About a week ago, Elon Musk took over Twitter.

He's made a lot of changes.

He named himself Chief Twit, he fired the CEO, and he laid off half the staff more than

3,000 people.

And in response to his takeover, one big thing has happened.

Advertisers are pulling back.

Ready atop advertising firm is pausing all of its ads on Twitter.

United Airlines is the latest company to pull its advertising from Twitter.

Volkswagen, Pfizer, Audi, and General Mills have joined the list of big name companies.

Advertisers have been freaked out by the takeover, plain and simple.

That's our colleague, Suzanne Bernice.

Literally in days, we are talking some of the biggest names in advertising have temporarily

paused their spending on Twitter.

We had GM, Mondalees, basically the people that make Oreo cookies, General Mills, Pfizer,

Volkswagen, and many of its brands like Audi are now frozen.

To give you a sense of the scale of this, there's one big agency that I was talking to that

literally has 20 and counting different advertisers that have paused just in the last couple

of days alone.

And this is really bad news for Twitter, which gets almost 90% of its revenue.

From advertising.

Welcome to the journal, our show about money, business, and power.

I'm Kate Limbaugh, it's Monday, November 7th.

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