**Elon Musk Addresses Advertiser Reaction to Antisemitic Post**
**Musk’s Stern Response to Advertisers**
Elon Musk recently spoke at the New York Times’ DealBook Summit about the repercussions he faced after endorsing an antisemitic post on the platform formerly known as Twitter, referred to as X. According to Musk, the advertisers leaving the platform could have a detrimental effect.
**Musk’s Strong Message to Advertisers**
He had a clear message for companies such as Disney, Apple, and IBM who chose to withdraw their advertising in response to his recent actions. Musk adamantly expressed that these companies should refrain from advertising on the platform. He further added, “If someone is going to try and blackmail me with advertising? Blackmail me with money? Go fuck yourself. Go fuck yourself. Is that clear? Hey Bob, if you’re in the audience. That’s how I feel, don’t advertise.”
**The Impact on Disney and X**
Whose Ad Spending is More Crucial?
In light of Disney’s decision to pause advertising on X this month, Musk seemed unfazed during the summit, claiming that Disney’s ad spending is more crucial to X than vice versa. While Disney is valued at nearly $170 billion, X was valued at $19 billion after Musk took over Twitter in 2022, making it worth less than half of what he paid for the platform a year ago.
**The Origin of X’s Advertising Crisis**
X’s Downward Spiral
X’s advertising crisis began on November 15 when a user made an antisemitic post, prompting Musk to publicly acknowledge it. This move was widely interpreted as lending support to the “great replacement” conspiracy theory, popular among right-wing extremists, and caused a stir among advertisers.
**Musk Acknowledges his Mistake**
Musk acknowledged his misstep during the DealBook Summit, referring to his public support of the antisemitic post as “one of the most foolish if not the most foolish thing I’ve ever done on the platform.” This acknowledgment comes on the heels of his recent trip to Israel, where he met with the country’s president and prime minister, who expressed concerns about the prevalence of antisemitism on social media platforms, including the one led by Musk.
In summary, Musk’s recent remarks and endorsements have sparked a significant response from advertisers and have put the platform’s financial stability in question. The aftermath of this controversy will likely have significant implications for X’s future.
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