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Elon Musk Officially Assumes New Role at X

Elon Musk transitions into a new role at X, focusing on product and engineering. Meanwhile, Linda Yaccarino, the new CEO, aims to resuscitate the ad business.

Elon Musk Officially Assumes New Role at X

X is undergoing significant changes as Elon Musk officially steps into the role of platform’s product and engineering chief. Meanwhile, Linda Yaccarino assumes responsibility as CEO, overseeing all other divisions with the primary goal of revitalizing the company’s faltering ad business. X's ad revenue has plummeted 50% year-over-year, with its new subscription service, XBlue, not meeting expectations, forcing the company to continue its reliance on ad revenue.

Yaccarino's immediate challenge is to leverage her industry knowledge and skills to lure brands back to the platform using the new X branding and promoting the app's latest opportunities. However, she will have to confront serious concerns about brand safety amidst allegations of rising hate speech since Musk's acquisition.

X's trust and safety team will now be overseen by both Musk and Yaccarino, demonstrating the significance of this issue. However, the uphill battle to counter these concerns is further complicated by the platform's policy of reinstating previously banned users and Musk's controversial tweets.

Adding to these difficulties is X's decision to permit Community Notes on paid ads, a move acknowledged by Musk as detrimental to revenue. Yaccarino plans to appoint a leader for brand safety and suitability to tackle these challenges.

Although the rebranding might deter some advertisers, X's reported growth in monthly users could keep them interested. The crucial test lies in whether X can retain its user base despite negative media perception and allegations of diminished enforcement against hate speech.