Amazon, Inc. AMZN was among the companies that pulled advertisements from the Elon Musk-owned social media platform X after Musk endorsed an antisemitic post on the platform. And on Saturday, the e-commerce company came under a scathing attack from the billionaire.
What Happened: Over the weekend, an X user shared a screenshot of a Daily Mail story that reported that Amazon and Etsy had received backlash for selling “Hamas-style” headbands and “From the River to the Sea” t-shirts. The user also underlined the fact that Amazon paused advertising on X under pressure from an activist organization, which had allegedly told the company that “users might think their ad appearing next to a random user’s post could make them look bad.”
A Tesla enthusiast reposted the screenshot and expressed surprise that Amazon was selling the headbands and t-shirt. “And at the same time Amazon is virtue signaling by pausing advertising on X over a fake Media Matters scheme?” the user asked incredulously.
The post caught the attention of none other than Musk himself. Commenting on the post, he simply said, “double-standard.”
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Why It’s Important: Musk has continued to defend himself amid mounting criticism over his support for the antisemitic post. “This past week, there were hundreds of bogus media stories claiming that I am antisemitic. Nothing could be further from the truth. I wish only the best for humanity and a prosperous and exciting future for all,” he said in a post.
X is expected to lose as much as $75 million in ad revenue by the end of 2023 as major brands pause marketing campaigns on the platform, The New York Times reported, citing internal documents. X, meanwhile, said that about $11 million in revenue was at risk, although the exact figure remains uncertain as several advertisers have either returned to the platform or increased their spending on it.
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