{"id":78897,"date":"2023-05-17T17:35:01","date_gmt":"2023-05-17T14:35:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78897"},"modified":"2025-09-11T08:00:09","modified_gmt":"2025-09-11T05:00:09","slug":"ripple-cto-jokes-about-twitters-40m-revenue-loss","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-cto-jokes-about-twitters-40m-revenue-loss\/","title":{"rendered":"Ripple CTO jokes about Twitter&#8217;s $40m revenue loss"},"content":{"rendered":"<p>The chief technology officer of Ripple, David Schwartz, commented on the news that Twitter lost $40 million in advertising revenue due to the platform&#8217;s &#8216;Community Notes&#8217; feature.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Man did I call it. Musk just revealed that Twitter lost $40 million in advertising revenue due to advertisers not appreciating having their ads fact checked. <a href=\"https:\/\/t.co\/TiQbbzTvRw\">https:\/\/t.co\/TiQbbzTvRw<\/a><\/p>\n<p>\u2014 David \u00abJoelKatz\u00bb Schwartz (@JoelKatz) <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1658697082050580480?ref_src=twsrc%5Etfw\">May 17, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8216;I caused this. Musk just reported that Twitter lost $40 million in advertising revenue because advertisers did not appreciate the fact-checking of their own materials,&#8217; wrote Schwartz.<\/p>\n<\/blockquote>\n<p>The head of the social network, Elon Musk, said in an interview with CNBC that the company lost this amount after two fairly large advertisers were subjected to user fact-checking.<\/p>\n<p>Schwartz joked that he was to blame for the situation. In one of his earlier posts, he commented on an advertisement for vegetable-frying bags that the community criticised, adding several notes about the product&#8217;s poor quality.<\/p>\n<p>Musk noted that he had spoken with the departing advertisers, advising them simply to refute users&#8217; statements. The billionaire still believes that the new feature on Twitter is the right solution.<\/p>\n<p>According to the businessman, machine code automatically selects useful comments and posts them under the main post.<\/p>\n<p>He also noted that at the time of the purchase Twitter had an annual negative cash flow of $3 billion, and $1 billion was in the company&#8217;s bank accounts.<\/p>\n<p>Earlier, Musk said that the social network&#8217;s approximate profit for the year would be about $3 billion. In his view, this figure could have been around $4.5 billion if \u201c2023 had been normal\u201d.<\/p>\n<p>Earlier in May, Elon Musk <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-to-step-down-as-twitter-ceo\">announced his departure<\/a> as Twitter&#8217;s chief executive. Linda Yaccarino, head of NBCUniversal&#8217;s advertising division, will take over the post.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chief technology officer of Ripple, David Schwartz, commented on the news of Twitter&#8217;s loss of $40m in advertising revenue due to the &#8216;Community Notes&#8217; feature.<\/p>\n","protected":false},"author":1,"featured_media":78898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1376,1217,40],"class_list":["post-78897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-david-schwartz","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78897"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78897\/revisions"}],"predecessor-version":[{"id":78899,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78897\/revisions\/78899"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78898"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}