Elon Musk has been going down a steep hill since gaining ownership of a platform formerly known as Twitter, now renamed and rebranded as X.
X is a popular social media platform. Musk has said he bought it because he felt like the platform was stifling freedom of speech.
According to Yahoo Finance, Musk said he was bored with success at his other companies and wanted to try something new. The first thing Musk did upon buying Twitter was to fire 80% of its staff. According to The New York Times, Musk fired every employee who criticized him and eliminated contractors as well.
It’s odd to do such a thing when you need a team to run a business. Since purchasing the company, not only did he alter policies and rules, he changed the name. The reason Musk changed Twitter to X is because he has a fondness of the letter. His other companies include SpaceX and X Corp.
Musk has also introduced new rules for the platform. Post rate limits will now be 8,000 characters for verified accounts, 800 for unverified accounts and 400 for new unverified accounts.
This is not the first time Musk has tried to change the name of a company. Twenty years ago, Musk tried to take over the financial technology company PayPal and rebrand it to X.
According to The Washington Post, Musk tried to rebrand PayPal in the early 2000s as the CEO. The reason the deal didn’t go through was because people would have thought it was an adult website.
X has not fully transitioned. If you go to the site, it still shows Twitter.com as of publication. Musk is now moving X to a monthly subscription model. The platform used to be free. Now users will have to pay to have a blue verified check mark.
What confuses me is how Musk complains about freedom of speech being taken away, then turns around and charges people in order to exercise that speech on X.