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What will be the revenue impact on X due to EU fines by December 31, 2024?
3
Resolution / Starting Odds
No impact • 25%
Up to 3% revenue loss • 25%
3% to 6% revenue loss • 25%
More than 6% revenue loss • 25%
Official company financial statements, news reports from reliable sources like Bloomberg
Story
EU to Issue Final Warning to Musk's X Over Dangerous Content, Faces 6% Revenue Fine
Jul 4, 2024, 05:44 PM
Elon Musk's social media platform X is set to be served with a final warning by European Union regulators for failing to combat dangerous content. This action marks the third instance of the EU taking a strong stance against Big Tech in recent weeks. The warning comes under the Digital Services Act (DSA), which mandates stringent content moderation standards. X faces potential fines of up to 6% of its global revenue if it fails to comply. The platform has undergone significant layoffs in its Trust & Safety team, raising concerns about its ability to meet the DSA requirements, according to Bloomberg.
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