X CEO Linda Yaccarino Projects Profitability by 2024
In a recent interview at the Code Conference, X CEO Linda Yaccarino made a bold statement, declaring that the company, formerly known as Twitter, would achieve profitability by early 2024. Yaccarino’s remarks come amidst a company history that spans 13 years without turning an annual profit and a recent acquisition by Elon Musk. Despite the challenges, Yaccarino’s comments align with her previous assertions, including X’s proximity to operational break-even and the platform’s record-high usage.
Key Takeaway
X CEO Linda Yaccarino’s assertion about achieving profitability by 2024 showcases optimism for the company’s future. Despite ongoing controversies and challenges, she remains confident in X’s potential, citing increasing user engagement and the return of top advertisers. However, concerns surrounding unpaid severance and legal disputes need resolution to ensure sustained growth and stability.
Positive Signs of Growth and Cost Reduction
Yaccarino highlighted several positive indicators that suggest a promising future for X. One notable statistic she mentioned is the return of 90% of the top 100 advertisers to the platform within the past twelve weeks alone, signaling renewed confidence in X’s advertising potential. Additionally, Yaccarino emphasized the reduction of X’s workforce from 8,000 to approximately 1,500 as a critical step in cutting expenses. However, the issue of unpaid severance to laid-off employees and ongoing lawsuits related to unpaid rent has raised concerns.
Controversies and Questions About User Engagement
During the interview, CNBC’s Julia Boorstin challenged Yaccarino’s claims about X’s user engagement. Boorstin referred to data from app analytics firm Apptopia, indicating a 30% decline in X downloads and decreased web traffic since the rebranding. Moreover, Apptopia reported lower user numbers compared to the pre-IPO era of Twitter. Despite the pushback, Yaccarino maintained that X’s user engagement had witnessed an increase since June.
An Unsettling Interaction and Concern for Personal Safety
The interview took an unexpected turn when former Twitter trust and safety head Yoel Roth joined the discussion. Roth, whose tenure at Twitter ended with severe threats and harassment, expressed concern for Yaccarino’s personal safety rather than focusing on X’s management. He shared his own traumatic experience, emphasizing the need for worry and caution, both for Yaccarino and others who faced a similar fate. Roth referenced Musk’s involvement in his harassment, revealing the extent to which he had to protect himself.
