In a surprising twist, Linda Yaccarino, CEO of X (formerly Twitter) recently announced that the company is on the brink of profitability, a feat that seemed unattainable for the platform not too long ago.
X Post Acquisition: A Disruptive Transformation
Yaccarino stated that “from an Operating Cash Flow perspective, Twitter is at a breakeven point and is poised to reach profitability in early 2024. What’s even more encouraging is that 90% of the top 100 advertisers have returned to the platform, and in the past 12 weeks alone, about 1,500 have come back.”
Elon Musk’s acquisition of Twitter was characterized by bold measures that rocked the company to its core. Musk initiated a major staff overhaul, streamlining operations and making tough decisions. He also dismantled the controversial censorship mechanisms within the company, a move that garnered significant attention.
Under Musk’s leadership, X underwent a significant facelift. The once-familiar verification checkmark was revamped, and a robust monetization model was introduced, incentivizing content creators and fostering a censorship-free environment. Also, X embarked on an astonishing product launch spree, introducing over 100 new features and enhancements since the acquisition.
X’s commitment to creators was unwavering. The platform allowed content creators to thrive, providing them with an opportunity to make a living while expressing themselves freely. Furthermore, the company underwent a complete rebranding, sparking a wave of citizen journalism.
These audacious measures were not unnoticed, and the consequences speak for themselves. Yaccarino highlighted that X witnessed a spectacular rise in user engagement, with 550 million monthly active users and an astonishing 250 million daily active users. Additionally, video content on the platform saw a remarkable surge, with views doubling compared to the previous year.
Media Bias on Elon Musk Exposed
Throughout this transformative journey, X and Elon Musk faced unwarranted criticism from certain sections of the media. However, this adversity only served to highlight the growing irrelevance of traditional media outlets in the face of new media paradigms.
Headlines such as “Elon Musk wants a second chance to fail at X” from The Verge, “Is time up for Twitter?” by BBC, and “Twitter Glitches Pile Up as Key Features Fail” in The New York Times exemplify this bias, according to Yaccarino.
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