The name change was, however, not unprecedented. From his actions as the Tesla CEO, Musk has proved that he is a big fan of vertical integration. Right now, the car company has numerous subsidiaries.
The proposed X’s name probably wants to make people recall X.com – Elon’s financial services startup which later merged with Paypal.
Twitter is no longer listed as a public organization. Thus, the stated name change doesn’t have to be reported to the SEC. However, the new name came into light when activist Laura Loomer filed a lawsuit against Twitter and Facebook. Through the stated lawsuit, the political activist wanted to end the hate speech policies of Twitter and Facebook and a few other social media giants.
It’s being said that X will be identical to WeChat – the Chinese all-in-one app for ride-sharing, payments, messaging, food delivery, and a range of other services.
Musk has always praised WeChat for its utilitarian approach. However, the dominance WeChat poses is almost unworkable to replicate outside of China.
The Launch of ‘X’ – Rumors Vs. Reality
While Musk advocates are praising the move of renaming Twitter as the next step to building the almighty ‘X’ app, Elon’s track record is saying something else. The Richie-rich CEO has proposed a lot of revolutionary ideas previously, but they have not been implemented yet.
Presently, Twitter’s engineers are pretty occupied with handling bugs. Numerous Twitter users have reported that circle tweets, which are supposed to reach a select group, are landing on the algorithmically created ‘For You’ timeline.
This somehow indicates that the user’s private posts are breaching containment and reaching irrelevant audiences. This creates room for unexpected and comfortable scenarios.
Besides the bug challenge, Elon Musk’s team is vigorously combating revenue-related issues. The revamped Twitter Blue Subscription has failed to generate the expected profit.