I think it’s safe to say that rebranding on the internet and in the real world can often be significant. Domino’s is a great example, not only have they changed their logo massively over the years, but also what they sell to their customers. However, sometimes rebranding can also be just as bad for a company. In this blog, we’re going to discuss where Twitter falls on this spectrum since its recent rebranding.
Twitter and its Journey to Becoming X
The rebranding is no surprise to those who follow Musk, as he has mentioned plans for a comprehensive social platform that offers more than text-based updates.
The new platform, envisioned years ago, incorporates a credibility score to make it easier to spot bots and disinformation.
Instead of creating a new platform from scratch, the purchase of Twitter accelerated the plans for X by three to five years.
According to Yaccarino, X aims to become a universal marketplace for ideas, products, and services powered by artificial intelligence.
The platform, which once transformed global communication, promises boundless interactivity in the future.
However, is this going to plan?
Twitter has cut thousands of jobs since Musk’s takeover, vastly reducing the workforce since November.
Despite the Tesla chief executive’s aggressive efforts to cut down costs of the platform since his takeover, he has faced challenges with revenue. Last month, he reported a 50% drop in advertising revenue, along with a heavy debt load. The platform faces annual interest payments that stand at $1.5bn as a result of the debt it took on as part of last October’s $44bn deal that turned the company private.
According to the Wall Street Journal, the social media company also faces suits claiming more than $14m (£11m) in unpaid bills since Musk took over,
To make matters worse…
Elon Musk, the owner of the app formerly known as Twitter, has said the social media site “may fail”, after a glitch caused pictures posted before December 2014 to be deleted.
In a post on the site, renamed X, Musk said: “The sad truth is that there are no great ‘social networks’ right now.”
He added: “We may fail, as so many have predicted, but we will try our best to make there be at least one.”
Over the weekend, a glitch on the platform meant that the site removed pictures and links on posts made before December 2014. The posts showed broken links instead of the photos and videos that were previously there.
Several users noticed the glitch, with the technologist Tom Coates pointing it out. Coates referred to the glitch as “epic vandalism by Musk” and suggested it could be a cost-saving exercise.
The malfunction came after reports last week that suggested access had been slowed down from X to other social media sites including the Meta platforms Facebook, Threads and Instagram.
Earlier this year, users noticed that they could no longer post or send messages to each other, and saw a notification that said they were “over the daily limit for sending tweets”.
Twitter Conclusion
The takeaway here could be summed up in the saying “Don’t fix what isn’t broken”, However, it’s still a worthwhile note to mention that the story is far from over. Many social media sites and businesses, in general, have had comeback stories when faced with a challenge like this. In conclusion, it isn’t a question of “Will a situation like this occur again?” but instead a question of “how will this be handled?”.
We hope you’ve enjoyed this blog. Be sure to watch out for our future weekly blog releases and thanks for reading!
