Since Elon Musk acquired Twitter, the platform has undergone a radical transformation. Now known as X, Musk envisions it as more than just a “digital town square.” In fact, he wants X to be a one-stop-shop that can compete with YouTube, LinkedIn, FaceTime, dating apps, and even the banking industry. Musk believes that X has the potential to become “the everything app.”
The process of turning Twitter into X has been messy and challenging. Musk’s antics have caused many of the platform’s biggest advertisers to flee, and the X Premium subscription has failed to gain traction. Additionally, the company is still not profitable, and its valuation is sinking. However, Musk remains optimistic about X’s potential for innovation and growth, stating that it is the fastest rate of innovation he has ever seen in an internet company.
In an all-hands meeting with X employees, Musk and CEO Linda Yaccarino expressed gratitude for the hard work and accomplishments of the past year. Yaccarino, who joined the company 16 weeks ago, emphasized the scope of X’s ambition and the unparalleled pace of innovation within the company. She praised the X team for their resilience and their ability to push against legacy systems to create something meaningful that helps humanity thrive.
Musk echoed Yaccarino’s sentiments and highlighted the rapid transformation of X from Twitter 1.0 to the everything app. He emphasized the need for a single application that encompasses all features, including payments, messaging, video calling, and more. While acknowledging the existence of similar apps like WeChat in China, Musk believes that X can ultimately surpass them in terms of functionality and innovation.
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During the meeting, Musk and Yaccarino discussed the recent accomplishments of X, including the launch of audio/video calling and significant improvements to video capabilities. They highlighted the fact that X now allows users to upload long videos, including entire movies. Musk also mentioned that Apple uploaded an entire episode of a show on X, which became the biggest social media event in Apple’s history.
Yaccarino added that X has experienced a 70% growth in the last six months, largely driven by Gen Z users. She emphasized the strides X is making in terms of immersive video products and vertical videos. These advancements have caught the attention of many users and have positioned X as a platform with immense growth potential.
In conclusion, Elon Musk’s acquisition of Twitter and subsequent transformation into X has been a complex and challenging endeavor. Despite some setbacks, Musk remains optimistic about X’s ability to innovate and compete in various industries. With its ambitious goal of becoming the everything app, X aims to revolutionize the way users interact and engage with digital platforms. The company’s dedication to transparency and its commitment to pushing boundaries make it an exciting player in the tech industry. As X enters its second year, the world eagerly awaits to see how it will continue to evolve and disrupt the digital landscape.
