Online platform X formerly known as Twitter could introduce a monthly fee for all users, its owner Elon Musk said on Monday, citing the need to cut down on bots.
The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when it was known as Twitter. He has fired thousands of employees, introduced a paid premium option, cut content moderation and reinstated formerly banned accounts including that of former US president Donald Trump. He said in July the platform had lost roughly half its advertising revenue.
According to him, it's the most effective way to combat large numbers of bots. Bots are inexpensive, costing only a fraction of a penny, while even a small payment significantly raises the cost. Additionally, obtaining a new payment method for each bot adds to the expense. This conversation took place in the context of Elon Musk's dispute with the Anti-Defamation League, a Jewish organization in the US. Musk claims that the ADL's false accusations of anti-Semitism have negatively impacted his company's revenue by scaring away advertisers, and he has threatened to sue for billions of dollars.