Elon Musk admits X 'may fail, as so many have predicted'

• Elon Musk seemed to suggest that his takeover of X, formerly known as Twitter, could be doomed. 
• The billionaire said Saturday that X "may fail," but that the company would try to succeed. 
• The X owner also claimed that there are "no great social networks right now." 

Elon Musk appeared to admit that his $44 billion takeover of X could be doomed. 

The owner of the platform formerly known as Twitter said Saturday that X "may fail."

"The sad truth is that there are no great 'social networks' right now," he said on X. "We may fail, as so many have predicted, but we will try our best to make there be at least one."