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☆ Hedge fund giant Third Point reportedly facing big investor outflows in 2023 amid slumping returns
▼ + stars: | 2023-09-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Dan Loeb's Third Point is dealing with big investor outflows in 2023, the Wall Street Journal reported. Investors have pulled funds after Loeb missed out on the huge tech rally earlier this year. The WSJ report said Loeb is now betting on an eventual credit crunch amid rising interest rates. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. According to a Friday report from The Wall Street Journal, Third Point funds have dropped by about 1.6% through August.

Persons: Dan Loeb's, Loeb, —, Dan Loeb, annualized, Steve Davis, I'm, we've, Sam Bankman Organizations: Wall Street Journal, Investors, Service, Wall Street, Journal Locations: —, Sacramento

☆ Elon Musk spent Christmas Eve moving servers at one of X's data centers in Sacramento, in an example of his 'recklessness' and 'impatience,' biographer says
▼ + stars: | 2023-09-12 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Elon Musk spent Christmas Eve moving X's data servers from one facility to another. The facility was a major cost for X, according to Musk's new biography penned by Walter Isaacson. The next day, Christmas Eve, Musk called in reinforcements including friends from Tesla, SpaceX, and The Boring Company to procure equipment and tools needed to move the servers. Musk later admitted the "whole Sacramento shutdown was a mistake," after the lack of servers caused a whole host of issues. Isaacson wrote that Musk's Sacramento incident was "an example of his recklessness, his impatience with pushback, and the way he intimidated people."

Persons: Elon Musk, Walter Isaacson, Isaacson, Elon, X —, Musk, —, H, James, Andrew Musk, Austin, Alex, Steve Davis, Ron Desantis, pushback Organizations: Service, CNBC, Twitter, NTT —, SpaceX, The, Company, Boring Company Locations: Wall, Silicon, Sacramento, Portland , Oregon, Portland, San Francisco, Uzbekistan

☆ Elon Musk moving servers himself shows his 'maniacal sense of urgency' at X, formerly Twitter
▼ + stars: | 2023-09-11 | by ( Walter Isaacson | ) www.cnbc.com time to read: +14 min

Musk wanted to save that money by moving the servers to one of X's other facilities, in Portland, Oregon. James Musk asked. "The dude is not very good at math," Musk told the musketeers. The lack of servers caused meltdowns, including when Musk hosted a Twitter Spaces for presidential candidate Ron DeSantis. And the Sacramento caper showed X employees that he was serious when he spoke about the need for a maniacal sense of urgency.

Persons: Walter Isaacson's, Elon Musk, Musk, you've, Tesla, Steve Davis, Omead Afshar, James Musk, James, Andrew, Austin, Elon, Alex, Alex the, jimmy, —, Ross Nordeen, enlistees, I've, Ross, pushback, Ron DeSantis, X, Walter Isaacson, Jennifer Doudna, Leonardo da Vinci, Steve Jobs, Albert Einstein, Benjamin Franklin, Henry Kissinger Organizations: Twitter, SpaceX, Cape Canaveral, Avid, Toyota Corolla, Apple, Home, NTT, Walmart, Extra Care, PayPal, Depot, CNBC, Tulane University, CNN Locations: Musk's, Sacramento, Portland , Oregon, Portland, Fremont, Texas, Cape, San Francisco, Tahoe, Elon, Austin, Las Vegas, Uzbekistan, Square, Yelp

☆ Elon Musk's former Twitter lieutenant says he needs to 'hear hard truths' and not fire everyone who goes against him
▼ + stars: | 2023-07-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Former Twitter lieutenant Esther Crawford warned Elon Musk is surrounded by "yes men." Esther Crawford, Elon Musk's former lieutenant at Twitter, voiced some of her concerns with the billionaire's leadership at the social media company in 14-minute video on Wednesday. Musk has been known to work with close friends across his companies and has even been criticized for having his close friends and brother on Tesla's board in the past. "Instead he'd poll Twitter, ask a friend, or even ask his biographer for product advice," Crawford wrote. Last year, venture capitalist and early Twitter investor Chris Sacca warned Musk needed to surround himself with more people that would challenge him.

