{"id":85569,"date":"2023-11-17T02:51:04","date_gmt":"2023-11-17T07:51:04","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ibm-pulls-ads-from-x-after-elon-musks-comments-appear-to-endorse-antisemitic-conspiracy-theory\/"},"modified":"2023-11-17T02:51:05","modified_gmt":"2023-11-17T07:51:05","slug":"ibm-pulls-ads-from-x-after-elon-musks-comments-appear-to-endorse-antisemitic-conspiracy-theory","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85569","title":{"rendered":"IBM pulls ads from X after Elon Musk\u2019s comments appear to endorse antisemitic conspiracy theory"},"content":{"rendered":"
\n

IBM Corp.
\n IBM,
\n +0.31%<\/bg-quote>
\n has abruptly pulled ads from X, formerly Twitter, amid a maelstrom of controversial comments from billionaire owner Elon Musk and the placement of IBM ads.<\/p>\n

\u201cIBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation,\u201d the company said in a statement emailed to MarketWatch.<\/p>\n

\n

IBM suspended advertising following a report by the Financial Times on Thursday that IBM ads appeared next to posts supporting Adolf Hitler and the Nazi Party. A Media Matters study also found ads from Apple Inc.
\n AAPL,
\n +0.90%<\/bg-quote>,<\/span>
\n Oracle Corp.
\n ORCL,
\n +0.53%<\/bg-quote>,<\/span>
\n and Comcast Corp.\u2019s
\n CMCSA,
\n -0.28%<\/bg-quote>
\n Xfinity and Bravo were adjacent to pro-Nazi content.<\/p>\n

On Wednesday, Musk agreed with a post on X supportive of an antisemitic conspiracy theory that Jewish people hold a \u201cdialectical hatred\u201d of white people. \u201cYou have said the actual truth,\u201d Musk wrote in response to the post.<\/p>\n

Compounding matters, Musk on Thursday said on X it was \u201csuper messed up\u201d that white people are not, in the words of one far-right user\u2019s tweet, \u201callowed to be proud of their race.\u201d<\/p>\n

Adding fuel to the fire, Musk said on Wednesday that the Jewish advocacy group the Anti-Defamation League \u201cunjustly attacks the majority of the West, despite the majority of the West supporting the Jewish people and Israel.\u201d (Musk has threatened to sue the ADL because of its criticism of lax moderation practices on X that it says have allowed antisemitism to spread.)<\/p>\n

The cascading conflagration prompted Tesla Inc.
\n TSLA,
\n -3.81%<\/bg-quote>
\n bull and investment adviser Ross Gerber to grumble on X: \u201cGetting a flood of messages from clients wanting out of tesla and anything to do with Elon Musk. Many saying they are selling their cars as well. What is he doing to the tesla brand??!!?!?\u201d<\/p>\n

Earlier this year, Gerber backed down from his \u201cfriendly activist\u201d efforts to join Tesla\u2019s board, saying he felt his concerns had been addressed. His firm, Gerber Kawasaki Wealth and Investment Management, has its own ETF, AdvisorShares Gerber Kawasaki\u00a0
\n GK,<\/span>
\n \u00a0which has Tesla as its top investment, and has attracted many clients with Tesla shares in its portfolios<\/p>\n

In an interview on CNBC late Thursday, Gerber said that while he is not selling his Tesla stock, \u201d I\u2019m not going to mince words about it anymore as a shareholder. It\u2019s absolutely outrageous, his behavior and the damage he\u2019s caused to the brand.\u201d<\/p>\n

Gerber said Musk has essentially abdicated his responsibilities as Tesla CEO: \u201cIt\u2019s all about Twitter, and what he can tweet, and how many people he can piss off\u2026 What\u2019s going to happen to Tesla over the next 10 years, are they gonna achieve their mission if the CEO isn\u2019t actually the CEO? Because he\u2019s certainly not acting as the CEO of Tesla.\u201d<\/p>\n

An X executive told MarketWatch that the company did a \u201csweep\u201d of the accounts next to the IBM ads. Those accounts \u201cwill no longer be monetizable\u201d and specific posts will be labeled\u00a0\u201cSensitive Media.\u201d<\/p>\n

The executive said 99% of measured ad placements on X this year have appeared adjacent to content scoring\u00a0\u201cabove\u00a0the brand safety floor\u201d criteria set by\u00a0industry standards.<\/p>\n

Late Thursday, X\u2019s chief executive, Linda Yaccarino, tweeted: \u201cX\u2019s point of view has always been very clear that discrimination by everyone should STOP across the board \u2014 I think that\u2019s something we can and should all agree on. When it comes to this platform \u2014 X has also been extremely clear about our efforts to combat antisemitism and discrimination. There\u2019s no place for it anywhere in the world \u2014 it\u2019s ugly and wrong. Full stop.\u201d<\/p>\n

The posts and ad placement come amid a wave of antisemitism on digital forums including X and a downturn in advertising on the platform linked to hate speech and misinformation. Musk said in July that ad revenue had plunged about 50%.<\/p>\n

The latest kerfuffle is likely to complicate the efforts of Yaccarino, who was hired in June from Comcast Corp.\u2019s
\n CMCSA,
\n -0.28%<\/bg-quote>
\n NBCUniversal to sway advertising agencies and major brands to stay on, or initiate relationships with, the platform now known as X.<\/p>\n

Tesla shares fell nearly 4% on Thursday but are still up about 90% to date in 2023.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

IBM Corp. IBM, +0.31% has abruptly pulled ads from X, formerly Twitter, amid a maelstrom of controversial comments from billionaire owner Elon Musk and the placement of IBM ads. \u201cIBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation,\u201d the […]<\/p>\n","protected":false},"author":1,"featured_media":85570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-85569","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIBM pulls ads from X after Elon Musk\u2019s comments appear to endorse antisemitic conspiracy theory | iFintechWorld<\/title>\n<meta name=\"description\" content=\"IBM Corp. 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