According to Business Insider sources, X is on life support and one theory suggests that Musk’s erratic behavior may be a deliberate attempt to destroy it.
Musk has been even more confrontational than usual in recent days as he fights back against advertisers who have threatened to boycott the social platform after he was accused of promoting antisemitism.
Several major advertisers, including Apple, Disney, IBM, and others, have paused or suspended their advertising on X after a report by Media Matters for America revealed that their ads were appearing next to pro-Nazi content on the platform.
Musk has denied the allegations and has threatened to sue Media Matters for America for misrepresenting the user experience on X and undermining freedom of speech.
He has also announced new measures to combat calls for violence against Israel on X, such as suspending users who use phrases like “from the river to the sea”, which are considered to be anti-Israel by the Anti-Defamation League (ADL). Indeed, to mitigate such accusations this past week the media mogul visited Israel and met with Benjamin Netanyahu in what can only be called a photo-op meant to visually refute the damaging accusations.
Musk’s response to the threatened boycott was not subtle: “Go fuck yourself,” he said, appearing to be addressing Disney CEO Bob Iger. He apologized for the post Wednesday, but blamed fleeing advertisers for trying to “blackmail me with money” and attempting to “kill the company.”
However, one theory being proposed by Business Insider’s Jyoti Mann and Lara O’Reilly suggests that this is all part of Musk’s grand plan to deliberately destroy X.
The billionaire had last year tried to back out of his $44 billion offer to buy what was then Twitter but financed the deal by borrowing $13 billion from a consortium of banks. Those banks have since been trying to sell the debt — which looks increasingly worthless as Musk drives X into the ground. In the meantime, X and Musk must pay millions of dollars in interest to their financiers.
Musk may be looking to reduce those payments by ensuring X isn’t worth very much, Bloomberg commentator Matt Levine posited in January.
Whether true or not, the rumors are having a devastating effect on X. Some junior and senior-level sales staffers are reportedly taking the money and running. Many have left the company over the past month after receiving their bonuses, BI’s Grace Kay writes.
Linda Yaccarino may be hurting the most as she was a giant in the advertising industry before coming to X but now “she’s been reduced to putting out fires set by Musk” and her reputation could be at stake, as she’s reportedly getting texts from ad exes advising her to get out while she can.
If she does, she will be on a long line pushing towards the exit.
