Fake Twitter accounts… Elon Musk in the middle of a nightmare
The sorcerer’s apprentice is disillusioned. By selling Twitter certification badges, Elon Musk unknowingly started a spiral of creating fake “certified” accounts, potentially permanently damaging the business model of the microblogging site he bought on Oct. 28. . For a few days now, smart guys have been having fun creating fake profiles of celebrities, companies or politicians, which they authenticate by buying the badge offered for 8 euros a month. So we saw on the network a fake account of the American basketball player Lebron James, who asked for his transfer from the Los Angeles Lakers, or two accounts allegedly hosted by George W. Bush and Tony Blair, discussing their regrets, no longer in to be able to. Kill Iraqis”. And we no longer count the brands caughtfrom Lockheed Martin to Nestlé or Pepsi, which celebrates its competitor Coca-Cola in a tweet, or even … Tesla, the parent company of Elon Musk.
In the direction of a leak from advertisers?
Amid the chaos, the billionaire tried to regain control on Monday, announcing that “any Twitter account involved in identity theft without clearly stating that it is a spoof will be permanently banned.” This Friday, in the greatest cacophony, the social network reintroduced an “official” badge to certify certain profiles and suspended its paid authentication system. “To combat identity theft, we’ve added an official logo to certain accounts,” the platform tweeted. It was time. Identity thefts increased throughout the week, with varying degrees of success. The disappointment is great for Musk, who wanted to campaign for freedom of expression and called for less moderation of content on the platform. Here he is forced to do the police. everything he hates Especially since the entrepreneur may have permanently weakened the profitability of his platform by weakening the certification model. Twitter’s loss of credibility and uncertainty about its future has led to an investment halt. Several advertisers have already suspended spending on the highly influential social network whose economic model is 90% dependent on advertising. And Insider Intelligence has cut its forecast for Twitter’s ad revenue by 39% in 2023 and 2024.
In the crosshairs of the competition authority
Twitter’s bankruptcy risk has never seemed so high, as Musk admitted at a meeting with employees on Thursday that he didn’t know how “shortfall in revenue” the company would face over the next year. “It’s possible that we have a multi-billion dollar liquidity shortfall,” he said. In an internal letter the day before, he had written to them that the path would be “tough” and that they would now have to be “in the office personally at least 40 hours a week”. And bad news never comes alone, the US Competition Authority (FTC) issued a rare warning to the platform on Thursday: “We are following recent developments on Twitter with great concern. No CEO or company is above the law,” an FTC spokesman said, noting that the platform could face hefty fines if it fails to comply with privacy and data protection regulations. For Musk, the takeover of Twitter looks more rocky than ever.
(Challenges with AFP)
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