Is Meta’s Threads a Twitter Killer?
Truth DigJul 03, 2023
The Facts
Twitter owner Elon Musk revealed that the company has seen a nearly 50% decrease in advertising revenue since Musk bought the platform for $44B last October. He said in a tweet: "We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else."
The Tesla CEO made sweeping changes to Twitter after buying the platform, firing half of the company's 7.5K employees in cost-cutting measures and cutting cloud service bills, as he looks to pay off $13B in debt by the end of the month.
The Spin
Left narrative
Since buying the platform, Elon Musk has made a mockery of Twitter, driving away advertisers for many reasons. First, companies don’t want to be associated with a company that is at best indifferent to, and at worst complicit in, the promotion of hate speech that targets marginalized groups. In addition to the moral qualms with Musk’s free-for-all vision of Twitter, advertisers are rightly worried.
Right narrative
The powerful woke cartel is striking back against Elon Musk, who dares to bring some semblance of free speech back into American life. The path to restoring free speech was never going to be easy, and Musk may have to play a little ball with the establishment, but the fight for this right remains as important as ever. Musk's efforts have been honorable.
