I wonder how this will play out in terms of lawsuits. You have the Reeeee crowd running around sneering that Musk is losing advertisers and revenue. However, Twitter was selling ad space based on 'look at the reach you'll have because our platform is so popular!' Basically fraud. (How much money was the C-suite making again?)
Not that I am expecting the SEC to do anything but if this had ever been a legit business, they should.
You don't need the SEC to do something about it. You can claim fraud and sue them directly if you are an advertiser. But you need something substantive to survive pre-trial motions. You can't just claim they lied. Elon needs to drop those receipts. Then it will be open season.
I wonder how this will play out in terms of lawsuits. You have the Reeeee crowd running around sneering that Musk is losing advertisers and revenue. However, Twitter was selling ad space based on 'look at the reach you'll have because our platform is so popular!' Basically fraud. (How much money was the C-suite making again?)
Not that I am expecting the SEC to do anything but if this had ever been a legit business, they should.
^^^ DING DING DING DING ^^^
You don't need the SEC to do something about it. You can claim fraud and sue them directly if you are an advertiser. But you need something substantive to survive pre-trial motions. You can't just claim they lied. Elon needs to drop those receipts. Then it will be open season.