Elon Musk was warned that his blue ticks for $8 plan could backfire, especially when it comes to impersonations. Back then, Musk casually remarked that the impersonators would lose their money. However, it turns out that $8 was hardly a cost when impersonators masquerading as real people or companies could cause losses into billions of dollars by giving out fake information. Several companies, including Musk’s Tesla and SpaceX, became target of impersonators. All this chaos and mayhem unleashed with the $8 idea saw influencers, companies being impersonated with very real world consequences, and just like the Fake Tesla account creator said, Twitter dropped its ‘premium service of blue ticks’, when the verified fake accounts got out of hand.
