Starting August 7th, advertisers that haven’t reached certain spending thresholds will lose their official brand account verification. According to emails obtained by the WSJ, brands need to have spent at least $1,000 on ads within the prior 30 days or $6,000 in the previous 180 days to retain the gold checkmark identifying that the account belongs to a verified brand.
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Threatening to remove verified checkmarks is a risky move given how many ‘Twitter alternative’ services like Threads and Bluesky are cropping up and how willing consumers appear to be to jump ship, with Threads rocketing to 100 million registrations in just five days. That said, it’s not like other efforts to drum up some additional cash, like increasing API pricing, have gone down especially well, either. It’s a bold strategy, Cotton — let’s see if it pays off for him.
If Elon bought it just to sink it, he would have just bought it, then shut it down.
He’s trying to build his ‘financial superstore’ idea from 20 years ago and it will be disastrous in a way that hasn’t even been seen yet.
Wait until this idiot starts implementing money transactions in Twitter and thousands of users suddenly have their bank accounts drained or worse.
It’s only a matter of time before something so bad happens that all the nonsense that he’s already done will be a footnote to the really big story.
Is he legally allowed to just shut down twitter?
Yes. It’s a private company.
But he has obligations from his debtors
Sure, but that’s another matter. If a laundromat has no desire to operate any longer, does it have to continue just because it has debt? I don’t think so.
sure, but with contracts as big like this, it’s highly likely that there are some special clauses that forbids him from just killing the project outright.
Also, he’d have a hard time coming up with the cash to pay off the 20B+ bucks he borrowed. He’s rich, but not in cash.
(not saying that this is the case at all, the more likelyhood is that he’s just an idiot)
The value of TSLA is more relevant to his debt financing than whether Twitter is operating or not.