Musk Vs. Zuckerburg - Battle Of The Social Media Tycoons

lisa cleveland
market insights 06 SEP 2023 - 18:16 820
elon.jpg

In years gone by, business tycoons followed a traditional business model. The term “business tycoon” would conjure images of media billionaires like Rupert Murdoch. In the 21st Century, this media battleground almost exclusively takes place online, and Facebook, Instagram, and Twitter all have much bigger customer bases than any media mogul used to have in the times before the internet.

Although multi-billionaires like Murdoch controlled large sections of television too. Hence, he had a more diverse scope. However, in today’s market, social media rules all, with billions of people using social media daily.

Billionaire Empires
It’s fair to say that Zuckerburg and Musk share similarities in how they have grown their businesses from promising start-ups to global dynasties. It takes more than just one successful business idea to stay on top, though, and as they have both proven, they have been savvy enough to distribute their investments after hitting it big with their initial projects. One area where there’s a shared interest is in cryptocurrency, with Musk investing significantly in Bitcoin and Zuckerburg trying (and failing) to establish his own token that people could use while they were on his social media sites.

Bitcoin has turned into its own multi-trillion-dollar investment, with the security and revolutionary peerless payment system proving to be a hit with investors worldwide. It has flourished and birthed several ingenious industries that use the immense advanced technology of blockchain to springboard themselves into niche areas of profitable enterprises. We’re witnessing changes in several prosperous and established industries, ranging from healthcare to the casino sector.

The fact it can profoundly impact such different sectors should indicate just how revolutionary and innovative this technology truly is. Cryptocurrency casinos are sculpting their own section of the market by tailoring their services for Bitcoin investors and casino gamers. While initially, it was uncharted terrain, the response from customers who benefit from the secure, frictionless payments that crypto casinos offer is helping to prop up and legitimize the industries more in the ideas of casual retail investors.

If you can play poker or blackjack with Bitcoin, this is a clear use case for the technology and helps onboard people who may have originally been dubious. Online casino roulette is just one section of the gambling sector that investors have been sitting up and paying attention to. Entrepreneurs and venture capitalists are always eager to find the next significant digital investment. So long as being able to play blackjack with Bitcoin is a more convenient way to play than at a traditional casino, this trend could continue rising favorably for crypto casino operators.

Musk With the Upper Hand?
Zuckerburg’s attempt to establish his cryptocurrency project didn’t take off as he had hoped. On the other hand, Musk seems to single-handedly dictate the market movements just with a few tweets back in the turbulent and volatile 2021 bull run. It’s not just this area where he seems to have gained the edge on his rival. The South African billionaire is rebranding Twitter to X and looking to change the website into a place where you can do anything without going to another app.

There have been whispers that Musk will be implementing a cryptocurrency payment system on X. This tool will enable you to send your cryptocurrency to your friends, as well as make phone calls and write long-form tweets. Zuckerburg recently introduced “threads” to Instagram, which shares many similarities with a Twitter feed. Despite getting off to a strong start, the number of people using it has dwindled considerably.

Both billionaire visionaries know that one slip could give the other the upper hand. Even a minor cybersecurity issue on any of their prominent business sites could spell disaster, so ensuring they stay ahead with the latest business ideas and cybersecurity is vital.

A Potential Dust Up?
Many news outlets have reported that Elon and Mark are set to participate in a literal fight. Musk has already announced that the fight will be live-streamed on X, but Zuckerburg has already stated that he is dubious the proposed bout will materialize. On paper, the Meta CEO clearly has the upper hand. He is much younger, regularly practices Jiu-Jitsu, and looks much better physically than the South African.

However, as they say in boxing, styles make fights. It looks like this battle has gone from two business magnates dueling theoretically over big business plans to climbing into the ring and settling the score for real. Celebrity fights seem like a big deal at the moment, with YouTuber Jake Paul masquerading as a professional boxer and Tyson Fury, an actual boxer and world heavyweight champion, fighting an MMA champion.

The truth is often stranger than fiction, and while it is unlikely the bout will actually happen if it does, it will draw considerable numbers and bring a lot of attention to both men.

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lisa cleveland
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