Late Saturday night, Elon Musk dropped a hint about an upcoming transformative change for Twitter – bidding farewell to its iconic blue bird logo, which has been synonymous with the word “tweet” since its inception. Ever since Musk took over the reins of Twitter, the platform has undergone several significant alterations, and his latest move is set to redefine Twitter like never before, rebranding it as ‘X’. Let’s take a closer look at the notable changes that have occurred under Musk’s leadership.
One of the most conspicuous changes Musk introduced was Twitter Blue, a paid verification system that replaced the previous blue badge of legacy verification. This move generated considerable outcry, as some raised security concerns and others bemoaned the loss of their coveted blue badge.
Moreover, Twitter underwent further modification with the introduction of gold and silver ticks for brands and government figures, respectively. Notably, the platform performed a U-turn by reinstating blue ticks for celebrities to signify their authenticity.
Elon Musk’s decision to reinstate several high-profile accounts that were previously suspended by the former Twitter leadership caused significant controversy. Among them were figures like rapper Kanye West, who faced accusations of sharing antisemitic posts; influencer Andrew Tate, now serving a prison sentence in Romania on human trafficking charges, and former US president Donald Trump, accused of instigating the Capitol Hill riots.
The takeover also saw Musk initiate mass layoffs at Twitter, resulting in nearly half of the workforce being let go as a cost-cutting measure. He further issued an ultimatum to employees, stressing the need for exceptional performance and hardcore dedication.
In the wake of these substantial changes both on the platform and within its offices, Twitter’s advertising business suffered a significant blow, with ad revenue plunging by nearly 50%. Musk acknowledged the company’s existing financial struggles, including negative cash flow and a heavy debt burden.
To address the revenue generation challenge, Musk introduced payments and commerce features, envisioning Twitter as an “everything app” that facilitates peer-to-peer transactions alongside its social media functions.
While Twitter boasts an estimated daily active user count of nearly 200 million, it has faced technical snags since Musk’s takeover, resulting in various platform adjustments, including the “For You” and “Following” tabs.
Facing increased competition, Twitter now contends with Meta’s newly launched text-based platform, Threads, linked to Instagram. Despite attracting approximately 150 million users, the time spent by users on Threads has plummeted since its launch, according to market analysis firm Sensor Tower.
As Musk gears up to change Twitter’s name and logo, numerous influencers have declared their intention to leave the platform, adding to the exodus that followed Musk’s initial takeover.
Already, Musk has renamed Twitter’s parent company as the X Corporation, and he is on the hunt for a suitable Art Deco-style emblem for the rebranded platform. Under the new identity, a post will be referred to as “an X.”
Elon Musk’s tenure at Twitter has been marked by significant changes, from the introduction of Twitter Blue and revised verification systems to mass layoffs and a shift towards revenue-generating features. The upcoming rebranding to ‘X’ is poised to shape the future of the platform, as Twitter continues to navigate the ever-evolving landscape of social media.