Why Elon Musk’s new social network could fail
While information around Elon Musk’s rumoured social network remains scarce, it’s not surprising that “x.com” could face the same hindrances which caused the demise of many new platforms.
While by any normal social network moderation standards “x.com” may not be well favoured, Musk has touted it as the name of his proposed social network amid his legal battle with Twitter.
However, its name remains very much in line with Musk’s intention for Twitter, which he initially “purchased’”for $44 billion (R690bn), just 16.7% of his net worth, in April.
The transaction came after a barrage of tweets by Musk in which he described tweaks to the service, including a premium version, an edit button and less moderation on Tweets, hence the name “x.com” for his proposed social network.
While being outspoken on the microblog, Musk has certainly garnered an audience on Twitter that could follow him to a new social network.
This, after his conversational transaction with Twitter, pushed him to more than 100 million Twitter followers by late June.
Despite this, history tells us that launching a social network comes with its own challenges, a slim success rate, and other issues Musk’s exodus of Twitter’s 100 million followers might not be able to resolve.
Today’s most popular social networks have somewhat of a legacy, with most over 10 years old, with the exception of Tiktok, launched in 2016.
Despite this, most popular networks also reach maturity before a minor fall-off of users at around 1 billion users – a stretch target for any emerging social network.
While the story of Tiktok could give hope to anyone planning on starting their own social network, the video-sharing platform’s success is unique against platforms expected to succeed – but didn’t.
Google’s social network, Google+ didn’t see the success expected, but was also not well marketed. When launched, potential users had to apply to join and only gained access after a waiting period.
The failed social network was also competing with popular platforms such as Facebook, Twitter and the then up-and-coming photo-sharing app, Instagram.
Social networks at the time were volatile and newer platforms with better features obliterated older ones such as Myspace.
While there is no solid confirmation of a future social network by Musk other than a few tweets, the conclusion of Musk’s court proceedings around the Twitter deal may reveal more.
Musk is locked in a legal battle with the social network over the cancellation of his $44bn takeover deal, with proceedings expected to begin on October 17.