"Despite his vast fortunes, Elon Musk has an incredible ability to turn an enterprise into radioactive waste. Tesla, for example, has suffered unprecedented brand damage owing to Musk's rampage through the federal government, while the Boring Company is becoming a nearly $1 billion disaster. Another looming case in point: the user base on X-formerly-Twitter has been stagnating miserably since its acquisition by the billionaire in October of 2022."
"New survey results from the Pew Research Center show the long-term results of Musk's control over the platform: over the last year, the percentage of Americans who say they use X has been nearly flat, down to 22 percent in 2024 to 21 percent today. Compare that to other platforms like TikTok, which grew four percent over the same period, or Instagram, which grew three percent, and it's clear that Musk's everything app is floundering when it comes to snagging new users."
"Demographically, that drop for X seems to be made up of mostly young users aged 18 through 29, who are far and away the largest users of social media. From 2024 to 2025, the number of 18-to 29-year-olds using X fell from 42 percent to 33 percent - exactly the sort of demographic decline, in other words, that Musk purports to be so concerned about society-wide."
Elon Musk's ownership has coincided with major brand damage to Tesla and heavy losses at the Boring Company. X, formerly Twitter, has experienced user stagnation since Musk's October 2022 acquisition. Pew Research Center data show U.S. usage nearly flat, falling from 22 percent in 2024 to 21 percent today. TikTok grew four percentage points over the same period and Instagram grew three points, while X lost ground, especially among 18-to-29-year-olds (down from 42 percent to 33 percent). Separate data indicate a roughly 10 percent year-over-year user decline in Q2 2024–2025. Increasing far-right content further deters potential user returns and undermines feature-driven recovery.
Read at Futurism
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