New Twitter CEO’s Goal: Turning Platform to ‘Twitter 2.0’

Twitter’s new CEO says she’s excited to “transform” the social media platform.

Linda Yaccarino, named chief executive last week by Twitter owner Elon Musk, tweeted on Saturday (May 13) to thank her new boss.

“I’ve long been inspired by your vision to create a brighter future,” Yaccarino wrote. “I’m excited to help bring this vision to Twitter and transform this business together!”

To her new followers, Yaccarino — a former NBCUniversal ad exec — said she wasn’t (yet) as prolific as Musk, but was “just as committed” to the platform’s future.

“Your feedback is VITAL to that future. I’m here for all of it,” she added. “Let’s keep the conversation going and build Twitter 2.0 together!”

Musk had announced May 11 that he would transition into a new role: executive chair and chief technology officer, “overseeing product, software & sysops.”

The world’s second richest person took ownership of Twitter in October 2022 and set about instituting massive changes in leadership and sweeping job cuts. The weeks that followed were hectic for Twitter, which saw several of its advertisers flee.

Soon after taking over, Musk began saying he planned to reduce his time at the company and name a new leader. 

“There’s an initial burst of activity needed post-acquisition to reorganize the company,” Musk said while testifying in a Delaware court during a trial related to his compensation package at one of his other companies, Tesla. “But then I expect to reduce my time at Twitter.”

(A poll Musk commissioned in December showed Twitter users agreeing with this move, with 60% saying Musk should step down.)

For Twitter, a “2.0” version of the platform could mean turning it into Musk’s long-dreamed “everything app.” The company recently renamed itself X, the same name as Musk’s planned super app. 

And as reported here last month, industry observers say the move to X’s ownership indicates a continuance of Musk’s plans to turn the social media platform into a $250 billion super app payments company.

As PYMNTS wrote, a major roadblock facing X’s plan is the trust factor, as more than half of consumers trust their financial institutions most to offer a safe super app.

“Americans, especially millennials, are highly interested in the benefits a super app may provide as a major step towards a more frictionless retail and payment experiences,” PYMNTS wrote. 

“The jury’s still out if it will be Microsoft, X or a still-unnamed organization to be first to U.S. market. But if consumer enthusiasm is any hint, all signs point to the platform’s high probability of widespread adoption.”