|Elon Musk has strategies to significantly develop X.|
Any social network goes through three stages: Launch – Peak – Decline. Yahoo chat, once a hit, had to give way to Messenger. Blog 360 had to close down, even before Facebook became popular.
Now in Vietnam, Twitter is ready to compete with Facebook and YouTube, especially after being owned by billionaire Elon Musk. Musk is said to have made landmark changes right after owning the platform. From selling green ticks that provide benefits for those willing to spend USD 8/month, Twitter changed its name to X and introduced revenue-sharing mechanisms with users.
|Donnie Chu – DC Group’s Founder.|
Regarding Twitter’s famous deal to change ownership, Donnie Chu, DC Group’s Founder, Top 1 MCN on TikTok with more than 115 billion views for hashtag #DCGR, said billionaire Elon Musk has many reasons and buying Twitter is just the beginning of his long-term plan.
Dinh Quanh Loc, LaunchZone’s Founder said: “Most other social networking platforms are at their “saturation” level. A series of tightened policies makes it highly difficult to make money. Meanwhile, too much content is produced on those platforms with high competition but low innovation.”
Loc, who has earned achievements with social networks, believes it is not much different to find new opportunities on X but earning achievements will not be the same. Content creators’ most important task is to find X’s algorithm and suggested directions to reach many users. At the moment, when there is not much content on X, the content itself is not the biggest challenge.
Sharing the same opinion, Nguyen Van Hung, admin of Academy X (Twitter), a group on Facebook with nearly 34,000 members, said every social network has its peak time before the decline stage. YouTube’s golden time was in 2014, Facebook in 2017, and TikTok from 2019 until now.
When the market reaches its “saturation” stage, the competition becomes fierce and there are almost no opportunities for those who miss the wave to make money. Therefore, it is now a favorable time for the launch of a new social network. Twitter is not exactly “new” but has not been really attractive to Vietnamese customers. With its base of famous people worldwide, experts in earning money from social networks believe that X (or Twitter) will soon “take over” young people.
|Groups that share knowledge about X are attracting many users.|
“Do you believe that starting with Twitter now is no different from starting with YouTube in 2013? It can be even more profitable!” said Le Tien Hai.
According to Hai, making money on X has many advantages. With this potential market with many niches, content creators have many topics to choose from without facing too much competition. Meanwhile, producing content on X also costs much less than on TikTok or YouTube.
Getting started with X is also easier than other platforms because, with just a few tweets, content creators get a lot of interaction. As X becomes more attractive, more people will sign up, bringing huge opportunities to content creators.
|Dinh Quang Loc – LaunchZone’s founder|
“However, there is no such thing as a leisurely job. There is also no job that makes money quickly. X is in the transformation period, so we should start and work hard now. The pioneers can capture a whole trend,” said Dinh Quang Loc.