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Value of X has fallen 71% since purchase by Musk and name change from Twitter
(www.theguardian.com)
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this post was submitted on 02 Jan 2024
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As easy as it is to hate what he did to Twitter I wonder how much of that original value was just "VC hype" and now people see it for the failure it has always been like all social media in a way. Turns out it's pretty hard making money out of non paying users.
I think alienating all the advertisers probably didn't help much either.
The original value was based on ad revenue which is down now. It has nothing to do with VC hype or non paying users.