Three years ago, when Elon Musk completed his $44bn acquisition of the social network then known as Twitter, he wrote an open letter to the service’s advertisers. He was not buying Twitter “to make more money”, he said. Instead, he was doing it “to try to help humanity”. Still, Musk set lofty technical and commercial goals: X, as he renamed it, would double its revenues within three years and triple its number of users.
He promised to “solve” the site’s problem with bots, introduce new features, and pledged that content moderation policy would be overseen by a “council with widely diverse viewpoints”. Musk even promised to build X into an “everything app”, handling social media and video, but also payments, shopping and even banking. Three years on, how is he doing?
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