Persons: Esther Crawford, Elon, Crawford, Musk, Elon Musk's, David Sacks, Steve Davis, Elon Musk, Clive Mason, Chris Sacca, Sacca Organizations: Twitter, Boring Company Locations: Elon

☆ A Twitter exec quit over arguments he install illegal locks and heaters that 'would put lives at risk' in headquarters' bedrooms, lawsuit says
▼ + stars: | 2023-05-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A lawsuit accuses Elon Musk of risking Twitter staff's lives with illegal locks on office bedrooms. An exec was told locks that would automatically open in case of a fire were too expensive, the suit says. And the lawsuit says a fire would've been more likely due to noncompliant electrical work and unlicensed space heaters. A top Twitter manager quit the company after refusing to install locks in the headquarters' bedrooms which contravened building regulations and could risk staff's lives in the case of a fire, a lawsuit says. The lawsuit accuses Musk of showing "reckless disregard" for "both the law and for the lives and safety of his colleagues and employees."

☆ Elon Musk and Twitter face San Francisco city probe over headquarters
▼ + stars: | 2023-05-19 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

In an aerial view, a modified company sign is posted on the exterior of the Twitter headquarters in San Francisco, April 10, 2023. Elon Musk and X Corp. — the Musk-backed parent company of social media platform Twitter — face an investigation over building code violations at Twitter's San Francisco headquarters on Market Street, according to online public records with the county's Department of Building Inspection. In the drive to cut costs, the Musk transition team told employees to simply refuse to pay landlords who were owed rent by the company. When informed of the risks of termination fees for certain leases, Davis told Twitter senior employees, "Well, we just won't pay those. A representative for the Department of Building Inspection in San Francisco did not immediately respond to a request for further information.

☆ Elon Musk wanted to build a bathroom next to his office at Twitter so he didn't have to wake up his bodyguards when he needed to pee in the night, lawsuit says
▼ + stars: | 2023-05-18 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Elon Musk requested a bathroom be built next to his office at Twitter's headquarters, a lawsuit says. That's allegedly because he didn't want to have to wake up his security team in the middle of the night. Elon Musk wanted to have a bathroom built next to his office in Twitter's headquarters so he didn't have to wake up his bodyguards in the middle of the night to go pee, a new lawsuit claims. A Twitter engineer told the BBC in March that at least two bodyguards follow Musk around its San Francisco headquarters, including to the restroom. Last month, the billionaire told the BBC that he sometimes sleeps on a couch in the library at Twitter's headquarters.

Elon Musk made a surprise announcement that he'd found Twitter's next CEO. Twitter employees think they may know who Elon Musk has picked to replace himself as CEO of the social media company. Chatter from the media industry points to Linda Yaccarino, head of global advertising and partnerships at NBCUniversal. Yaccarino has told friends in the past that she wanted to be CEO of Twitter, one person familiar with the situation said. The Wall Street Journal reported that Yaccarino is in talks to be Twitter CEO.

☆ Elon Musk sparks confusion and anger among Twitter employees who say reduced parental leave policy is 'the last straw'
▼ + stars: | 2023-05-08 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Twitter's Walter Gilbert tried in an email to calm angry employees over a much-reduced leave policy. Twitter's new head of HR attempted over the weekend to quell rising employee upset over a drastic cut to parental leave under Elon Musk. Twitter employees, whom Musk has reduced by roughly 90%, are angry at the change, the two people familiar said. Gilbert's weekend email seemed liked an attempt to walk back the new hard line on parental leave, the people familiar said. See Gilbert's full email below:Team,We know there are a lot of questions about our parental leave policy.

☆ Texans sound off against Elon Musk's 'horrifying' plans for dumping The Boring Company wastewater into Colorado River
▼ + stars: | 2023-03-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The Boring Company is facing criticism from Texans over its plans to dump treated wastewater. One resident said about 400 people showed up at the public meeting on The Boring Company's plans. "The thought of this happening is horrifying," Erin, who runs an organic farm near the Boring Company facility, told Fox News. The Boring Company. A spokesperson for The Boring Company did not respond to a request for comment from Insider.

☆ Twitter employees nicknamed a Tesla executive 'the Elon whisperer' because of his ability to read Elon Musk's mood, report says
▼ + stars: | 2023-03-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Twitter staff nicknamed a Tesla exec "the Elon whisperer" because of his ability to read Elon Musk's mood. Omead Afshar, the Tesla exec, joined Twitter late last year, according to the Financial Times. Omead Afshar, who once led Tesla's Gigafactory in Austin, joined Twitter last year and is part of Elon Musk's tight inner circle, according to the Financial Times. Afshar has been helping Musk with "the biggest, stickiest issues at the company," according to the report. According to The Information, Musk's company is at least $70 million behind on a five-year contract it signed with Amazon Web Services in 2020.

