General Mills, Audi pause Twitter ads, will evaluate site
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* Audi
* GM
* General Mills
* L'Oreal
* Pfizer
* Volkswagen
You then have Interpublic and WPP telling their clients to pause ads.
People really don't understand the power imbalance. Twitter desperately needs these advertisers but for these brands the ad spend is in low single digits and the possibility of harming their brand just simply isn't worth it.
What percent of Twitter's revenue did these advertisers make up?
The whales that for a company like Twitter would be a large percentage of their revenue.
I don’t think there’s a difference between “we say we’re trying and are completely incompetent” and whatever Twitter is doing now.
This way, if nothing happens, they can always come back silently (or spinning the story in a way they want). If some PR disaster happens, they are safely away from it.
For me, this was to be expected and is a testament of how important Twitter has become in the marketing world that it isn't bleeding out advertisers even quicker.
From what I understand, they are going to wait until it's clear how much of a conflict of interest him being CEO of Twitter (in terms of advertising) + Tesla is.
why would it be a conflict of interest, unless the CEO of twitter is deliberately stopping car companies from advertising on twitter?
They don't have to start advertising, because they have never had to buy ads, people are willing to talk about them for free, and a lot of that discourse was due to Musk's tweets.
Literally no one I know with Teslas (and it's many many) even using Twitter.
Furthermore, there are many other high-profile companies that are extremely well known that simply opt not to advertise. Look at Costco. There's no Twitter mouthpiece and no advertising yet everyone either shops there or knows about it, but doesn't shop there.
The next time I have to buy a car, my decision to buy or not a Tesla will be heavily influenced by the information I already have, which comes from there (obviously, I'll also take other things into account and even pay a visit to the dealer - but still, I wouldn't consider it if nobody told me anything about the brand).
I could believe, maybe, 'millions'. A hundred thousand dollars buys you a lot of ads on twitter.
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Why didn't Tesla buy Twitter? Why could Tesla start spending massive amounts of money on Twitter Ads if it couldn't buy it?
SolarCity was in a related field, which was at least a fig leaf or minimal justification. There's no real justification to buy Twitter or buy ad space on Twitter.
Elon is not actually the god emperor of Tesla. He's been able to sell all of his decisions as improving the future of Tesla (and thus humanity). Of course I could be completely wrong here; I don't have a crystal ball.
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I think about how we might get to a post-scarcity society, and what post-scarcity means. People like Gene Roddenberry have done a great job portraying this future, but not how we get there.
Much of our political discourse is between people who disagree about whether or not we are living in a time of scarcity or post-scarcity. Many people in the city live in the low-scarcity mindset. Many people in the country live in a scarcity mindset. This isn't determinative, it's relative. Just being one place or the other does not dictate how you view the world, but it is indicative.
We don't talk about scarcity directly in political speech. It's a deep assumption about the world. It's so deep you may not have even realized that you had taken a side before now.
Are taxes and economic activity a zero-sum game? Obviously the other side is wrong, why would you even entertain the question?
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Why the fuck did I bring up Star Trek and post-scarcity? Because Twitter is a place where fights happen. I'm very happy that people are sending tweets instead of bombs, but we have to continue advancing our level of discourse, and I'm not at all convinced that online public speech is the way to do that; I'm especially not convinced that we can do that in short form; and I'm especially especially convinced that the process of advancing the discourse will not be funded by ads.
Boring Co used SpaceX and Tesla engineers for preliminary engineering work (and also for the Vegas tunnel) without reimbursing either company, and Boring Co used SpaceX's Hawthorne parking lot for its original test tube without leasing the land. BoringCo has not paid for the Teslas it uses, it received them for free. (As Tesla claims not to spend any money on marketing, giving these Teslas could not have been a marketing expense for Tesla unless they deliberately misrepresenting their financial statements, which is an entirely separate can of worms.)
Tesla didn't pay SpaceX to send a Tesla into space. (See above.)
Twitter used Tesla engineers, without reimbursement, to evaluate code just last week.
One of the fundamental misunderstandings comes from the fact that one's usage of a site like Twitter is generally worth more to the ad-buying community than to the users themselves. This is why Facebook, arguably the strongest social platform, does not charge its users.
Also, users create the content so charging them means you have less inventory to sell.
They’d need something like 20% of what Musk claims is their fake, bot-inflated mDAU—far more than existing blue checks, Blue subscribers, and “heavy tweeters” combined—subscribed at $8 to substitute for advertisers.
