Money

Elon Musk predicts X may fail “as many predict”

Published

4 months ago

August 21, 2023

ticker NEWS

X, formerly known as Twitter, is facing uncertain times as Elon Musk, the platform’s owner, hinted at the possibility of its failure.

In a statement, Musk admitted that the rebranded X “may fail,” but emphasized the company’s commitment to striving for success.

He also lamented the absence of any “great social networks” in the current landscape.

The rebranding of Twitter as X marked a significant shift in the platform’s identity. While the transition initially garnered attention and saw Meta launch a rival platform named Threads on July 5, with over 100 million signups reported by Time magazine, recent data from Similarweb indicates a decline in X’s daily active user rate.

After Threads’ launch, the platform’s user count peaked at 44 million but has since fallen to around 10 million.

Combatting bots

Musk’s efforts to combat bots on the platform and transform it into a “super-app” have faced challenges. Notably, a report by Matt Binder of Mashable revealed that approximately 42% of Musk’s followers on X had no followers themselves, suggesting the presence of bots.

This development comes in the wake of Musk’s controversial decision to remove the blocking feature from the platform. Activist Monica Lewinsky criticized this move, urging Musk and CEO Linda Yaccarino to reconsider, citing the block feature’s significance in online safety.

While Musk’s takeover of X initially generated immense interest and excitement, the recent uncertainties and challenges underscore the dynamic nature of social media platforms and the complexities involved in reshaping and redefining their roles in the digital age.

In May, Fidelity devalued its stake in the company when it was still known as Twitter, valuing it at approximately $15 billion—just a third of Musk’s acquisition price, as reported by The Wall Street Journal. X has not issued an immediate response to inquiries made by Insider outside regular working hours.

Leaders

Diversifying and enhancing payment methods

Published

23 hours ago

December 8, 2023

ticker NEWS

American Express reveals Australian homeowner bill payment insights

In response to the growing trend of card and tap-and-go payments, organisations are adapting their systems to accommodate diverse payment options.

American Express recently conducted research shedding light on homeowner sentiments towards local councils, with a focus on Australian attitudes and behaviours related to bill payments.

Vice President and General Manager of Global merchant services at American Express, Robert Tedesco, provides his insights.

Leaders

Explosive growth and dominance of the audio industry

Published

1 day ago

December 8, 2023

ticker NEWS

Global radio market hits staggering $143 billion valuation, cementing audio industry’s dominance

The audio industry continues to assert itself as a formidable force, with the 2023 global radio market reaching a substantial value of $143 billion.

The podcast market has surged to an impressive worth of $18.52 billion, showcasing a compound annual growth rate of 27.6%.

Tony Simmons, CEO and founder of Sonnant, discusses how the audio industry can be made even better.

Presented by VentureCrowd – To find out more about Conscious Investing, head to www.venturecrowd.com.au

Money

Nick Kyrgios shocks fans with surprise OnlyFans announcement

Published

1 day ago

December 8, 2023

ticker NEWS

Tennis sensation Nick Kyrgios sent shockwaves through the sports and entertainment world today as he revealed a surprising career move.

The Australian athlete, known for his fiery on-court antics and charismatic personality, has announced his entry into the world of OnlyFans, a platform typically associated with adult content creators.

In an unexpected turn of events, Kyrgios took to social media to share the news with his followers. He stated, “I’ve always enjoyed pushing boundaries and breaking the mold. I’m excited to announce that I’ll be joining OnlyFans to share exclusive content and connect with my fans in a new way.”

The announcement has left fans and pundits alike wondering what kind of content Kyrgios will be sharing on the platform.

The decision has sparked a debate about the intersection of sports and social media, as well as the evolving landscape of content creation.

Some fans are eagerly anticipating behind-the-scenes glimpses of Kyrgios’s life, while others are questioning the potential impact on his professional tennis career.