There have been years in which Elon Musk has had the idea of developing a super app, that is, a mobile application that would replace many of the online services that we use today with a single application. Essentially, what they are looking for is a social network application that can also be used for voice calls, payment, etc., something similar to WeChat, the chatting application used in China.
The CEO even thought about launching this brand-new app, but he instead decided to spend $44 billion and buy Twitter instead to launch this brand new app. In the immediate aftermath of taking over the company, he began making major changes to the network, as well as making layoffs throughout the organization.
There were negative effects on the company's revenue due to these changes, as advertisers immediately stopped advertising on that platform, at least for a period of time. The following is an excerpt from a statement made by Linda Yaccarino.
Musk is incredibly busy, as he runs Tesla, SpaceX, and Neuralink, and he also spends part of his working time managing these companies. In an interview with CNBC, Linda Yacarino explained the reasons behind the major rebranding of the social networking site, and recently assumed the position of Twitter's executive director.
X and Twitter
The first thing you should be aware of is that Twitter has recently become an X platform, and with that comes a new icon on all smartphones that replaces the Twitter icon with an "X". The reason behind the network's renaming was explained by Yaccarino to reporters on CNBC last week during a conversation about the network's history.
According to her, when she accepted Musk's invitation to become CEO, she approached the company to assist him in transforming and rebranding it into the X platform. According to her, there are several changes taking place on the platform, including, as she mentioned, new experiences and evolutions into longer videos and articles, subscriptions to favorite creators who are now earning money from the platform as well as video calls and the possibility of paying between users as well as direct payments to creators.
Her discussion explained, among other things, why Twitter needed to change its name and undergo a complete rebranding in order to become a super application, or why Twitter couldn't do the same. As a result of the rebranding, they were liberated from Twitter's legacy and way of thinking.
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