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X is left with advertisers pushing dubious cryptocurrency and AI 'undressing' apps, users say after Musk's outburst (www.businessinsider.com)

submitted 10 months ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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X users are complaining about an influx of low-quality ads promoting crypto scams and AI "undressing" apps.
The decline in reputable advertisers on X has made the platform more reliant on less reputable ad buyers.
The exodus of advertisers, partially due to Elon Musk's controversial behavior, has left X with a growing revenue gap.

Archive link: https://archive.ph/sbOxS

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[–] Mikina@programming.dev 1 points 10 months ago (2 children)

I though Twitter is publicly traded and has stocks? That would mean that he definitely has a duty towards investors who bought the shares to lead the company in a responsible way, and if he claimed that he destroyed it on purpose, it should lead to a lawsuit from them. But I ain't no lawyer, only vaguely remember hearing something like that. Or does he own 100% of the shares himself and is the sole investor?

[–] efstajas@lemmy.world 6 points 10 months ago* (last edited 10 months ago) (1 children)

It used to be publicly traded, but it went private when he acquired it.

Which doesn't mean he doesn't answer to any investors anymore, of course. He got quite a lot of assistance with that acquisition.

[–] Mikina@programming.dev 1 points 10 months ago

Oh, I see. I guess that means there's basically no-one who can sue him, if there aren't any investors.

As long as he can repay any loans and stuff, then I suppose he can do whatever he wants with the company. If, however, he bancrupts it to the point of not being able to pay back anything the company owes, then he should be in trouble. I hope.

[–] dabaldeagul@feddit.nl 1 points 10 months ago

Fafaik he bought 100% of the shares.