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X Corp: From Twitter to "Everything App" · Elon Musk Podcast

• 0:00
  Hi everybody and welcome back to the Elon Musk podcast.
• 0:04
  In a notable shift from the well known brand, Twitter is no
• 0:08
  longer Elon Musk's X Corp is paving a new path, forging its
• 0:12
  identity through a multifaceted transition that aims to
• 0:16
  transform the popular microblogging site into an
• 0:19
  Everything app. As a transformation on furls,
• 0:21
  memorabilia that was once synonymous with the Bird theme
• 0:24
  platform is now finding its way to the auction block.
• 0:28
  And as part of the sweeping rebrand, over 600 pieces of
• 0:31
  Twitter's heritage are up for auction.
• 0:33
  Scheduled to kick off on September 12th and conclude on
• 0:36
  September 14th, this event is poised to attract those
• 0:39
  nostalgic for the former Twitter brand.
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  Now the Auctions collection includes emblematic neon signs
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  featuring the Twitter bird, a larger than life hashtag, the
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  iconic at symbol, and assorted branding furniture like a bird
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  themed wooden coffee table in a hanging sofa swing shaped like a
• 0:57
  bird cage. Now this auction follows a
• 1:00
  similar event at the year's beginning, which saw various
• 1:04
  office fixtures and electronics find new owners.
• 1:07
  And among the eclectic offerings, there's even a
• 1:10
  Twitter Essentials 24 record collection, including a record
• 1:15
  player. Now estimating the total revenue
• 1:17
  from these sales might prove challenging.
• 1:20
  And during a previous auction, a three foot Twitter bird statue
• 1:23
  fetched a high bid of $100,000. And two particularly intriguing
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  listings are the Twitter birdsides still clinging to the
• 1:32
  sides of the X Corp building. These are being offered, but the
• 1:35
  details emphasize that buyers must engage a licensed San
• 1:39
  Francisco firm with the right permits to detach these iconic
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  symbols. And a painting of Ellen
• 1:45
  Degeneres's viral 2014 Oscars selfie, once the most retweeted
• 1:50
  message, adds a touch of sentiment to this auction.
• 1:53
  Now the auction is just one aspect of the broader
• 1:55
  transformation. Since Musk's acquisition of
• 1:58
  Twitter in 2022, efforts to erase the Twitter name from the
• 2:02
  platform have been ongoing. The rebranding symbolizes a
• 2:06
  significant shift, marking the end of Twitter in the beginning
• 2:09
  of X. And Musk's ambitions for X go
• 2:11
  beyond mere rebranding. His vision is to create an
• 2:14
  allencompassing platform where users can text, call, pay, shop,
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  bank, and ship online, a transformation he has pledged to
• 2:23
  accomplish within five years of this acquisition.
• 2:27
  And such an ambitious endeavor does not come without obstacles.
• 2:30
  Critics argue that establishing an Everything app in the US
• 2:34
  might be unattainable. Regulatory scrutiny and
• 2:38
  antitrust challenges could pose significant hurdles given the
• 2:42
  increasing scrutiny of tech companies and the financial
• 2:45
  industry. And in a strategy to attract
• 2:48
  users to X, Musk has launched a revenue sharing program for
• 2:51
  content creators, As reported by The Verge.
• 2:54
  This program rewards users who earn at least $10 by achieving a
• 2:58
  minimum of 5 million views within three months.
• 3:02
  And Musk's approach also includes lowering the payout
• 3:05
  threshold to $10, effectively rendering X Premium, formerly
• 3:09
  Twitter Blue, free for accounts generating substantial views.
• 3:13
  Additionally, the Twitter Blue subscription service has been
• 3:16
  rebranded to X Premium, a further step in solidifying the
• 3:20
  new identity. While the rebranding progresses,
• 3:23
  efforts to ease lingering advertisers concerns following
• 3:26
  previous scandals and reports of increased hate speech are
• 3:29
  underway. Ex CEO Linda Yocarino has been
• 3:32
  actively engaging the major brands hesitant about
• 3:35
  advertising on the platform. In recent interviews, Yacorino
• 3:38
  highlighted new content, tools to offer more control to
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  advertisers and expressed unwavering support for Musk's
• 3:44
  vision. Yacorino views the
• 3:46
  transformation as a liberation. For Twitter's legacy.
• 3:50
  This shift is about more than just changing the name.
• 3:52
  It's about evolving into a platform that offers a wide
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  array of services, from long form videos and articles to
• 3:59
  video chat calls. Though some experts remain
• 4:02
  skeptical about the feasibility of an Everything app, the
• 4:05
  leadership at X focuses on what's possible, not on what
• 4:09
  cannot be done. And since taking over Twitter,
• 4:13
  Musk has introduced changes like moving account verification
• 4:16
  behind a pay wall and extending post link limits.
• 4:20
  However, the rebranding from Twitter to X marks the most
• 4:23
  profound alteration in setting mixed reaction from users, And
• 4:28
  the auctioning of iconic Twitter symbols like the giant neon bird
• 4:32
  represents more than just a sale.
• 4:33
  It's symbolic of a monumental transformation led by Musk, as
• 4:38
  the online auction showcases various memorabilia from the San
• 4:41
  Francisco office. It serves as a reflection on a
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  digital era that is now shifting into a new phase.
• 4:47
  And the transition from Twitter to X, led by Musk's vision and
• 4:51
  operationalized by Yakirino, is both ambitious and quite
• 4:55
  complex. And Harold's an era where the
• 4:57
  platform seeks to become an integral part of users, digital
• 5:01
  lives reaching far beyond its original scope.
• 5:03
  And in the bits of this change, doubts and vast expectations, X
• 5:08
  Corp stands at a crossroads, looking toward a future that
• 5:11
  could redefine social media's role in the interconnected
• 5:14
  world. Only time will tell if X will
• 5:17
  indeed become the everything app that Musk aspires to create.
• 5:22
  Thank you so much for listening today.
• 5:23
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• 5:29
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• 5:31
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• 5:34
  news every single day and we bring it to you in 15 minutes or
• 5:39
  less. So you get everything that you
• 5:40
  need really quick, straight to the point, no fluff.
• 5:44
  So thanks again for your support and following and subscribing to
• 5:49
  the show. Take care of everybody.
• 5:51
  I'll see you next time.