Elon Musk bought Twitter to turn it into the ultimate social network, an app where you could do everything. One year after his purchase, the bluebird social network had never been worse.
Elon Musk, former CEO of Twitter, has admitted what we all suspected: under his leadership, the platform might not be thriving as much as he believed possible. Since his arrival, the social network has seen a decline in revenues and users.
“The sad truth is that there are no major ‘social networks’ right now,” the billionaire posted. “We might fail, as many have predicted, but we will do our best to have at least one.”
Everything is mistakes and firefighter ideas
This admission comes after a failure over the weekend resulted in the deletion of some images and links posted before December 2014.
Among the deleted images was the famous Ellen DeGeneres selfie at the Oscars, which apparently was the most retweeted photo of all time, though unlike most of the now broken images, it was eventually restored.
It was a rare moment of self-reflection for Musk, whose chaotic tenure at the helm of Twitter has been characterized by his bravado. Meanwhile, Twitter’s new CEO, Linda Yaccarino, retweeted – or “retuiteó,” as per the new branding – Musk’s message and added her own touch.
“There’s an important place in the world for X,” the CEO wrote.
And this is not the first time Musk seems to have contemplated the possibility of a defeat in the realm of social media.
Shortly after Yaccarino took on the role of CEO in the summer, the site’s owner admitted in a Twitter Spaces discussion that “half of our advertising disappeared overnight” after acquiring the site, though he qualified that statement by saying it was due to his insistence on “freedom of expression.”
He also appeared to acknowledge earlier in the year that the purchase of the social network might not have been the best decision for its bottom line.
“It remains to be seen whether this was financially intelligent,” Musk told Fox News host Tucker Carlson in an interview in April. “Currently, it’s not.”
It seems Elon Musk might be starting to realize that he’s driving the site to ruin. For many of us, Twitter is already in the past, painful as that may be.
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