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X, Owned by Elon Musk, Brings Antitrust Suit Accusing Advertisers of a Boycott (www.nytimes.com)

submitted 3 months ago* (last edited 3 months ago) by MicroWave@lemmy.world to c/news@lemmy.world

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The company claimed that members of the Global Alliance for Responsible Media coordinated to dissuade brands from advertising on X.

X filed a lawsuit on Tuesday against the Global Alliance for Responsible Media, a coalition of major advertisers, claiming that it had violated antitrust laws by coordinating with brands to dissuade them from spending money on the social media platform.

The suit, filed in federal court in Texas, claims that the coalition, known as GARM, “conspired” with leading brands, including CVS, Unilever, Mars and the Danish energy company Orsted, to “collectively withhold billions of dollars in advertising revenue” that were owed to X, then known as Twitter, in the wake of Elon Musk’s takeover of the social media company in 2022.

…

With the lawsuit, X effectively declared war on advertisers, which provide the bulk of the social media company’s revenue. Since Mr. Musk acquired the company and promised to usher in a new era of unfettered free speech, many advertisers have limited their spending on X, concerned by reports of rising hate speech and misinformation there. By pursuing legal action against GARM, Mr. Musk continued to break with the leaders of other social media companies, who have forged close relationships with advertisers and been responsive to their concerns about offensive online content.

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[–] Buddahriffic@lemmy.world 5 points 3 months ago (1 children)

I wonder if he fired them because they weren't able to recover his image after that pedophile tweet on 2018. That's when I realized that giving him the benefit of the doubt might be a mistake. A public temper tantrum like that didn't just show that he wasn't any better than other billionaires, it showed he was likely worse because most of them don't let tirades like that show from behind closed doors, if they need them at all.

[–] DandomRude@lemmy.world 5 points 3 months ago

I think he fired his PR team because the image they had built up for him had gone to his head. Then there was the financial success that came with it. He probably believed that he really is a genius who is not dependent on anyone but himself - he is obviously still convinced of this abstruse idea. Yet it has always been the case that Musk was the biggest problem for his companies. It really is a PR masterstroke to hide the fact that he is actually rather incompetent for so long. This man lives exclusively from the achievements of others. This is proven by the fact that he reached a settlement with the actual founders of Tesla to allow him to call himself a Tesla co-founder - which he is not. In my eyes, Musk is the personification of the most fundamental problem that our society has: He merely takes credit for the hard work and remarkable expertise of his employees in order to present all of this to the public as the achievement of a supposedly exceptional person. This is how people like Musk and Trump, for example, see themselves. However, their miserable decisions show that they are nothing of the sort. Hubris is the term psychology uses for such inaccurate overestimation of oneself.