Business & EconomyBalenciaga says goodbye to Twitter

Balenciaga says goodbye to Twitter

Luxury brand Balenciaga has deleted its Twitter account which had nearly one million followers.

While most brand names have simply put a hold on advertising on Twitter, Paris-based Balenciaga is the first luxury brand to make an exit.

The brand did not share any details other than to confirm its leaving.

The situation with Twitter’s problems escalated after Elon Musk decided to put the blue check marks on Twitter up for sale for $8 a month. This resulted in a wave of fake accounts with check marks popping up on the site.

Things soon got out of hand when a verified account impersonating pharmaceutical company Eli Lilly announced that it would be providing free insulin. Soon after that, the company’s stock dropped four per cent wiping out billions in market capitalization.

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Eli Lilly then stopped advertising on Twitter.

Similarly, on November 11, theatrical guide Playbill left a final tweet for its 400,000 followers on Twitter. It said, “Because of its tolerance for hate, negativity and misinformation, our time with the social media platform has come to an end.”

Playbill also said that any content from a Twitter account featuring their name on it should be ignored.

“Please understand that it is not us”.

Due to these incidents Twitter has since halted the Twitter Blue service as moderators try to stop the onslaught of fake tweets and accounts. But how this will impact big international corporations and celebrities and whether they will remain or return is uncertain.

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Other companies that have decided not to advertise on the platform are General Motors, Volkswagen, Pfizer and General Mills.

Musk is also highly unpopular for his mass firings after purchasing Twitter though some employees have now been asked to return. He also terminated the work from home policy much to the chagrin of employees.

He said that employees have to work in the office to prepare for the difficult times ahead. “The road ahead is arduous and will require intense work to succeed,” he said.

Aside from Balenciaga, celebrities like Shonda Rhimes and Gigi Hadid have also left Twitter.

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