- Elon Musk is advocating for a change in Apple’s revenue-sharing model, calling for a more creator-friendly approach.
- Dogecoin’s co-creator joins the discourse, encouraging Apple’s CEO to share more wealth with creators.
In a bold move that’s stirring up the tech world, Elon Musk, the renowned CEO of SpaceX and Tesla, has made known his intention to challenge Apple’s longstanding revenue-sharing model. The playfully provocative comment from Dogecoin’s co-creator, Billy Markus, only adds another layer to the intriguing saga.
Musk’s Mission for a Creator-Friendly Model
Musk’s expressed intent is to discuss Apple’s current 30% revenue-sharing arrangement with “X”, the rebranded version of the microblogging site, Twitter. His proposition: an adjustment of the fee to 30% of what “X” retains, as opposed to the full revenue. The motivation behind this move is to maximize the earnings of creators on the platform.
The genesis of this conflict lies in the 30% commission Apple imposes on companies to sell their products and services via the App Store, a fee many see as steep. Apple justifies this levy as a protection measure against fraudulent activities, thereby assuring users of a secure platform.
Dogecoin’s co-creator, better known as Shibetoshi Nakamoto on “X”, nudged the conversation further. In a jesting tone, he urged Tim Cook, Apple’s CEO, to share more of the tech giant’s immense wealth with creators.
Musk also shed light on the revenue-sharing commitment of “X”. The platform initially promised to keep no percentage of the earnings for the first year, charging only a 10% fee after that. However, it now pledges to take no cut until creators’ payouts exceed $100,000.
New Features and Cryptocurrency in the Offing?
Adding further excitement to the discourse, Musk hinted at a new feature that will enable creators to set the price of their paid subscriptions.
In the broader financial landscape, Musk is nurturing an audacious vision to transform “X” into a comprehensive platform for payments and financial services, potentially integrating cryptocurrencies such as Bitcoin, Dogecoin, XRP, and Ethereum. This move is rooted in Musk’s belief in the potential of digital assets, as evidenced by Tesla’s significant Bitcoin holdings and his endorsement of Dogecoin.
This grand strategy dates back to Musk’s PayPal days, where “X.com” was the platform’s original name. Owning the “X.com” URL, which now redirects to Twitter, lends an intriguing twist to this venture.
The integration of digital assets into “X” could catalyze broader crypto adoption, enabling fintech applications and blockchain solutions like Ethereum and Solana to reach more users. As Musk’s vision unfurls, the transformation of “X” into a financial powerhouse seems increasingly plausible, signaling a new era of digital finance.