Oct 27, 2023

After a year of Elon Musk, what's next for X?

A year ago, having just bought Twitter, Elon Musk walked into its HQ carrying a sink. Those innovations haven't really changed things though - X is still heavily reliant on ad revenue, and worryingly for Mr Musk that is going down. The appointment of 'superwoman' Linda Yaccarino, previously head of advertising at NBCUniversal, as the X CEO - was seen as a positive milestone for the firm, creating distance between Mr Musk and the platform. According to the New York Times - which got hold of the pitch deck Mr Musk was giving to investors last year - X was supposed to bring in $15 million from a payments business in 2023 - which would grow to about $1.3 billion by 2028. Mr Gerber said when he invested, he was mainly investing because it was Elon Musk.

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