Staff Reports
Elon Musk will be meeting with some of Twitter's biggest advertisers on Wednesday in an attempt to reassure them following a recent spike in activity.
This comes just days after the tech entrepreneur threatened to launch a "thermonuclear name and shame" campaign against advertisers who leave after he purchased the company.
During the meeting, which will be held through Twitter's live audio-only feature, Musk will be talking to a select number of advertisers. One of the companies participating is the advertising firm known as Havas.
Although the exact details of the meeting are unknown, Musk noted that the company's revenue had been dropping due to the suspension of some of its advertisers' campaigns.
Since he purchased Twitter, Musk has been trying to find new ways to make money for the company. He also has to pay off the debt he incurred when he purchased it. The vast majority of Twitter's revenue comes from advertising. Unfortunately, the digital ad industry is already in a tough situation due to declining budgets and rising inflation.
As a result, many advertisers are already aware of the problematic content that they can potentially see on Twitter. Despite Musk's insistence on maintaining the company's standards on content moderation, many advertisers are still skeptical that Twitter can prevent the spread of hate speech and sexual violence.
In response, Derrick Johnson, the NAACP's president, called on businesses to suspend their advertising on Twitter until the company takes the necessary steps to make the platform a safe space.
Several companies, including Volkswagen, Ford, and General Motors, have already removed their advertisements from Twitter. Other major companies such as Mondelez, which owns brands such as Ritz crackers and Oreo cookies, have also urged their clients to suspend their purchases of Twitter ads.
In response, Musk threatened to launch a thermonuclear name and shame campaign against the advertisers who leave Twitter. He said that this would result in his online fans going after executives and businesses that leave the platform.
Since he took over Twitter, Musk has laid off about half of the company's workforce. The company's remaining employees had to deal with complex infrastructure issues, which prompted it to hire some of the individuals who were let go.
In order to make money from its platform, Musk has been planning on selling a blue badge that would allow users to verify their identities. However, this method would not work without actually verifying the users' identities.
In addition to shutting down accounts, Musk has also been criticized by politicians for his actions. For instance, he shared a meme that featured a Nazi soldier and criticized the husband of House Speaker Nancy Pelosi.
Lou Paskalis, the president of MMA Global, said that many of the companies that advertise on Twitter are being forced by their own principles to consider the platform's safety and suitability before they can place their ads. During an exchange with Musk, the latter blocked Paskalis.
The preceding is a summary of an article that originally appeared on The Daily Cable.
