Twitter stocks take a hit as report calls it 'Harvey Weinstein of social media'
Citron Research bases comments on Amnesty International Report on Twitter failing to check abusive behaviour by users
Published - Dec 21, 2018 8:35 AM Updated: Dec 21, 2018 8:35 AM
A report released by Citron Research has lashed out at Twitter, calling the social media platform the “Harvey Weinstein of social media”.
Right after the release, Twitter’s stocks tumbled 11 per cent at $29.29 a share.
“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,” the report said.
The Amesty International Report has claimed widespread abuse on the Twitter platform. It has slammed Twitter for not doing enough to prevent its users from indulging in abusive behaviour. “We have built the world’s largest crowd-sourced data set about online abuse against women…Twitter is a place where racism, misogyny and homophobia are allowed to flourish basically unchecked,” the report stated.
“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. “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,” the report said.
Reacting to the barrage of negative comments, Twitter tried to defend itself, saying it has been working on controlling the kind of abuses they are being pulled up for.
“Our abusive behavior policy strictly prohibits behavior that harasses, intimidates or silences another user’s voice. We are also investing in better technology and tools to enable us to more proactively identify abusive, violative material, to limit its spread and reach on the platform and to encourage healthier conversations,” a Twitter spokesperson said.
“With regard to [the] forthcoming [Amnesty International] report, I would note that the concept of ‘problematic’ content for the purposes of classifying content is one that warrants further discussion. It is unclear how [Amnesty has] defined or categorized such content, or if [they] are suggesting it should be removed from Twitter. We work hard to build globally enforceable rules and have begun consulting the public as part of the process — a new approach within the industry,” Vijaya Gadde, Legal, Policy and Trust & Safety Global Lead at Twitter said.For more updates, be socially connected with us on
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