Since Elon Musk assumed control of Twitter, the social media giant has experienced a series of momentous changes, but his latest decision promises to redefine the platform like never before. Musk intends to bid farewell to Twitter’s iconic blue bird logo, which has long been synonymous with the term “tweet,” and instead, rebrand the platform as ‘X’.
A Look at Twitter’s Evolution Since Musk’s Takeover One of the most significant alterations introduced by Musk was the elimination of Twitter Blue, a prestigious verification badge that was replaced with a paid verification system. This move stirred considerable controversy, with users expressing security concerns and lamenting the loss of their blue badges.
Musk also revamped the verification system by introducing gold and silver ticks for brands and government figures, respectively. However, amidst criticism, the platform later backtracked and reintroduced blue ticks for celebrities to confirm their authenticity.
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Another controversial decision by Musk was to reinstate several high-profile accounts that were previously suspended under the former Twitter leadership. This included rapper Kanye West (Ye), who faced accusations of sharing antisemitic content, influencer Andrew Tate, now imprisoned in Romania on charges of human trafficking, and former US president Donald Trump, who was accused of inciting the Capitol Hill riots.
In addition to these changes, Musk faced backlash for initiating mass layoffs at Twitter soon after the takeover. Nearly half of the workforce was laid off in a cost-cutting measure, and Musk issued a stern ultimatum to employees, emphasizing the need for exceptional performance.
Alongside significant platform changes, Twitter’s advertising business experienced a partial collapse, with a nearly 50% drop in ad revenue, according to Musk’s recent admission. Prior to the takeover, Twitter struggled to convert its influence and popularity into profits, leading to negative cash flow and substantial debt.
In a bid to explore new revenue streams, Musk introduced payments and commerce functionalities on the platform, envisioning an “everything app” that serves as both a social media platform and a payment facilitator.
Despite these endeavors, Twitter encountered technical challenges as Musk fine-tuned the platform, leading to the introduction of new tabs such as “For You” and “Following.”
Twitter’s competition escalated with the recent launch of Facebook parent Meta’s text-based platform, Threads, which quickly gained an estimated 150 million users linked to Instagram. However, user engagement on Threads reportedly declined post-launch, as per data from market analysis firm Sensor Tower.
Amidst Musk’s latest announcement of renaming the parent company as the X Corporation and revamping the logo, numerous influencers have declared their intentions to leave the platform, marking yet another wave of exodus following Musk’s takeover.
As Twitter’s transformation unfolds, the platform’s future remains uncertain. Musk’s ambitious vision for an ‘X’-branded platform indicates a departure from its original identity, sparking both curiosity and apprehension among users and observers alike.