After facing legal pressure from a court-order to buy Twitter, Elon Musk finally closed the $44-billion-dollar deal and took ownership of the company on October 27. However, in less than a week since the takeover, he faced tremendous pushback from advertisers on his decision to allow unrestricted free speech as well as accounts of the former US President Donald Trump and his supporters back on the app. Many Trump supporters were allegedly banned from twitter regarding the veracity of 2020 presidential election and have been investigated for instigating violence through their tweets during the Capitol attack on January 6. GM, a key advertiser announced this past Saturday, that they would end all sponsorship advertising until they determine “Twitter’s new direction.” In addition, things may fare worse for Twitter as various CEOs and civil society organizations are imploring additional companies to suspend advertising if Musk takes a laxed approach to content moderation.
The following sources were used for the article:
- https://www.theglobeandmail.com/business/article-elon-musk-twitter-takeover-timeline/
- https://coinpedia.org/news/elon-musks-twitter-acquisition-stirs-trouble-advertisers-threaten-to-boycott/
- https://www.cnn.com/2022/11/01/tech/elon-musk-twitter-advertising-fallout/index.html