Twitter has become the Harvey Weinstein of Social Media – New Price Target – $20
Amnesty International Study makes Twitter “Toxic” to investors and advertisers.
While Wall Street was focused on Facebook being down 7% on a New York Times article citing potential government regulation and criticizing their privacy controls, the real story of the day in the world of social media was more startling and disturbing.
Amnesty International has concluded that Twitter is an abuser of human rights and has become a place that is “toxic” for women, noting that women are abused every 30 seconds on Twitter. The study focused on 800 female journalists and politicians to show the culture of hate that underpins Twitter.
Citron has been following Twitter for years and when we read the just published piece from Amnesty International, we immediately knew the stock had become uninvestable and advertisers will soon be forced to take a hard look at all sponsorships with Twitter.
As quoted from an Amnesty Senior Advisor:
“We have built the world’s largest crowdsourced data set about online abuse against women… Twitter is a place where racism, misogyny and homophobia are allowed to flourish basically unchecked.”
Amnesty went on to state:
“Twitter’s failure to effectively tackle violence and abuse on the platform has a chilling effect on freedom of expression online and undermines women’s mobilization for equality and justice – particularly groups of women who already face discrimination and marginalization,”
In reference to Twitter hiding this systemic problem Amnesty states:
“To be clear: it is NOT our job as a human rights organization to be analyzing abusive tweets on this platform – it’s Twitter’s,” he said. “But [the company’s] refusal to make public this information, while allowing abuse to flourish basically unchecked, meant we had to do this study for them.”
Twitter now not only faces the problem of conservative backlash but more importantly the ad buyer who must be sensitive to all social norms. Ask anyone from Laura Ingraham to Kevin Hart to Tucker Carlson about how enthusiastic advertisers are about associating with anything that hints of intolerance.