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Read the full post on INLEO to dig deeper into how network effects shape the future of platforms and payments.

The real question isn't whether X survives. It's whether people will actually abandon their existing financial habits and payment systems to try something new.

Musk isn't really thinking about social media anymore. He's pushing into payments with X-Money, trying to expand the network effects into the financial realm.

Network effects are wild. They give X a moat, but they also make it harder to grow faster. The platform is gaining, but not dramatically compared to Meta, Google, or YouTube.

Meta and Google followed suit with their own massive layoffs. Turns out the tech industry had a serious overcapacity problem everyone was in denial about.

The early days were rough. Musk laid off 75% of the staff, and critics claimed he'd wasted $43 billion. But most tech companies were bloated with unnecessary headcount from the pandemic boom.

Here's the thing nobody talks about: X is now the top source people turn to for breaking news. When the Iran-Israel conflict kicked off, X saw a huge spike in usage.

Bluesky had a massive surge during the 2024 election cycle, and suddenly people were declaring X finished. Then the election ended and Bluesky traffic absolutely tanked.

Remember when Elon took over Twitter and everyone said he was destroying it? That narrative hit different back in 2022.