Woyem News Twitter Inc. recently underwent a rebranding, changing its name to X and introducing a new logo. This move is part of CEO Elon Musk’s vision to transform Twitter into an all-encompassing app called “the everything app,” which will include financial services. Musk has a personal affinity for the letter X, evident in his other ventures such as Tesla’s Model X and SpaceX. The concept of an everything app involves consolidating various services into one app, similar to China’s WeChat. Musk admires WeChat and wants to make Twitter more like it and TikTok. However, previous attempts by tech platforms to create such comprehensive apps have faced challenges, both in competition and regulation. Musk’s track record with trust issues, staff cuts, and technical problems on Twitter may also impact user trust in managing their money on the X app. While users in regions like Asia might be more receptive to a single app, users in the US and Europe have shown a preference for using multiple apps. The success of Musk’s vision remains uncertain, as concrete plans and strategies for the X app have not been disclosed.
