2023-10-30 09:09 |
Elon Musk, who took over Twitter and renamed it X, has unveiled a new policy to counteract the spread of misinformation on the platform. Under this new directive, users posting misleading content that is later rectified by Community Notes, a crowdsourced fact-checking program, will no longer receive payment for engagement on those posts.
Musk’s decision follows warnings from independent researchers about X becoming a hub for misinformation and extremism since his acquisition a year ago.
Tweeting Misinformation on X Won’t Get You PaidMusk’s monetization program, which pays creators based on post views, has exacerbated the problem by inadvertently encouraging the spread of sensational and false content.
A notable case involved right-wing influencer Jackson Hinkle, who propagated unverified information to his 1.7 million followers during the Israel-Hamas conflict.
Musk’s policy shift is intended to “maximize the incentive for accuracy over sensationalism,” he said in a Sunday announcement. He bluntly explained the policy:
“Any posts that are corrected by @CommunityNotes become ineligible for revenue share.”
All in all, this move aims to alter the financial incentives that have accelerated the spread of misinformation on X.
Twitter Ad Revenue 2020-2025 (Projected). Source: Oberlo Fighting Bots With ‘Pay-to-Play’ ModelIn addition to tackling misinformation, Musk plans to introduce a nominal monthly fee for using X. This strategy aims to curb bot activity by increasing the cost of operating such bots. Many people also blame these bots for spreading hate speech and conducting scams.
Musk believes this “lower tier of pricing” could be instrumental in combating the “vast armies of bots.”
Read more: How Can Crypto Marketers Use Twitter (X) to Their Advantage?
The proposed pay-to-play model for X has sparked mixed reactions. Some users have applaud it as a bold step towards a bot-free platform. Others, however, worry about the platform becoming less accessible to the general public.
Yet, with the growing menace of bot armies and the need for sustainable revenue streams, Musk’s plan may be a necessary step forward.
These initiatives aimed at combating misinformation could set a precedent for other social media platforms grappling with similar challenges. It is uncertain if these tactics will effectively curb misinformation and bot activity and generate a steady revenue stream.
Ultimately, the success of these strategies will determine the future of X and its role in shaping online discourse.
DisclaimerIn adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.
The post Elon Musk Axes X Monetization and Ad Revenue for Misleading Tweets appeared first on BeInCrypto.
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