Elon Musk Wiped Out Two-Thirds of X’s Ad Business. He’s Never Been More Powerful.
SpaceX’s latest earnings expose an uncomfortable truth: Elon Musk didn’t fail at X β he sacrificed it. By decoupling his fortune from Twitter’s ad collapse, Musk proved that when your rockets subsidize your chaos, market discipline is a myth. Two-thirds of X’s ad revenue is gone. Musk has never been more powerful.