Elon Musk’s Birthday Approaches Amidst Troubling News for Twitter
The bad numbers keep coming
As Elon Musk’s birthday approaches, the recent acquisition of Twitter, now known as X, seems to be bringing him more bad news. Linda Yaccarino, the CEO appointed by Musk, revealed some concerning statistics about the platform’s audience during an interview with CNBC at the Code 2023 conference.
According to Yaccarino, X currently has 225 million daily active users. This represents a significant decline of 11.6% since Musk purchased the platform, where the number was reported to be 254.5 million. However, X quickly addressed this misinformation and clarified that the actual total is 245 million daily active users. Despite this adjustment, the decline in the number of daily active users remains at approximately 3.7%. These numbers are far from ideal for Musk, who envisioned X as an all-in-one platform.
In an attempt to alleviate concerns, Yaccarino emphasized another statistic – X has 550 million active users per month. This shows a slight improvement compared to the figure announced by Musk in July of last year, which was 541 million. However, without accurate statistical data and relying on personal observations, one may notice that many internet users now seem to be disengaged from the platform.
X is currently facing challenges not only from a decline in user numbers but also from emerging competitors. One such competitor is Threads, a meta-service that is yet to be available in the European Union. These factors contribute to X’s underwhelming performance, falling short of Musk’s expectations.
In a response to an internet user last July, Musk expressed the need to achieve positive cash flow before pursuing any other endeavors. He also mentioned the negative cash flow resulting from a 50% drop in advertising revenue and significant debt. These financial obstacles further complicate the situation for X.
The coming months will be crucial in determining whether X can turn the tides and reverse its current decline. Only time will tell if the platform can regain its momentum and meet the billionaire’s expectations.