 "'Soon we shall bid adieu to Twitter brand,' Musk plans to rebrand platform")
"And soon we shall bid adieu to the twitter brand and, gradually, all the birds," Musk tweeted.
"If a good enough X logo is posted tonight, we'll make go live worldwide tomorrow," he said in another tweet.
For quite some time now, the billionaire has been contemplating the name 'X'. Back in April, when welcoming the new CEO, Linda Yaccarino, he expressed his excitement about collaborating with her to transform the platform into 'X', the all-encompassing app.
Since being acquired by Tesla tycoon Musk last year and undergoing significant staff layoffs, Twitter has been plagued by recurrent technical issues. Coupled with a steady decline in ad revenue, the social media company has been desperately making numerous last-resort efforts to revive the platform.
For quite some time now, the billionaire has been contemplating the name 'X'. Back in April, when welcoming the new CEO, Linda Yaccarino, he expressed his excitement about collaborating with her to transform the platform into 'X', the all-encompassing app.
Since being acquired by Tesla tycoon Musk last year and undergoing significant staff layoffs, Twitter has been plagued by recurrent technical issues. Coupled with a steady decline in ad revenue, the social media company has been desperately making numerous last-resort efforts to revive the platform.
Despite the ongoing financial losses, the company is exploring alternative business models to reduce reliance on advertising. One such attempt is the introduction of the premium subscription service called Twitter Blue, priced at $8 per month. However, this subscription hasn't gained much traction. In a bid to incentivise engagement, Twitter has now started sharing a portion of ad revenue with some Twitter Blue subscribers based on their tweet interactions. This approach particularly benefits accounts that frequently engage with Musk himself.
Elon Musk's mention of Twitter's rebranding comes shortly after his announcement about founding a new artificial intelligence company, xAI, which he claims will have the ability to "understand the universe."
In recent times, Musk has been vocal about his criticism of companies like OpenAI and Google for developing AI technology without adequately considering the potential risks it poses to humanity. It was after expressing these concerns that he announced the formation of xAI.