Tech
TOPSHOT-US-TWITTER-MUSK-INTERNET-JUSTICE
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.”

More Tech

See all Tech
tech

Wired: OpenAI plans to launch a TikTok-like app for its AI videos

OpenAI is planning to launch its own social media app to showcase AI videos generated by its Sora 2, Wired reports. The Sora 2 stand-alone app apparently looks a lot like TikTok with vertical videos, a For You page, and the ability to remix videos — which, unlike TikTok, are all created by AI. So far it’s only available internally.

The drawn-out TikTok negotiations have given OpenAI a window to launch a short-form video app without ties to China, sources told Wired.

The Sora 2 app also includes an identification verification feature that would let users confirm their likeness and let others use it as well.

The Sora 2 app also includes an identification verification feature that would let users confirm their likeness and let others use it as well.

tech

Snap jumps on new revenue stream, continued social media buzz

Snap jumped as high as 5% Monday after the social media company announced that it would be charging users for its Memories features after they reach 5 gigabytes of storage. Snapchat, which has clocked more than 1 trillion saved Memories on its platform, told TechCrunch the Memory Storage plans would range from $1.99 a month for 100 gigabytes of storage to $15.99 for 5-terabyte plans. The fees will be a new revenue stream for the company, whose ad revenue isn’t growing as fast as its peers’.

Snap rose more than 20% this month amid positive r/WallStreetBets chatter, buyout speculation, and increased investment by Saudi investor Prince Al Waleed bin Talal Al Saud. And the US spin-off of TikTok doesn’t seem to be taking the wind out of Snap’s sales.

Robot Among City Ruins

How well can top AI models do these jobs?

An OpenAI benchmark tests how well AI models can perform “economically valuable” jobs.

tech

Alibaba jumps as Macquarie and Jefferies up price targets on AI cloud demand

Alibaba is up about 4% this morning after Macquarie analyst Ellie Jiang raised her price target on the stock to a Street high of $235.60, up from $177.90, and Jefferies analyst Thomas Chong upped his price target to $230 from $178, based on a strong cloud outlook and synergies in its rapid-delivery model of e-commerce. The duo is among a string of analysts lately, including those at Morgan Stanley, Baird, and Bank of America, to raise their price targets on the stock.

The Jefferies analyst cited the company’s “remarkable progress made in multiple areas,” including foundation models, AI infrastructure, and agents. Alibaba also jumped up last week on news of an AI spending hike, a new model launch, and a partnership with Nvidia.

Separately, Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu highlighted the e-commerce and cloud giant as a key beneficiary of Huawei’s reported plan to double output of its top AI chip next year.

“The doubling of production of Huawei’s marque AI accelerator chip in 2026 could help ease the semiconductor bottleneck at Alibaba, Tencent and Baidu,” they wrote.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.