Elon Musk's X Might Turn A Profit Early 2024, CEO Linda Yaccarino Says

Yaccarino emphasised, "The velocity of change and the scope of ambition at X really does not exist anywhere else."

Since Elon Musk's acquisition of the social media company in October, X has faced challenges in retaining advertisers.

Source : Getty

X Corp. may achieve profitability in early 2024, according to CEO Linda Yaccarino. She made this statement during a comprehensive interview defending the company's trajectory under billionaire owner Elon Musk at Vox Media's Code conference, reported Reuters. Yaccarino's appearance at the conference marked her 100th day as CEO of the platform, which was once called Twitter. During the interview, questions were raised about her authority in the role and the company's ability to attract advertisers due to the rapid transformations on the platform and Elon Musk's controversial image.

Yaccarino emphasised, "The velocity of change and the scope of ambition at X really does not exist anywhere else."

Addressing concerns about a decline in active app users, ranking 25th behind Samsung's clock app as per third-party estimates, Yaccarino stated that key metrics related to time spent on X were "trending very, very positively," although specifics were not provided.

She mentioned that approximately 1,500 advertisers have returned to the platform in the last 12 weeks, with 90 per cent of the company's top 100 advertisers making a comeback.

While expressing optimism about the company's potential profitability next year, X is grappling with several lawsuits alleging non-payment of office rent and severance to thousands of laid-off employees.

Since Elon Musk's acquisition of the social media company in October, X has faced challenges in retaining advertisers concerned about their ads appearing alongside inappropriate content, with an increase in hateful posts reported by researchers and activist groups.

Recent weeks have seen a focus on antisemitic content on X. Earlier this month, Musk threatened a lawsuit against the Anti-Defamation League (ADL), attributing a 60 per cent decrease in US ad revenue at X to the nonprofit organisation's actions.

To clear our platform’s name on the matter of anti-Semitism, it looks like we have no choice but to file a defamation lawsuit against the Anti-Defamation League … oh the irony!

— Elon Musk (@elonmusk) September 4, 2023

Yaccarino, when asked about Musk's disagreement with the ADL, expressed disappointment that the organisation did not acknowledge the safety progress made by X.

In the interview, she highlighted that X had introduced new content moderation tools and features to prevent ads from appearing alongside specific content, emphasising that these measures were not in place before Musk's acquisition.

Yaccarino also defended Musk's right to express his views on the platform, emphasising the importance of freedom of speech, even when there are disagreements.