But $8 for a blue checkmark and ads? No thank you. I will certainly not pay a company that still treats me like a commodity if I can avoid it.
The $8 is for algorithmic juice for your tweets and half the normal ads, as well as the blue check.
People are not that stupid
[edit: hedge between 12M and 13M]
An ad-independent revenue source is a good idea, but not the blue checkmark program, as it currently means some kind of identity verification, and 'random' folks having it may cause problems:
> Want to call yourself Citibank Password Verification? Here's your blue tick, thanks for the $8. Want to say you're the Democratic Party of Wisconsin and announce you're abolishing the police? $8. Call yourself WXBM Local News Arkansas and invent a school shooting? Yours for $8
> Trump is banned? No problem, you can be Trump for 8 dollars, verified by Twitter. Or you can be Barron Trump and "expose the dark truth about your parents". Whatever. Go mad.
* https://twitter.com/ariehkovler/status/1588306300450263041
No. Many random people have been given blue ticks. Some people happen to just wake up and have a blue tick. I doubt many celebs went through the process of identity verification.
Journalists basically get it for free regardless of their journalistic ability or follower count. They could sign up to Twitter after getting a job at CNN and get blue tick.
Blue tick as it is right now is an abused meaningless system now.
That's OK. Twitter verification was "Twitter verified this person's identity", not "this person asked Twitter to verify their identity". Twitter can and should do so proactively in scenarios like this.
> Journalists basically get it for free regardless of their journalistic ability or follower count.
Yes, they're one of the specific categories permitted to apply laid out at https://help.twitter.com/en/managing-your-account/about-twit....
A lot of these low prices are subsidized by venture capital as the companies chase market share.
For example, Spotify is ludicrously underpriced. Less than 10 bucks a month to hear basically every song ever recorded? Not sure that can last.
When it launched, it had to compete with "free" via piracy.
[0] https://soundcharts.com/blog/music-streaming-rates-payouts
[1] https://www.musicweek.com/digital/read/spotify-tells-competi...
Sure, “the bird” will be free, in a sense, when it’s profitable and doesn’t care about advertisers, but that freedom is free for Elon to do whatever he wants with it.
Not freedom for users or in any other (actually good) sense of that bloated meaningless word.
Sorry if I am being dangerous/spreading misinformation, just asking the question
The reverse is quite clear in how various Gulf states like Qatar buy lots of advertising for the state as a whole .. with the unspoken assumption that their poor human rights record won't be mentioned as much.
How are advertisers blackmailing Twitter?
They sell medicine, people don't pick what medicine they get for the most part, their doctor does. (yes there are exceptions) The number of people who would push back against a medicine because "pfizer had ads next a twitter post with racial epithets" seem vanishingly small.
I just read a book about HBO, (tinderbox by James Andrew miller). It's amazing how many things were similar in the 80's compared to today. One example, HBO was using subscriptions to finance shows just like Netflix does today. There's dozens of other examples.
The more things change the more they stay the same...
Aren't they still doing this ?
It seems like that is the only solution Tech companies have to the constant growth cycle imperative that they or the shareholders imposes on them.
Maybe the way to fix social media is to just have Twitter die by whatever Musk is doing and Facebook die from trying to become the metaverse.
I hope they pull ads from Facebook and Instagram next. In fact, Im pretty sure the world will be ok if Audi and Genera Mills ceased to exist. Imagine how many fewer kids will get diabetes if Cinnamon Toast Crunch and Lucky Charms blinked out of existence.
Facebook is different than MySpace and Friendster. So it’s not really that easy to just clone an existing service.
Malt-O-Meal FTW: https://www.maltomeal.com/
Unscientific gut feeling guess: sugary sodas need to go waaay before the cereals.
You would only need 13 servings of Cinnamon Toast Crunch to get an entire day's recommended dietary allowance of dietary fiber. That's not even a whole box. Recommended!
I imagine an "only target verified users" option being offered to advertisers with a surcharge associated with it. They're going to get paid from people being verified, and get paid more by companies wanting to advertise to verified people.
Update: Ok I could get there's a conflict of interest with automotive (and space travel I guess) but come on ...
As of yet, there's been no high-profile unbannings, or even changes to the ToS, AFAIK. Just a plan to turn the blue checkmark into something that's not an exclusive status symbol.
Yes, redundancies can be brutal for those involved, but they're not exactly uncommon when the economy isn't doing so well, or a company changes hands or is restructured. And so far, the scale of the redundancies seems to be mostly speculation?
