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.  

See Also: Apple CEO Tim Cook Finds Clarity Using This Strategy: It’s A ‘Palate Cleanser For The Mind’

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%. 

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.

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

Check out more of Benzinga’s Consumer Tech coverage by following this link

Read Next: Elon Musk’s Iron Fist, ‘It’s Complete Terror’ Says Expert Vs. Tim Cook’s Consistent, More Tempered Approach

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSocial MediaTechApp StoreAppleBilly MarkusConsumer TechdogecoinElon MuskShibetoshi NakamotoTim CooktwitterX
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!