https://techcrunch.com/2022/04/25/will-advertisers-flee-a-free-speech-twitter/

New Twitter owner Elon Musk has emphasized his belief that “free speech” is critical to Twitter’s future, even noting in the press release announcing the deal today that “free speech is the bedrock of a functioning democracy.” But there is one significant complication with running an unmoderated (or only lightly moderated) social platform supported by advertisers: and that’s the advertisers themselves. They might leave!

If Twitter were to turn back the dials on content moderation, it could allow more bullying, violent speech, hate speech, misinformation and other abusive content to gain ground. This may make Twitter less palatable to newcomers who were already wary about posting in a “public square” — an area that impacts Twitter’s ongoing concerns with flat user growth. But it could also disincentivize advertisers from investing their budgets with the platform.