What’s comical is the gall of General Mills, who has spent decades getting kids (myself included) addicted to sugar with manipulative advertising.
It’s genuinely amazing and saddening how many people want to see Musk fail. We are watching Atlas Shrugged play out.
That’s certainly how Musk wants everyone to think about it but isn’t the more parsimonious explanation that humans love watching a good train wreck, and he’s showing every sign of delivering one? The plot in Atlas Shrugged was a fantasy around productive people being held back by society but none of Musk’s problems are anything like that. Instead of being held back by the government, he’s made billions from it at both Tesla and SpaceX. His problems are all self-created: advertisers voluntarily choosing where they see the most benefit to their business seems like something libertarians should wholeheartedly support.
It is genuinely amazing and saddening how many people continue to make excuses for Musk’s actions and behavior. If that is what success is, yes, please, fail. No one told Elon to light a substantial amount of his wealth on fire with this effort; his character and emotional health led him here. Wealth amplifies who you already are.
He could’ve just been the cool dude who made sexy electric cars and rockets that land themselves. He might still go back to that after the Twitter experiment, but the reputation will take Herculean efforts to recover.
By no means a Musk hater by the way. Own multiple Teslas (acquired pre shenanigans), took my kid to see the first falcon heavy launch, and used to to drive to the cape all of the time to see earlier F9 launches at all hours. I respect the ambition, just not at the cost of being a decent human being, and I think that’s a fair position to hold: disappointment.
This seems to be a very common position. I know Tesla owners who are perfectly satisfied with their cars but somewhat apologetic about being associated with the CEO. You know that the CEOs of GM or Toyota must have views they also disagree with but they aren’t constantly making the news for such stupid reasons.
Give him a PR team and people would still be going on about him like in 2016.
I think that among Musk's "haters" (I include myself in that group) are a lot of people who at one time or another had faith in the things Musk was saying but then saw him fail to deliver... again, and again, and again. If the average person did this for the better part of decade there would be consequences. However, Musk has been able to skate by on a Tony Stark-like perception of himself and continues to elicit an unreasonably credulous response from his fans and the media.
So I think "wanting to see him fail" is a combination of skepticism - since he has a long track record of over promising and way under delivering - as well as perhaps a desire for Musk to reap some kind of consequences for talking out his ass for so long.
Regardless of what he claimed in those public brainstorming sessions, and what opinions he communicates, business-wise the man has accomplished more than probably any human in history. Without him internet payments would have come later, and we probably wouldn't really have electric cars, vertically landing rockets and saffordable global satellite internet. The nerve to take on any of these fields and build innovative companies on that level boggles the mind.
I mean I might be missing someone. We have many whose life's work was to build one innovative major business. Some built a conglomerates, but usually on existing technologies.
I think people are writing him off a little early with regards to Twitter. Turning it around and making it work according to his will and possibly leveraging it for something even bigger isn't too unlikely.
Paypal was based on Thiel's startup, not Musk's. In fact, after Paypal merged with Musk's X.com, X.com shut down all of its pre-merger activities and focused exclusively on scaling Thiel's Paypal. Musk forced his original CEO out and took over the merged company, but was fired by the board months later for gross incompetence, and is a member of the Paypal Mafia solely because of the golden parachute his lawyers negotiated for him. (Note that Thiel and the other members of the Mafia absolutely hate Musk; go through media interviews of these guys and you'll notice how much they avoid talking about him.)
Electric cars were a thing before Musk; hell they actually pre-date ICE vehicles. The issue was that batteries were very expensive; Tesla simply happened to come along when batteries started getting cheap enough to put into cars and artificially low interest rates made it feasible to invest billions in high-risk startups.
Vertical landing rockets were invented by NASA in the 1970s, but they never had the budget to develop those into viable alternatives to the Space Shuttle program, because politicians had a vested interest in the Space Shuttle program and not in reusable rockets. The development of SpaceX's reusable rockets was entirely funded by NASA and the DoD.
Affordable global satellite internet already exists. Iridium is actually cheaper than Starlink, and is close to profitability. Starlink currently runs at a massive deficit and by SpaceX's own admission will not be profitable if Starlink does not receive government internet access funding.
Musk's life's work was not to innovate anything. It was to find innovative things being done by other people and to take all the credit for himself.
