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Elon Musk on October 26, 2022, carrying a sink as he enters X headquarters (Elon Musk/Getty Images)

Users are finally remembering that it’s called X now, not Twitter

Almost two years later, the name might just be starting to stick.

Whether it’s a baby, a company, a pope, or a product, naming things is hard.

When Mark Zuckerberg wanted to change Facebook’s name to better reflect his aspirations in the metaverse, a marketing team was likely drafted in for mountains of moolah to come up with... Meta. Aberdeen Asset Management, a steward of more than $670 billion, disemvoweled itself in 2021, becoming “abrdn” for reasons best known to themselves, before adding the letters back this year. Netflix got screamed at for trying “Qwikster” as the name of its DVD business, Radio Shack hoped calling itself the Shack would revive its fortunes, and Pizza Hut has toyed with a few names — all of which the public hated.

Some companies just give up altogether and start using common first names for their brands and ideas. There’s Dave, the insurance company; Jasper, which can help you write marketing copy; Claude, the AI chatbot; and Alexa, Amazon’s robot assistant — a product that’s sent the name’s popularity plummeting after its release in 2015.

In 2019, I wanted to start a media company that made a lot of charts, and the best I could muster up was Chartr. It is hard.

X marks the spot

So, once you finally have a name that billions of people around the world recognize, changing it overnight would seem like a very high-risk experiment to run. Still, that’s exactly what Elon Musk did one Sunday in July 2023 when he announced that he’d be completely rebranding Twitter — which he dropped $44 billion on less than a year earlier — to X.

If data from Google is anything to go by, people are just now remembering its new name more often than not, with searches for “X login” finally outweighing those for “Twitter login” in recent weeks.

More people are remembering to search for “X login” than “Twitter login”
Sherwood News

Based, then, on this very unscientific analysis, it seems like 18 to 24 months is a rough ballpark for how long it takes to reshape the name of a product in the wider public psyche. But of course, these are just the users looking to log in to the platform via Google; for many others, it’ll likely always be Twitter... or at least “X, formerly known as Twitter.”

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Tesla is back in the negative this year

After falling more than 6% yesterday in its biggest drop since July, Tesla is once again in negative territory for the year. Elon Musk’s company posted record earnings last month, buoyed by pulled-forward demand tied to the final quarter of US federal EV tax credits, but its margins slipped as steep discounts were used to clear inventory.

Now the stock, which only turned positive for the year in September, is under renewed pressure amid a broader tech and AI sell-off, as investors grow concerned that the Federal Reserve may pause its rate-cutting cycle. Adding to the drag are soft sales in Tesla’s second-largest market, China, and news that longtime bull Cathie Wood’s Ark Invest unloaded roughly $30 million in shares this week.

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Meta overhauls Marketplace with AI insights and collaborative shopping

Meta announced Thursday that it’s giving its buy-and-sell platform, Marketplace — arguably the best part of Facebook and the most appealing to young people — a “glow up.” Each day in the US and Canada, one out of four Facebook daily active young adult users go to Marketplace, according to Meta. The overhaul includes the ability to create collections of listings you can share with friends or the public.

The site will also offer AI suggestions on what to ask sellers about your potential purchase. Unfortunately for all involved, the much-hated, easy-to-accidentally-press default message to sellers — “Hi, is this available” — remains unchanged.

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

The site will also offer AI suggestions on what to ask sellers about your potential purchase. Unfortunately for all involved, the much-hated, easy-to-accidentally-press default message to sellers — “Hi, is this available” — remains unchanged.

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

$15B
Rani Molla

Tesla CEO Elon Musk’s other company, xAI, has raised $15 billion in its latest funding round, CNBC reports. That’s $5 billion more than the company had raised in that same round in September. Its valuation remains at a sky-high $200 billion.

Tesla shareholders recently voted to invest in xAI but, due to a large number of abstentions, the board has yet to approve the proposal.

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Rani Molla

Microsoft to use OpenAI’s chips to improve its own in-house chips

As part of Microsoft’s investment in OpenAI, the company is using OpenAI’s development of custom AI semiconductors to help improve its own in-house chips, which have lagged behind peers, according to an interview with CEO Satya Nadella by podcaster Dwarkesh Patel.

“As they innovate even at the system level, we get access to all of it,” Nadella said. “We first want to instantiate what they build for them, but then we’ll extend it.” Under their updated agreement, Microsoft has access to OpenAI’s models and products — excluding the Jony Ive-designed AI device — through 2032.

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