Earlier in the year, the social media platform X, previously known as Twitter, introduced a paid service experiment for new users in the Philippines and New Zealand. Under this trial, new users can tweet, retweet, like posts, and reply to tweets if they pay $1 per year. If not paid, they can view posts, watch videos, and follow accounts. Elon Musk shared insights about this experiment during a company meeting, stating that the goal is to understand the impact of a small fee of $1 per year, emphasizing it’s only 0.3 cents a day. He addressed concerns about affordability by highlighting that most individuals with internet access own electronic devices, and the cost is reasonable for those connected to the online world.
Musk pointed out the experiment’s intention to minimize spam, platform manipulation, and bot activity, mentioning that the decision faced opposition mostly from fraudsters who resist being restricted. Drawing on his past experiences, especially with Paypal, Musk explained that these entities often show the most resistance when faced with new restrictions or guidelines.
He also emphasized the cautious approach taken by X in rolling out the paid service in the Philippines and New Zealand, emphasizing the need to assess its progress and make any required adjustments before expanding the experiment to other regions. Additionally, internal reports suggest that the stock grants distributed by X to its employees currently hold an estimated value of approximately $19 billion, showing a significant decline from the $44 billion paid by Musk to acquire the company a year ago.
