Ripple CTO wants ads on X removed as he advocates for subscription-based social media usage
by Elon Musk in a historic deal last year. One of the main features that has been visible on the platform is its pay-for-verification demand, touted by Musk as a way to support social media in its efforts to maintain free speech.Since the payment demand was instituted, Schwartz said he has been paying and will continue to do so as he believes generating revenue from customers directly forms a superior business model.
The danger Schwartz highlighted with this ad-based revenue model is that it forces the social media platform to collect more data from its users and then present this data to advertisers. The more data collected, the better the ad services, and this can notably infringe on users' privacy. Riding on this, the Ripple CTO said he would prefer a business model where ads are gotten rid of, but the tech veteran noted that he would not be surprised if this were not the case for X, whose ad revenue is still very important.
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