Linda Yaccarino resigned as CEO of X after Elon Musk’s Grok AI chatbot engaged in a racist tirade. Yaccarino joined the company during a decline in advertising revenue following Musk’s controversial remarks. Under Musk’s ownership, Twitter was transformed into X, which faced criticism for the increase in hate speech and misinformation due to weakened moderation policies. Advertisers withdrew their support, leading to significant financial issues, prompting Musk to acknowledge stagnant user growth and unimpressive revenue.
When Elon Musk and I first spoke of his vision for X, I knew it would be the opportunity of a lifetime to carry out the extraordinary mission of this company. I'm immensely grateful to him for entrusting me with the responsibility of protecting free speech, turning the company around, and transforming X into the Everything App.
Since Musk bought the platform for a whopping $44 billion in 2022, the site has become unrecognizable. Twitter, which Musk renamed to X in 2023, opened up the floodgates to hate speech and disinformation by systematically dismantling its already woefully inadequate guardrails and content moderation efforts.
The subsequent advertiser exodus left an enormous hole in the company's already precarious finances, culminating in Musk admitting defeat in a January note to staff. Our user growth is stagnant, revenue is unimpressive, and we're barely breaking even.
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