Elon Musk just trashed Twitter again. And he is reluctant to buy Twitter. He claimed Twitter has a more vast bots population than human beings active in space.
The recent court documents released many discussions and conversations between billionaires and what they thought before acquiring a company.
Elon planned to turn Twitter into blockchain social media because he thought the blockchain was a solution to prevent bots and spammers since the blockchain was created to fight email spammers in earlier days.
But his plan did not go well.
First, Elon got soured with Parag Agrawal, who later became CEO of Twitter.
Elon thinks Parag is just an a**-kissing CEO to please everyone.
Later, he refused to get a lecture from another Billionaire CEO of the crypto exchange FTX, Sam Bankman-Fried, about how to make Twitter a blockchain social media.
Elon Musk suddenly disliked the idea of Twitter, killing all bots and turning Twitter into blockchain social media.
What just happened?
Here is what I think is why he just turned around suddenly.
Killing bots is unprofitable
Twitter without bots is unprofitable anymore. Those bots can easily influence the opinions of viewers in the Twitter space.
Twitter is fighting hard, but more bots will likely be created and push more spam.
Blockchain Social Media is unprofitable
Yes, blockchain kills bots, but it makes social media becomes useless. Social media is a propaganda tool that spreads misinformation and disinformation. If social media loses its power to spread "the good news", why do people bother to use such a tool?
Cost of fighting bots over profits
Twitter will have an existential crisis when bots are more than they can control that outweigh the profits Twitter can bring. That is when the end of the social media era. Rather than using blockchain to make the purposely computation speed goes slow, AI is an excellent tool to categorize bots and eliminate them. However, there will have spammers AI to fight the good AI later.
Twitter is unprofitable business
The more bots on Twitter, the less profitable the Twitter business will be. Twitter has to find a way to eventually reduce the increase of the bots and consistency have enough users in the space. One solution is to use a real identification verification process, which is also a privacy concern for many Web3 community raise concerns.
Another way is using the NFT identification process to prevent bots enrollment, but people can use multiple wallets to register the platform, which is another future problem.
In conclusion
Blockchain social media is a contradictory idea.
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Photo by Alexander Shatov on Unsplash
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