Twitter announced over the weekend that it will retire its longtime bird logo and change its name to "X," with the shift taking place this morning.
The Washington Post wrote that the move came after Twitter owner Elon Musk, who bought the company for $44 billion but has seen its value plummet as advertisers abandoned the site in droves because of its shifting attitudes about content moderation and misinformation, said that the change was part of his efforts "to overhaul the company."
Here's how the company's new CEO, Linda Yaccarino, promoted the shift on Twitter/X:
Yaccarino also said on the site that “X is the future state of unlimited interactivity,” including payments and the buying and selling of “goods, services, and opportunities” that will be “powered by AI.”
The New York Times writes that "'X' is a term for what Mr. Musk has described as an 'everything app' that could combine social media, instant messaging and payment services, akin to the popular Chinese app WeChat."
- KC's View:
I'm sure that this move will be hotly debated - does it make sense to change the name, which may be one of the company's best assets? I would argue no, but I could be proven wrong as events unfold.
Scott Galloway made the funny - and accurate - observation that one effect of the Twitter/X rebrand was to make the HBO Max/Max rebranding now the second worst rebrand of the year.
Musk can do what we wants. He owns the joint. (His bankers may disagree, of course.) But he's also demonstrated the impulse control of a 12-year-old boy who has eaten way too much sugar, and so I'm not persuaded that he's making this move out of anything other than ego. In fact, I suspect that this will do little to bring back advertisers.
By the way: Is a Tweet no longer a Tweet? If not, what the hell is it?