Twitter CEO Jack Dorsey has come with an abrupt announcement that the company would ban paid political ads. “We’ve made the decision to stop all political advertising on Twitter globally,” Jack tweeted.
He also listed down the motives that led to this ban in the Twitter thread. According to him, political message reach "should be earned, not bought."
As the US General Election is around the corner, Twitter’s move at this time is relevant than any other context, and it sheds light on various topics such as free speech, political campaigning, propaganda, and so on. As this new announcement is a great deal of news in the political spectrum, it brings an impact on the business field as well.
Mark Zuckerberg, founder, and CEO of Facebook, earlier made his decision, not fact-check ads run by politicians. Even though Jack criticized Mark’s decision, there was no mentioning of Twitter’s policy on ad restrictions. The latest move drew ire from Republicans and praise from Democrats.
Analysts are forecasting that the ban would “significantly reduce Twitter’s business.” It has already started reflecting on its shares as the post-announcement shares fell 1.9%.
On Wednesday, a fake Trump campaign page was reported asking online donations. The Trump campaign declared that the fake campaign named "DonaldTrumpCampaign," was not affiliated with the real campaign. As such reports are coming out, Twitter’s ban will lay an immense pressure on Facebook.
Jack emphasizes the power and potential of internet ads in the world, and the new advancement and tools are doubling the impact.
According to him, “Machine learning-based optimization of messaging and micro-targeting, unchecked misleading information, and deep fakes” are new challenges to civic discourse. And, Twitter is not fuelling for the political ramifications, he explains.
The ban will take effect on November 22nd, and will be stopping candidate ads in the beginning and will extend the ban gradually.
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