X owner Elon Musk said last year’s infamous “fuck you” comment was not aimed at all advertisers, as his social media company tries to lure back businesses that had left the site.
“It’s important to have a global free speech platform where people with a wide range of views can express their views,” he added. Axios was first to report the comments.
X owner Elon Musk has been asked to explain comments he made last year telling advertisers to “fuck you.” / Splash News
Musk said he lashed out after “several cases” at a conference in New York last fall. [where] Some advertisers called for censorship.”
“We are not going to agree to be censored for money, but we are going to support freedom of speech,” he said.
While Musk acknowledged that “advertisers certainly have the right to show their ads next to content that aligns with their brand,” he scolded companies that “say that content they don’t agree with shouldn’t be on their platforms.”
In November, Musk made headlines while appearing at the DealBook Summit in New York where he was asked about advertisers fleeing X in response to revised content moderation policies implemented after the company acquired what was then known as Twitter two years ago.
“Fuck you,” Musk blasted, with Disney CEO Bob Iger sitting in the audience.
Disney is one of several blue-chip companies that have stopped advertising on X following reports that the site has not adequately policed the spread of hate speech, including anti-Semitic content.
The loss of advertisers has had a negative impact on the company’s balance sheet.
Musk attended Cannes Lions on Wednesday and is seen being interviewed by WPP CEO Mark Read, left. / Splash News
Internal leaks have revealed that X’s revenue has plummeted since Musk took control of the company.
X’s revenue for the first half of 2023 was $1.48 billion, down about 40% from the same period last year.
Company X also lost $456 million in the first quarter of last year, according to documents seen by Bloomberg News.
The news site reported in December that X is on track to generate $3.4 billion in revenue in 2023.
X has been losing money since Musk bought the company, then known as Twitter, in late 2022. AFP via Getty Images
By comparison, the company generated revenue of $4.4 billion in 2022.
Musk bought the company, then known as Twitter, in October of that year.
Musk, who owns about 75% of X’s parent company, X Holdings Ltd, wants to turn X into an “everything” app that incorporates peer-to-peer payments like Venmo.
According to Bloomberg, Company X has applied for licenses to become a money transmitter in all 50 states.
So far, 28 states have approved the permits, according to Bloomberg.
Elon Musk clarifies ‘go f–k yourself’ comment amid Cannes Lions
X owner Elon Musk said last year’s infamous “fuck you” comment was not aimed at all advertisers, as his social media company tries to lure back businesses that had left the site.
“First of all, it wasn’t aimed at advertisers as a whole. Respect for freedom of speechMusk said at a conference of advertising industry professionals. Cannes Lions Conference in France on wednesday.
“It’s important to have a global free speech platform where people with a wide range of views can express their views,” he added. Axios was first to report the comments.
Musk said he lashed out after “several cases” at a conference in New York last fall. [where] Some advertisers called for censorship.”
“We are not going to agree to be censored for money, but we are going to support freedom of speech,” he said.
While Musk acknowledged that “advertisers certainly have the right to show their ads next to content that aligns with their brand,” he scolded companies that “say that content they don’t agree with shouldn’t be on their platforms.”
In November, Musk made headlines while appearing at the DealBook Summit in New York where he was asked about advertisers fleeing X in response to revised content moderation policies implemented after the company acquired what was then known as Twitter two years ago.
“Fuck you,” Musk blasted, with Disney CEO Bob Iger sitting in the audience.
Disney is one of several blue-chip companies that have stopped advertising on X following reports that the site has not adequately policed the spread of hate speech, including anti-Semitic content.
The loss of advertisers has had a negative impact on the company’s balance sheet.
Internal leaks have revealed that X’s revenue has plummeted since Musk took control of the company.
X’s revenue for the first half of 2023 was $1.48 billion, down about 40% from the same period last year.
Company X also lost $456 million in the first quarter of last year, according to documents seen by Bloomberg News.
The news site reported in December that X is on track to generate $3.4 billion in revenue in 2023.
By comparison, the company generated revenue of $4.4 billion in 2022.
Musk bought the company, then known as Twitter, in October of that year.
Musk, who owns about 75% of X’s parent company, X Holdings Ltd, wants to turn X into an “everything” app that incorporates peer-to-peer payments like Venmo.
According to Bloomberg, Company X has applied for licenses to become a money transmitter in all 50 states.
So far, 28 states have approved the permits, according to Bloomberg.
The Post has reached out to Mr X for comment.
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