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Twitter has lost 50 of its top 100 advertisers since Elon Musk took over, report says

Twitter loses advertisers

Half of Twitter's top 100 advertisers appear to no longer be advertising on the website. A report from Media Matters for America states that these 50 advertisers have spent almost $2 billion on Twitter ads since 2020 and more than $750 million just in 2022.

Seven additional advertisers have slowed their advertising to almost nothing, according to the report, which was published on Tuesday. These companies have paid Twitter more than $255 million since 2020.

Chevrolet, Chipotle Mexican Grill, Inc., Ford, Jeep, Kyndryl, Merck & Co. and Novartis AG all issued statements about halting Twitter ads or were reported and confirmed as doing so. The others ceased advertising on the platform for a "significant period of time following direct outreach, controversies, and warnings from media buyers."

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Twitter ‘closes offices’ after Elon Musk’s loyalty oath sparks wave of resignations

Twitter closes offices

The crisis at Twitter reached new heights after hundreds of employees were reported to have rejected Elon Musk’s ultimatum to keep working for the business, threatening its ability to keep operating.

As the company temporarily closed its offices to staff on Friday, Twitter users began saying their goodbyes and linking to accounts on other platforms.

#RIPTwitter, #TwitterDown, Mastodon and Myspace were all trending on the platform after the deadline passed on Musk’s ultimatum for the remaining workforce to sign up for “long hours at high intensity” by Thursday, or leave. It has been estimated that hundreds of the remaining staff, already cut from 7,500 to around 3,750 in the wake of Musk’s takeover of Twitter last month, opted to go.

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Murdoch tells Trump he will not back fresh White House bid – report

Murdoch and Trump

Rupert Murdoch has reportedly warned Donald Trump his media empire will not back any attempt to return to the White House, as former supporters turn to the youthful Florida governor Ron DeSantis.

After the Republican party’s disappointing performance in the US midterm elections, in particular the poor showing by candidates backed by Trump, Murdoch’s rightwing media empire appears to be seeking a clean break from the former president’s damaged reputation and perceived waning political power.

Last week, Murdoch’s influential media empire, including right-leaning Fox News, his flagship paper the Wall Street Journal, and the New York Post, each rounded on Trump, calling him a loser and a flop responsible for dragging the Republicans into “one political fiasco after another”.

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Twitter Pauses 'Blue' Verifications After Raft Of Fake Accounts

Twitter B;ue verification stopped

Twitter’s relaunched premium service — which grants blue-check “verification” labels to anyone willing to pay $8 a month — was unavailable Friday after the social media platform was flooded by a wave of imposter accounts approved by Twitter.

Before billionaire Elon Musk took control of the social media platform two weeks ago the blue check was granted to celebrities, journalists and verified by the platform — precisely to prevent impersonation. Now, anyone can get one as long as they have a phone, a credit card and $8 a month.

After an imposter account registered under the revamped Twitter Blue system tweeted that insulin was free, pharmaceutical giant Eli Lilly & Co. had to post an apology. Nintendo, Lockheed Martin, Musk’s own Tesla and SpaceX were also impersonated as well as the accounts of various professional sports figures.

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Things Sure Don't Seem To Be Going Well At Twitter

Musk in trouble

Welcome to the new Twitter. Here, everyone can be anyone and for the low, low price of $8, the company will give you a veneer of legitimacy to back it up ― at least temporarily.

Nearly two weeks into the company’s Elon Musk era, half of the employees have been laid off (prompting a class action lawsuit), large advertisers have paused their spending (leading to a “dire” financial situation), and Twitter’s previous system for verifying that people are who they claim to be has been deliberately demolished.

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Things Sure Don't Seem To Be Going Well At Twitter

Twitter has problemsWelcome to the new Twitter. Here, everyone can be anyone and for the low, low price of $8, the company will give you a veneer of legitimacy to back it up ― at least temporarily.

Nearly two weeks into the company’s Elon Musk era, half of the employees have been laid off (prompting a class action lawsuit), large advertisers have paused their spending (leading to a “dire” financial situation), and Twitter’s previous system for verifying that people are who they claim to be has been deliberately demolished.

That means anyone can now set up an account pretending to be anyone else, and pay $8 for the checkmark that used to signify the account had been verified, but now means nothing.

That’s how “George W. Bush” on Thursday came to tweet, “I miss killing Iraqis ????” only for “Tony Blair” to respond, “Same tbh.”

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Mark Zuckerberg confirms broad layoffs to begin at Meta – report

ZuckerbergMeta CEO Mark Zuckerberg confirmed to executives that the company will begin laying off employees on Wednesday morning, the Wall Street Journal reported on Tuesday.

Zuckerberg addressed hundreds of executives at the company on Tuesday morning, foreshadowing large cuts. He mentioned recruiting and business teams as groups that would see layoffs, according to the WSJ, adding an internal announcement of the company’s layoff plans is expected around 6am eastern time on Wednesday.

Zuckerberg said he was accountable for the company’s downturn, people familiar with the meeting told the newspaper, with overoptimism about growth leading to overstaffing.

More...Mark Zuckerberg confirms broad layoffs

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