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Elon Musk wants a social media platform for news

Elon Musk wants a social media platform for news

Elon Musk wants to compete with YouTube and LinkedIn on his social media platform Musk also wants to create a press release service called XWire. Musk and Yaccarino announced this during a meeting between them on the occasion of the acquisition of the former Twitter company, exactly a year ago.

It is not yet clear what the new services will look like. In an internal memo to X employees, Musk and X CEO Linda Yaccarino announced “a decade of innovation in just twelve months.” Yaccarino was named CEO of X in May, marking the first time Musk and Yaccarino addressed the entire company together.

Musk, the richest man in the world, acquired Twitter for $44 billion. He quickly fired most of the social platform’s executives, as well as most of its employees. Many major advertisers later ignored the platform.

While Yaccarino has tried to repair relationships with advertisers in recent months, Musk has been primarily interested in new services he wants to offer on X. With the XWire service, he essentially wants to compete with Chicago-based PR Newswire, which distributes press releases for companies around the world.

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