X owner Elon Musk said his infamous “Go f–k yourself” comment last yr was not geared toward all advertisers as his social media company tries to woo back corporations which have left the positioning.
“To begin with, it wasn’t to advertisers as an entire. It was with respect to freedom of speech,” Musk told a gathering of promoting professionals on the Cannes Lions conference in France on Wednesday.
The mogul added it was “vital to have a worldwide free speech platform where individuals with a wide selection of opinions can voice their views,” in line with Axios, which first reported comments.
X owner Elon Musk sought to make clear comments he made last yr by which he told advertisers to “go f–k yourself.” / SplashNews.com
Musk said he lashed out at a conference in Latest York last fall because there have been “some cases [where] there have been advertisers who were insisting on censorship.”
“We’re going to support free speech somewhat than comply with be censored for money,” he said.
While Musk acknowledged that “after all, advertisers have a right to seem next to content that they find compatible with their brands,” he admonished corporations for “insisting that there may be no content they disagree with on the platform.”
In November, Musk made headlines when he appeared on the DealBook Summit in Latest York during which he was asked about advertisers who fled X in response to his revamped content moderation policies that were implemented after he acquired the corporate then often called Twitter two years ago.
“Go f–k yourself,” Musk railed as Disney CEO Bob Iger sat within the audience.
Disney was one among several blue-chip corporations that halted promoting on X in response to reports that the positioning was failing to adequately crack down on a proliferation of hate speech, including antisemitic content.
The exodus of advertisers has had an antagonistic impact on the corporate’s balance sheet.
Musk made an appearance on Wednesday at Cannes Lions. He’s seen left being interviewed by WPP CEO Mark Read. / SplashNews.com
Internal leaks revealed that X’s revenue has nosedived since Musk took control of the corporate.
In the primary six months of 2023, X’s revenue stood at $1.48 billion — which is around 40% less in comparison with the identical period last yr.
X also lost $456 million in the primary quarter of last yr, in line with documents obtained by Bloomberg News.
The news site reported in December that X was on pace to generate $3.4 billion in revenue for 2023.
X has lost money since Musk took over the corporate formerly often called Twitter in late 2022. AFP via Getty Images
By comparison, the corporate generated $4.4 billion in revenue in 2022.
Musk acquired the firm then often called Twitter in October of that yr.
Musk, who owns around 75% of X’s parent company, X Holdings Corp, desires to turn X into an “every little thing” app that can incorporate peer-to-peer payments – just like Venmo.
In response to Bloomberg, X has filed paperwork in all 50 states searching for licenses to turn into a money transmitter.
To date, 28 states have approved the permits, in line with Bloomberg.
The Post has sought comment from X.
