Elon Musk's Failed Monetization Attempts on Twitter

Twitter users are mad at Elon Musk and Twitter team because of the recent announcement of Elon. He tweeted that there will be a limitation for accounts to read every day. According to what he said, the unverified accounts will only have 600 posts reading limit per day. On the other hand, verified account overs will have 10x more limits.

Since Elon bought Twitter, things are not going perfectly fine as he expected. The team declared a clear war against bots and the first attempt has failed already. His dream of ceasing the operations of bots even ended up with more bots than Jack's term. As far as what we have seen as Web3 enthusiasts, the end of Web2 is around the corner.

Actually, Elon has a goal to achieve: Monetizing Twitter.

He emphasized his aim for the most popular short-form content platform for several times. He believes in the potential of engagement and authenticity of human interaction. No need an external push for Twitter users to keep tweeting. However, he really misunderstood what attention economy is. So far his attitude against users was like a person who tries to sell a product with some tricks.

Necessity of Web3 Form of Twitter

This is why we have LeoFinance.

When a project/platform is managed by a group of rich people, they want to monetize your attention in any way that is possible. To achieve that goal, they make, sometimes, take the risk of confronting their users/customers/audience if necessary.

Web3 is devastating. People will start to be abused by the Web2 platforms even worse. Black Mirror forecasts are, unfortunately, not juke. This might sound like the far future stuff but I honestly expect drastic changes over the next 5 years.

The new economy is not based on hard products like in the industrial revolution. We are in the era of attention economy where data and your time have utmost importance. Today, we started with a "temporary" limitation on the experience of social interaction on the web but this is just the baby step taken.

Let's be honest, Elon wants to have a platform like LeoThreads by turning every single unit of attention into a money machine. In the case that he achieves it with Twitter's popularity, we would double his wealth in a couple of years.

Yet, the sad news is that Web2 cannot operate smart contracts. Even if there is a way to integrate into blockchain, there will never be true decentralization under these kinds of attitudes.

Not Your Web3, Not Your Content

It is a fact that we sometimes how important it is. You will always face restrictions, compulsory memberships, paid features and more. What is worse is the bottom of the iceberg.

At the top level, you may go through what you can observe like obvious limitations and "policies" of platforms. However, the case of shadow bans on social media platforms are more serious concerns that are always neglected. Remember the time when Cambridge Analytica exposed you to a certain type of content with the power of Web2! Also, you may never reach your target audience unless you are allowed. There are some potential and already existing threats that we have in social media. Remember to emrace real Web3 🦁

We have started with a "temporary" limitation. No need to worry about it, just for some time 🤡

Posted Using LeoFinance Alpha