☆ Elon Musk frequently told Twitter staff 'let them sue' in response to vendors and landlords complaining about unpaid bills, report says
▼ + stars: | 2023-03-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk told staff "let them sue" in response to complaints from Twitter vendors over unpaid bills, the FT reports. Musk has sought to aggressively cut costs since taking over Twitter in October 2022. Various lawsuits have been filed against Twitter claiming more than $14 million over unpaid bills. The team frequently refused to compensate Twitter's vendors, landlords, and partners in an effort to keep costs low, the report added. At least nine lawsuits have been filed against Twitter claiming more than $14 million plus interest, over unpaid bills, the Wall Street Journal reported in February.

☆ Real-estate investors said eliminating a popular tax-avoidance tool would damage the economy
▼ + stars: | 2023-03-16 | by ( Aj Latrace | ) www.businessinsider.com time to read: +6 min

President Biden has renewed his commitment to ending the 1031 exchange, a popular tax-deferral tool. Real-estate investors said the negative consequences of doing so could outweigh any gains. They said one impact of ending it could be pushing investors to take their money out of real estate. Of course, real-estate investors — from small-time mom-and-pop landlords to big corporate firms — will want to protect their wealth, and will meet any move to end the 1031 exchange with friction. If they take away the 1031 exchange, there's no incentive not to eat the goose.

☆ Matthew McConaughey's Salesforce gig
▼ + stars: | 2023-03-04 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Hallam Bullock here, reporting from London — and yes, Matthew McConaughey is on my mind. Salesforce has reportedly been paying McConaughey $10 million a year to act as a "creative adviser." Robyn Phelps/InsiderProgrammers are thrilled about AI tools like ChatGPT. Read why programmers are pumped about the rise of AI tools. Larry Lundstrom spends about 40 to 60 hours a week as a pastor, but on the side, he uses AI tools like ChatGPT to make pitch decks for businesses.

☆ The Twitter leaders Elon Musk put in place keep quitting or getting fired. See who's left and who's recently been hired, including engineers from Google's DeepMind and a Tesla superfan.
▼ + stars: | 2023-03-03 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

About half of the 20 people who reported to Elon Musk after his takeover have left Twitter. Musk has hired some new people, including engineers who may be working on an AI project. Elon Musk's Twitter is ruled by chaos. None have been directly replaced, the people familiar said, although Musk has also hired some new people from outside his companies. Below is a complete list of who Musk set as his direct reports, including those who have already left the company.

☆ Twitter's mass layoffs mean some junior employees are in charge of areas they've never worked on before, report says
▼ + stars: | 2023-03-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Junior Twitter employees have been left in charge of areas they haven't worked on before, per NYT. Twitter's workforce is about a quarter of the size that it was before Elon Musk took over. That means Twitter now has less staff than the 2,700 it had when it went public in 2013. Twitter staff changes also mean it is without a permanent head of global infrastructure, the Times reported, after Musk's chosen replacement — a Tesla engineer — resigned in January. Nearly a thousand users also reported problems with Twitter during the Super Bowl halftime show.

☆ The Boring Company CEO who slept at Twitter's headquarters with his newborn baby is rumored to be Twitter's next CEO, report says
▼ + stars: | 2023-02-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Twitter employees are speculating that The Boring Company CEO Steve Davis could replace Elon Musk as CEO, Platformer reported. The publication said that Davis helped orchestrate a round of layoffs at the social media company that impacted about 200 people this week. The Boring Company CEO spent the first few weeks after his baby was born sleeping in a makeshift bedroom in the office, along with his newborn and partner, according to the report. Before he became CEO of The Boring Company, Davis worked with Musk at SpaceX. Tesla's stock has fallen over 37% since he announced his plans to buy the social media company on April 14.

☆ The boss of Elon Musk's Boring Company called Twitter managers to ask about employee performance just days before 200 people were laid off, report says
▼ + stars: | 2023-02-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

The Boring Company's boss called Twitter managers last week to ask about staff performance, Platformer reports. Twitter then cut at least 200 employees on Saturday night, including four high-ranking managers. Davis is a longstanding ally of Twitter owner Elon Musk, and has helped cut costs since his takeover. Steve Davis, a long-term associate of Musk, has been working with Twitter for the past few months to help cut costs at Musk's request. These managers later learned on Saturday that at least 200 employees were being laid off, including product managers, data scientists, and engineers.

