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Elon Musk admits X 'may fail, as so many have predicted'
(www.businessinsider.com)
This is a most excellent place for technology news and articles.
It's perhaps stupider than that. The guy couldn't take getting made fun of on Twitter, so he bought and killed it.
Rich people don't like being made fun of ... but you know what upsets them even more? Poor people realizing that they can make fun of them long enough and often enough to realize that the world should get rid of obscenely rich people.