Elon Musk made a wild debut on a new social media app, The Clubhouse, which left the industry in a buzz of excitement.
The Clubhouse is a one-of-a-kind, audio-based social media app with no texting, video, or pictures. The interface is pretty simple; you make an account and log in like every other social network. From there, other users are displayed with numerous virtual rooms with other users in them discussing various topics in each room.
Once you find a virtual chat room that piques your interest, you click on the virtual room and the audio switches on so you can listen in on the conversation topics covered. The atmosphere is relatively similar to a nostalgic live podcast one would tune into on the radio.
Clubhouse currently has more than 200 million users and boasts a value of $1 billion. SpaceX CEO Elon Musk's arrival to the social platform has further validated the app and increased its popularity and revenue.
Musk stunned users when he appeared on "The Good Time Show" hosted by a couple, Sriram Krishnan and Aarthi Ramamurthy, yesterday. Breaking the record of Clubhouse's standard limit, around 5000 people were in the room, which further expanded to pirated streams on other platforms and secondary listening rooms on Clubhouse itself.
A conversation ensued with Elon Musk talking about Mars' colonization and moving on to aliens and memes. Interestingly, next up came the wiring of a monkey's brain to help him play video games. The conversation took a serious turn when it drifted towards the COVID-19 vaccine and Tesla production.
The richest man in the world has a touch of drama and didn't end the chat on a low note. So with a final theatrical spin, Musk called Vlad Tenev, CEO of trading app Robinhood Markets Inc., to discuss the Gamestop fiasco in the stock market.
Elon Musk joining in on Clubhouse caused ratings to skyrocket, leaving many to believe that this was a PR move made by Andreessen Horowitz, a considerable investor in Clubhouse and Robinhood and a notable supporter of Clubhouse. If it was, it turned out to be a success.
However, the app is not monetized yet, since it does not display advertisements or offer paid services. Creators receive funding directly from the audience, as of now. Content creators will find it easy to move on from this app to another if this continues. As we all know, content is king.
CEO of Clubhouse, Paul Davison, has assured that a monetized model would come out soon. "There's so many incredible people who are smart, who are funny, who have domain expertise, who are really just great at bringing people together," Davison said in a Squawk Box interview. "And what we want to allow them to do is to make a living directly on Clubhouse through things like subscriptions and ticketed events and receiving tips from listeners who are happy to pay them directly for the experiences that they're creating for them."
Technology is lush in today's era, and Clubhouse seems to be a potentially significant addition to the pool, at least according to Elon Musk's likes.
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