Twitter Becomes X: What changes will happen to Twitter under new CEO Linda Yaccarino
Twitter Becomes X: What changes will happen to Twitter under new CEO Linda Yaccarino
Elon Musk recently confirmed that Linda Yaccarino, an ad executive from NBCUniversal, and one fo the industry’s best will assume the role of CEO at Twitter. Furthermore, Musk expressed his excitement about transforming the company into an all-encompassing app called “X,” a concept he has cherished for a long time.
Musk tweeted about his anticipation of working with Linda to make this platform into X, which he envisions as an app that encompasses everything. However, there are questions about the extent of X’s capabilities and the rationale behind choosing the name “X.”
Linda, on the other hand, is expected to bring advertisers back to Twitter, given how Twitter Blue isn’t generating even half of the revenue that Musk had hoped it would. So how will Twitter transform under the new CEO and what will happen to Musk’s ambition with X?
Musk’s fascination with an “everything app”
Musk’s fascination with the potential of X.com dates back to the late 1990s when he, along with co-founder Greg Kouri, launched the website as an online banking startup. Kouri, a real estate developer and a friend of Musk’s parents, joined him in this venture.
However, Musk lost control of X.com when it merged with its fierce rival Confinity in 2000, resulting in the creation of PayPal and Musk’s subsequent financial success. In July 2017, Musk bought the X.com domain back from PayPal, stating that it held significant sentimental value for him.
Musk also recognizes the immense financial value in X, as he believes the symbolic significance of the versatile mathematical variable will assist him in creating the ultimate app that caters to all aspects of human interaction.
A payment platform
During the All-in Summit last year, Musk admired Tencent’s WeChat, an enormous social media app in China that encompasses messaging, video chatting, video games, photo sharing, ride services, food delivery, banking, and shopping.
Musk remarked that if you’re in China, WeChat becomes an integral part of your daily life. He described it as a comprehensive platform that combines the functionalities of Twitter, PayPal, and numerous other services into a single app with a user-friendly interface. Musk acknowledged WeChat as an exceptional app and the need for a similar offering outside of China.
Considering Twitter’s recent expansions into payment features, it is evident that Musk’s vision for X.com aims to create an American counterpart to WeChat, providing a comparable array of internet services and features.
Taking on WhatsApp – First DMs, then voice and video calls
In a recent tweet, Musk announced that Twitter is actively developing new features that will allow users to engage in voice and video chats using their Twitter handles. Musk emphasized that this development would enable individuals to communicate with people worldwide without the need to share their phone numbers.
Also read: Elon Musk planning to replace ‘unreliable’ WhatsApp with Twitter 2.0
This move by Twitter could potentially enhance its competitiveness against Meta, a major social media competitor. Meta currently offers video chat services through platforms like Facebook Messenger and WhatsApp, catering to its vast user base of billions of people around the world.
Musk also went on attack WhatsApp, saying that the Meta-owned messaging app can’t be trusted when a Twitter engineer pointed out that the app would often listen in on him, even when the device it was installed on, was not being used. Musk clearly, is gunning for the position that WhatsApp holds globally as an IM, video call and voice call service provider
Possibly a dating and even a hiring portal?
Musk has responded to his fans’ suggestions of incorporating dating app features into Twitter, which was proposed by YouTuber Steven Mark Ryan as a potential solution to Musk’s concerns about declining birthrates. While it is unclear whether Musk was being serious or not, he entertained the idea. He responded by tweeting, “Interesting” and also suggested the possibility of including job-related features as well.
Musk’s response indicates that he is open to exploring new ideas and expanding the functionalities of Twitter beyond its current scope. However, it remains to be seen whether these suggestions will be implemented as actual features on the platform.
Newsletters, podcasts and broadcasting – A new media destination
Under Musk’s leadership, Twitter has made attempts to enter the paid newsletter market, directly competing with Substack, the market leader. Twitter has introduced payment and subscription services, aiming to attract aspiring content creators to its platform.
However, Musk has larger ambitions for Twitter beyond being just a microblogging platform for discussing media happening elsewhere. He envisions transforming Twitter into a media destination in its own right.
While Musk has publicly denied striking a deal for former Fox News host Tucker Carlson to bring his show to Twitter, it is evident that he has been encouraging media personalities to join the platform independently, relying on their own funding and initiative. Musk even reached out to Don Lemon, a former CNN host who was ousted, suggesting that he consider bringing his show to Twitter, highlighting the platform’s significantly larger audience as a potential benefit.
Undoubtedly, aiming to deliver “everything” is an incredibly ambitious and challenging goal. To succeed, X would need to outperform established competitors in various sectors, including mature markets like dating apps.
While sentimental value holds significance, X.com must transcend being solely a passion project if it is to thrive once again. It will require a strategic approach, innovative solutions, and a comprehensive understanding of market dynamics to effectively position X as a dominant player in the industry. Merely relying on emotional attachment may not be sufficient for X.com to regain its prominence.
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