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That will cause a non-zero number of companies to simply delete their accounts and abandon the platform. They'll emphasize other platforms like IG, Tiktok, and

That will cause a non-zero number of companies to simply delete their accounts and abandon the platform. They'll emphasize other platforms like IG, Tiktok, and Threads. By removing their gold verification checkmark, it will reduce X's value over the long run because customers will no longer automatically think that their favorite companies have an official Twitter account. Trust from advertisers and users will also be eroded in the long term because it will be easier to spoof official accounts. Basically, this seems like a "OMG we need cash now or Elon has to sell more Tesla shares" move more so than a smart one.

3cats-in-a-coat 3y ago
I honestly wonder how this ends. He has co-investors. On one hand we can argue if they had a clue, they wouldn't invest in Twitter in the first place. But surely they see this is ending badly and Elon is at the center of it. Will they just sit and wait, or make a move?
- senttoschool 3y ago
  Elon is the controlling owner. There's nothing much the investors can do. They took the risk when they invested with Elon.
  - 3cats-in-a-coat 3y ago
    This makes the Saudis look weak. At some point, it won't be just for the money.
danso 3y ago
For most prominent companies, it'll make sense to pay the $1,000/month minimum to keep their "official" accounts, and to play the waiting game. That is, keep a nominal presence on "X" until it shuts down or becomes effectively irrelevant (e.g. when a critical mass of users have quit and left for Threads).
- senttoschool 3y ago
  Yea, the big brands will do it. But the platform will suffer. Spoofs will become common which leads to a loss of trust. Then more people and companies will be turned off and more companies will stop paying the minimum to keep the check mark. It could become a death spiral.
  - danso 3y ago
    Right, and when the death spiral is obvious, that’s the time to bail out. Until then, $1000/month is insurance against an Eli Lilly scenario

3cats-in-a-coat 3y ago

I honestly wonder how this ends. He has co-investors. On one hand we can argue if they had a clue, they wouldn't invest in Twitter in the first place. But surely they see this is ending badly and Elon is at the center of it. Will they just sit and wait, or make a move?

senttoschool 3y ago
Elon is the controlling owner. There's nothing much the investors can do. They took the risk when they invested with Elon.
- 3cats-in-a-coat 3y ago
  This makes the Saudis look weak. At some point, it won't be just for the money.

danso 3y ago

For most prominent companies, it'll make sense to pay the $1,000/month minimum to keep their "official" accounts, and to play the waiting game. That is, keep a nominal presence on "X" until it shuts down or becomes effectively irrelevant (e.g. when a critical mass of users have quit and left for Threads).

senttoschool 3y ago
Yea, the big brands will do it. But the platform will suffer. Spoofs will become common which leads to a loss of trust. Then more people and companies will be turned off and more companies will stop paying the minimum to keep the check mark. It could become a death spiral.
- danso 3y ago
  Right, and when the death spiral is obvious, that’s the time to bail out. Until then, $1000/month is insurance against an Eli Lilly scenario