Elon Musk

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 <p class="is-style-lead">X owner Elon Musk received a show of support from <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> professionals, despite a storm of criticism and <a rel="noopener noreferrer nofollow" title="advertiser" href="https://thebittimes.com/tag/advertiser.html">advertiser</a> departures from his social platform after the world’s richest person made what critics perceived as an anti-Semitic comment.&nbsp;</p>
 <p>In a Nov. 18 post, Tamara Haasen, who presides over InputOutput, the engineering and research company behind Cardano (ADA), described Musk as an “effective” leader, a “great operator” and someone clear on what battles to fight.</p>
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    <p lang="en" dir="ltr">I love how effective Elon is as a leader. He’s a great operator, no bullshit, is clear on what battles are worth fighting. https://t.co/awckb526xM</p>— tamara haasen (@TamaraHaasen) November 18, 2023
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 <p>Haseen’s post was in response to an earlier post by Musk stating X will be filing a “thermonuclear lawsuit” against Media Matters, a liberal advocacy group.</p>
 <p>Media Matters recently claimed X, formerly known as Twitter, was taking insufficient action against misinformation, particularly concerning the Israel-Hamas war.</p>
 <p>The group also published a report showing that X ads are shown alongside white supremacist content. The group also clapped back at Musk’s lawsuit on Saturday, predicting that if the Tesla CEO goes forward with a lawsuit, he will lose:</p>
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    <p lang="en" dir="ltr">.@GoAngelo statement pic.twitter.com/MBlkkzgO6H</p>— Media Matters (@mmfa) November 18, 2023
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 <p>Compounding these issues, Musk’s recent comments on X, viewed as anti-Semitic, have further fueled an <a rel="noopener noreferrer nofollow" title="advertiser" href="https://thebittimes.com/tag/advertiser.html">advertiser</a> <a rel="noopener noreferrer nofollow" title="exodus" href="https://thebittimes.com/tag/exodus.html">exodus</a>.</p>
 <p>Apple, Lionsgate, Disney, and IBM have all suspended their advertising campaigns on X. The European Commission too has announced cessation of advertising on X, citing the spread of disinformation.</p>
 <p>A federal judge also turned down a bid by X to overturn a $150 million Federal Trade Commission (FTC) fine, a penalty from previous management missteps. An industry watchdog even urged the FTC to scrutinize X’s new ad formats, suggesting they lack proper disclosure clarity.</p>
 <p>Musk has remained defiant, insisting he will voice his thoughts on the app, irrespective of potential financial loss.&nbsp;</p>
 <p>The Tesla CEO is a known <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> supporter, whose public endorsements of Dogecoin (DOGE) have gotten him into trouble with investors on occasion. X is also home to a thriving <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community, and Haasen’s post, cosigned with a repost from Cardano co-founder Charles Hoskinson, underscores how some quarters of the community are coming to Musk’s defense.</p>
 <p>With X’s ad revenue reportedly down by 50% compared to last year, the loss of significant brand partners could impact the app’s viability.</p>
 <p>Even after significant cost-cutting measures like reducing staff and selling off resources, X teeters on the edge of profitability. In a recent interview, X CEO Linda Yaccarino hinted that the platform might be close to turning a profit by early 2024, but that was when most of their top <a rel="noopener noreferrer nofollow" title="advertiser" href="https://thebittimes.com/tag/advertiser.html">advertiser</a>s had returned. Now, they are leaving once again.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/elon-musk-praised-by-crypto-pros-following-advertiser-exodus-from-x-tbt70805.html">https://thebittimes.com/elon-musk-praised-by-crypto-pros-following-advertiser-exodus-from-x-tbt70805.html</a></p>

Elon Musk praised by crypto pros following advertiser exodus from X

TheBitTimes

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