When someone tries to buy the internet.
Is Twitter Even a Social Platform Anymore?
This is a column about technology. See my full ethics disclosure here.
Unless you’ve been fortunate enough to have lived under a rock for the last few years, you’ve likely had front-row viewing of Elon Musk’s acquisition of Twitter, rebranding to “X,” and then seeing it become a world-class purveyor of dystopian disinformation doom scrolling.
Before the Musk acquisition, Twitter provided oversized megaphones to the likes of Trump and Alex Jones. Before being booted from Twitter, Donald Trump tweeted more than 57,000 times, and Alex Jones ran his mouth so much that he was sued into debt so deep even the devil himself couldn’t dig him out.
When one of the world’s wealthiest buys what was once a dependable pillar of the internet information infrastructure, we get a front-row seat to watching public discourse quickly morph into a self-serving echo chamber, championing their personal views and financial interests. Once a trusted source for real-time news and soap boxes of various sizes for diverse perspectives, X now seems more interested in reinforcing the viewpoints of its owner than fostering an open exchange of ideas. I’m not arguing a censorship angle since Twitter/X is privately owned, and it’s the owner’s First Amendment right to use it as they see fit; instead, I’m taking stock of the current situation by looking at its decline of trust and siloization of the internet, and what the potential outcomes might be.
From Social Platform to Echo Chamber
Let’s take a moment to look at the fundamentals of the situation. Plummeting valuation and credibility after the Musk acquisition has left Twitter/X with a staggering drop in valuation, sinking to less than 80% of its purchase price. One has to wonder what the strategy was here. Was this a vanity play to show how much money he has? Or did he think he could grow it beyond its $44 billion dollar price tag using his eccentric ideas?
Now, considering the daily users and the platform’s decline, here’s where I suspect the biggest of the wildfires are:
The “Influencer News” problem. Twitter once championed a marketplace of ideas. Now, it promotes “influencer news” that aligns with Musk’s worldview, fostering a hostile environment for progressive and dissenting opinions. Musk’s new proclamation is that X will penalize “lazy linking” by demoting posts that link to external resources. The loud and blaring text between the lines is that he wants you to remain isolated inside the platform by keeping users inside the echo chamber rather than being exposed to outside influence. The menacing aspect of this is it discourages journalistic validation and favors conspiratorial narratives and ideological gatekeeping.
Advertisers are running for the hills. Major brands are pulling their ads to protect their brand image. For companies, associating with a platform that’s become a magnet for controversy is a branding risk they can’t afford to take. So how does he respond? Well, it was not in kind, nor with an empathetic response. He publicly bates companies and advertisers that bail from his platform as if he thinks they have something they can’t function without. His hot-and-cold relationship with the ad industry has left him with a 4% advertiser & brand safety confidence level. He is actively suing groups that try to boycott his platform. I find it funny that for someone who is a “free speech advocate,” he really hates free speech when it’s not in his favor. Without advertisers, who pays for the platform to operate? We have to ask ourselves where the cash flow would come from, and with the company being private, there’s no telling who could be keeping the lights on and what their motives could be.
Creator uncertainty over intellectual property. Musk’s recent claims that X owns and controls all accounts have sparked confusion and concern among creators. It’s no wonder creators are questioning their future on the platform. The lifeblood of every social platform is user-generated content, and users tend to expect that what their valuation as they enrich the lives of their audiences. Part of creating value is the expectation that one can buy or sell their brand. With the recent acquisition of Alex Jones’s Infowars by the Onion, Musk is showing his distaste for satire again by now claiming that the Onion cannot the intellectual property they purchased. Does Musk’s logic extend to governmental and institutional accounts, and where does that leave transfers of power, transparency, and accountability?
What are some of the consequences?
Here are some potential consequences of Twitter/X’s decline in valuation and credibility:
Continued Loss of Advertisers and Revenue: As the platform becomes less attractive to advertisers due to brand safety concerns and a declining user base, Twitter/X may need help generating sufficient revenue to rations. Losing revenue will likely lead to both degraded platform performance and the opportunity for less-than-credible or malicious actors to bankroll their operations.
Reduced User Engagement from Degraded Community Experience: When users perceive the platform as an echo chamber or a source of misinformation, misogyny, and anti-social rhetoric, they tend to become less engaged and active, leading to a further decline in user numbers and overall activity, compounding the ad-revenue problem. We’re seeing several exodus from X, with the Swifty exit being the most recent due to far-right activity threatening violence and sexual assault.
Difficulty Attracting and Retaining Creator or Technical Talent: The platform’s negative reputation and uncertain future may make attracting and retaining top talent difficult, hindering innovation and growth. When the platform’s technical performance and content value decline, users will find alternative sources of entertainment.
Diminished Influence and Relevance: As Twitter/X loses its position as a trusted access point for credible new sources and information, its influence and relevance in public discourse may diminish significantly.
Potential for Increased Regulation and Scrutiny: The platform’s struggles and controversies may attract increased attention from regulators and lawmakers, leading to potential restrictions or interventions. (Note: not likely under the incoming administration, considering Musk’s political involvement.)
Overall, the decline in valuation and credibility poses a significant threat to Twitter/X’s long-term viability and success. If the platform fails to address these challenges and restore trust, it will continue to face its current downward spiral, leading to irrelevance.
Where to from here?
X’s current trajectory puts this (the Twitter days) once-vibrant hub on the fast track to imploding under its own misguided ambitions. Musk’s goal to “help humanity” seems to have taken a turn, or maybe his definitions are just different from those of us boring Earth-dwelling denizens, instead of fostering open dialogue and being a hub of information access. X’s hostility towards users, a war with advertisers, and an assault on the hyperlink are making quick work of its decline. These practices are transforming X into a fortress of insularity, promoting far-right ideologies and isolation over collaboration.
As brands, creators, and users reevaluate their ties to X, one thing is clear: the platform’s irrelevance isn’t a question of if but when. Several other platforms offer different approaches to social networking and share a commitment to open interconnectivity, user control, and inclusivity. As Twitter/X continues to face challenges, these alternatives may become increasingly attractive to users seeking a more open and diverse social media experience.
Musk may claim he owns the platform and its accounts, but he doesn’t own the future of the internet. I believe the platforms that value open interconnectivity and inclusivity will outlast those that don’t. So, as more and more people flee from X, I do wonder what the next wave of social media will look like and if we’ve learned our lessons yet.
You can find me on Bluesky and Threads.
When someone tries to buy the internet. was originally published in Taco Powered Modem on Medium, where people are continuing the conversation by highlighting and responding to this story.