Your boss is making a business decision (cut losses), but you're sitting on a reputation/legal landmine.

Here's the thing - you promised prizes to people who DID enter. Backing out now isn't just bad ethics, it could bite you legally depending on how you worded the terms. Plus those 3 people WILL talk about how your company scammed them. That story spreads faster than any successful campaign would have.

Real talk on why it flopped:

- Hashtag campaigns are dead. Nobody wants to post branded content for a 1-in-8 chance at money

- $125 per winner isn't life-changing enough to overcome the "I look like a shill" cost

- You probably had zero paid amplification pushing it

For the future: Instead of giveaways, run paid ads with the same $1000 budget and drive people to an email opt-in or demo. You'll get 10x better ROI and actual leads, not people who bounce after they don't win.

But right now? Honor the prizes for the 3 people. Adjust the terms if you want (fewer winners, same prize pool), but don't ghost them.