Remember when the Twitter takeover was the talk of the town? Well, if you remember how it all started, you might also remember that most tech experts saw it as the acquisition of the decade.
A famous tech billionaire standing up for freedom of speech and splurging his big bucks on the purchase of a social media company to make it better. What’s not to like? Musk was known as Robin Hood of the internet for this act. He was called a walking idea-generator, earning his reputation as a fearless tech fighter who was willing to do anything for the sake of tech dominance. Users were happy that a good stable internet connection like Xfinity and a smart device was offering them a platform to directly interact with officials.
Musk was known as the next Steve Jobs for the past few years. Therefore, when he took over Twitter, everyone thought the dog days of Twitter were over. Fast forward, two years later, Musk offended investors, customers, and rivals, got into legal battles, and eventually landed Twitter into oblivion where it is waiting for its death.
On the contrary, the former Twitter CEO Jack Dorsey developed something similar to Twitter, attracting a wider audience and becoming the most interesting tech experiment by far.
Just like most readers, you might have many questions. What is wrong with Twitter or X? Is the CEO becoming bigger than the brand itself? Why is Twitter losing its charm?
If you are curious, keep reading as we are going to address it all.
What Is Wrong With Twitter Or X?
X, formally known as Twitter, was known to be the second biggest and most impactful social media site before it was taken over by Musk. Back when Musk took over, the company was already going through a rough patch because regardless of its established name, it was failing miserably to make a profit. The company was too big to stay sustainable and users were becoming vocal about freedom of speech.
When Musk took over, he made some promises that were too good to be true. From not censoring anything to making sure X turned into an official channel for celebrities and politicians, he did it all. However, soon after Musk realized that maybe the business model of Twitter was not sustainable and so the endless loop of cutting back on expenses and an aggressive profitable approach began.
Today, X is becoming a grave of dead accounts where people come to rant about X itself. X has failed to retain its users; the name X in itself remains debatable to this day, basic features that made X stand out are now paid and to the cheery on the top, Musk has failed to groom X towards a sustainable business. To make matters worse, he removed features including X space and an endless X feed that was a big hit earning the social media giant a good reputation.
Today, X has multiple rivals that are doing better and the net worth of the social media platform is far less than what Musk paid just a few years ago.
Is The CEO Becoming Bigger Than The Brand Itself?
While most people aggressively advocate the impact of leadership for a brand, hardly anyone talks about the disastrous effects of becoming bigger than the brand. Musk has gained a serious reputation because of his billionaire status in tech and some exceptionally well-performing businesses under his belt. So, when he took over Twitter, the stakes were high and all eyes were glued to him rather than the platform.
Within just a few months, Musk eliminated a major chunk of the workforce within Twitter, offended a lot of users as well as the brand with his offensive opinions, and had some bones to pick with his rivals. From his legal proceedings that cost him major bucks to brands that pulled out because of his harsh opinions, it was a downhill all thanks to the CEO.
Today, Musk is known as a very controversial figure in tech with more enemies than ever. His not-so-neutral opinions have impacted business and in the long run, it seems that this multi-billion unicorn that was loved by all will die a very painful and miserable death. Now offended users and brands are seeking refuge in other similar platforms like threads and BlueSky.
Was it a planned trash dump by Jack Dorsey?
As X is losing its charm, the former CEO of Twitter has planned something incredible. He has built a community that loathes the idea of data breaches, big tech, and corporate lies while befitting from it. Jack, right after his exit, started BlueSky, a similar platform that does not scrap users’ data and has a decentralized approach.
Moreover, users can now customize their moderation by using Ozone – a data protection service offered by Bluesky. Tech experts claim that Dorsey was able to capitalize on his dying app opting to unload his liabilities on an eccentric billionaire with a deep pocket and Musk was a perfect fit.
Today, Dorsey has a lot of money, thanks to the Twitter deal, and a stable app with a lot of users thanks to late movers’ advantage. Making him the only tech expert who holds the first mover and late movers’ advantage simultaneously.
Wrap Up
Simply put, Twitter is nearly dead but its competitors or market interest change has nothing to do with its death, its new CEO has killed it. Today, the survival of Twitter is only possible with drastic adjustments not just in terms of features but also in terms of management and leadership policies.
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