Then when companies decide "Hey, I don't want to give my money to a company like that" based on reports of rising hate comments and speech on the platform Elon then threatens to sue them despite their protected speech.
It's giving "free speech for me but not for thee", which rubs a lot of people the wrong way. And, to many, this incredibly public meltdown of Twitter and Elon's inability to not be the center of attention is why people are laughing. It's absurdity to the nth degree.
The same logic applies in the other direction too, eg if I sell beer and my customers object to my spokesperson, I can be sorry about their decision, and regret their choice not to buy my beer, but I dont have the right to complain.
In both cases, a business decision was made, and the business owner must deal with the consequences.
I said this so many times it's embarrassing, but the wrong assumption is that advertisers stop buying ads because somehow the content directly damages the brand. Which I think is super naive. The reality is that organisations and media who dislike the content threaten advertisers of organising campaigns against them if they don't boycott the platform. Consumer actions (right or wrong, doesn't matter) are almost never spontaneous, they need to be organised and promoted. There are organisations that have this as one of their core businesses and have an enormous ability to influence what is published.
So Musk is not complaining about the fact that his advertisers are going elsewhere, but about the fact that political organisations are pressuring them to do so under threat of damaging their business.
If I'm the CMO of <bigcorp>, I can either be watching 24x7 for a blowup that is going to consume all my people and news cycles about my company for a week, or I can just give up on X and move my spend to, say, YouTube or Tiktok. I only have so many cycles in the day, and X no longer even gives me decent information about my reach (eg they withdrew from the MRC audit that advertisers use to validate reach). Pulling back is an easy decision.
Like Elon said in his Dealbook interview last November, let's see where the chips fall.
The guy is an existential threat.
Well, other than the whole little thing where he said "advertisers leaving will destroy Twitter and it will be all their fault".
Platforms offered advertising for, last I checked, making money.