Elon Musk is rebranding Twitter as "X" to create a super app resembling China's WeChat. He envisions X as an all-encompassing app for entertainment, online shopping, messaging, and updates. The move to kill off the iconic Twitter brand and logo is seen as highly risky, but Musk is determined to accelerate the development of his vision for the "everything app." The letter "X" holds significance in Musk's ventures, associated with SpaceX and his former company X.com (which became PayPal). Elon Musk's erratic behavior has negatively impacted Twitter, leading to concerns about its financial position and vulnerability to competition. Advertisers are wary of promoting their products on the platform due to rising concerns about hate speech and offensive comments. While Musk tried to offset revenue declines with a premium subscription service, it may not be sufficient to compensate for losses.
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00:00 It's Benzinga and here's what's on the block.
00:02 Elon Musk is rebranding Twitter as X to create a super app resembling China's WeChat.
00:07 He envisions X as an all-encompassing app for entertainment, online shopping, messaging,
00:11 and updates.
00:12 The move to kill off the iconic Twitter brand and logo is seen as highly risky, but Musk
00:16 is determined to accelerate the development of his vision for the "everything" app.
00:20 The letter X holds significance in Musk's ventures being associated with SpaceX and
00:24 his former company, X.com.
00:26 Elon Musk's erratic behavior has negatively impacted Twitter, leading to concerns about
00:30 its financial position and vulnerability to competition.
00:32 Advertisers are wary of promoting their products on the platform due to rising concerns about
00:36 hate speech and offensive comments.
00:38 While Musk tried to offset revenue declines with a premium subscription service, it may
00:42 not be sufficient to compensate for losses.
00:44 For all things money, visit Benzinga.com.
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