It's honestly impressive to me how one of the richest bourgeois fucks on Earth can destroy an app so big as Twitter... what happened to "too big to fail"?
It's honestly impressive to me how one of the richest bourgeois fucks on Earth can destroy an app so big as Twitter... what happened to "too big to fail"?
IIRC twitter never really made much money, and was sustained by VCs, so it didn't actually need to make much money from new revenue streams to stay affloat.
As for its continued existence, it's a combination of inertia and a lack of competition. It's easier to just keep using twitter than to move to a new site, where all the people you follow might not go. A lot of people don't like Threads because of the Zucc, while Bluesky is still in early access, and Mastodon was never going to be a serious competitor because it requires too much effort. Eventually, though, individual users reach a tipping point and either leave or just stop posting, and I expect this will lead to a long, slow decline.
Somebody posted a paper here a couple days ago. Basically, none of these VC-funded companies ever need to make money. That is not their purpose. As long as the VCs are able to sell their stake for a profit, it doesn't matter what happens to the company. USUALLY it isn't one of the richest men on Earth who individually gets left holding the bag though.
That's what's so funny about the whole situation. In a system stacked so hard in his favor my man still managed to fuck it up.