Dear readers,
Elon Musk’s social media platform, X, experienced evident disruptions on Monday, 10 March 2025, affecting tens of thousands of users worldwide. The outages began around 6 a.m. Eastern Time, peaking at approximately 10 a.m. with over 41,000 reported issues, according to Downdetector. Users reported difficulties accessing the platform on mobile devices and computers worldwide, with services gradually returning to normal later in the day.
Elon Musk attributed these disruptions to a ‘massive cyberattack’, suggesting that a large, coordinated group or possibly a nation-state was involved. He said, ‘We get attacked every day, but this was done with many resources. Either a large, coordinated group and/or a country is involved.’ However, cybersecurity experts have expressed scepticism regarding Musk’s claims. They note that Distributed Denial of Service (DDoS) attacks, which overwhelm servers with excessive traffic, can be executed by relatively small groups or even individuals without the backing of a nation-state.
Musk further elaborated in an interview with Fox Business’ Larry Kudlow, asserting that the attack originated from IP addresses in the ‘Ukraine area’. This claim has raised eyebrows among cybersecurity professionals, as attributing cyberattacks based solely on IP addresses is notoriously unreliable. Attackers often use proxy servers and botnets across various countries to mask their true location, making definitive attribution challenging.
Either way, the timing of this cyberattack coincides with a tumultuous period for Musk’s business ventures, notably Tesla. Shares of Tesla have plummeted 15.4% to $222.15, their lowest since October. This decline is attributed to waning investor confidence due to the company’s declining global sales. Namely, Tesla experienced its first annual global sales decline last year, with significant drops in key markets such as California, Europe, and China. Analysts foresee a further 5% drop in US deliveries for 2025.
Compounding these financial challenges is Musk’s public alliance with President Donald Trump. Musk has been a prominent supporter of the Trump administration, contributing $277 million to Trump’s campaign and allied Republicans, making him the largest individual political donor in the 2024 election. This alliance has sparked a backlash from Tesla’s predominantly environmentally conscious customer base, leading to protests at Tesla showrooms and acts of vandalism against vehicles.
Furthermore, Musk has been appointed by President Trump to lead the newly established Department of Government Efficiency (DOGE), aiming to streamline federal operations and reduce unnecessary expenditures. Musk’s unconventional approach to this role, including setting up a gaming PC in the Secretary of War Suite at the Eisenhower Executive Office Building, has drawn both attention and criticism. His methods have been described as radical, openly dismissing traditional roles and respect for federal employees and their work.
Conclusions:
First, the convergence of these events—the cyberattack on X, Tesla’s market challenges, and Musk’s deepening political engagements—paints a complex picture of the current landscape surrounding Musk’s enterprises. The cyberattack raises questions about X’s security infrastructure and the potential motives behind such an attack. If a nation-state were indeed involved, it could signify a targeted effort to disrupt a platform influential in global communications.
Secondly, Tesla’s declining stock value means broader concerns about the company’s future performance amid increasing competition in the electric vehicle market. Companies like China’s BYD are emerging as formidable competitors, challenging Tesla’s market share. Musk’s political affiliations may also alienate a segment of Tesla’s customer base, further impacting sales.
Lastly, Musk’s alliance with President Trump positions him at a crucial intersection of business and politics. While this relationship significantly influences policies that could benefit his ventures, it also subjects him to heightened scrutiny and potential backlash. Public perception of Musk is becoming increasingly polarised, which could have additional and lasting implications for his businesses.
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Musk suggested the attack was backed by significant resources, possibly indicating involvement by a large group or nation-state.
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