In an internal memo obtained by CNBC, Twitter’s (now X’s) newly appointed CEO Linda Yaccarino promotes the company’s success and future plans. Without providing any specific metrics, the executive asserts once more that the service’s utilization is at an “all-time high” and hints at forthcoming new product experiences for the rebranded platform.
The service formerly known as Twitter has endeavored to become an “everything app,” as owner Elon Musk termed it.
As the Telsa and Space X executive explained in October 2022, foreshadowing Twitter’s rebranding, Twitter’s acquisition was intended to be “an accelerant to creating X, the everything app.
During a November Twitter Spaces livestream with advertisers, Musk revealed that his overarching plan has been to develop an app that enables content creators to monetize their work, before expanding into payment services and even banking. He even mentioned the possibility of establishing high-interest money market accounts on Twitter to attract customers to X at the time.
These potential product ideas were again mentioned in Yaccarino’s new letter, in which she states, “Our usage is at an all-time high, and we’ll continue to delight our entire community with new experiences in audio, video, messaging, payments, and banking – creating a global marketplace for ideas, goods, services, and opportunities.”
Twitter, now known as X, has already implemented some of Musk’s video and creator monetization concepts. In May, the company began allowing subscribers to upload two-hour videos to its service, which Apple took advantage of when it published the first episode of its hit Apple TV+ show “Silo” in its entirety on the platform. Until he was ordered to cease by the network, fired Fox News host Tucker Carlson was also posting lengthy videos to Twitter.
In addition, Twitter began sharing advertising revenue with verified creators earlier this month.
However, all is not well with Twitter X, whose traffic has been declining, at least according to third-party measurements. According to data from web analytics firm Similarweb, Twitter’s web traffic dropped 5% during the first two days Instagram Threads were generally available, compared to the previous week.
In addition, Similarweb reported that Twitter’s website traffic decreased by 11% compared to the same days in 2022. In addition, Cloudflare CEO Matthew Prince tweeted a graph of traffic to the Twitter.com domain earlier this month that depicted “Twitter traffic tanking,” as he stated.
Yaccarino discreetly refuted these reports at the time, asserting that Twitter’s highest usage day since February occurred in early July. She did not provide any specific data or metrics. Simultaneously, the company blocked Threads.net links in Twitter searches, indicating that it was apprehensive about the new competition.
Today, in her company-wide memo, Yaccarino reiterates her vague claims about X’s high utilization, despite the fact that analysts at Forrester predict X will shut down or be acquired within the next 12 months and numerous critics agree that the X rebrand is doomed to fail.
The remainder of Yaccarino’s memo consisted primarily of praise for X’s team and boasting about X’s ability to “impress the world all over again,” as Twitter once did.
Below is the complete memo, courtesy of CBNC:
What a momentous weekend. As I said yesterday, it’s extremely rare, whether it’s in life or in business, that you have the opportunity to make another big impression. That’s what we’re experiencing together, in real time. Take a moment to put it all into perspective.
17 years ago, Twitter made a lasting imprint on the world. The platform changed the speed at which people accessed information. It created a new dynamic for how people communicated, debated, and responded to things happening in the world.
Twitter introduced a new way for people, public figures, and brands to build long lasting relationships. In one way or another, everyone here is a driving force in that change. But equally all our users and partners constantly challenged us to dream bigger, to innovate faster, and to fulfill our great potential.
With X we will go even further to transform the global town square — and impress the world all over again.
Our company uniquely has the drive to make this possible. Many companies say they want to move fast — but we enjoy moving at the speed of light, and when we do, that’s X.
At our core, we have an inventor mindset — constantly learning, testing out new approaches, changing to get it right and ultimately succeeding.
With X, we serve our entire community of users and customers by working tirelessly to preserve free expression and choice, create limitless interactivity, and create a marketplace that enables the economic success of all its participants.
The best news is we’re well underway. Everyone should be proud of the pace of innovation over the last nine months — from long form content, to creator monetization, and tremendous advancements in brand safety protections.
Our usage is at an all time high and we’ll continue to delight our entire community with new experiences in audio, video, messaging, payments, banking – creating a global marketplace for ideas, goods, services, and opportunities.
Please don’t take this moment for granted. You’re writing history, and there’s no limit to our transformation. And everyone, is invited to build X with us.
Elon and I will be working across every team and partner to bring X to the world. That includes keeping our entire community up to date, ensuring that we all have the information we need to move forward.
Now, let’s go make that next big impression on the world, together.