Twitter's new CEO, Linda Yaccarino, recently shared her thoughts and approaches to managing the popular social media app under the leadership of new owner Elon Musk. According to Yaccarino, Twitter, much like space exploration and electric vehicles, requires transformation to move society forward through the unrestricted exchange of information and open discussion on vital topics.
However, what this transformation will look like in a business context is still unclear. Twitter's U.S. ad revenue is down nearly 60% this year, largely due to brands backing out following Musk's changes to the app. Yaccarino's challenge will be to balance this new approach while trying to attract more advertisers.
Yaccarino also emphasized Twitter's mission to become the world's most accurate real-time information source and a global town square for communication. She acknowledged that achieving these goals would require genuine belief and hard work.
Challenging assumptions, according to Yaccarino, is a key part of this process. This approach reflects Musk's business strategy when he took over Tesla, where he challenged assumptions about battery costs and looked for innovative solutions. This same approach is evident in Twitter's exploration of various features previously tested and abandoned, such as creator subscriptions, Twitter Blue, and original video content.
Despite skepticism from outside commentators, Musk and Yaccarino are prepared to challenge assumptions and test new approaches in an effort to rebuild the app in line with these principles. This approach aligns with the vision for Twitter 2.0. Despite the uncertainties, Yaccarino remains hopeful about Twitter's future under this new leadership.
