Hi everybody and welcome back to the Elon Musk podcast. In a notable shift from the well known brand, Twitter is no longer Elon Musk's X Corp is paving a new path, forging its identity through a multifaceted transition that aims to transform the popular microblogging site into an Everything app. As a transformation on furls, memorabilia that was once synonymous with the Bird theme platform is now finding its way to the auction block.
And as part of the sweeping rebrand, over 600 pieces of Twitter's heritage are up for auction. Scheduled to kick off on September 12th and conclude on September 14th, this event is poised to attract those nostalgic for the former Twitter brand. Now the Auctions collection includes emblematic neon signs featuring the Twitter bird, a larger than life hashtag, the iconic at symbol, and assorted branding furniture like a bird themed wooden coffee table in a hanging sofa swing shaped like a
bird cage. Now this auction follows a similar event at the year's beginning, which saw various office fixtures and electronics find new owners. And among the eclectic offerings, there's even a Twitter Essentials 24 record collection, including a record player. Now estimating the total revenue from these sales might prove challenging. And during a previous auction, a three foot Twitter bird statue
fetched a high bid of $100,000. And two particularly intriguing listings are the Twitter birdsides still clinging to the sides of the X Corp building. These are being offered, but the details emphasize that buyers must engage a licensed San Francisco firm with the right permits to detach these iconic symbols. And a painting of Ellen Degeneres's viral 2014 Oscars selfie, once the most retweeted message, adds a touch of sentiment to this auction.
Now the auction is just one aspect of the broader transformation. Since Musk's acquisition of Twitter in 2022, efforts to erase the Twitter name from the platform have been ongoing. The rebranding symbolizes a significant shift, marking the end of Twitter in the beginning of X. And Musk's ambitions for X go
beyond mere rebranding. His vision is to create an allencompassing platform where users can text, call, pay, shop, bank, and ship online, a transformation he has pledged to accomplish within five years of this acquisition. And such an ambitious endeavor does not come without obstacles. Critics argue that establishing an Everything app in the US
might be unattainable. Regulatory scrutiny and antitrust challenges could pose significant hurdles given the increasing scrutiny of tech companies and the financial industry. And in a strategy to attract users to X, Musk has launched a revenue sharing program for content creators, As reported by The Verge. This program rewards users who earn at least $10 by achieving a minimum of 5 million views within three months.
And Musk's approach also includes lowering the payout threshold to $10, effectively rendering X Premium, formerly Twitter Blue, free for accounts generating substantial views. Additionally, the Twitter Blue subscription service has been rebranded to X Premium, a further step in solidifying the new identity. While the rebranding progresses, efforts to ease lingering advertisers concerns following previous scandals and reports of increased hate speech are
underway. Ex CEO Linda Yocarino has been actively engaging the major brands hesitant about advertising on the platform. In recent interviews, Yacorino highlighted new content, tools to offer more control to advertisers and expressed unwavering support for Musk's vision. Yacorino views the transformation as a liberation. For Twitter's legacy. This shift is about more than just changing the name.
It's about evolving into a platform that offers a wide array of services, from long form videos and articles to video chat calls. Though some experts remain skeptical about the feasibility of an Everything app, the leadership at X focuses on what's possible, not on what cannot be done. And since taking over Twitter, Musk has introduced changes like moving account verification behind a pay wall and extending post link limits.
However, the rebranding from Twitter to X marks the most profound alteration in setting mixed reaction from users, And the auctioning of iconic Twitter symbols like the giant neon bird represents more than just a sale. It's symbolic of a monumental transformation led by Musk, as the online auction showcases various memorabilia from the San Francisco office. It serves as a reflection on a digital era that is now shifting into a new phase.
And the transition from Twitter to X, led by Musk's vision and operationalized by Yakirino, is both ambitious and quite complex. And Harold's an era where the platform seeks to become an integral part of users, digital lives reaching far beyond its original scope. And in the bits of this change, doubts and vast expectations, X Corp stands at a crossroads, looking toward a future that could redefine social media's role in the interconnected
world. Only time will tell if X will indeed become the everything app that Musk aspires to create. Thank you so much for listening today. If you could take a second and do me a favor, hit the follower subscribe button on whatever podcast platform that you're on right now. It'll help out the show. And help out yourself too because you get the Elon Musk news every single day and we bring it to you in 15 minutes or
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