Elon Musk Says Twitter’s Had A Massive Revenue Drop Despite Its Attempts “To Appease The Activists”

deadline.com:

As Twitter employees face mass layoffs starting today, new overlord Elon Musk says the platform has seen “a massive drop in revenue, due to activist groups pressuring advertisers.” General Mills, Audi and others confirmed in recent days that they’ve paused advertising on Twitter after Musk’s ascension.

The deal close last week saw an upsurge in derogatory content and sowed doubt about future moderation policies under new ownership.

Musk has said that he’d take a more hands off approach to moderation and that he doesn’t believe in permanent bans, including of former President Donald Trump.

Musk, who named himself as sole director after dissolving the board and booting top executives, announced plans to set up a committee to evaluate moderation policies and promised no new steps or changes until that body takes stock.