X, formerly known as Twitter, appears to be contemplating a significant transformation in its business model. In a surprising statement from Elon Musk, there are hints that the platform may transition to a paid subscription model for all its users. This move could potentially be one of the most controversial changes introduced by the CEO of Tesla and SpaceX thus far.
During a recent live stream conversation with Israeli Prime Minister Benjamin Netanyahu, Elon Musk disclosed that X is in the process of transitioning to a subscription-only business model for all its users. The billionaire entrepreneur suggested that instituting a “modest monthly fee for access to the X platform” could be instrumental in combating the “extensive armies of automated bots” plaguing the microblogging platform.
He went on to explain, “Because a bot costs a mere fraction of a penny—let’s call it one-tenth of a penny—but even if a bot creator has to shell out a few dollars, the actual cost of deploying bots becomes considerably higher.” However, Elon Musk did not specify the exact monthly subscription cost for when this change takes effect, though it is likely to differ from the current Premium plan.
Musk envisions that this shift would compel bot creators to register a new payment method for each individual bot, essentially making it significantly more challenging for individuals to create fraudulent accounts on the platform. As of now, these are the details that have been shared concerning this substantial alteration, so stay tuned for further updates.
