In a standout display of resilience, Elon Musk, CEO of X (formerly Twitter), has taken a strong stance against attempts of blackmail by advertisers during a New York Times conference. His commentary sharply criticized Disney's CEO, Bob Iger, stating that a boycott by advertisers could spell the end for X. When asked whether he, as the world's wealthiest individual, would sustain the platform financially, Musk hinted that he would accept a monetary failure, leaving advertisers to explain themselves to the public.
Controversy Sparks Over Musk's Marked 'Truth'
The controversy ignited after Musk marked a post as 'factual truth' that was spread as white hate by Jewish organizations, among others. This led to various prominent corporations halting their advertisements on X, and researchers demonstrating how ads were placed alongside Nazi posts.
Advertisers Exodus: X's Financial Future Hangs in the Balance
Following weeks of controversy, Musk conceded that his post was a mistake and stated his views had been misunderstood. He emphasized his non-antisemitic stance and made a visit to Israel, including a Kibbutz raided by Hamas. According to Musk, this visit bore no relation to the controversy surrounding his post.
Major Brands Show No Sign of Return to X
The exodus of advertisers from X due to Musk's controversial remarks has escalated, raising questions about the platform's financial stability and possible collapse. Elon Musk's confrontational approach, coupled with the decline in advertising spending on X, has cast a shadow over the future of the platform.