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Twitter Down 33 Percent under Elon Musk · Elon Musk Podcast

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  Hi everybody and welcome back to the Elon Musk podcast a Twitter.
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  The renowned social media platform once considered the
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  heartbeat of the digital world has experienced its steep down
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  fall in value purchased by Elon Musk the Techno entrepreneur,
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  and CEO Space X and Tesla. The platform is value has
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  plummeted to one third of the acquisition price as revealed by
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  Fidelity's recent markdown of its Equity stake in Twitter.
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  Now, Elon Musk who once saw Twitter as an opportunity to, to
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  push the boundaries of social media has confessed that the
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  acquisition was not as fruitful as he had envisioned.
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  Now purchased for an astronomical forty four billion
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  dollars, including thirty three point, five billion dollars in
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  equity. Twitter's value has halved
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  according to mask the exact methodology by which Fidelity
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  determine the markdown remains undisclosed leaving.
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  Unanswered questions about whether they had access to any
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  non-public information from Twitter.
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  Now, the first signs of decline emerged in November when
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  Fidelity reduced the value of its Twitter steak to 44 percent
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  of the original purchase price and this initiated a series of
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  further markdowns in December and February, marking a
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  troubled, fiscal trajectory for the platform.
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  And since musk took control, Twitter's Financial Health has
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  been precarious saddled with thirteen billion dollars of
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  debt. The company faced a downturn
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  marked by erratic decision-making challenges and
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  content, moderation and compromise.
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  Consequential 50% decline in advertising Revenue as revealed
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  by musk and March and attempt to supplement.
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  This loss with the sales from Twitter, blew subscriptions fell
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  flat as less than 1% of Twitter's, monthly users opted
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  for the service by the end of March.
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  And while Twitter remain silent failing to respond to requests
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  for comment, musk's investment in the platform has dwindled to
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  8.8 billion dollars. The financial downturn is not
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  going to noticed with the Bloomberg billionaires.
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  There's index using Fidelity is valuation indicating a dip in
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  musk's 187 billion dollar Fortune by about 850 million.
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  Now despite these Financial tribulations, musk's wealth has
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  grown by more than 48 billion dollars.
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  This year primarily attributed to a 63 percent surge in Tesla's
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  share price. Now, the initial optimism that
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  surrounded, musk's acquisition of Twitter in late October was
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  short-lived and the platform experience to see.
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  A surge in users with app, downloads growing by nearly 10%
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  in November now. However, daily active users.
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  Barely budged showing an increase of less than one
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  percent from the previous month. And despite this must proclaim,
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  the platform's usage to be at an all-time high with the actual
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  figure, only 0.8 percent higher than Twitter's previous daily,
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  user high in, June of twenty twenty-two musk is made, major
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  alterations to Twitter's operations and functionality,
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  while forecasting, the amp to reach one.
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  Billion monthly users by 2024. However, the Grandeur of his
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  prediction contrasts sharply with the reality, and it is per
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  data analysis, from autopia data API and sensor.
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  Tower user engagement on Twitter has shown signs of decline.
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  The once-promising, spikes and app, downloads are now.
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  Flattening and following musk's take over the average time,
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  spent on the app has remained stagnant at 19.1 minutes per
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  day. The same as in April, 20 22,
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  According to epitope Ian and they say there was a pretty nice
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  increase in usage right after he took over but now it's flat to
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  down observes. Tom Grant head of research for
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  apt opium and the platform saw brief periods of increased
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  engagement, particularly around the collapse of Silicon Valley
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  Bank an event that caused a surge among Twitter's power
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  users. However, these instances were
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  not sufficient to reverse the overall trend.
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  Now, comparatively other social media apps like Tick-Tock
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  Instagram and Facebook. Book record, significantly
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  higher daily, usage times users. Spend an average of eighty,
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  seven minutes per day on Tick-Tock 43 minutes on
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  Instagram and 39 minutes on Facebook.
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  Dwarfing Twitter's average of 26 minutes per day as found by
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  sensor tower. Now Twitter barely edged out
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  Snapchat which sees 25 minutes of daily usage in the US.
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  And this stark contrast outlines the gravity of Twitter's
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  challenges and maintaining user engagement notably Both younger
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  and older users divided between Millennials and Gen X and older
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  initially increase their time spent on Twitter according to
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  data around the time of musk's take over however this momentum.
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  Soon dissipated with both demographicsnow spending less
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  time on the platform. According to a copious analysis,
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  a more worrying, sign lies in the weaning engagement of
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  Twitter's power users in March events.
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  Such as the collapse of Silicon Valley Bank led to a peak in
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  platform engagement. Power users logging in for a one
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  hundred and thirty eight point seven minutes a day and by April
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  the figure fell to one hundred and thirty eight minutes,
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  slightly less than the same period a year ago.
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  Globally, Twitter is user rank among all apps has stagnated at
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  7th place since January of twenty twenty-two.
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  According to data, that Ai and app.
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  Downloads once a promising metric, also showed signs of
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  stagnation in April, downloads fell to sixteen point two
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  million down from 17. Point.
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  Five million. In April of 2022, slight
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  fluctuations have occurred for instance, in March, Twitter, dip
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  to the eighth place for Global. Download ranks only to recover
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  in April. And despite these statistics,
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  there is a glimmer of hope the introduction of in-app purchases
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  under musk stewardship, is shown promising growth in April, and
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  May of 2022 in F revenue for Twitter total just over 120,000
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  dollars, combined fast forward to the same period in 2023.
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  The Any surged to just over three million dollars.
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  And most of this revenue is driven by users purchasing
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  Twitter, blew subscriptions, which offers users verified
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  status for $11 per month for iOS and eight dollars per month for
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  everyone else. Even though this growth in a
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  revenue shows potential, the bigger picture remains unsettled
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  since musk's take over there, we've been 88.1 million
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  downloads of the app. Lee less than the same period a
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  year ago. When eighty eight point, six
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  million people, downloaded the app.
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  Now this data paints a challenging picture for Twitter
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  under musk's management from Once being a thriving, social
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  media platform, Twitter now, grapples with declining user
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  engagement flattened app downloads and revenue.
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  That despite some signs of life is far from robust in the
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  spotlights. Now, on Elon Musk and he has to
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  demonstrate his knack for Innovation and revitalization to
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  turn around the fortunes. Of this once-vibrant platform.
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  His task is huge and we'll see how this Saga unfolds in the
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  future. I want to say thank you for
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  listening to the Elon Musk podcast today.
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  I appreciate your time, I appreciate you spending it here
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  with me today. If you can take a second and hit
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  the Subscribe or follow button on whatever podcast platform
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  that you're listening on right now.
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  That would be fantastic. I do appreciate you and I hope
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  you have a great day. Please take care of each other
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  and yourselves. And I'll see you next time.