☆ Twitter recruiters are keeping busy by reaching out to select former employees Elon Musk laid off
▼ + stars: | 2023-01-24 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Some Twitter recruiters are getting back to work about three months after Elon Musk's acquisition. Despite being laid off by Musk in his first round of cuts, former employees are being contacted by Twitter recruiters. At least two emails have been sent by Twitter recruiters to laid-off workers with the subject line "Hello from Twitter!," according to messages seen by Insider. That subject line has been used by Twitter recruiters for years in reaching out cold to prospective job candidates, one of the people familiar said. "That's dirty," one former employee said of Twitter recruiters contacting people who worked there only a couple of months ago.

☆ Twitter employees have been bringing their own toilet paper to the office after janitorial services were cut, report says
▼ + stars: | 2022-12-30 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Bathrooms at Twitter's San Francisco HQ are dirty amid a lack of janitors, per the New York Times. Twitter failed to negotiate a new contract with a janitorial company after they went on strike. The company's San Francisco headquarters have been left with dirty bathrooms and the office is in disarray, per the publication. The company didn't negotiate a new contract with Flagship, the janitorial company that employs them, according to unions. The Boring Company's CEO Steve Davis, who reportedly slept at Twitter's headquarters with his partner and newborn baby, is supervising the cost-cutting exercise.

☆ The CEO of Elon Musk's Boring Company slept at Twitter HQ with his partner and newborn baby, report says
▼ + stars: | 2022-12-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The Boring Company CEO slept at Twitter's HQ with his partner and baby, The Information reported. Steve Davis and his family all slept in its makeshift bedrooms for weeks after the baby was born. Steve Davis spent the first few weeks after his baby was born sleeping in a makeshift bedroom in the San Francisco office, along with his partner. Forbes revealed earlier this month that the "Chief Twit" had converted some space in the San Francisco office into bedrooms. Soon afterwards the San Francisco Department of Building Inspection said it was investigating the building's use after a complaint was made.

☆ The CEO of Elon Musk's Boring Company who reportedly slept at Twitter HQ with his wife and baby once owned a bar called 'Thomas Foolery'
▼ + stars: | 2022-12-24 | by ( Aaron Holmes | Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk's Boring Company aims to build a network of road tunnels under major cities. Davis reportedly slept at Twitter HQ with his wife and baby after Elon Musk sought his help. Musk also owns The Boring Company, which has built a reputation for offbeat stunts. Before working for Musk, Davis founded a frozen yogurt shop and a bar that accepts bitcoin, among other ventures. Boring Company has faced scrutiny, especially in Chicago and Las Vegas, where it aimed to build its first tunnels.

☆ SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
▼ + stars: | 2022-12-08 | by ( Lora Kolodny | ) www.cnbc.com time to read: +6 min

Ever since, he has enlisted high-ranking executives and engineers from his other businesses, including SpaceX, Tesla and The Boring Company, to help out at the social media company, according to internal records obtained by CNBC and conversations with recent Twitter employees. Musk has also enabled partners from investment firms who participated in the Twitter buyout access to work within the social media company. In his testimony, Musk characterized Tesla employees' work for him at Twitter as "just a voluntary thing." He also said: "This was sort of an after-hours, just if you're interested in evaluating the -- helping me evaluate Twitter engineering, that would be nice. In addition to Tesla employees, Musk has also enlisted execs and employees from SpaceX, the reusable rocket and satellite internet services company he founded in 2002, to help him at Twitter.

☆ Haaland resumes normal service as City go top, Leeds win thriller
▼ + stars: | 2022-11-05 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

Leeds United backed up their stunning win over Liverpool last week when they stormed back from 3-1 down at home to Bournemouth to win 4-3 with Crysencio Summerville again the hero with the winning goal. Haaland had missed City's last two games with an injury and was deemed fit enough only for the bench against Fulham. He was sent into the fray just past the hour mark with City, despite being a man light, pushing for the winner. Almost immediately he had a headed goal ruled out for offside after a VAR check, but neither he, nor City, would be denied. Pascal Gross's fifth goal of the season then secured the win for Brighton to move them to sixth with 21 points.

☆ Twitter reportedly ready to cut about 3,700 employees
▼ + stars: | 2022-11-02 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Twitter employees are expecting a 50% overall reduction in force after Tesla and SpaceX CEO Elon Musk took the reins of the social network last week. Gracias is a long-time investor in Musk's other companies, including SpaceX and Tesla, and was a Tesla board member. A calendar item for the reduction in force related meeting was made widely visible, possibly accidentally, to employees at Twitter on their internal systems. As CNBC previously reported, Musk quickly brought many trusted advisors and employees from his other companies into Twitter to advise him on next steps after the deal closed last week. After acquiring Twitter for $44 billion last week, Musk is scrambling to improve margins, including by slashing headcount and operating expenses and finding new ways to generate revenue.

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