Promising Outlook: CEO Confident X Will Generate Profit in the Upcoming Year

In a bold statement, CEO Linda Yaccarino predicts that X, formerly known as Twitter, will turn a profit by early 2024. Taking over from billionaire owner Elon Musk in June, Yaccarino revealed at Vox Media’s annual Code Conference that the social media company is currently “just about break-even.”

Remarkably, 90 percent of the top 100 advertisers have returned to the platform, with 1,500 advertisers coming back within the last 12 weeks, according to The Verge.

Since Musk’s acquisition of the social media company last fall, controversial changes implemented have made it challenging to retain advertisers.

Musk recently posted on X, acknowledging that the company’s U.S. advertising revenue was still down by 60 percent. However, he did not mention from when. He attributed this decline to the Anti-Defamation League (ADL) in a report that exposed a rise in “virulent antisemitism” on the platform under his leadership.

This clash with the ADL, an organization dedicated to combating hate speech and antisemitism, isn’t Musk’s first. Notably, he filed a lawsuit against the Center for Countering Digital Hate (CCDH), a non-profit that monitors online hate speech, claiming it was responsible for the loss of “tens of millions of dollars” in ad revenue.

Both the ADL and CCDH have published reports highlighting the spread of hate speech and misinformation on X and other online platforms.

Musk’s decisions to relax content moderation rules and reinstate previously banned accounts, including that of former President Trump, have drawn severe criticism from civil society groups since assuming control of the platform.

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