(qlmbusinessnews.com Tues, 19th Sept, 2023) London, UK —
In a conversation with Israeli Prime Minister Benjamin Netanyahu, billionaire entrepreneur Elon Musk hinted that access to X, the social media platform formerly known as Twitter, could require a subscription fee to counter the presence of bots.
“We're moving to having a small monthly payment for use of the system,” stated Musk, who is also the head of Tesla and SpaceX.
Reporters sought further clarification from X but have not yet received an official statement from the company, leaving it uncertain whether this was an off-the-cuff remark or an indicator of undisclosed, more concrete plans.
Musk has consistently proposed charging for verification as his strategy for eliminating bots and fake accounts from the social media platform. Since taking over Twitter last year, he has sought to incentivize users to opt for an enhanced service known as X Premium, offering paid subscribers additional features such as longer posts and increased visibility on the platform. However, at present, users can still access X for free.
Although there is a clear financial incentive for the company to introduce user charges, Musk emphasised that the primary goal of having people pay for the service is to combat bots. He argued that “a bot costs a fraction of a penny” to create, but if users have to pay even a small amount, the effective cost to bots becomes significantly higher.
In the United States, X Premium currently costs $8 (£6.50) per month, with prices varying based on the subscriber's country. Musk indicated that he was exploring more affordable options for users, intending to keep the subscription fee minimal.
He stressed that this approach, while requiring further discussion, is his only proposed defence against the proliferation of vast bot networks.
However, there is a potential risk that placing X behind a paywall could lead to a significant loss of users, potentially impacting advertising revenue, which currently comprises the majority of the company's income.
Musk also discussed the issue of antisemitism on X during his conversation with the Israeli prime minister. The platform has faced criticism from the Anti-Defamation League (ADL) for what the advocacy group perceives as insufficient action against antisemitic content.
In response, Musk has stated that the company plans to sue the ADL to “clear our platform's name.”
During his conversation with Netanyahu, Musk reiterated his stance against antisemitism. Netanyahu acknowledged the challenge of striking a balance between free speech and content moderation and encouraged Musk to find that balance within the confines of the First Amendment.
“I hope you find within the confines of the First Amendment, the ability to stop not only antisemitism… but any collective hatred of people that antisemitism represents,” Netanyahu stated, expressing confidence in Musk's commitment to this objective.
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