Elon Musk's X social media platform, formerly Twitter, will cover legal fees and take legal action on behalf of users who faced employer backlash for their posts or likes. Musk highlighted unlimited financial support for legal bills and aggressive actions against companies' boards.
Musk recently shared a graph that showed X hit a user milestone of over 540 million. Amid organisational changes and a decline in advertising revenue, the company aims to revitalise its financial prospects. This announcement follows a series of confident statements by X executives about the platform's strong user engagement.
Why does it matter?Nonetheless, Musk had earlier highlighted the platform's financial challenges, including a significant drop in advertising revenue and high debt. The anticipated rise in advertising revenue in June did not materialise as expected. The sustainability of this approach, especially given the financial challenges X is already facing, raises questions about the long-term viability of this initiative and the platform's business model.