Musk's 'Advertisers Go Away' Controversy... X CEO Says "He Was Honest"

"Presented a Clear Perspective," Experts Defend
Experts Say "X Will Face Greater Difficulties"

Elon Musk, CEO of Tesla and owner of the social media platform X (formerly Twitter), publicly cursed at advertisers who stopped advertising on X due to the 'anti-Semitism controversy.' In response, Linda Yaccarino, CEO of X, appeared to defend him.

"Musk's Interview Was Candid"…Linda Yaccarino, CEO of X, Shows Supportive Stance Toward Musk

Tesla CEO and social media platform X (formerly Twitter) owner Elon Musk (left) and Linda Yaccarino, CEO of X (right).
[Image source=AFP Yonhap News]

On the night of the 29th (local time), CEO Yaccarino posted on her X account, saying, "Today, Elon Musk gave a broad and candid interview at 'DealBook 2023,'" adding, "He also offered apologies, explanations, and a clear perspective on our position."

She continued, "X is implementing information independence that may be uncomfortable for some," and explained, "We are a platform that allows people to make their own decisions."

She further stated, "X stands at a unique and remarkable intersection of free speech and the main street of communication," expressing gratitude to "partners who believe in our meaningful work."

Yaccarino's post is interpreted as suggesting that advertisers cannot use advertising as a weapon to impose their ideology or philosophy regarding the essence of Musk's 'cursing interview.'

"'Anti-Semitism Controversy' Was Apologized For, Don't Use Advertising as Blackmail" Regarding the Interview… "X Will Face More Difficulties"

[Image source=Reuters Yonhap News]

Musk attended a public interview at the U.S. daily The New York Times' 'DealBook Summit 2023' the previous day, where he repeatedly cursed while discussing companies that stopped advertising due to recent anti-Semitism controversies on X.

Musk pointed out that advertisers were 'blackmailing' him and emphasized, "If they try to blackmail me with advertising and money, go f- yourself. Don't advertise."

He also claimed that even if X goes bankrupt due to advertisers' boycott, the public would blame those advertisers, not him, and that there would be a 'reverse boycott.'

However, he apologized for posting supportive comments of conspiracy theories involving anti-Semitism on X, saying, "I shouldn't have commented on that particular post. It was the dumbest thing I've done on the platform (X)," expressing regret.

Nevertheless, major foreign media cited industry experts' assessments that Musk's cursing incident is expected to worsen advertiser departures from X.

Tom Forte, an analyst at financial investment firm D.A. Davidson & Co., said, "We see a risk that more companies will stop advertising on X," adding, "Accordingly, efforts to increase subscription revenue on this platform have become more important."

Russ Mold, Chief Investment Officer at online investment platform AJ Bell, pointed out, "Musk said Twitter (X) is worth much less than the $44 billion (about 57 trillion won) he paid, but if advertisers feel deeply offended by Musk's remarks, it is hard to argue that this (low value) state will change quickly."

Another foreign media outlet commented, "The banks that lent Musk billions of dollars to acquire Twitter probably do not want to hear Musk insulting advertisers who left X," noting, "Advertising still accounts for most of X's revenue."