Now, Musk and CEO Linda Yaccarino are back in damage control mode, trying to scrounge up some much-needed funds at this year's Cannes Lions festival in southern France. The mercurial billionaire reportedly met with executives from the likes of the NFL, L'Oreal, Qualcomm, and Target, according toin November — fighting words that likely didn't sit well with the execs he's now pleading to return to X.
"I do shoot myself in the foot from time to time, but at least you know it is genuine, not from the PR department," he's latest report shows, Musk's leadership has been disastrous for the platform. Revenue tanked by almost 40 percent in the first half of 2023 compared to the same period in 2022. The company lost a whopping $456 million in the first quarter of 2023 alone.
Meanwhile, Musk used the opportunity this week to assure advertisers that AI — what else? — will once again save the day by making ads more relevant to customers.
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