Financial Associated Press, October 27 (editor Ma Lan)Twitter used to be the world's largest social media site, but its development has been controversial since it was acquired by Musk last year.

At an internal meeting on Thursday, Musk and CEO Linda Yaccarino named Youtube and LinkedIn as their main future competitors to X (formerly Twitter), according to people familiar with the matter.

YouTube is a video content website owned by Alphabet Inc-CL C, which mainly distributes video content from the secretary general, while LinkedIn is a job site owned by Microsoft Corp. Both of them occupy a considerable market share in the segment and are regarded as leaders in their respective industries.

X is ambitious to compete with the two companies, and it is said that Musk and Yaccarino hope to mark the first anniversary of Musk's takeover of Twitter. In addition, it is possible for X to create a newsletter service called X Wire for Standard American Newswire's PR Newswire, but this strategy is still in the private discussion stage.

Full blossom

Musk's desire to portray X as a polyhedral platform is nothing new. He has long since revealed his admiration for the Chinese social platform Wechat and has repeatedly mentioned plans to create an American version of Wechat.

After his $44 billion acquisition of Twitter, the plan finally entered the experimental stage. Musk has fired most of his former Twitter employees over the past year and made unprecedented changes to the platform's policy. This decision directly led to the withdrawal of a large number of advertisers.

So far, according to some data companies, advertisers on the X platform have not returned. On the other hand, X insists that 90% of the big customers on the platform have returned in recent months.

In addition, Musk and Yaccarino also announced a record number of online hours, with the number of monthly active users growing back to 540 million. But there are also a number of data companies that doubt the credibility of this statement, and according to third parties, the number of X landers is significantly lower than in the same period last year.

But Musk and Yaccarino are clearly confident. In an internal memo, Musk and Yaccarino said the company was ready to grow and boasted that X had achieved a decade of innovation in just 12 months.

So far, X executives have not revealed what the X version of YouTube and LinkedIn look like. In addition to new businesses such as video, recruitment and news, X has been building its own payment network. Financial instruments will provide more opportunities for netizens and enterprises, it said in its latest memo.