Value of X Falls by 71%; UK Gov Will Require Ecommerce Platforms to Report User Earnings; Ads Arriving to Amazon Prime Video
by on 5th Jan 2024 in News
This week on the Stack: Value of X Falls by 71%; UK Gov Will Require Ecommerce Platforms to Report User Earnings; Ads Arriving to Amazon Prime Video…
This year has got off to a bad start for X, which has found itself in a precious position following events from 2023. The platform’s value has fallen immensely, dropping by 71.5% from when it was bought by Elon Musk in October 2022.
This week we also saw the UK government announce a measure to further regulate ecommerce platforms – going ahead, they will be required to report user earnings to HM Revenue and Customers, with the goal of collecting tax revenue on income from used-goods. Users earning less than £1,000 from goods will be exempt from taxation.
Looking ahead, the next couple of months will bring about Amazon’s launch of ads on its Prime video service. UK customers will have to pay a fee of £2.99 per month to avoid seeing ads.
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