For Twitter Boycott

Elon Musk has lamented a massive drop in revenue which he put on activist groups pressurising advertisers to boycott Twitter platform. 

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Amid content adjustment controversy and layoff, Twitter’s new owner, Elon Musk has lamented a massive drop in revenue which he put on activist groups pressurising advertisers to boycott Twitter platform. 

Musk tweeted that though nothing has changed with content moderation since he purchased the social media platform, activist groups are however determined to keep advertisers off Twitter.

Already, General Motors, Ford, General Mills, and Volkswagen are some of the top global companies that have suspended advertisements on the platform while a handful number of brands stated they are given close eyes to the new policies that will accompany the change of ownership. 

Activists and civil rights groups are concerned that Elon Musk will open the platform to hate speech and misinformation while he would reinstate Twitter accounts that have been banned for such reasons. 

“Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists. Extremely messed up! They’re trying to destroy free speech in America,” he tweeted on Friday.

It would be recalled that the world’s richest man, Elon Musk completed the acquisition of Twitter in late October in a deal worth $44 billion. Immediately afterward, he sacked top executive members of the company which include the CEO and CFO.

Investors King also reported that Musk had gone ahead to lay off about half of Twitter’s workforce in a bid to cut down costs and raise profitability. 

Early Friday, about 70 percent of the company’s workforce in India was sacked while a significant number of employees were also sacked at the company’s African office situated in Ghana. 

The massive layoff is part of Musk’s plan to increase Twitter’s revenue from $5 billion in 2021 to more than $26 billion in 2028 as he claimed. 

However, the massive drop in revenue and a potential boycott ahead obviously shows that Elon Musk is not having it easy managing the microblogging platform while his lofty dream of raising revenue might be threatened by an alternative social media platform ‘Bluesky’ created by former Twitter CEO, Jack Dorsey.

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Elon Musk Envisions X as the Future of Your Financial Life

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Tech visionary Elon Musk unveiled his vision for X, aiming to transform it into the epicenter of people’s financial worlds by the end of 2024.

Musk’s plan transcends mere payment solutions, targeting nothing short of the complete financial ecosystem, including money and securities. “You won’t need a bank account,” he affirmed.

X, led by CEO Linda Yaccarino, sees this as an ambitious opportunity that could reshape the financial landscape as we know it.

Musk expressed his unwavering commitment to the cause, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.”

This ambition traces back to Musk’s dot-com-era online bank, X.com, which later evolved into PayPal. Musk aims to take a page from his earlier playbook, hoping to outshine PayPal with a more comprehensive approach.

The platform’s offerings are set to include high-yield money market accounts, debit cards, checks, and loan services. Musk’s endgame? An ecosystem that empowers users to send money worldwide instantly and in real-time.

However, this transformation is not without its challenges. Elon Musk must convince users of the necessity of such an all-encompassing platform while gaining their trust with their financial lives.

The vision of X as an “everything app” resonates with the rise of super apps like WeChat in China, which provide users with access to a myriad of services, from shopping to transportation.

As X positions itself to revolutionize the financial industry, Musk’s audacious endeavor promises to change the way we handle money, potentially eliminating the need for traditional banking as we know it.

The world watches with bated breath to see if Musk’s bold vision will become a reality.

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WhatsApp Introduces Dual Account Feature, Enabling Users to Sign Into Two Accounts

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WhatsApp has introduced a groundbreaking innovation that promises to redefine the user experience.

This new feature allows individuals to simultaneously manage two WhatsApp accounts on a single device, eliminating the need for dual phones.

The eagerly anticipated announcement was made by Mark Zuckerberg, Facebook’s CEO, who assured Android users that this feature will soon grace their screens.

Gone are the days of juggling multiple WhatsApp accounts, a task that often required carrying two separate devices. While tech giants like Xiaomi and Oppo had previously introduced app cloning features for multiple WhatsApp instances, WhatsApp’s integrated approach sets a new standard for seamlessness.

This innovation is poised to be a game-changer for users who navigate both personal and professional realms on this ubiquitous messaging platform.

Cumbersome login-and-logout routines and the perpetual concern of messaging from the wrong account will soon be a thing of the past, replaced by a newfound ease of multitasking.

Activating this feature is a straightforward process. Users need only navigate to the ‘Settings’ menu and select ‘Add Account.’ During setup, a second phone with a SIM card or a device supporting eSIM technology is required to unlock the full potential of multi-SIM functionality.

WhatsApp ensures that each account can have its own customized notification and privacy settings, preserving data integrity and personalization.

In addition to the dual account feature, WhatsApp recently introduced passkey support for Android, enhancing security by providing an alternative to SMS-based two-factor authentication.

This latest advancement underscores WhatsApp’s dedication to user convenience, connectivity, and digital identity security, setting the stage for a more organized and efficient way of communication.

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X Takes on Bots: New Zealand and Philippines Users Pay $1 Subscription

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X, formerly known as Twitter, has embarked on a bold initiative to combat the growing menace of bots and spammers on its platform.

The company, now owned by Elon Musk, recently rolled out a new subscription plan in New Zealand and the Philippines, requiring new users to pay a mere US$1 per year for access to essential functions like tweeting, replying, retweeting, and liking.

The move, dubbed ‘Not A Bot,’ is designed to fortify X’s ongoing efforts to curb spam, manipulation, and bot activity. New users in these countries must first verify their phone numbers and then pay the nominal fee to post, like, reply, repost, quote posts, and bookmark.

Those who opt out of subscribing will be restricted to “read-only” actions, such as reading posts, watching videos, and following accounts.

Elon Musk, who has been at the helm of X, explained the rationale behind this strategy. Bots, he noted, are inexpensive to set up, costing only a fraction of a penny.

By imposing a nominal fee, X aims to deter bot operators and make it more challenging for them to create multiple accounts.

This move is a part of Musk’s broader vision for transforming X into an all-encompassing app, including payment services.

Musk has been exploring alternative revenue sources as ad revenue declined by 60% due to advertiser boycotts and concerns over content management.

As the ‘Not A Bot’ program unfolds, it holds the potential to revolutionize the fight against bots and spammers, making social media a safer and more authentic space for users. X is eager to assess the program’s effectiveness and may consider expanding it to all users in the future.

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