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Elon Musk admits: I ‘may have done more to financially impair’ X than to help it

Elon Musk admits: I ‘may have done more to financially impair’ X than to help it


Elon Musk said that his posts on social media might have had a negative impact on his platform X (formerly Twitter). In a deposition for a lawsuit against the billionaire, Elon Musk talked about his posting habits on X and said, “I may have done more to financially impair the company than to help it, but I certainly I — I do not guide my posts by what is financially beneficial but what I believe is interesting or important or entertaining to the public.”

Elon Musk appears at an event in London.(AP)

The comments came in response to a question from an attorney regarding his use of X and a quote from Walter Isaacson’s biography of the Tesla CEO. The author has quoted Elon Musk as saying, “I’ve shot myself in the foot so often, I ought to buy some Kevlar boots.” To this, Elon Musk said he’s “guilty of many self-inflicted wounds.”

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X has reportedly lost many of its biggest advertisers since Elon Musk bought the company in 2022. The billionaire has also faced criticism for some of his posts on the site including one where he supported a post promoting the “great replacement” conspiracy theory. The platform has also reportedly seen a surge in hate speech and antisemitism after his takeover.

Earlier, Fidelity once again lowered the value of its stake in the social-media company as it suggested that the valuation of X had dropped 73% since Elon Musk bought the platform for $44 billion.

What Elon Musk said earlier about posting?

In an interview with the BBC, Elon Musk had earlier said, “Have I shot myself in the foot multiple times? Yes. I think I should not tweet after 3 a.m. If you’re going to tweet something that maybe is controversial, save it as a draft, then look at it the next day, and see if you still want to tweet it.”

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