#XSuperApp

The latest news about X, formerly known as Twitter, revolves around its transformation into an "everything app" under Elon Musk's leadership. Here are some key updates:

Recent Developments

- *X Money*: X is testing a digital payment service, "X Money," developed in partnership with Visa, to compete with PayPal and Venmo.

- *Grok AI*: X has introduced Grok, an AI chatbot that curates personalized news summaries and enhances user interactions. Grok has gained memory to remember previous conversations and is now available on Telegram for Premium users.

- *Video Features*: X has launched a dedicated video tab for US users, providing a space for vertical videos, and is testing video responses to posts.

- *Community Notes*: X's Community Notes feature has reached 1 million contributors worldwide and has been updated to reduce manipulation.

Financial and Leadership Updates

- *Funding*: X Corp. is seeking $44 billion in funding, matching Musk's original acquisition price, amid growing financial struggles and expansion ambitions.

- *Leadership*: Linda Yaccarino serves as CEO, focusing on operational autonomy, while Musk concentrates on product design and long-term strategy.

- *Financial Value*: Fidelity estimated a 79% decline in X's value by September 2024, but recent developments signal renewed investor confidence.

Controversies and Challenges

- *Content Moderation*: X's approach to content moderation has sparked debate, with concerns over brand safety and antisemitic content.

- *Regulatory Issues*: X has faced scrutiny from regulators, including a lawsuit from the SEC over delayed disclosure of Twitter stock holdings.

- *User Base*: X lost 11 million EU users, dropping below pre-acquisition levels, according to its latest DSA transparency report.