Elon Musk has announced Linda Yaccarino as the new CEO of Twitter, months after he promised to step back from the role.[0] Yaccarino, who previously served as the chair of the company’s global advertising and partnerships at NBCUniversal, is seen as a good cultural fit for Musk and shares his views on free speech and content moderation.[1] Musk and Yaccarino have previously appeared together in a keynote interview at a marketing conference in Florida in mid-April, and Yaccarino recently expanded NBCUniversal’s partnership with Twitter for the 2024 Paris Olympics.[2] However, Yaccarino’s appointment has raised concerns among some users who fear she will “return Twitter to its old ways or tamp down on Musk’s free-speech initiatives.” It remains to be seen whether Yaccarino will steer Twitter towards a regime of speech restraint or maintain Musk’s looser approach to content moderation.
The move comes as Tesla’s share price jumps up following Musk’s announcement that he is stepping away from Twitter’s top job.[3] With Tesla falling behind on its goal of delivering 1.8 million vehicles this year and facing a litany of price cuts, Musk may need to pay closer attention to that company.[4] Stockholders appear to be pleased that he may be able to devote more time to Tesla — but rumours suggest he might be moving on from the CEO position at that company too.[4]
Maintaining healthy relationships with advertisers must be Twitter’s primary goal in the short run.[5] More than half of Twitter’s top 1,000 advertisers cut back or stopped advertising on the social media platform after Musk’s acquisition. Recent data from market intelligence firm Sensor Tower shows that many of Twitter’s top 100 advertisers before Musk took the reins are still estranged from the platform, and Yaccarino will face “immediate challenges” in wooing them back.[1]
Yaccarino’s appointment could help Twitter to smooth over its fractured relationships with some advertisers.[4] Following Musk’s takeover of Twitter, there were reports indicating that a significant number of the platform’s major advertisers had ceased spending ad funds on it for a while. According to reports, a few individuals raised apprehensions about their advertisements being placed alongside hate speech and false information due to Musk’s relaxed stance on content regulation.[4]
It remains to be seen how Yaccarino’s appointment will affect Twitter’s future, but Musk has expressed his excitement to work with her to transform the platform into “X, the everything app.[6]
0. “US financial news live updates: Social Security checks, new Twitter CEO, debt default, jobless claims” AS USA, 14 May. 2023, https://en.as.com/latest_news/us-financial-news-live-updates-social-security-checks-new-twitter-ceo-debt-default-jobless-claims-n-2
1. “Right-wing Twitter worried Musk’s CEO pick could return Twitter to its roots” Ars Technica, 12 May. 2023, https://arstechnica.com/tech-policy/2023/05/twitter-users-fear-new-ceo-will-end-musks-commitment-to-free-speech-on-platform
2. “Elon Musk To Step Aside At Twitter [UPDATE Regarding Tesla]” CleanTechnica, 12 May. 2023, https://cleantechnica.com/2023/05/12/rumor-elon-musk-to-step-aside-at-tesla-and-twitter
3. “Is Tesla A Buy With Elon Musk Stepping Down As Twitter CEO?” Investor’s Business Daily, 12 May. 2023, https://www.investors.com/news/is-tesla-stock-a-buy-or-a-sell-right-now-as-elon-musk-teases-cybertruck
4. “Elon Musk names NBCU ad exec Linda Yaccarino new Twitter CEO” Engadget, 12 May. 2023, https://www.engadget.com/elon-musk-names-nbcu-ad-exec-linda-yaccarino-new-twitter-ceo-155537363.html
5. “Twitter’s New CEO Will Serve a Constituency of One” Barron’s, 12 May. 2023, https://www.barrons.com/articles/twitter-ceo-musk-yaccarino-1b24a70e
6. “Elon Musk and the letter X, the name for his everything app” NPR, 12 May. 2023, https://www.npr.org/2023/05/12/1175797797/elon-musk-x-twitter