Musk lashes out at advertisers leaving X over rise in hate speech
Bobby Allyn:
It sure does seem like it.
I mean, this was an act of pure self-sabotage. Remember, 90 percent of X's revenue comes from advertisers. Since Elon Musk made waves by endorsing an antisemitic conspiracy theory, there has been an exodus of major corporations away from X.
Linda Yaccarino, who was brought in as X's new CEO, has been trying to court some of those fleeing advertisers back to the platform. But now we have the world's richest man, who runs X, literally telling the brands to go eff themselves, cursing them out.
I can't imagine this does anything but make the problem much worse. And Musk even said himself from that very stage that advertisers are going to kill the company. He seems even to be saying what many outside observers have been saying for a while, which is, it sure does seem like bankruptcy is a fait accompli, that it's just a matter of not — it's not a matter of if, but when X files for bankruptcy.
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