Elon is going to raid the sofas for spare change. This is going to tank the platform's appeal to a large percentage of its users and he will still be short a few billion required to make Twitter/X break even.
Social media companies in general are not profitable, because they rely on ads, whose profits are subject to decline as more privacy features are introduced into operating systems - I remember how iOS 14 data collection permissions wiped out $10 billion from Meta's revenue for example.
Shit things are happening in social media, they are getting so serious about profit that they are giving permission to promote scams on their platform. Twitter (X) is taking very aggressive decisions now that they don't care about the safety of their users. It is now easier for crypto scammers to reach out to crypto users, as a large portion of crypto users use Twitter(X). Social media companies in general are not profitable, because they rely on ads, whose profits are subject to decline as more privacy features are introduced into operating systems - I remember how iOS 14 data collection permissions wiped out $10 billion from Meta's revenue for example.
A little while ago I saw another advertisement using the name of a popular crypto project scammers trying to get access to the wallets of crypto users.
