Not to put too fine a point on it, but this is the sort of damage control id expect to see from someone only peripherally aware of or involved in their businesses accountability or strategic operations. This concern from advertisers has existed far too long for an executive action to have any meaning. the marketing conference call on november 3rd was your red flag where advertisers voiced their displeasure with firing large swaths of the content moderation team. The checkmark fiasco that wiped billions off corporate ledgers on a friday of active trading left a pretty sore spot with them as well that you never seemed to completely address. To corporations looking at this release today youre just some guy dragging a plumbing fixture through the lobby of your new office demanding hardcore work and cutting staff and --lets be honest-- at least Chainsaw Al Dunlap made stockholders rich in the process of scorching earth. So far youve just made the entire platform look like the bombing of dresden.
by the 14th most reasonable advertisers had paused their spend if not backed out entirely.
but after the bombshell office lockout and mass exodus today? to think a ToS change with a skeleton crew of H1B's and lifers that arent even allowed at their desks is going to reverse the course of decline is farcical. This is the kind of massive failure that triggers disaster recovery plans. This ship is sinking, and whatever life thats valued on it will either jump ship to a competing platform or Mastodon. You took a 44bn USD risk and managed to absolutely destroy any credibility in your leadership in under a month. At this point its best to hope markets dont start reconsidering your other companies as risky business.
by the 14th most reasonable advertisers had paused their spend if not backed out entirely.
but after the bombshell office lockout and mass exodus today? to think a ToS change with a skeleton crew of H1B's and lifers that arent even allowed at their desks is going to reverse the course of decline is farcical. This is the kind of massive failure that triggers disaster recovery plans. This ship is sinking, and whatever life thats valued on it will either jump ship to a competing platform or Mastodon. You took a 44bn USD risk and managed to absolutely destroy any credibility in your leadership in under a month. At this point its best to hope markets dont start reconsidering your other companies as risky business.