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X Races to Contain Damage After Elon Musk Endorses Antisemitic Post (www.nytimes.com)

submitted 2 years ago by silence7@slrpnk.net to c/technology@lemmy.world

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IBM, a major advertiser on X, has pulled its spending from the social media platform, whose employees are grappling with what to tell its other advertisers, according to internal messages.

To be clear: Musk endorsed a tweet which used a false antisemitic conspiracy theory to tell people why "Hitler was right"

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[–] chiliedogg@lemmy.world 8 points 2 years ago

He didn't. He bought shares, then announced he'd buy it at a wildly inflated price to drive the stock price up so he could sell high. It was a pump and dump scheme and he never intended to actually buy Twitter. 3 days after Twitter agreed to be bought, he had already sold over 6 billion in Twitter stock.

The difference here was the Twitter board wasn't finna take that bullshit. They sued him and he was going to be forced to honor his disingenuous buyout offer, so he went through with it and has been hemorrhaging money.