Elon Musk And Tim Cook To Discuss X Revenue Sharing — Dogecoin Co-Creator Says, 'Apple CEO Has Enough Money'

Elon Musk intends to take a stand and seeks a conversation with Tim Cook over the tech giant’s revenue-sharing arrangement with the microblogging site, while the Dogecoin DOGE/USD co-creator adds fuel to the fire, urging Apple Inc. AAPL CEO to share the wealth with creators on Twitter, now rebranded as “X.” 

What Happened: On Wednesday, Musk shared his intention to speak to Apple CEO regarding the implications of the tech giant’s current 30% revenue-sharing policy. The tech billionaire said he would talk with Cook about possibly adjusting the fee to 30% of what “X” keeps.  

The move aims to maximize “what creators receive” on the platform.  

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Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto on “X,” joined the conversation and urged Cook to share more wealth with creators, saying Apple has plenty of money that the company can share with creators.

Musk further said that while the microblogging site had initially said they’d keep nothing for the first year and only 10% after that period, they now promise to keep no percentage until payouts go beyond $100,000. After that also, they’ll take 10%. 

yeah tim apple has enough money! give more to us tim!

— Shibetoshi Nakamoto (@BillyM2k) August 2, 2023

In response to another post, Musk also revealed that a new feature is on the horizon, allowing creators to adjust the price of paid subscriptions.

Yeah, that's coming soon

— Elon Musk (@elonmusk) August 2, 2023

Why It’s Important: There has been a longstanding conflict concerning the 30% commission Cupertino levies from companies to sell their products and services on the App Store and the regulations it imposes on such apps.

According to Apple, its payment system safeguards users against fraudulent activities, thereby ensuring the App Store is a secure platform for use.

Photo Courtesy: Shutterstock.com

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