The Dollar Still Has Its Mojo. X, Not So Much

Krugman’s analogy between the dollar and X (formerly Twitter) overlooks how platforms like Twitter thrived not just on network effects but as tools for shaping public discourse—now shifting under Musk’s leadership toward a new phase of institutional alignment.

Mostly, just a little more evidence that the switch from X to Bluesky is going pretty mainstream.

X remains the central hub where most of the action takes place. I believe that if it were to disappear, it would eventually be replaced. For now, however, it continues to be a gathering place for many people, including media representatives and individuals from various governments. It is simply the most centralized location for everyone to connect.

Bluesky may have potential, but it operates on a different model that makes collaboration more challenging, and not everyone can easily access or view others' posts. Unfortunately, X is not going to be replaced by Bluesky anytime soon.

What surprises me the most is that Musk has transformed what was once a successful platform into a struggling one. I understand that he had to cut a lot of staff to reduce expenses. But, he has positioned himself as the central figure for criticism. He didn’t have to do that, which is very strange. I suppose ego gets in the way.