this post was submitted on 27 Nov 2023
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Brands have tons of relevance beyond physical products.
Tweet being used ubiquitously was profitable the same way xerox being used as a verb to mean "scan and copy" was profitable. Instead of looking at xerox machines first, in this case, people would look to twitter (and the ads on the site, clicked or not) first when it came to social media information flow.
I'm not saying it's a good thing that anyone uses only one social media, but it was a reality. Twitter has moved down to only about 8% market share from a dominant position. It does NOT command the audience it once did, and advertisers are moving away from it for more reasons than the literal antisemitism and general ignorance spouted by the new owner. It's a multitude of factors dragging it down in overall value, but deleting brand recognition by associating the site with the multiple previous failed X projects by the same guy who fucked up the previous ones? Not priceless.
I hate to tell you this, but X makes quarterly business reports like every other company. You are making up a value basis that is polluted by freely given verification. You can see how many millions in revenue they lose quarterly. Their new plan is CLEARLY not working, there's literal evidence.