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From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023

The tide turned against inflation.Artificial intelligence went mainstream — for good or ill. Labor unions capitalized on their growing might to win more generous pay and benefits. Elon Musk renamed and rebranded the social media platform Twitter, removed guardrails against phony or obscene posts and ranted profanely when advertisers fled in droves.The American housing market, straining under the weight of heavy mortgage rates, took a wallop.And Taylor Swift's concert tour scaled such stratospheric heights that she…

‘I scream!’ Strange X outage kills outgoing links in yet another blow for billionaire Elon Musk

X (formerly Twitter) is going through a rough period. Earlier, the platform witnessed an exodus of advertisers after the owner Elon Musk was involved in an antisemitic controversy with another user. Later, at a conference, Musk said during an interview that advertisers leaving would result in the social media site shutting down and he even used abusive language. Now, a new issue suddenly appeared on the platform in the early hours of December 14. An X outage was spotted by many users who found that no outgoing links were…

elon musk advertisers: After Elon Musk tirade, X faces prospect of more advertisers fleeing

Social media company X (formerly Twitter) faces the prospect of more advertisers fleeing and has no clear fix in sight, ad industry experts said, after billionaire owner Elon Musk lashed out at some of the biggest brands for dropping the platform.Walt Disney and Warner Bros. Discovery suspended advertising on X earlier this month following Musk's endorsement of an antisemitic post that falsely claimed members of the Jewish community were stoking hatred against white people.Elevate Your Tech Prowess with High-Value Skill…

Bankruptcy looms: With outburst, Elon Musk puts the survival of X in the balance

Elon Musk's verbal assault on advertisers who have shunned X (formerly Twitter) threatens to sink the social network further, with the tycoon warning of the platform's demise, just one year after taking control."If somebody's gonna try to blackmail me with advertising, go fuck yourself," a visibly furious Musk told an interviewer in New York in front of an audience of the US business elite this week. Musk was lashing out at the advertisers who had abandoned his platform after Media Matters, a left-wing media watchdog…

Elon Musk criticizes advertisers amidst anti-semitic post row, says ‘go f**k yourself’

Elon Musk, who has had  a strained relationship with advertisers since he took over X (formerly Twitter) last year, has now told the advertising companies to ‘go f**k themselves’. In an interaction with New York Times, Musk said,"If somebody is going to try to blackmail me with advertising, blackmail me with money, Go f**k yourself. Is that clear, I hope it is……

Not dead! X surpassed Instagram, Facebook in driving traffic via Google? Elon Musk reacts

The exodus of major advertisers from X (formerly Twitter), after it was revealed that ads were shown alongside antisemitic posts and other problematic content, resulted in a number of critics claiming that the platform may actually succumb due to a revenue crunch. Despite multiple posts suggesting otherwise by the owner and chief technical officer (CTO) Elon Musk, many have continued to make similar assertions even claiming that the continued political polarization may lead to users leaving in large numbers. Recently, a…

Elon Musk-owned X can lose up to $75 mn by the end of 2023 due to advertisers fleeing, says report

The advertising woes for X (formerly Twitter) are growing by the day. Recently, the platform witnessed major companies pulling out of showing ads including Apple, IBM, and Comcast. Now, a new report claims that the Elon Musk-owned social media platform can lose as much as 75 million dollars by the end of 2023 due to the exodus of companies. It all started after some reports emerged claiming that Musk backed an antisemitic post on the platform last week. On X, Musk could be seen agreeing to a poster that said Jewish…

Elon Musk does huge U-turn; says will bring back news headlines from link previews on X

Elon Musk has announced that news articles shared on X (formerly Twitter) will once again feature headlines, instead of just the image in the URL card. This move has reversed his controversial decision from October 2023, when he removed headlines from news articles shared on the platform to reduce the height of the preview window and improve the aesthetics. At the time, many users complained that it would be difficult to contextualize the content of a URL with just the header image.Musk made the announcement yesterday in…

Musk’s X sues liberal advocacy group Media Matters over its report on ads next to hate groups’ posts

Elon Musk's social media company X filed a lawsuit against liberal advocacy group Media Matters for America on Monday, saying it manufactured a report to show advertisers' posts alongside neo-Nazi and white nationalist posts in order to “drive advertisers from the platform and destroy X Corp.” Media Matters, a Washington, D.C.-based non-profit, called the lawsuit “frivolous.” Advertisers have been fleeing the site formerly known as Twitter over concerns about their ads showing up next to pro-Nazi content — and hate…