Elon Musk has seemingly acknowledged the potential failure of his $44 billion acquisition of X, formerly Twitter. In a recent statement on X, Musk admitted that there is a possibility that X “may fail.”
He expressed the reality that currently, there are no standout “social networks” and acknowledged the doubts others have expressed about the venture’s success.
Musk emphasized that despite these challenges, the company is determined to make a difference.
Meta, in competition with X, unveiled its Threads on July 5, which reportedly garnered over 100 million signups in a short period.
However, within six weeks, the platform’s daily active user count dropped from a peak of 44 million post-Threads launch to approximately 10 million, according to Similarweb data.
Despite Musk’s efforts to eliminate bots and transform the platform into a “super-app,” indications of a full recovery remain elusive.
A recent investigation by Mashable’s Matt Binder discovered that about 42% of his X followers had no followers themselves, raising suspicions of potential bot activity.
