Elon Musk’s social media enterprise X, previously Twitter, took a flip for the more serious in November 2023 when he informed advertisers to “go f**k yourselves” on stage with the New York Instances. On the time, Musk stated he refused to be “blackmailed” into “censorship,” responding to some massive manufacturers who minimize their advert offers with X after a reported rise in anti-semitism, together with controversial comments on Jews from Musk himself. The ad-dependent enterprise expectedly suffered for months after Musk stated the quiet half about advertisers out loud – maybe too loud. On Wednesday, Musk softened his tone.
“It wasn’t to advertisers as an entire,” Musk stated on stage on the Cannes Lions Competition. “It was with respect to freedom of speech, I believe you will need to have a world free speech platform, the place individuals from a variety of opinions can voice their views.”
“In some instances, there have been advertisers who had been insisting on censorship,” Musk stated. “On the finish of the day … if now we have to select between censorship and dropping cash, [or] censorship and cash, or free speech and dropping cash, we’re going to choose the second.”
“In fact, advertisers have a proper to seem subsequent to content material that they discover appropriate with their manufacturers,” he stated. “That’s completely cool. What just isn’t cool is insisting that there might be no content material that they disagree with on the platforms.”
Musk retreated from his struggle on advertisers this week at a time when X’s advert enterprise is seeing some indicators of life. CEO and unlucky ache sponge for all of Elon’s unhealthy habits, Linda Yaccarino, informed workers final week that 65% of advertisers have returned since January. X has turned to smaller companies because it struggles to recoup advert {dollars} from greater manufacturers equivalent to Apple and Disney.
However, it’s exhausting to overlook Elon’s feedback to DealBook’s Andrew Ross Sorkin in November. Right here’s a refresher:
MUSK: “I hope they cease.”
SORKIN: “You what?”
MUSK: “Don’t promote.”
SORKIN: “You don’t need them to promote?”
MUSK: “If someone’s going to attempt to blackmail me with promoting, blackmail me with cash, go fuck your self.”
SORKIN: “However—”
MUSK: “Go…fuck…your self.”
Even earlier than Musk informed advertisers to go fuck themselves, the X enterprise was not doing effectively. Within the first quarter of 2023, the social media platform lost $456 million.
To drive up income, Musk has talked about for years liberating X from the ad-supported enterprise mannequin. Within the final yr, Musk has pushed job itemizing, AI chatbots, and subscription providers into X. The corporate filed for state licenses to conduct monetary transactions, a part of X’s plan to develop into the subsequent Venmo, in accordance with Bloomberg.
For now, nevertheless, X nonetheless primarily makes cash from its promoting enterprise. Musk could have gotten somewhat forward of himself in November, as typically occurs, and now he’s being compelled to stroll again his feedback. It’s clear he’s staying true to his free speech absolutist agenda, no matter which means, however now in a brand-safe method. Congratulations advertisers, it’s time to un-fuck yourselves.