Elon Musk has picked a fight with a heavyweight opponent.
He poked the establishment in the eye when he bought Twitter and took the company private.
Now Musk was hit by the Left with one huge financial attack.
Upon speculation that tech billionaire Elon Musk would purchase Twitter, he was mercilessly attacked by Democrats and their media allies.
The so-called mainstream media published one hit piece after another going after Musk.
Some in the press compared his acquisition of Twitter to the fall of Weimar Germany before the Nazis rose to power.
That’s how much the establishment didn’t want Musk in control of Twitter.
In light of the Twitter Files dispatches—internal documents exposing collusion between Big Tech and the government—it’s easy to see why the powers that be wanted Twitter to remain in the hands of people who were fully on board the establishment agenda.
Once Musk went through with the purchase of Twitter, he began getting attacked in a different way: the establishment tried to go after his wallet.
Ad revenue losses have stung
Several celebrities announced they were leaving the platform.
But the real problem appears to be that the major corporations which said they were suspending advertising on the platform followed through on.
And the loss of advertising revenue has been a sting for the company.
Because Musk took Twitter public, he cannot rely on a bloated stock price to keep the company afloat.
He needs to monetize the platform through subscription models and advertising dollars.
Even though the platform has stayed relatively the same, left-wing organizations have dissuaded companies from advertising on Twitter.
According to Standard Media Index (SMI) data in December 2022, Twitter lost 71% in advertising dollars from the previous year.
In 2021, Twitter relied on advertising for 89% of its $5.08 billion in revenue.
The fear-mongering from the Left is that Musk is allowing “hate speech” and “disinformation” to flourish on the site, thus advertisers should pull their money.
This has been the battle cry of the Left the past few years; free speech must be curtailed in order to filter out “harmful” speech, and legacy gatekeepers are the ones who must do the filtering.
But over the past few years, establishment institutions have lit their credibility on fire, which was confirmed in the Twitter Files.
For example, true information about COVID was censored at the behest of the federal government.
Journalists were using Big Tech to spread disinformation about Russian bots and other made-up nonsense.
Musk cut a lot of the payroll bloat at the company, but Twitter still needs to find a sustainable business model in order to stay afloat long term.
Stay tuned to Unmuzzled News for any updates to this ongoing story.
