Advertising is an old boy's club. They spend money based on personal relationships, brand image, reputation, reliability, and trust.
The actual quality of the advertising product almost doesn't matter, it's not like any of the advertisers can reasonably independently validate the claims or performance, they're trusting them as given.
Elon has never been a member of the advertising club, he famously chooses to have his company refuse to even be a client, and he doesn't have a reputation for any of those values. Wouldn't at all be surprised if major clients put a hold on their Q4 spend with Twitter the moment they got news of the completed acquisition.
Google, Facebook, and Snap all had major advertising earning misses, the agencies would be pressuring for better deals regardless.
The actual quality of the advertising product almost doesn't matter, it's not like any of the advertisers can reasonably independently validate the claims or performance, they're trusting them as given.
Elon has never been a member of the advertising club, he famously chooses to have his company refuse to even be a client, and he doesn't have a reputation for any of those values. Wouldn't at all be surprised if major clients put a hold on their Q4 spend with Twitter the moment they got news of the completed acquisition.
Google, Facebook, and Snap all had major advertising earning misses, the agencies would be pressuring for better deals regardless.