My caricature of Billionaire Social Media Despoiler Elon Musk is in response to an incisive article in The Atlantic about the ruination of once-respectable-and-useful Twitter.
Some excellent excerpts include:
“I used to go on Twitter, laugh at the posts that flowed across my feed, and think about how I was watching the logic of the free market at work. The idea that the most hilarious posts were generally getting the most likes and retweets—even though I knew there were algorithms at play—struck me as democratic and sort of nice. Now the logic of the market has given way to the logic of Musk.”
And:
“By many measures, X has shrunk in influence and value under Musk’s leadership. The site is hemorrhaging users: Although Musk has tried hard to increase engagement on his own tweets, The Washington Post reported that 30 percent fewer people are now actively posting to the site. Musk bought the company—which had been public since 2013—for $44 billion. According to The New York Times, stock grants that the company handed out on Monday indicated that it is worth closer to $19 billion now. Musk himself said a few months ago that ad revenue was down 50 percent.”
There is a paywall to the article. But plenty of other sources cite Musks utter failure to maintain all that was good about the now hollowed-out platform.
Fortune Magazine weighs in --- Twitter value loses ground by 84% under Musk's leadership.
Per Fortune, Twitter's revenue has collapsed by approximately 84% since Elon's takeover.https://t.co/TmjMb4cy1h
— Roshan Rinaldi (@Roshan_Rinaldi) September 16, 2024
Is Musk a scam?
Alex Falcone
"Elon Musk. Is it a scam? Yep." pic.twitter.com/4LaBNRJxcQ
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