One word wechat! Chinese twitter plus plus plus. One stop shop for so much in China. The west hasn't got the full benefit but aiui for the Chinese nationals there's n payment systems and so much more meat to it. As such it makes money. BTW we often do business through wechat with one of our Chinese suppliers. It gets a faster response than email ever did.Lance Dopestrong wrote: ↑12 Mar 2023, 10:49am Although turnover is immense it hadn't made a profit, or positive net income, since 2019, and even then only a moderate one. There isn't any money for those interested in profit.
That being the case I'm not sure at all either why Musk bought it thinking he could make money, or why employees thought the business model could continue ad infinitum. It wasn't a viable business model as it was, and seems unlikely to suddenly become one moving forward. It seems he may do nothing more than hasten the demise that was eventually inevitable anyway.
There were some pundits saying that musk could expand into the field of wechat by adding other services. Wasn't musk involved with PayPal afterglow. However he a Tawt who has messed up because of his own high opinion of himself and political views too. Bad business!