Companies pulling ads from X: Disney, Apple, IBM and more -- the list from Axios

[ancianita]

Apple: Sources told Axios' Ina Fried that the company was pausing its ads on X.

IBM: The company said Thursday in a statement shared with Axios that it "has zero tolerance for hate speech and discrimination, and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation."

Disney: A source confirmed to Axios on Friday that it would be pausing ads on X
.
Comcast/NBCUniversal: Axios confirmed on Friday evening that Comcast is also pausing advertising on X.

Lions Gate Entertainment: A spokesperson for Lions Gate Entertainment confirmed to Axios that it would be pulling all advertising from X.

Warner Bros. Discovery: The company is also pausing its presence on X, per Variety on Friday.

Paramount: A spokesperson confirmed to Axios on Friday that it was pausing ads on X.

Of note: Johannes Bahrke, a spokesperson for the European Commission, confirmed Friday at a press briefing that it would be freezing advertising on X. Bahrke said the EU's executive body had "seen an alarming increase in disinformation and hate speech on several social media platforms in recent weeks, and X is certainly quite effective of that."

How it happened: Musk posted to X on Wednesday "[y]ou have said the actual truth" in response to an X post that claimed Jewish communities support "dialectical hatred against whites."

The White House denounced that post in a statement on Friday: "We condemn this abhorrent promotion of Antisemitic and racist hate in the strongest terms, which runs against our core values as Americans."

X did not immediately respond to Axios' request for comment Friday on the organizations pausing their ads on the platform.

https://www.axios.com/2023/11/17/companies-pulling-x-twitter-ads-apple-disney-ibm

[Stuart G]

1. Just so you know....X is What the former location ..."Twitter" is now called.

Musk has acknowledged he overpaid for Twitter, which he bought for $44 billion, including $33.5 billion in equity. More recently, he said Twitter is worth less than half what he paid for it. It's unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company.

So Musk tweeting his antisemitism on Twitter could devalue Twitter even more.
.....Musk is as "stupid as Trump." Twitter could become worthless as many choose to go elsewhere due to Elon Musk..

I don't use Twitter...I use "Democratic Undergound" as my source for news. (as well as other places on the internet)

[ProfessorGAC]

9. I Think Fidelity Still Overestimated

This is a mature platform. It's providing the service It's always going to, despite the pipedream about the banking tie-in.
Just using basic financial principles based on their fundamentals, I don't think they're worth over $16 billion, and that's being generous.
Now, further revenue hits aren't going to help, but since they're non-public now, there won't be major news about declining equity value. No outraged stockholders.

[ancianita]

19. Totally agree. This is big corporate knocking down bad corporate, quite a refreshing turn, imo.

[Stuart G]

22. If people stop using twitter, totally & completely then it will become totally worthless.

That is the exact way to hurt Elon Musk.

[PatSeg]

25. It appears that Musk loves his hatred

more than he does his money. What a very strange and dangerous man. If he wasn't an immigrant, I'll bet he'd be running for president.

[BigOleDummy]

2. At the risk of sounding

like a bigoledummy why would anyone still be on twitter/x? Elon has shown himself to be openly racist and if not a nazi at least a fellow traveler. It's much easier than you think. I quit ALL "social media" years ago and have never been happier. Between DU, the Washington Post and AlterNet I have all the news I need.

[videohead5]

3. The idiot is destroying X/Twitter

He is an incompetent fool.

[BigOleDummy]

4. Agreed

But an incompetent fool with money to burn and THAT makes him dangerous.

[BootOutTheGoons]

8. I sometimes login to post bile at MAGA scum

That includes bile for Eloon himself. Otherwise my account is mostly inactive now.

[BigOleDummy]

15. Now THAT....

... is a use I can get behind lol !

[BootOutTheGoons]

16. Kid Rock was the most recent honoree

That's because I'm sorry to hear about Kid Rock. No nothing happened to him. I'm just sorry to hear about him.

[BigOleDummy]

17. Few deserve it better!

Well done indeed

[BootOutTheGoons]

18. Thank you

[BigOleDummy]

24. Welcome...

.. to the DU family! I've meant to add that in every reply to you lol, still on first cup of coffee though so only semi-human *blush*

[BootOutTheGoons]

26. Thank you!

I feel you there. I don't function without caffeine either

[ancianita]

20. They're not ON X, they do ad buy there for extremists, but now they've "paused" their money stream. OK by me.

Keep in mind that this is info, and not intended to help validate your smart personal news practices; just to inform that the X market has dropped as a result of these corporate actions.

[PatSeg]

27. I've never liked Twitter

Musk might be doing the world a favor by killing it. This latest racist crap is just another nail in the coffin.

