- Twitter misplaced practically half of its promoting income after Elon Musk purchased the corporate.
- Advertisers have reportedly opposed Musk’s method to content material moderation.
- Binance CEO Changpeng Zhao shared the thought of introducing cryptocurrencies on Twitter.
Twitter’s advert income practically halved after tech billionaire Elon Musk purchased the corporate for $44 billion in October. The BBC reviews that Musk mentioned in an interview that the corporate’s gross sales didn’t rise as a lot as had been hoped.
Earlier final month, Musk capped the variety of tweets customers can view every day. “We have now to cope with excessive ranges of information assortment and system manipulation,” he mentioned. After the announcement, many promoting corporations stopped working advertisements on Twitter. “When a consumer visits the platform, they see advertisements. The extra time they spend on Twitter, the extra advertisements they see. wrote.
Musk additionally introduced that Twitter would take a “looser method to content material moderation,” making it a spot the place “a variety of beliefs might be mentioned in a wholesome approach,” at the least in line with Musk. backside. Binance CEO Zhao Changpeng (CZ) endorsed Musk, saying that “(Twitter) is an efficient place to assist free speech.”
However the BBC says advertisers don’t desire their advertisements to seem subsequent to racist or extremist content material. As such, Twitter’s major supply of revenue additionally influences how a lot “free speech” is allowed on the platform.
The Binance CEO has spoken out about his assist for Musk and Twitter, and mentioned he needs to assist Twitter by “embracing cryptocurrencies higher on the platform.” In accordance with Zhao, there are numerous methods to implement cryptocurrency on Twitter, together with “charging for blue ticks, charging for feedback, issuing NFTs per tweet, issuing future tokens, and so on.”
Again in Could, Musk took to Twitter to speak concerning the introduction of cryptocurrencies. After asserting his Twitter Blue, Twitter’s month-to-month paid subscription plan with extra options, he answered individuals’s inquiries, “Possibly there’s additionally an choice to pay with Doge?” I prompt.
A fan of DOGE, the tech mogul has supported Dogecoin on his Twitter account and in interviews. Again in April 2019, he tweeted: “Dogecoin could be my favourite cryptocurrency.