Musk’s Twitter Loses Billions In First Year

Since the presidential election of 2016 and the ascent of Donald Trump into political prominence at the federal level in the United States, the nation has become increasingly polarized, divided and unstable. Tensions in the political atmosphere of the country have reached serious levels, and the overall quality of life in the nation has been deteriorating. Over 60% of the citizens of America are now living paycheck to paycheck, and rampant inflation which peaked in early 2022 continues to cripple working class families. Housing costs have skyrocketed and home ownership now appears to be out of reach for many Americans.

The 2020 presidential election was a hotly contested contest between the former 45th president Donald Trump and Joe Biden. While the election occurred during the COVID-19 pandemic, there were several issues that had major sway over the direction in which voters cast their ballots. Allegations of censorship and voter disinformation were made following the election, specifically in relation to a start published by the New York Post. The post had released an article claiming that the Hunter Biden laptop (owned by the son of Joe Biden) had been found with incriminating evidence on it. Twitter removed the story from its social media network and others claimed it to be false journalism. This all occurred just days before the election.

Months later, the statements were retracted and the story was deemed true. Elon Musk, the billionaire owner of Tesla, became a vocal advocate for free speech and stood against the censorship that Twitter and other social media platforms had orchestrated against those on the right of the political spectrum (including the president Donald Trump). Musk eventually bought Twitter and changed the name of the platform to “X”, and subsequently laid off many employees in an attempt to restructure the company and make it profitable. Unfortunately, in his first year of ownership, it has been reported that Musk lost billions of dollars.