First of all I have to say that "X" is a pretty terrible and uncreative name but I guess when we are talking about the state of Twitter currently, what name, brand, logo it has doesn't matter.
Elon could have used the shit emoji 💩 for the new logo and it would change very little.
So yeah... Most of us have been aware of this coming for a while now when the leaks came out from Elon, seeing his ideas behind what he wants the end product to be. And he was sharing it publicly as well, a long time ago, although in less detail.
I dont think Elon ever gave a damn about Twitter, what Twitter did, why it worked, why it got popular etc.
There is only 1 thing he cared about.
He wanted to buy a large userbase.
Remind you of someone else that wanted to buy a community but couldnt? 😘
He understood that if he built a dapp from scratch, no matter how much money he put in, people would still be extremely inflexible when it comes to leaving what theyre used to and permanently moving to his platform.
By buying Twitter he both killed a potential competitor, bought hundreds of millions of users, an established income stream, a valuable brand, etc.
A Super-Duper App:
"X" will be this "Super-app" he wants to build that will do tweets, spaces, videos and gaming including shopping, ordering food, getting a taxi, banking, news, getting official notifications from governments. It will also have a crypto wallet attached. Basically everything.
Can he actually pull it off? Its very hard to say. I tend to believe that the core necessity for a successful social media platform is restrictions placed on the form of content or design around a specific type of content.
You cannot do everything equally well, different problems exist for you to tackle and with different form content found in the same place, you get direct conflict.
Something that is the case even here on Hive.
A Few Hive Words:
In my opinion, nothing text based can ever compete with blogging (or whatever you would call this) on Hive. Maybe long form videos but the rewards on Hive are extremely low to justify putting in the effort needed to do this consistently.
I mean you all know how committed I am to Hive and I cant even get my wife that is one of the most talented musicians that ever posted on Hive to make a video here anymore.😅
Now that OpenMic that had significant rewards beyond votes, had massive potential, with hundreds of extremely talented weekly participants has been dead for years.
A large chunk of them moving to the NFT music ecosystem.
Any other type of content will either not get equivalent support, share of rewards or it will be directly attacked as was the case in the past with some dapps deemed to promote "low effort content".
Creativity and innovation in regards to social media is pretty much completely dead here because of that.
Anyways... "X" is a dumb name and I dont think Elon will manage to make a super app he hopes to.
But I lose nothing nor do I gain anything if he does. So good luck to him.
Just some news... as always. 😅