In a recent interview on CNBC, Linda Yaccarino, the CEO of Twitter X, announced that Twitter is edging closer to achieving a balanced financial position.
Yaccarino revealed that the company had been actively recruiting to rebuild its workforce, which had been significantly reduced under the ownership of Elon Musk.
During the interview, Yaccarino addressed concerns about the platform’s safety and defended Musk’s decision to rebrand it as X. She highlighted that prominent brands like Coca-Cola, Visa, and State Farm have been returning to the X platform, signaling a positive shift.
According to Yaccarino, one distinctive aspect of X’s strategy is its approach to content moderation. The platform permits users to share legal content, even if it may be deemed “awful,” but takes measures to prevent its dissemination and any associated advertising benefits.
Yaccarino acknowledged the complexity of this stance, stating that while lawful yet objectionable content is difficult to access, she did not directly address inquiries about the handling of misinformation or unfounded conspiracy theories, which have sometimes been attributed to Musk.
Regarding recent remarks by Musk, who expressed concerns about negative cash flow and a substantial decline in advertising revenue, Yaccarino offered a more optimistic perspective. She indicated that X’s financial performance is improving and is approaching the break-even point.
Yaccarino also underlined the company’s active efforts to expand its workforce, in stark contrast to the drastic reduction in staffing levels initiated by Musk following his $44 billion acquisition of the platform last year.
Musk’s managerial decisions, including widespread layoffs and content moderation cutbacks, had caused a downturn in X’s advertising business as marketers grew apprehensive.
In response, Musk has pivoted towards exploring subscription models for users and seeking revenue from third-party applications that gain access to the platform.
As X continues its journey toward financial stability and recovery, Yaccarino’s statements reflect the company’s concerted efforts to regain the trust of advertisers and users alike while navigating the intricate landscape of content moderation and revenue generation.
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