So little?
I’m not a financial expert, but let me give my take:
Its value as a company is largely an imaginary idea. It was never worth what Musk paid for it, but it still had a remarkably high valuation based on its actual expenses and revenue.
I don’t know what the real numbers are, the revenue, expenses, assets and liabilities.
I would be shocked if a $75m loss of revenue was something they could easily shrug off.
I could, but it’d involve being legally dead
This is the best summary I could come up with:
According to internal X sales team documents reviewed by The New York Times, X may lose “up to $75 million” as more than 100 major brands—including Airbnb, Amazon, Coca-Cola, Google, Microsoft, Netflix, and Uber—have stopped advertising, while “dozens” more are considering pausing ads on the platform.
Recent data provided to The Independent by the market intelligence firm Sensor Tower “suggests that just six of the companies that pulled out” initially—including Apple, IBM, Sony, Comcast, and Paramount—accounted for 7 percent of all US ad spending on the social network."
According to The Independent, advertisers aren’t just afraid of ads appearing next to antisemitic posts, but “must also contend with the risk of their money directly funding extremists” due to X’s recently launched creator revenue-sharing program.
CNN noted last week that remaining advertisers include the NFL, Walmart, State Farm, Wendy’s, Office Depot, The New York Times, The Washington Post, The Economist, USAA insurance, Formula 1, and Mondelēz International.
Internally, X seemingly continues to blame the current advertiser exodus exclusively on watchdog groups calling out antisemitic content, which The Washington Post reported has “surged more than 900 percent on the platform.”
In an internal meeting with employees at X last week, Yaccarino “made no mention” of Musk’s “endorsement” of an antisemitic post and instead “attributed the company’s problems” to Media Matters, The Times reported.
The original article contains 1,001 words, the summary contains 221 words. Saved 78%. I’m a bot and I’m open source!
Seems pretty clear now that either Elon is completely incompetent or he’s purposely destroying Twitter. I could go 50/50 on which more is more true. Both could true also.
I’m almost tempted to create a blue check anonymous account and just start typing the most horrific shit on advertiser tweets. Just go full racist maga caricature, young about woke culture and whatever other nonsense those idiot posts. Can I promote tweets, because if I tie something particularly bad, I might promote that. Just throw some gasoline on that fire.
Eh, who am I kidding? My brain’s just not wired like that.
