Hi everybody and welcome back to another episode of the Elon Musk
Podcast. At today's episode, we delve
into the transformation of X, the company formerly known as
Twitter, and the vision of his new CEO, Linda Yakorino.
And since its acquisition by Elon Musk, X has embarked on a
crazy journey aiming to redefine social media as an everything
platform. Now from introducing video chats
to embracing long form videos, creator subscriptions and a I
powered Ed tech, X is striving to be a real time global town
square. Now, however, the path towards
innovation is full of challenges.
Financial struggles, ethical dilemmas, legal battles and
public perception are some of the hurdles that X must
overcome. And we'll explore Yakorino's
leadership strategies and Musk's role in reshaping the platform,
as well as dissect the controversies and promising
opportunities that lay ahead for X CEO Linda Yakorino's vision
for X extends beyond microblogging.
She's working to transform the platform into an Everything app,
a concept that aims to seamlessly integrate various
forms of media, communication and transactions within one
platform. Now, Yakorino confirmed the
video chat will soon be introduced as part of the
transformation, stating soon you'll be able to make video
chat calls without having to give your phone number to anyone
on the platform while entering the crowded video chat market.
As a bold move, X sees it as a step towards becoming a real
time global town square. The company is reimagining
itself as a hub for multiple activities including long form
videos, payments, greater subscriptions and interactive
video experiences. One of X's first significant
forays into new territories was the long form.
Video subscribers can now upload videos up to two hours long now.
This move caters to both advertisers like Apple, which
use the platform to promote its series silo, and content
creators who were given new opportunities to engage with
their audiences. X also began paying content
creators who have significant followings, turning itself into
a platform that rewards creativity and influence.
Now Yukarino views this as part of X's evolution past, a legacy
mindset allowing for reimagining of how people interact and
transact online. The optimism expressed by
Yacorino about X's future is backed by a strategic approach
focusing on advertising, data licensing and new business
ventures. And Yacorino, with her expertise
in advertising, is driving innovations within the company.
She's spearheading efforts to integrate AI powered ad tech,
providing brands with greater control over ad placements.
By offering options to brands regarding the content their ads
are placed alongside, Yaka Reno hopes to create a more
personalized and strategic advertising experience.
They said our data licensing and API with X is an incredible
business. Our new subscription business is
growing. This statement underscores the
CEO's belief in diversifying revenue streams and creating
robust business models that extend beyond traditional social
media functions. And despite the optimistic
outlook, X faces a multitude of challenges that need careful
navigation. Yakirino's claimed that X is
nearing a break, even pointless noteworthy especially
considering the significant financial struggles since its
acquisition by Elon Musk. Ad revenue is in decline and the
company has implemented measures such as limiting rates for non
subscribers of Twitter Blue and hiking API access fees to boost
cash flow. X's move to reduce its staff
size without fulfilling promises of three months severance for
laid off employees raises ethical and legal concerns.
Additionally, the company is embroidled in lawsuits over
unpaid rent for office spaces across several countries, and
Yukarino's assertion that 99.9% of posted impressions on X are
healthy has drawn scrutiny. Her stance on freedom of speech,
not freedom of reach, raises questions about the platform's
responsibility and approach to moderating content with public
figures known for controversial opinions.
Returning to the platform, Yakarino's ability to address
these concerns will be closely watched now.
Yakarino's vision for X represents a huge attempt to
redefine social media for video chats and long form content to a
diversified approach to revenue generation.
X's feature looks to be a blend of innovation and expansion.
However, this promising future is not without the obstacles,
financial struggles, legal troubles, and questions about
content moderation and Yacorino's leadership, strategic
approach and ability to navigate these challenges will really
determine X's success in this transformation.
And as Yacorino continues her daily meetings with brands and
pushes for innovations and advertising and business models,
her leadership will be tested by the complex landscape of social
media and for tech. And the CEO's ability to align
the company with its rebranded identity X and guided towards
the vision of an everything app will be crucial for the future.
Now, the journey for X under Yacarino stewardship is akin to
a carefully plotted course through turbulent waters.
The integration of various services into a single platform
presents both opportunities and risks.
The road ahead is full of potential pitfalls, but the
destination, if reached, could redefine the way we interact
online and Yacarino's own words, she said.
We'll see if that cage match really does happen.
The same can be set for X's transformation.
Many will be watching to see if these plans translate into a
tangible success for the platform.
Now. X's metamorphosis, guided by
Yacarino, is still unfolding and the outcome is uncertain.
But the potential is huge. So if you want to stay up to
date with this story and all other Elon Musk's stories,
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Thank you so much. Everybody take care of
yourselves and each other and I'll see you in the next one.