Elon Musk's Explosive Outburst at Advertisers During 2023 DealBook Summit
Summary:
Elon Musk, the owner of the social media platform X (previously Twitter), made headlines with an expletive-filled response during the 2023 DealBook Summit to advertisers leaving his platform over antisemitic posts. Musk vowed that the world would blame the advertisers for the company's potential downfall. The loss of advertisers, which includes major brand names, could account for a decrease of $75 million in earnings. Critics and supporters alike have differently interpreted this live broadcast event.
Famed billionaire Elon Musk has once again drawn attention, following a profanity-filled tirade during a live broadcast at The New York Times' yearly gathering. Musk, the proprietor of social media giant X —previously known as Twitter, took center stage at the 2023 DealBook Summit in New York on November 29, expressing his anger at marketers severing ties with the platform due to his alleged propagating of anti-Semitic content. Musk had previously expressed support for content that was subsequently labeled by the White House as "anti-Semitic and racially prejudiced hate", for which he later apologized and such post was deleted thereafter.
In a terse response to Andrew Ross Sorkin's inquiry regarding advertisers pulling out of the platform, Musk retorted with an explicit warning against any attempts to manipulate him using ad revenue. He added a biting salutation to Disney's CEO, Bob Iger, who was supposedly present at the event, given that Disney is one of the corporations that have retracted their advertisements from platform X.
Musk suggested the advertising boycott would lead to the downfall of the company, with the blame falling squarely on the advertisers that backed out. He promised meticulous documentation of these events. The New York Times' report forecasted a jeopardy of about $75 million in earnings due to withdrawals from more than 200 marketers such as Airbnb, Coca-Cola, and Microsoft.
Media Matters disclosed earlier this month that advertisements for companies like Apple, Bravo, Oracle, Xfinity, and IBM were found adjacent to posts glorifying Hitler and the Nazi Party on X. A report by NPR on November 25 detailed the loss of half the top advertisers from the platform after Musk's takeover. Major brands like Ford, Verizon, Chevrolet, Chipotle, and numerous pharmaceutical giants including Merck have ceased advertising recently.
Commenting on the situation, Crypto adviser Aubrey Strobel found humor in Musk's tirade, pointing out the unexpected outburst resulted in CNBC violating FCC guidelines, thus incurring a fine. Musk didn't hold back, criticizing those who prioritize image over values. He declared he has done more for the environment than any other human, stating he is concerned over actual good deeds rather than mere perception. Political analyst Collin Rugg praised Musk, stating this situation is exactly why Musk was ideal to acquire Twitter.
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Published At
11/30/2023 4:42:05 AM
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