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Eli Lilly pulls millions in Twitter advertising after fake account debacle

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Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#51

My theory is that when people who lean right are complaining about a "woke agenda" at Twitter they are complaining mostly about trans activism. Since Eli Lilly is trans friendly, I wouldn't be sure that Musk is unhappy they are leaving his platform. Corporate Equality Index: List of Businesses with Transgender-Inclusive Health Insurance Benefits https://www.thehrcfoundation.org/professional-resources/corp... Elon Mus…

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Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#52
post #46
post #9

Earlier quoted context omitted.

Patients don't have real choice. Options are either you die or spend hundreds* of dollars on a drug that everywhere else on the planet costs few bucks.

Why is there no black market for insulin? Like build capacity in Mexico/Canada and smuggle the product in the US? Seems like the multiplier would still be pretty good.

There is plenty of gray market for insulin near both borders. No large players (just individuals going over the border to buy).

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#53
post #7

It's super funny that identity verification of authors of things published was basically more than half of the value twitter provided to its users, both readers and writers and the first thing Elon did was to destroy it. Just to replace it with what he calls "payment verified", which basically means you have 8$ and means to send it to twitter. Which apparently is worth less than nothing. It kind of reminds me how a w…

He's turned a useful service into an opportunity to pay real money for a little blue gif. Like NFTs, except you don't even get a unique monkey pic.

Extremely Fungible Tokens.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#54
post #32

Is the fake accounts thing overblown? Like, if I create a fake verified Eli Lilly account on Twitter with no followers, how would anyone even see it? It seems like it would only get picked up and shared by people in on the joke.

>Is the fake accounts thing overblown? From the article: >By Friday morning, Lilly stock had dropped by more than 5% from the day before. The Twitter stunt pulled down the stock price of other diabetes drugmakers, including Novo Nordisk and Sanofi. Lilly’s stock has yet to recover and, on Monday morning, remained down more than 4% over the past five days. I'm not normally one to defend drug makers, but when you're ta…

This sounds like nonsense to me. Tweets didn't bring down the stock price of multiple drugmakers, market volatility did. Pharma market cap will go up or down by more than that on a daily basis for a thousand and one reasons.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#55
post #9

Earlier quoted context omitted.

Patients seem to trust that Eli Lilly's drugs work. The price point may not be trusted, but its efficacy is trusted.

Patients don't have real choice. Options are either you die or spend hundreds* of dollars on a drug that everywhere else on the planet costs few bucks.

Not true. You can buy generic insulin in the US for a reasonable price, it's the new stuff that lasts longer that is expensive.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#56
post #13
post #9

Earlier quoted context omitted.

Patients don't have real choice. Options are either you die or spend hundreds* of dollars on a drug that everywhere else on the planet costs few bucks.

Patients seldom have a choice in any aspect of their care. We could flood the market with dirt cheap insulin using an older formulation but surprise you can’t actually do that without one of the oligarchs buying your company just to stop you.

Or the dirt cheap insulin does not work as well as the newer patented insulin that a private company paid to do R&D for.

There is nothing stopping Congress from passing a bill to fund insulin R&D that provides the newest insulin technology without being patented, but the fact that they do not and would rather sit in their pulpit and “grill” private company representatives proves that it is all a show.

We (sufficient voters) want to pay for nothing, but expect everything.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#57
post #41

Earlier quoted context omitted.

If you asked Elon (atleast before he stepped into Twitter HQ) I'm sure he'd disagree with you, and he'd claim good ideas can come from anywhere and it shouldn't matter who they are or if they are important. It remains to be seen if learning has occurred.

It's classic "If I don't understand it, then it must be easy" syndrome. Oh, Twitter is full of bots! So when I'm in charge I'm going to press the "no more bots" button and save Twitter! Also, the company only needs half this much staff, so we're going to spend a few days firing half of them and then the company will be better off! Elon's not gonna learn because that would tarnish his image of someone who has any idea…

As the classic Twitter meme says: "I would simply…"

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#58

Earlier quoted context omitted.

> And yet their stock is already back up 60% of the amount it dropped in a mere 3 days. Alternatively phrased as after 3 days, only a mere 40% has been lost. Hits different though.

That's the key word: lost. Nothing's been lost - neither Eli Lilly nor their shareholders have lost any money (unless they sold their stock, at which point they aren't shareholders). The price of their stock dipped, and is rising back up. At worst, Eli Lilly would have had slightly higher interest rates on their next round of debt funding.

Stock prices don't move unless people are selling. So shareholders absolutely lost money.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#59

I wonder if Elon also thought of this when he made verification checks paid. He must have been aware of verified accounts getting sold and used for scamming so maybe he wanted to dip into that instead of losing it to middleman.

He doesn't look like he thought much. At all.

But maybe that's some genius plan with a spectacular outcome that I fail to see.

Re: Eli Lilly pulls millions in Twitter advertising after fake account debacle

#60
post #7

It's super funny that identity verification of authors of things published was basically more than half of the value twitter provided to its users, both readers and writers and the first thing Elon did was to destroy it. Just to replace it with what he calls "payment verified", which basically means you have 8$ and means to send it to twitter. Which apparently is worth less than nothing. It kind of reminds me how a w…

They should have done actual verification like many financial accounts do (you upload your ID and answer questions on your past). Musk is ex-payments professional and should have known that gaming payments to adversely attack verification was bound to happen. His assertion that lords and peasant system needs to be dismantled is absolutely correct, however. Twitter has largely turned into message distribution system for 1% and that's limiting its growth. Blue checkmarks bestowed by some opaque priesthood at Twitter is not 21st century.
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