Norms that matter: Don't call rescue workers pedophiles for no reason. Don't impregnate your employee. Don't put software designated generously as beta in control of vehicles on public roads. Don't boisterously sign legal agreements, harass your business associates and thousands of innocent employees, and then strain the legal system in an attempt to undo your whoopsie. Don't lay people off in such a way designed to circumvent severance requirements. The list goes on and on.
There's not a lot of effective enforcement against these things but it's important that they don't become the norm. So insofar as I'm "cheering for him to fail," it's because I'd prefer that we don't have an entire generation of business leaders thinking this behavior is admirable. The marginal improvements he can make to Twitter nowhere near outbalance the harms he can inflict on our society's norms. Also, frankly, I'd prefer he focused on cars and rockets because we need his attention (and more) on those big problems and he's made great progress so far. The Twitter sidequest is an addiction gone awry.
Spite is surly not the reason this billion-dollar brands are pulling advertising from the company whose owner is using it to spread conspiracy theories about political violence. These companies have no compass beyond shareholder value. They just see the writing on the wall now that Musk has ownership of Twitter.
People want to see bad behavior have bad consequences. Anything else would be amazing. And while this is by no means the lowest Musk has gone, it's definitely one of the times he has had most influence over a lot of people.
Musk has in just recent time been peddling some conspiracy theories, made some astonishing remarks re: the status of Crimea in Ukraine and so on. It's more than enough already to make me never want to see him succeed in controlling anything related to media (social or not).
> Auto companies cutting spending is just spite from competition which is understandable.
That could be part of it. But unless there is a clear sign that auto companies do this to a larger extent than other megacorps I'd put it down to just being defensive. Twitter under Musk has controversy and turmoil written all over it, And if I were a large company I'd want no part in it. It's so easy to shift ad money to other places.
I'm guessing advertisers will return once the storm settles. At that point, I also fully expect Musk to have gone full circle, realizing the only way to run Twitter was the old way. Whether it will survive that round trip is the question.
Musk and his various companies have openly sharted on laws, regulations and legal orders and agreements many, many times (e.g. his SEC squabbles which should have led to someone checking over his tweets prior to sending them out, COVID-19 rule ignorance, workplace safety regulations, ...), and he's been a general arsehole way too often as well (the "pedo diver" incident, one of his own kids distancing themselves which led to Musk twittering anti-trans shit, ...).
Of course people want to see that even the richest asshole on the planet is not fully immune from consequences for his actions.
When you watch a clown, you expect him to slip on a banana peel. Musk puts himself out there as an utterly unserious buffoon. This is what he wants.
Nature made everyone addicted to sugar. Of course not everyone is as prone to this as others, but sugar is energy and organisms (we included) need energy.
Manipulative advertising is also a bit redundant. Advertisement is meant to be manipulative, which is maybe more obvious by a pejorative/synonym for advertisement: propaganda.
Atlas Shrugged my ass. There has never been a more effective government suckler than Elon Musk. Every business he's running exists entirely due to the largesse of the federal government. Except Twitter of course, and so far it's looking quite possible that he may end up incinerating his $44 billion dollar impulse purchase.
So we'll see if this is real or just convenient PR spin.
If we are in or do enter a downturn, I wouldn't be surprised if these ads become unprofitable. They'll quickly get turned down.
I'm not Elon Musk fan, but he is pissing off a lot of people and institutions I don't care for.
There's just too much risk in investing into a platform that will allow anyone to post unmoderated content that corporations just want out of Twitter altogether.
It's only now political because Elon owns it?
People who ask for that are beyond the idea of democracy
Then using your logic, Musk (and by extension Tesla, SpaceX) are also getting involved in politics? Why are you upset on the one hand (cereal) and not the other (Musk)?
This is how facists work- they frame anyone’s dissenting speech and actions as politically opposed.
Have you been in cryogenic deep sleep the last decade? This is every single Big Corp now. No matter how you stand on these issues, but if subsidising abortion, flying the rainbow flag, enforcing affirmative action and supporting immigration isn't political, then what is?
As if he was some arch-villain in disguise plotting to destroy them personally.
Whereas in reality he isn't as terrible nor as perfect as what all the millions of critics and boosters suggest.
I'm explicitly writing this out because I believe HN should always be a place of engaging in substantive discussion, and not mindless agitation regarding any topic.
It's not some immoral thing to dislike a person for their personality.
LIZ: Just say Jewish, this is taking forever.
- 30 Rock
Control over global public discourse is the most effective mind control tool in the world. Even moreso when your control is hidden and you maintain plausible deniability. The current ownership won't give this up without a fight.