Elon Musk tells Twitter advertisers he wants to stop fake accounts, pursue truth
– Elon Musk, the new owner of Twitter, addressed the advertising community on Wednesday, promising to make the social media platform a force for truth and to put an end to bogus accounts in an attempt to reassure businesses and ad agencies that have been pulling their ads from Twitter in recent months.
Over 100,000 people tuned in to watch Musk talk on Twitter’s Spaces feature just days after the company shocked users and advertisers by laying off half of its workers. Similarly, Twitter’s director of safety and integrity, Yoel Roth, has promised users that the platform would continue to enforce its standards against abusive material.
Musk, the wealthiest man on earth, talked coolly about his plans for Twitter, proposing a $8 premium membership fee as a solution to the problem of automated accounts and speculating on the prospect of introducing money market accounts in the future.
Concerned that Musk may relax content moderation guidelines, major advertisers including General Motors, General Mills, and Mondelez International Inc (MDLZ.O) have withdrew their advertisements from Twitter in the week since he took charge. Many Fortune 500 companies were paying attention to Musk’s remarks on Wednesday, including Wendy’s Co(WEN.O), Chick-fil-A, General Motors Co (GM.N), and Ford Motor Co (F.N).
Musk said that the “huge loss in income” was due to the increased pressure from civil rights organisations on advertisers to pull their content from Twitter after he fired half of the company’s employees.
Musk added, “I understand if folks want to give it a minute.” He was addressing the businesses that had temporarily suspended their advertising. The easiest way to observe how things are changing, he suggested, is to utilise Twitter.
He predicted that in the future, people will give greater weight to tweets from verified users who had paid for the Twitter Blue service and been given a blue checkmark, and ignore tweets from less reputable accounts. He also said that the existence of the premium service would deter spammers since they would not want to fork out the money to use it.
Musk said, “There’s a fundamental distinction between freedom of expression and freedom of reach,” adding that Twitter will work to reduce the spread of nasty information.
Musk also addressed a question about his own tweets that have angered advertisers, including one that he has since deleted and which linked to a conspiracy theory about the attack on U.S. House Speaker Nancy Pelosi’s husband, and another in which he urged voters to choose Republican candidates in the U.S. midterm elections.
“Twitter, as a platform, ought to be as non-biased as possible. That doesn’t mean I’m apathetic or anything, but “His words.
Roth tweeted on Wednesday that, since Musk bought the company, Twitter has cut the number of times users see hazardous material in search results by 95%.
As for Twitter, “my impression over the previous weeks is that the material is really improving, not becoming worse,” Musk added. He assured business clients that Twitter would swiftly ban “trickery” or “deceptive” accounts.
He also said that Twitter will be developing at a quicker rate, which would make it possible for users to make and receive payments with one another, create money market accounts, and even use debit cards.
As a result of Musk’s rapid adjustments to the Twitter app, some users may now be confused. On the same day that Twitter’s new “official” label went live, Musk tweeted that he had “killed” it.
Later, a Twitter executive stated that the service wouldn’t be implementing the badge for regular users, but would do so for businesses and government agencies.
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