Elon Musk’s X Aims for Profitability by 2024: CEO Linda Yaccarino

Elon Musk's X Aims for Profitability by 2024: CEO Linda Yaccarino

The social media platform is hindering progress under Elon Musk. Attending Vox Media’s Code Conference marks Yaccarino’s 100th day as CEO of the Twitter platform.

He faces questions about the role’s independence and the company’s ability to attract advertisers wary of the platform’s rapid changes and Musk’s controversial image.

“The potential for X’s flexibility and ambition is not available anywhere else,” Yaccarino said. When asked about the third estimate, which was that X fell 25 spots behind Samsung’s Clock app in active app users, Yaccarino said the main metric was “very good” regarding time spent on X, without elaborating.

Yaccarino added that nearly 1,500 advertisers have returned to the platform in the past 12 weeks, with 90% of the company’s more than 100 advertisers returning.

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While Yaccarino said the company could be profitable next year, X is also facing a number of lawsuits that allege it has failed to pay rent on its offices and millions of dollars in severance to thousands of employees who were laid off.

Since Musk acquired the social media company in October, X has struggled to retain advertisers who feared appearing next to unsuitable content, as researchers and activist groups have reported an increase in hateful posts.

Antisemitic content on X has been a focus in recent weeks. Earlier this month, Musk threatened a lawsuit against the Anti-Defamation League, accusing the nonprofit that works to fight antisemitism of primarily causing a 60% decrease in U.S. ad revenue at X. Musk’s comments came just days after Yaccarino met with the ADL.

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Asked on Wednesday about Musk’s ADL fight, Yaccarino said it was “disappointing” that the organization did not acknowledge X’s progress on safety.

Earlier in the interview, she said X introduced new content moderation tools and features to prevent ads from appearing next to certain content, which hadn’t existed before the acquisition.

Yaccarino also defended Musk’s right to speak out on the platform. “Freedom of speech is only successful if someone you disagree with says something you disagree with.”

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Shrabani Sarkar is a celebrity news author who has been covering the latest gossip and scandals in the entertainment industry for Panasiabiz. Shrabani is passionate about celebrity news and enjoys sharing her insights and opinions with her loyal fans. Shrabani can be reached at shrabani@panasiabiz.com