X cracks under the weight of its ambitions

Together with

The Future. X is throwing a bunch of new features against the wall in hopes of boosting lost ad revenue (historically the big moneymaker for the company) and increasing engagement directly on the platform (the sign of a good user experience). But potentially without enough cash to fund and scale the projects, owner Elon Musk, one of the richest men in the world, may need to take on strategic outside financing to stay afloat.

Everything but the kitchen sink
X is the poster boy platform of wanting to expand into new business while crumbling its existing ones.

  • It’s planning on getting into the social-shopping craze, testing features that would allow for one-click checkouts, live shopping, and the ability to serve product ads via DM (a move sure to feel like email spam).
  • It’s doubling down on video and trying to incentivize brands, sports leagues (like its rich deal with the NFL), and artists to post exclusive ads and content directly to the platform (such as through its Amplify program, which it hopes to revive).
  • It also, bizarrely, got rid of headlines on shared articles because Musk said links lead people out of the platform, which he wants to disincentivize… suggesting people should instead just “post content in long form.”

Will any of these changes work? It remains to be seen, but CEO Linda Yaccarino spent yesterday trying to convince the company’s lenders that the reboot will make a difference, especially as Musk’s initial plan to turn X into a subscription powerhouse has flatlined at 815,000 and 865,000 signups… or 3% of the app’s user base.

All the upheaval has X likely valued at $8 billion, according to Reuters. That’s far less than the $44 billion Musk paid for it and even less than the $13 billion in debt the lenders hold.

David Vendrell

Born and raised a stone’s-throw away from the Everglades, David left the Florida swamp for the California desert. Over-caffeinated, he stares at his computer too long either writing the TFP newsletter or screenplays. He is repped by Anonymous Content.


No design skills needed! 🪄✨

Canva Pro is the design software that makes design simple, convenient, and reliable. Create what you need in no time! Jam-packed with time-saving tools that make anyone look like a professional designer.

Create amazing content quickly with Canva