Elon Musk's X platform will fund ‘unlimited’ legal bills for users: Are you eligible?
Also read: Elon Musk reveals major update on ad revenue sharing: X Premium subscribers will get… In July, twitter rebranded itself with the new name X and a new logo replacing the iconic 17 years old blue bird logo, signalling a shift towards becoming an "everything app" and broadening its focus beyond its previous identity as Twitter. Despite these developments, X's cash flow remains negative due to a 50 percent drop in advertising revenue and a substantial debt burden.
An expected upturn in advertising revenue in June did not materialise. Also read: Elon Musk's Tesla signs five-year lease agreement for its first office space in Pune.
Details here Since Elon Musk's takeover of X, the platform has faced challenges in managing inconsistency, which has led to advertisers withdrawing their support. Another major factor contributing to advertisers' withdrawal is the platform's content moderation compromise.
Advertisers are concerned about their ads appearing alongside inappropriate content. In response to the financial difficulties, X implemented stringent cost-cutting measures, resulting in the layoff of thousands of employees.
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