Technology
This is the official technology community of Lemmy.ml for all news related to creation and use of technology, and to facilitate civil, meaningful discussion around it.
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1: All Lemmy rules apply
2: Do not post low effort posts
3: NEVER post naziped*gore stuff
4: Always post article URLs or their archived version URLs as sources, NOT screenshots. Help the blind users.
5: personal rants of Big Tech CEOs like Elon Musk are unwelcome (does not include posts about their companies affecting wide range of people)
6: no advertisement posts unless verified as legitimate and non-exploitative/non-consumerist
7: crypto related posts, unless essential, are disallowed
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Eh, honestly I think it is a good move, fuck you and your status symbol.
Yeah, from business perspective this seems to actually be pretty sensible. Verified accounts largely represent official accounts from companies such as news orgs. Paying 20 bucks a month for verification is pocket change for them, and they will do it to continue having official presence on the platform. There are literally millions of such accounts translating into tens of millions in monthly revenue.
This approach also creates a direct monetization model as opposed to the current indirect ads/analytics based revenue stream. Ad revenue is currently crashing as US economy enters a recession. Both Fb and Google are showing huge losses and doing layoffs already. Focusing on the main product would also likely allow cutting down on the employees significantly which is something that Musk keeps talking about.
yep as much as I dislike Elon's politics, this is actually a good business move.
Though I doubt this will impact the ads/analytics side of things.
Yeah, I can't see them dumping that entirely either. Data analytics in particular will likely always be profitable. That said, it is likely there will be some cuts going forward just to trim the operating expenses.