'Really?' Tesla Bull Gary Black Advises Elon Musk To Sell X To 'Another Media Entity' Instead Of Flipping Advertisers Off

Amidst the aftermath of Elon Musk‘s lashing out against hesitant advertisers at the New York Times DealBook Forum, a bullish Tesla analyst advised him not to curse out customers and suggested selling X (formerly Twitter) to another media entity.

What Happened: On Wednesday, Tesla investor Gary Black expressed his disapproval, criticizing Musk’s candid yet profanity-laden dismissal of advertisers. Black stated, “Really? Why curse out your customers? Elon should sell Twitter to another media entity. He seems to hate his customers, the advertisers.”

In response to users’ questions and support for Musk’s actions, Black highlighted the potential regrettable consequences of Musk’s disregard for the significance of advertisers in X’s financial ecosystem. 

According to Black, advertisers are the primary revenue source for a social media platform like X, and alienating them could lead to a mass exodus.

Why It’s Important: During the forum, Musk faced questions about his endorsement of an antisemitic conspiracy, resulting in advertisers leaving X. 

While Musk apologized, he expressed frustration at the media’s alleged neglect of his explanations. 

When asked about some advertisers withdrawing from X, Musk used profanity, stating, “If someone is going to blackmail me with advertising or money, go f**k yourself. Go. F**k. Yourself. Is that clear?”

Earlier reports indicated a potential substantial loss in advertising revenue for X, with an estimated downturn of up to $75 million by the end of the year. X’s current valuation is also reported to be less than half of Musk’s initial purchase.

Musk had previously advocated for X to reduce reliance on advertising and prioritize paid subscriptions. However, the $8/month subscription fee only attracted less than 1% of X’s user base, resulting in an annual revenue of under $120 million.

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