A Year ago today – Elon purchased Twitter.
Twitter was renamed X and Musk’s plan was to shift away from advertising and toward paid subscriptions. However, the company has become smaller in almost every way, with fewer workers, fewer users, and less revenue.
About 13% fewer users signed on each day in September 2023, compared with last October. The company employs about 1,500 people, down from 7,500 the day Musk bought it
The main plank of Musk’s plan for X was to shift away from advertising and toward paid subscriptions.
However, only 950,000 to 1.2 million people now pay for X’s $8 monthly premium service, which means X persuaded less than 1% of users to sign up.