Tesla investors can now relax and take ice cream. Yes, Elon Musk has hired a CEO to run Twitter. If not for Tesla being asked to “recall” 1.1 million cars in China, the stock would have seen a huge rally. (The word “recall” is weak here since most of its fixes are done over the air with no need to visit any dealership). Yes, Tesla will use over the air software updates to fix whatever the issues are with no need for any dealership visit.
If Twitter succeeds in the everything app, many companies including PayPal, Booking , and Live Nation for tickets, could be disintermediated. But do not bank on that as these companies will not just wait to be flanked and destroyed.
This new CEO brings two key things: give Musk a cover to appear not to be running Twitter so that investors in SpaceX and Tesla will remain calm, AND as CEO, take the verbal and textual fires which Musk has been absorbing since he took the blue bird home. Left and Right, Musk will not allow this $44 billion special bird to fly out of his view!
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I predict that Musk will raise a huge sum of money on Twitter/X very soon because this company is coming back to NASDAQ within two years as a public company. It is a toy!
Yet, if you look at the big picture, Tesla will compound for Musk faster than whatever Twitter can deliver. Tesla is a category-king company in a huge market (all cars could become electric in decades) and if the goal is to add more digits in personal fortune, focusing on Tesla and SpaceX will serve Musk better.
But when you realize that rich people like toys with some buying football clubs, you cannot blame Musk for taking a bird home!
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!
@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
It’s official: Twitter has a new CEO. Linda Yaccarino, head of global advertising and partnerships at NBCUniversal, will take over the top job from Elon Musk, who acquired Twitter in October for $44 billion. Musk confirmed Yaccarino’s hiring Friday, saying she will “focus primarily on business operations, while I focus on product design and new technology.” Musk said Thursday that he will transition to new roles as executive chair and chief technology officer. Yaccarino had been at NBCU for over a decade and was instrumental in launching the Peacock streaming service. Musk says Yaccarino will help “transform this platform into X, the everything app.” He recently merged Twitter into a firm called “X Corp.” and has said he wants to build an all-in-one app similar to China’s WeChat. (LinkedIn News)
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Is there any business or tech leader that features in the news more than Elon Musk? There is a reason for that, and it’s something to pay attention to.
That a tech billionaire who didn’t make his wealth by creating or owning a social media company, but managed to insert himself as integral part of social media business; it’s not something you see often.
There’s always a new way of reimagining and rethinking things, people don’t suddenly disassociate with their childhood sports clubs, just because they changed owners, same applies to social, even when most will never admit it…
Both gains and losses are relative terms, none is absolute, what seems like a gain to someone can be a loss to another, and they might be both correct, but you first need to understand the divergent perspectives.
When you spend more time learning than talking, your quality of judgment will become enviable.
There is a lot to unpack here, but if you are a good reader of minds or a great visioner, you must have learned that intent rarely equates outcome.