This time it is promised, X.com will earn its crust in 2024 according to its CEO

As every time Elon Musk or one of the leaders of X.com speaks, it is to announce a bright future full of promise for the company.

And this was not missed with Linda Yaccarino, the CEO of the social network while she spoke on the stage of the Code Conference. She thus declared that she could predict with sufficient certainty that give it consistency did not survive in the face of the figures presented to him by the presenter of the event.

Above all, we are entitled to wonder about such a turnaround, when Twitter has never been profitable in its history, and the situation clearly seems to have gotten worse since Elon Musk bought it. Finally, it is perhaps good to remember that false, or at least far too optimistic, assertions are the trademark of the billionaire, who has also been condemned on several occasions on the subject.

X.com profitable from the start of 2024?

Linda Yaccarino’s presentation did not start in the best conditions. A little before his visit, Yoel Roth, the former head of content and moderation policies of the platform, spoke. As a reminder, the latter left the company because he felt he could no longer do his job, which had earned him public criticism from Elon Musk, and an improbable cyberharassment which had forced him to hide. Speaking directly to Linda Yaccarino, he also warned her that this could happen to her, before scratching his boss.

It is in this tense atmosphere that the CEO of X.com wanted to reassure the public about the formidable prospects of the social network she manages, to the point of explaining that “Now that I’m immersed in this industry, and we have a good view of what we can predict, it looks like we will be profitable from the beginning of 2024.” To support her remarks, she notably explained that, of the 100 biggest advertisers who had left since the takeover, 90 had already returned. And we also can’t take away from the fact that, with only 1,500 employees remaining out of the company’s 8,000 before Elon Musk’s arrival, operating costs have necessarily been reduced.

She also said that usage of the platform is currently the highest ever recorded. Unluckily, the presenter had with her some figures on the subject, which clearly did not seem to go in this direction. Since its name change, downloads of the application have collapsed by 30%. These forecasts therefore seem to oscillate between wishful thinking and the Coué method.

X.com was never profitable

It is certain that X.com could do with finding itself, even briefly, in the green. Because the company has never been profitable for more than 13 years of existence, and the situation clearly seems to have deteriorated since Elon Musk took control. He himself made no secret of it, explaining on several occasions in internal emails that the company was on the verge of bankruptcy. And the return of many accounts banned before its takeover, like the personality of Elon Musk itself, has kept many advertisers away, even if some seem to have returned. As for the plan to replace them, X premium, it is far from living up to the billionaire’s expectations.

This prediction, on the other hand, seems to fit perfectly with the method of the billionaire, who is never shy when making announcements that are at worst completely fanciful, or at best far too optimistic. He was also condemned for this, this type of announcement notably making it possible to increase the Tesla share price, or the value of Dogecoin.

Finally, make any prediction over a quarter or more, while Elon Musk can at any time decide to ban punctuation from non-premium accounts, sort tweets in alphabetical order, or charge for usage of the letter J, finally seems quite optimistic on the part of the CEO

Source : TechCrunch