It’s been just over 18 months since Elon Musk completed his $44 billion takeover of Twitter, and I think it’s fair to say that things haven’t exactly gone smoothly. What was once one of the world’s most recognisable social media platforms has undergone a series of enormous changes, from mass redundancies and controversial policy decisions to the rather bizarre decision to throw away one of the most recognisable brands on the internet.
And yet, despite all this, Twitter (or X, as we’re apparently supposed to call it now) is still very much alive, with millions of people continuing to use it every day.
So what’s actually going on, and where does Musk intend to take it?
The Takeover
When Musk first announced his intention to buy Twitter in April 2022, the reaction was understandably mixed. Some people welcomed the prospect of one of the world’s richest men taking control of a platform he claimed had become too restrictive of free speech, while others were concerned about what his approach to content moderation might mean.
The acquisition itself was something of a soap opera, with Musk initially agreeing to buy the company, attempting to back out of the deal, and eventually completing the purchase in October 2022 after Twitter took legal action to enforce the agreement.
Almost immediately, things began to change. Thousands of employees were made redundant, including many involved in content moderation and platform security, while Musk introduced a series of new policies that appeared to change almost as quickly as they were announced.
To be fair, Twitter wasn’t exactly a hugely profitable business before the takeover, and reducing costs was always likely to be part of Musk’s strategy. However, the speed and apparent unpredictability of the changes left plenty of people wondering whether there was actually a coherent plan behind them.
Why on Earth Did He Change the Name?
Perhaps the strangest decision came in July 2023, when Musk announced that Twitter would be rebranded as X, replacing the familiar blue bird logo with a rather uninspiring black and white letter.
From a marketing perspective, I find this absolutely fascinating.
Twitter had spent almost two decades establishing an incredibly recognisable brand. Its name had even entered everyday language, with people talking about tweeting something in much the same way they might talk about Googling something.
Most businesses would spend an enormous amount of money trying to achieve that level of brand recognition, yet Musk seemingly decided to discard it overnight.
The reasoning, apparently, is that he wants X to become an ‘everything app’, similar to China’s WeChat, combining social media, messaging, payments, shopping and various other services into a single platform.
It’s certainly an ambitious idea, although whether Western consumers actually want an application that does absolutely everything is another matter.
Personally, I’m not convinced that replacing such an established brand was necessary to achieve this, particularly when most people I speak to still refer to the platform as Twitter anyway.
Paying for a Blue Tick
Another major change has been the introduction of paid subscriptions, particularly the decision to allow users to purchase the famous blue verification tick.
Previously, the tick was primarily used to indicate that an account belonged to a notable person or organisation whose identity had been verified. It wasn’t a perfect system, but it provided some reassurance that you were looking at an authentic account.
Under Musk’s new approach, the blue tick is largely associated with X Premium, a subscription service offering additional features, including longer posts, editing capabilities and increased visibility in certain parts of the platform.
I can understand the commercial reasoning behind this. Twitter traditionally relied heavily on advertising revenue, so introducing subscription income could potentially make the business less dependent on advertisers.
However, it also rather undermines the original purpose of verification. If almost anybody can pay for a blue tick, it becomes considerably less useful as a way of identifying credible accounts.
The initial rollout demonstrated this problem rather spectacularly, with impersonators purchasing verification badges and pretending to represent major companies.
What Happened to the Advertisers?
Perhaps the biggest problem facing X is its relationship with advertisers.
In July 2023, Musk admitted that Twitter had lost approximately half of its advertising revenue following the takeover, and the situation hasn’t been helped by ongoing concerns about content moderation and brand safety.
Several major advertisers have suspended or reduced their spending on the platform, concerned about their advertisements appearing alongside offensive or controversial material.
Musk has argued that advertisers shouldn’t be able to dictate what people are allowed to say, which raises an interesting question about how a platform can promote freedom of expression while simultaneously relying on businesses that understandably want to protect their reputations.
From a digital marketing perspective, this presents something of a dilemma. X still has a substantial audience, and for certain businesses it can be an effective way of communicating directly with customers. However, declining advertiser confidence and uncertainty about the platform’s direction make it harder to recommend without reservations.
Is There Anything Positive Happening?
Despite all the controversy, it’s not entirely doom and gloom.
Musk has introduced several new features, including longer posts, improved video functionality and the integration of Grok, an AI chatbot developed by his artificial intelligence company, xAI.
There’s also been a greater emphasis on allowing users to monetise their content, potentially encouraging creators to remain on the platform rather than moving elsewhere.
Whether these improvements outweigh the more controversial changes is debatable, but it’s clear that Musk isn’t simply attempting to maintain Twitter as it existed before the takeover.
Meanwhile, competitors such as Meta’s Threads and the decentralised platform Bluesky are attempting to attract users looking for alternatives, although neither has yet established itself as an obvious replacement for Twitter.
Where Does It Go From Here?
I think the biggest question is whether Musk can turn X into something that people genuinely want to use, rather than simply changing things because he can.
His track record with Tesla and SpaceX demonstrates that he’s capable of pursuing ambitious ideas that initially seem unrealistic, but running a social media platform presents very different challenges.
Unlike manufacturing cars or launching rockets, the success of a social network depends heavily on its users, advertisers and the communities that develop around it. If too many of those people decide to leave, even the most technically impressive platform could struggle.
For businesses, I certainly wouldn’t suggest abandoning X entirely, particularly if you’ve already established an engaged audience there