Elon Musk, the renowned entrepreneur, and CEO of X Corporations, formerly known as Twitter, has revealed plans to rebrand the social media giant and potentially introduce a monthly fee for users. Musk made these revelations during a conversation with Israeli Prime Minister Benjamin Netanyahu.
The primary motive behind this significant shift is to combat the growing issue of fake accounts, commonly referred to as bots, plaguing the platform. Although Musk did not specify the exact amount of the proposed fee or the benefits it would provide to users, according to a CNBC report.
During his conversation with Netanyahu, Musk disclosed some striking statistics about X. The platform now boasts an astonishing 550 million monthly users who collectively generate between 100 to 200 million posts each day. However, Musk refrained from clarifying how many of these users are genuine individuals, as opposed to bots, and did not provide a direct comparison to Twitter’s metrics before his takeover.
While the primary agenda of Musk’s discussion with Netanyahu was the regulation of advanced technologies, including artificial intelligence, he took the opportunity to address allegations that X permits hate speech and anti-Semitic content on its platform. This issue has drawn criticism from civil rights groups in recent times.
In a surprising twist, Musk hinted at the possibility of suing the Anti-Defamation League (ADL), a prominent Jewish organization, for negatively impacting X’s revenue due to their criticism. As of now, no formal lawsuit has been filed against the ADL by Musk or X Corp, and the organization has refrained from immediate comment on the matter.
Before his meeting with Netanyahu, Musk stirred controversy by accusing George Soros’ foundation, a well-known philanthropist, of wanting to harm Western civilization. Soros has been the subject of unfounded conspiracy theories in the past.
Musk, known for his outspoken presence on social media, has made divisive comments about various groups and individuals. However, during his discussion with Netanyahu, he asserted his stance against attacking any group and emphasized the significance of unity for humanity’s space exploration endeavors.
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Following his acquisition of Twitter for a staggering $44 billion, Musk implemented significant changes. He permitted previously banned accounts, including that of former President Donald Trump, to return. Additionally, he abolished the “blue check” verification system for identifying famous accounts.
Now, in a bid to deter the use of bots, Musk has introduced a new system where users can gain a blue badge next to their name and increased post visibility by paying a fee. Those who opt not to pay may experience reduced post visibility.
Furthermore, it has been revealed that X is actively pursuing licenses to become a money transmitter in the United States and has already received approval in eight states, according to publicly available records.
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