Thread by @GoAngelo

1/ There is some pretty substantial context about Twitter's 2023 revenue and advertisers that I think partly help explains why Musk is really losing it...

And it involves upfront ad sales. Let me explain...

2/ Back Twitter (like a lot of digital companies) participates in an event called new fronts. At this event, they sell large chunks of ads for the following year.

Typically, Twitter sells like ~600-900M in ads at new fronts. That's guaranteed revenue for following year.

3/ This year, they didn't sell much of anything.

A coalition called Stop The Deal spent time educating and using media buyers and big advertisers at the event to ask Twitter some basic questions about potential Musk takeover before giving him a guaranteed income for 2023.

4/ Media buyers did ask those questions. Twitter had zero answers or assurances, the presentation imploded and ended shockingly early. Twitter from what I understand basically sold almost nothing and locked in extremely little 2023 revenue.

5/ This means that instead of heading into 2023 with 15-20% of 2023 already secured as they typically would have, Twitter heads into next year with almost none of that. All because of Musk's red pilled edgelord approach.

6/ @elonmusk has had months to address these concerns or even learn about them. But instead, he's insisted on antagonizing the very businesses and people that sustain Twitter.

Back in May, the groups and companies weren't calling for a boycott, they were asking basic questions.

7/ My point here is: It's actually worse than that I think a lot of people even appreciate all because Musk's conduct and commitments to roll back brand safety and community safeguards essentially obliterated Twitter's new front sales event that woulda secured 2023 revenue.