Jack Dorsey has emphasized that the action taken by Elon Musk on X is essential in the pursuit of free speech.
In an extensive interview with pirate telegramThe man, who co-founded Twitter, supported Musk’s decision to drop high-profile advertisers and drastically cut the workforce.
Shares Dorsey’s perspective Tesla and SpaceX owners to make the Bastion of Freedom available online, but to achieve this, it had to abandon its existing revenue model. With the new focus on customers rather than mainstream, corporate advertising, X has had to take a step back to take a new direction. We are currently seeing this new path forward in real time.
According to Dorsey, brand advertising was Twitter’s main revenue stream, a “cardinal, grave sin” that reduced the app’s moderation to corporate influence, effectively funding the social media platform.
“And when you’re completely dependent on that, if a brand like P&G or Unilever doesn’t like what’s happening on the platform, and they threaten to pull the budget, which is about 20% of your revenue ? You don’t have a choice,” he said.
Don’t rely on corporations to give you rights.
Protect them yourself using freedom technology.(you’re on one)
– Jack (@Jack) 4 May 2024
Jack Dorsey on Twitter’s new direction
When Musk later rebranded Twitter as Aggressive against advertisers When they did not agree with his apparent support of an anti-Semitic post on the platform. He criticized companies such as Disney and IBM, calling them “the greatest oppressors of free speech”. tell them in clear words where to go,
This was the beginning of a new approach to X, and Dorsey understands why it was needed.
“To make that model work you have to do more than just advertising. You have to create subscriptions, which is what Elon is doing. You have to create commerce,” he explained.
“Twitter was a $5 billion a year business. I don’t know what it is now, but it’s clearly nowhere near that, right?”
“These are options that can be chosen, but that doesn’t mean it’s going to be the same level of business for quite some time unless you figure out a completely different model around it,” Dorsey said. ”
The 47-year-old internet entrepreneur also discussed his decision step away from bluesky’s boardlamenting that it was “virtually repeating all the mistakes we made at Twitter.”
Dorsey also talked about government influence on the Internet, artificial intelligence, and the possibility of Bitcoin being worth over $1 million by 2023, a very informative, engaging interview and a great insight into this influential person’s thinking. Have insight.
Image Credit: Ideogram
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