Driving the news: Elon Musk started implementing Twitter's long-teased rebranding as X on Sunday night.

Why it matters: Finding the "on" switch for the money printers is crucial because Musk purchased Twitter last year for $44 billion with the aid of other stock investors and billions in loans.

Backstory: Ever since he acquired the social networking company, Musk has talked frequently about transforming the service into a "superapp" that combines a variety of services onto a single platform.

In addition, Musk seems determined to revive the "X" brand, which he has adored since the 1990s (it was the name of the business he co-founded and then merged with PayPal).
And he has been open about his dislike of advertising from the beginning.
Current Situation: The company has so far experimented with a few product features (mainly reserved for paying members), such as extending the character limit for postings and enabling longer video uploads.

To improve Twitter's services for business users, the firm bought job-matching startup Laskie in May.
And he has been devoted to using both carrots and sticks to get people to subscribe to the commercial version of the service.
The euphoria of some investors has already been muted, though.

Fidelity's valuation has been gradually declining, most recently to roughly $15 billion as of April 28.
The company's valuation was most recently reduced to roughly $23 billion by Cathy Wood of Event Ark Invest, who defended Musk's management of it at our BFD event in May.
Musk has his job cut out for him, in my thought bubble.

Super-apps have had tremendous success in Asia, but for a variety of contextual factors, they haven't fared as well in Western internet culture.
And while Musk has been successful in winning over his supporters with his changes at Twitter, such as signing up for the paid subscription service, completely abandoning the Twitter brand may alienate a large portion of the user base that has remained for nostalgic reasons.
Alphabet and Meta are two such digital companies that have changed their branding as a result of corporate reorganizations. What's most significant is that they kept the names of the consumer goods.
The bottom line is that Musk is almost starting from scratch.