• AutoTL;DRB
    17 months ago

    This is the best summary I could come up with:

    Though X has still proven itself as the hub for fast-breaking news — as this weekend’s OpenAI drama proved — the nature of its business is still dependent on advertising, which makes up the majority of its revenue.

    While brands generally understand the risk of running ads against user-generated content, they don’t typically find themselves in a situation quite like this, she also points out.

    But they’re not accustomed to a platform’s owner amplifying misinformation and hate speech, and emboldening conspiracy theorists,” Enberg notes.

    Twitter’s influence has always been larger than its user base and ad revenues, and while the platform’s cultural relevance has declined, Musk and X are still very much a major part of public conversation,” she adds.

    Ahead of this, X’s ad revenues were already forecast to decline by 54.4% from 2022 to 2023 — a sizable drop for the platform that Musk has now run for roughly one year so far.

    Forbes recently reported that top advertising executives have been pressuring Yaccarino to resign, suggesting her own reputation is now at risk as a result of Musk’s actions.

    The original article contains 933 words, the summary contains 182 words. Saved 80%. I’m a bot and I’m open source!