Social media is not a traditional business.

• Manufacturing physical objects, like jets, cars, or toys, is not required.

• A web-based platform is required that connects people and small businesses worldwide.

But people need a lot of human resources and computational power to maintain a social media platform.

• So, in a limited way, social media may be called a soft business that doesn't need to manufacture and sell hardware products.

As a result, a social media platform that is the backbone of its business may be modified, i.e., improved, downgraded, or destroyed, with a few clicks of a computer mouse button.

In short, a social media business's fate remains in its owners' hands.

The Twitter acquisition was indeed a burdened ego of Elon Musk.

• Elon Musk wanted to buy Twitter, and later he backed out.

And finally, when the legal process pressurized him, he purchased Twitter.

• The actions Musk has taken since the Twitter acquisition are radical.

• Whether Musk is happy after the Twitter acquisition is not clearly understood.

Earlier, he displayed the meme coin, aka Dogecoin logo, instead of the blue bird logo of Twitter for some time.

• People guessed like Musk would adopt cryptocurrency in the Twitter business.

Now, there is another change in Twitter's displayed logo.

The current owner of Twitter can do anything with it.

• People can, of course, propagate stray comments.

Experts in social media may say bad words about Musk's rebranding of Twitter.

The fintech sector, especially the cryptocurrency community, may think differently.

• As a novice in payments and digital marketing, I may not be able to make a good guess, but I can write something about the branding of a platform and a business.

Frequent business rebranding may not bear fruit for the new business brand.

• Who are we to pass any comment or say good or bad words about Twitter?

• Nobody has any right to ask anything about Twitter's functioning.

Musk has the right to do whatever he likes with Twitter.

Twitter is like a toy or a newly adopted son/daughter of Musk.

As in a highly-budget movie, the producer can do anything with its actors.

• A sweet romantic heroine may be directed to wear skimpy dresses in specific roles, who were not used to wearing such attire in her past acting career.

As the owner of Twitter, Musk can dress Twitter in whatever dress he wants.

• As a social media platform, Twitter used to wear a blue bird logo for many years.

• Then, it was made to wear a meme coin logo, Dogecoin.

• Now, it is covered with the X-logo.

Graphics I created the image using the logos of Twitter, X, and the dog of Dogecoin.

Is Twitter being groomed to be an adult?

• Plying between the normal and the X-world is very common in films.

• In some places (like India), it is easy to come from X-rated acting careers and become an instant celebrity in traditional acting or singing.

Business platforms have also the option of switching functional areas of business.

Twitter may transform from its social media business to a fintech business.

• We may call it a second innings (like in a sport called cricket).

If Musk wants Twitter to flex its wings for payments and fintech, there won't be any looking back. It may even open its crypto exchange and many more things.

Is rebranding a business good or bad?

As I wrote earlier, rebranding a famous business may involve a lot of risk.

In the past, Google and Facebook rebranded their business names as Alphabet and Meta. Do you think the rebranding of a reputed company is good or bad for its future growth? I ran a poll on LinkedIn.

Only thirty-three percent said it is good to rebrand a business.
Forty percent said it is bad to rebrand a business.
Twenty-seven percent said they don't have any clue.

Screenshot Source

Will Musk succeed in giving a face shift to Twitter business?

• For how many billion dollars had Musk acquired Twitter?

<> The answer is 44 billion dollars.

Whether Musk would succeed in making the new rebranding of Twitter a successful business is a tricky question.

<> Musk invested 44 billion dollars into finding an answer to the question.

It may depend on how all the stakeholders of Twitter react to it.

Who I am

• I am from Science, Technology, Engineering, and Mathematics (STEM). I have also added "Arts" and "Fine Art" to my interests and made my interests STEAM - Science, Technology, Engineering, Arts, and Mathematics.

• I develop solutions for passwords and cybersecurity relevant to cryptocurrencies, blockchain, and blockless distributed ledgers.

I hope the entire blogging community will strive here and elsewhere.

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Text Copyright © 2023 Debesh Choudhury — All Rights Reserved

Thumbnail Image: I created the cover image using the logo of Twitter, a dog image of Dogecoin, and the new brand image X.

All other graphics and videos are credited just below it.

Disclaimer: All texts are mine and original. Any similarity and resemblance to any other content are purely accidental. The article is not advice for life, career, business, or investment. Do your research before adopting any options.

July 27, 2023