Just when we thought the Twitter/Musk chronicles had settled and a balance had been struck between the CEO’s personality and the company’s profitability, Elon Musk surprises us yet again with what could be the ultimate bold decision for Twitter. Perhaps drawing inspiration from Facebook’s rebranding, Musk is set to completely rebrand the social media platform, giving it the new name “X” while also enhancing its capabilities.
The rationale behind this change stems from the recognition that Twitter has evolved beyond its origins as a simple bird symbol. Musk envisions a platform capable of much more, almost resembling a superhero in its capabilities. However, amid the excitement and chaos surrounding this shift in Twitter’s direction, several issues have caught the attention of the media. These concerns may potentially hinder the execution of Musk’s ambitious plans.
Firstly, the letter X has already been trademarked by other platforms. Therefore, if Elon Musk proceeds with his new strategy, he could potentially face legal actions from companies that hold the rights to this name for their own brands. Secondly, a radical change of image for Twitter could be seen as a risky move, akin to a kamikaze approach for the brand. Altering attitudes and perceptions about a platform, solely from a marketing perspective, poses a significant challenge for brand developers. “To tweet” has become a common word, something that has an incredible brand value, like “to google”. Perhaps, instead of trying to change Twitter as it currently exists, it might be more advantageous for Elon to consider creating an entirely new platform altogether.
Certainly, he undoubtedly has given thought to this alternative. Nevertheless, there is some skepticism surrounding its potential to become the ultimate solution for Twitter’s revival. Yet, if we momentarily set aside our doubts and focus on the potential alterations that could be implemented, the possibility of Twitter’s evolution becomes more debatable. This change could lead Twitter to transition from a mere social media platform to an all-in-one platform with expanded functionalities. There have been speculations suggesting that Twitter/X is considering transforming into an app similar to existing models like WeChat. Initially designed as a free chatroom, WeChat evolved into an all-in-one platform, offering services such as taxi booking, in-house payment methods, and even appointment scheduling with doctors or paying your taxes. WeChat never changed its name, by the way.
It seems Elon Musk may be exploring a similar path creating an empowered platform that extends beyond the boundaries of traditional social media. The idea of integrating services like payment methods, hiring options, and communication while tweeting is undeniably practical, but it’s also an ambitious endeavor. For starters, it will require agreements with all service providers to define communication standards (APIs) to automate communications, as well as drafting economic agreements for revenue sharing. Achieving this would require significant time and a complete overhaul of the platform. Considering the hefty investment of 44 billion dollars, some argue that it might be time to cut costs instead.
Indeed, the current situation leaves us waiting to see whether Elon Musk can successfully retain the name “X” and fully adopt it for his new platform. Despite Musk’s apparent lack of concern and the utilization of the new logo and name, this abrupt change may have caught users off guard, making it difficult for them to grasp the news of Twitter’s transformation. And such a rapid and unexpected shift could pose a challenge for the brand. No matter how practical or numerous the updates Musk introduces on Twitter, the ultimate success of this new strategy hinges on user satisfaction. If users are not content with the platform’s new direction, all these efforts and changes could end up being in vain.
Once more, the ongoing controversy surrounding Musk’s management style persists. Users appear to be growing accustomed to, or weary, of these frequent mood swings from the CEO of Twitter/X. Nevertheless, from our perspective, it seems that this could mark the final tipping point for Musk’s platform on Twitter. One way or the other, this may well be the end of an era for Twitter.