Tech billionaire, Elon Musk has made a new announcement regarding his social media platform, formerly known as Twitter, now called X. In a recent post on X, Musk stated that the platform would financially support individuals who have faced unfair treatment by their employers due to their posts or likes on the platform.
Musk declared, "If you were unfairly treated by your employer due to posting or liking something on this platform, we will fund your legal bill," and he mentioned that there would be no limits to funding these legal expenses.
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This move comes as X continues to gain traction, with Musk claiming that the platform reached a "new high" in monthly users, surpassing 540 million. Despite the rising user base, the company is undergoing organisational changes and seeking ways to address declining advertising revenue.
To boost the platform's performance, Musk took a bold step in rebranding Twitter as X after 17 years, bidding farewell to the iconic blue bird logo that symbolised the broadcasting of ideas to the world.
Reportedly, the new focus revolves around building an "everything app," aiming for a more comprehensive and engaging user experience.
However, the platform still faces financial challenges. Musk revealed that X's cash flow remains negative, primarily due to a drastic 50% drop in advertising revenue and the burden of substantial debt. Despite expecting an upturn in advertising revenue in June, the anticipated improvement did not materialise.
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Meanwhile, X has recently also introduced a new feature for its paid users under the Blue service which allows them to hide their verification checkmarks on the platform. In an update, the company stated that paid subscribers now have the option to conceal the checkmarks on their profiles and posts.
