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Fewer people are using Elon Musk’s X as the platform struggles to attract and keep users, according to analysts (www.nbcnews.com)

submitted 8 months ago by Stopthatgirl7@lemmy.world to c/technology@lemmy.world

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Data from two research firms and figures published by Musk and X suggest a deteriorating situation for X by some metrics. Musk has marketed it as the world’s “town square,” but in number of users it continues to lag far behind social media rivals that focus on video, such as Instagram and TikTok.

In February, X had 27 million daily active users of its mobile app in the U.S., down 18% from a year earlier, according to Sensor Tower, a market intelligence firm based in San Francisco. The U.S. user base has been flat or down every month since November 2022, the first full month of Musk’s owning the app, and in total it’s down 23% since then, Sensor Tower said.

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[–] dragontamer@lemmy.world 3 points 8 months ago* (last edited 8 months ago)

Reporting on “X” is what’s keeping it alive, IMHO.

Nah. "X" had $Billions in cash from the buyout deal + loans. X will simply not fall until all that cash dries up, and they reach the end of their loans. Even then, Elon Musk can just command Tesla to buy a whole bunch of Twitter-advertisements to transfer money to Twitter/X and keep the party alive a bit longer.

I don't know how long it will last. But Elon Musk was over $200 Billion in assets when he bought the company. He's lost a ton of that money, but Elon Musk still has a long way to go before he runs out of options. It does seem like Musk's wealth is collapsing before our eyes however (their big bet on China / Gigafactory Shanghai looks like its about to go bad this quarter), but I don't expect X to fall until after Elon Musk runs out of money.

There's a lot of money that needs to be deflated / lost before this whole thing collapses. But like gravity, it should be inevitable. No one can lie, steal, and cheat money forever and get away with it IMO, eventually people catch on. But it can last for more decades than people expect.