[spinbaby]

30. Because of gardening Twitter

Most of the British gardeners I followed on Twitter are still on X. Twitter wasn't Just about politics, it was a convenient way for people with common interests to connect. I haven’t yet found a good replacement for gardening Twitter. I also follow some historic clothing accounts—same story there.

[Takket]

33. a large segment of the population pays no attention to politics and has no idea this is going on

for example an incredible amount of traffic on X is driven by sports, which all involves people paying little to no attention to any of the posts about politics or Muskrat

[Voltaire2]

34. It is mystifying

Consider how quickly Anheuser-Busch capitulated over the Bud Light Dylan Mulvaney 'controversy'.
Your eyeballs on ex-twitter put money in musk's pocket.
But apparently it is just too much to ask.

[JustAnotherGen]

5. Until

They need to sell something. We've seen this moral outrage from Corporate America before. They then turn right around and do it again.

It is wonderful - as long as "there ain't no takesy backsey".

[TSExile]

13. Yup

Remember how many advertisers "paused" donating to the Republican party after 1/6? That sure didn't last long.

[ancianita]

21. I hear ya. But they really do hurt X and are rich enough not to really need it anymore. That's a probability, imo.

[PatSeg]

28. Sadly, that is true

At least for now, they are depriving Twitter/X of their money though.

[ancianita]

32. Glad you agree, This is a Big Multi-Corporate Bitch Slap at this NAZI billionaire.

[PatSeg]

35. And Musk is so delusional,

he thinks he can do anything without major repercussions. All that money and success has gone to his head and he thinks he is some kind of god. Alas, he is still human and there is a limit to what one can accomplish with money.

[ancianita]

37. heh heh...

I'm just glad he's not trying to run for president.

[PatSeg]

39. Yes and I'm sure if he wasn't an immigrant

he would be running for president. After that? King of the world I suppose. He reminds of the diabolical villains in Saturday morning cartoons who want to "rule the world". But then again like General Zod in Superman, once you are master of all you survey, what else is?

In essence, I don't believe such people are ever satisfied or happy. Men with big time daddy issues can be very detrimental and even dangerous.

[malaise]

6. Good

Rec

[BootOutTheGoons]

7. Paid 44 billion. Now reportedly worth 4 billion

Gee, think that number will drop even further because advertisers are fleeing?

He thought being a nazi would be good for business? What a maroon. What an Eloon.

[ProfessorGAC]

10. 4 Billion Is Too Low

They're tangible assets are worth way over $4 billion. Around $14 billion in assets before the Musk deal, $10-11 billion in tangible assets.
But, they're still worth even less than Fidelity's recent estimate, IMO.
$16 billion TOPS. Maybe only 14.

[BootOutTheGoons]

11. I've heard claims ranging from 4 billion to around 10

Best case scenario, Eloon set fire to 30 billion dollars in the name of fighting "woke mind virus". He's ruined Xchan. All of this just to crank up hate.

Now he's going to lose even more with Xchan bleeding advertisers.

[ProfessorGAC]

12. Absolutely

You'll see no defense of that lucky, silverspoon twit from me.
Historically, a mature company will have market cap of 15-25% greater that tangible assets.
So, I'll stick with 13 or 14 billion.
And yes, he's set fire to $30 billion because despite his luck, his grasp of how business witjs is tenuous at best.
And, he's pledged equity in another company with grossly overvalued stock.
If the market ever realizes Tesla is a durable goods manufacturer that equity he pledged is going to be a much bigger share of the company than he expected.

[Liberal In Texas]

14. Pausing them? How about cancelling all ad buys already made and in the future? n/t

[ancianita]

23. They could, indeed; Elon knows they don't want to do business with X markets, and it could be permanent.

He's already regulated by the EU, so this continues his pain. I hope he's going the way of Truth Social.

[Stuart G]

29. So, this is already happening, and X is now becoming ...WORTHLESS.

WHEN EVERYONE STOPS USING X, IT WILL BE TOTALLY WORTHLESS.

[brush]

31. Hahahaha. Musk stikes and weakens X again. Let's face it, he's an anti-Semitic, racist, Putin-favoring winger.

Last edited Sat Nov 18, 2023, 12:45 PM - Edit history (2)

He's revealing himself to be who he is more and more.

His continued displays of poor business acumen remind me of what a wag once said of George W. Bush: "He was born on third base and stole second."

[Initech]

36. Hanging out with Nazis and facists is bad. Don't hang out with Nazis and fascists.

Fuck you, Elon.

[ancianita]

38. Interesting that he doesn't wonder why those other corps don't hang out with Nazis. You'd think he'd maybe suspect

Last edited Sat Nov 18, 2023, 04:15 PM - Edit history (1)

that there must be something they might know that he doesn't (?).

Nah... that might require too much unmanly introspection about his past.