However, the name change was not without precedent. From his actions as Tesla’s CEO, Musk has proven that he is a big fan of vertical integration. Right now, the car company has several subsidiaries.
The proposed X’s name probably wants to make people remember X.com – Elon’s financial services startup, which later merged with Paypal.
Twitter is no longer listed as a public organization. Thus, the specified name change does not have to be reported to the SEC. However, the new name came to light when activist Laura Loomer filed a lawsuit against Twitter and Facebook. Through the declared lawsuit, the political activist wanted to end the hate speech policies of Twitter and Facebook and a few other social media giants.
Twitter, Inc. has been merged into X Corp. and no longer exists.Court documents
X is said to be identical to WeChat – the Chinese all-in-one app for driving, payments, messaging, food delivery and a range of other services.
Musk has always praised WeChat for its utilitarian approach. But the dominance that WeChat represents is almost useless to replicate outside of China.
The launch of ‘X’ – Rumors vs. Reality
While Musk advocates are praising the proposal to rename Twitter as the next step to building the almighty ‘X’ app, Elon’s track record says otherwise. The Richie-rich CEO has proposed a lot of revolutionary ideas in the past, but they have not been implemented yet.
Given all these hurdles, the launch of the proposed X app is unlikely to roll out anytime soon.
Currently, Twitter’s engineers are quite busy dealing with bugs. Several Twitter users have reported that circle tweets, which are supposed to reach a select group, are landing on the algorithmically created ‘For You’ timeline.
This somehow indicates that the user’s private posts are breaching the containment and reaching irrelevant audiences. This creates room for unexpected and pleasant scenarios.
In addition to the bug challenge, Elon Musk’s team is vigorously fighting revenue-related issues. The renewed Twitter Blue subscription has not been able to generate the expected profit.