Twitter is literally imploding in front of us. The latest person to go is this guy Yoel Roth as per this Tweet sent in by a reader:
This is bad. I am guessing that he’s had to walk the plank so to speak for the Twitter Blue gong show from yesterday….. More on that in a moment…… But it’s actually worse than that. According to the Washington Post, this has gotten the attention of the FTC:
The privacy departures prompted a rare warning from the Federal Trade Commission, which has emerged as the government’s top Silicon Valley watchdog. It marked the second time in two days that a federal official has expressed concern about the chaotic developments at the company, coming less than 24 hours after President Biden said Musk’s relationships with other countries deserved scrutiny.
The agency said that it was “tracking the developments at Twitter with deep concern” and that it was prepared to take action to ensure the company was complying with a settlement known as a consent order, which requires Twitter to comply with certain privacy and security requirements because of allegations of past data misuse. Three of the resignations Thursday were by members of a data governance committee established in the FTC deal, according to a former employee who spoke on the condition of anonymity to discuss internal matters.
Twitter was first put under a consent order in 2011, and it agreed to a new order earlier this year. If the FTC finds Twitter is not complying with that order, it could fine the company hundreds of millions of dollars, potentially damaging the company’s already precarious financial state.
“No CEO or company is above the law, and companies must follow our consent decrees,” said Douglas Farrar, the FTC’s director of public affairs. “Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them.”
This validates this story from earlier today were I said that Musk messes with FTC at his own risk.
Oh, by the way, this is the list of people who have left the company today:
This is really bad. In my opinion, this literally means that Twitter is on life support as far as I am concerned. Because you literally cannot have this much talent leave and it not deeply hurt Twitter. Plus it also may mean that Musk is doing stuff that make people say “I don’t want to go to jail or lose my career over this. I’m outta here!” And remember, for every person that you hear about who has quits Twitter, there’s likely five more or ten more that you don’t. That’s not sustainable for Twitter.
But it is actually worse than that. Remember just yesterday people were impersonating major brands and people via Twitter Blue? Well, the fallout for Twitter is really starting to hit:
Thirty minutes later the REAL Eli Lilly Twitter account Tweeted this:
The problem with this if you’re Musk is that companies will not be on Twitter if the platform does nothing to protect the integrity of their brands. And at present Musk is doing nothing on that front. And advertisers are watching stuff like this situation with Eli Lilly and making their decisions accordingly. Until he changes course and proves he’s capable of providing value to advertisers on Twitter, he’s going to see his ad revenue shrink until it is zero. And then what does he do?
Let’s face it, everything that Musk has done publicly so far to Twitter seems like exactly what I’d do if I wanted to ensure the entire platform ran straight into the ground, and fast. His actions and words make it really hard to see how this isn’t actually his plan. Why he would have this plan I have no idea. But the only other reason for this that I can see is that Musk is incompetent and a horrible businessman. Which I suppose is possible too.
You might want to go sign up for that Mastodon account now. I suspect that you’re going to need it.
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This entry was posted on November 10, 2022 at 8:36 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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Twitter Is Imploding As Another Top Executive Leaves And More Chaos Ensues
Twitter is literally imploding in front of us. The latest person to go is this guy Yoel Roth as per this Tweet sent in by a reader:
This is bad. I am guessing that he’s had to walk the plank so to speak for the Twitter Blue gong show from yesterday….. More on that in a moment…… But it’s actually worse than that. According to the Washington Post, this has gotten the attention of the FTC:
The privacy departures prompted a rare warning from the Federal Trade Commission, which has emerged as the government’s top Silicon Valley watchdog. It marked the second time in two days that a federal official has expressed concern about the chaotic developments at the company, coming less than 24 hours after President Biden said Musk’s relationships with other countries deserved scrutiny.
The agency said that it was “tracking the developments at Twitter with deep concern” and that it was prepared to take action to ensure the company was complying with a settlement known as a consent order, which requires Twitter to comply with certain privacy and security requirements because of allegations of past data misuse. Three of the resignations Thursday were by members of a data governance committee established in the FTC deal, according to a former employee who spoke on the condition of anonymity to discuss internal matters.
Twitter was first put under a consent order in 2011, and it agreed to a new order earlier this year. If the FTC finds Twitter is not complying with that order, it could fine the company hundreds of millions of dollars, potentially damaging the company’s already precarious financial state.
“No CEO or company is above the law, and companies must follow our consent decrees,” said Douglas Farrar, the FTC’s director of public affairs. “Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them.”
This validates this story from earlier today were I said that Musk messes with FTC at his own risk.
Oh, by the way, this is the list of people who have left the company today:
This is really bad. In my opinion, this literally means that Twitter is on life support as far as I am concerned. Because you literally cannot have this much talent leave and it not deeply hurt Twitter. Plus it also may mean that Musk is doing stuff that make people say “I don’t want to go to jail or lose my career over this. I’m outta here!” And remember, for every person that you hear about who has quits Twitter, there’s likely five more or ten more that you don’t. That’s not sustainable for Twitter.
But it is actually worse than that. Remember just yesterday people were impersonating major brands and people via Twitter Blue? Well, the fallout for Twitter is really starting to hit:
Thirty minutes later the REAL Eli Lilly Twitter account Tweeted this:
The problem with this if you’re Musk is that companies will not be on Twitter if the platform does nothing to protect the integrity of their brands. And at present Musk is doing nothing on that front. And advertisers are watching stuff like this situation with Eli Lilly and making their decisions accordingly. Until he changes course and proves he’s capable of providing value to advertisers on Twitter, he’s going to see his ad revenue shrink until it is zero. And then what does he do?
Let’s face it, everything that Musk has done publicly so far to Twitter seems like exactly what I’d do if I wanted to ensure the entire platform ran straight into the ground, and fast. His actions and words make it really hard to see how this isn’t actually his plan. Why he would have this plan I have no idea. But the only other reason for this that I can see is that Musk is incompetent and a horrible businessman. Which I suppose is possible too.
You might want to go sign up for that Mastodon account now. I suspect that you’re going to need it.
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This entry was posted on November 10, 2022 at 8:36 pm and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.