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☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ Jack Dorsey defends Musk's Twitter leadership, saying the billionaire slashed the 'critical sin' of its business model
▼ + stars: | 2024-05-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

But Dorsey said Twitter had been weighed down by its revenue model. Twitter chose brand advertising as its main source of income, a "core, critical sin" that exposed the platform's moderation to the whims of corporations effectively financing the social-media platform, Dorsey said. Building a different business modelTo many, Musk seemed to be axing Twitter's entire business model. "Twitter was a $5 billion a year business," Dorsey said. AdvertisementDorsey's comments come as he quit Bluesky, a platform he helped build after leaving Twitter, and told users to use Musk's X instead.

Persons: —, Jack Dorsey, Dorsey, Mike Solana, Twitter, Solana, Apple, Musk, Elon, Bluesky, Edward Snowden, Julian Assange, he's, Musk's Organizations: Service, Twitter, Fund, Business, Unilever, SpaceX, Disney, IBM

☆ The ex-Twitter director who went 'hardcore' for Elon Musk and slept on the floor of X's office is now working for his Meta nemesis, Mark Zuckerberg
▼ + stars: | 2024-04-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewA former top lieutenant at Elon Musk's Twitter says she's working for Mark Zuckerberg at Meta now. AdvertisementBesides lauding "the exceptional quality of the people" working at Meta, Crawford said she was attracted by Zuckerberg's "vision and intensity." Crawford's latest career move could be an indicator of big moves Zuckerberg may be making in his bid to vanquish Musk's X. "I do plan to keep using both X and Threads," she said in an email to BI on Monday. Representatives for Meta and X didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: —, Mark Zuckerberg, I've, Esther Crawford, Crawford, he's, Zuckerberg, Elon Musk's, Elon, Musk's, hasn't, X didn't Organizations: Service, Elon, Twitter, Meta, Business, BI

☆ Elon Musk apologized for 'incorrectly low' Tesla severance packages
▼ + stars: | 2024-04-18 | by ( Jyoti Mann | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk apologized Wednesday to laid-off Tesla employees for incorrect severance packages. Some workers previously told Business Insider they were offered two months' pay as severance. AdvertisementElon Musk apologized in an email to some laid-off Tesla employees after their severance packages were found to be "incorrectly low," according to a screenshot of the email viewed by Business Insider. "As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low," Musk said in the brief email sent Wednesday. Other workers told BI that as of Wednesday night, they'd yet to receive any information about severance packages.

Persons: Elon Musk, —, Musk, they'd, Tesla, Drew Baglino, who'd, he'd, Rohan Patel, They're, Parag Agrawal, Ned Segal, Vijaya Gadde, Sean Edgett Organizations: Service, Business, CNBC, Worker, Twitter Locations: China

☆ Tesla asks shareholders to vote again on Musk's $56 billion payout
▼ + stars: | 2024-04-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Tesla said Wednesday it will ask shareholders to reinstate CEO Elon Musk's $56 billion pay package, which a Delaware judge voided earlier this year after ruling that the record-setting compensation deal was "deeply flawed." Tesla said the court decision created a "fundamental problem for the company." Tesla has not hired Innisfree since 2018, when it first asked shareholders to vote on Musk's pay package. Musk's pay package was invalidated after a shareholder won a lawsuit against the company earlier this year. The company also noted that "dozens of institutional stockholders" have told Tesla that they disagree with the Tornetta decision.

Persons: Elon Musk, Lola, Tesla, Elon Musk's, Musk, Innisfree, Musk's, Chancellor Kathaleen McCormick, Richard Tornetta, McCormick Organizations: Regency Bruin Theatre, Twitter, Board, Delaware Court Locations: Los Angeles , California, U.S, Delaware, Texas

☆ Tesla's design chief leads workouts in the company parking lot
▼ + stars: | 2024-02-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla's design chief, Franz von Holzhausen, conducts fitness sessions at the company's parking lot. Von Holzhausen leads a team of around 300 at a converted airplane hangar in Los Angeles. AdvertisementTesla's design chief Franz von Holzhausen isn't all work and no play — at least according to a new profile of the Cybertruck designer. Von Holzhausen, who has worked closely with Tesla CEO Elon Musk, likes to lead fitness training in the company parking lot, The Wall Street Journal reported on Friday. Though, von Holzhausen told the publication the billionaire is still "very involved" and sometimes shares design ideas from social media.

Persons: Franz von Holzhausen, Von Holzhausen, Elon Musk, —, Franz von Holzhausen isn't, von Holzhausen, Von Holzhausen didn't, Tesla, Walter Isaacson's, Musk, who've, Von Holzhausen's, Holzhausen, Jay Leno's Organizations: Service, Tesla, Street, Business, Volkswagen, General Motors, Mazda, Twitter, Apple, Jay Leno's YouTube Locations: Los Angeles

☆ Elon Musk attacked my article accusing him of gaming Twitter's algorithm for more attention. In some ways, it gave him exactly what he wanted.
▼ + stars: | 2024-02-15 | by ( Zoe Schiffer | ) www.businessinsider.com time to read: +9 min

Advertisement"Yes, Elon Musk created a special system for showing you all his tweets first," the Platformer headline read. "After his super bowl tweet did worse numbers than President Biden's, Twitter's CEO ordered major changes to the algorithm." In December 2022, a former Twitter employee had been sentenced to three years in prison for spying on behalf of Saudi Arabia. AdvertisementBy the end of the week, did anyone even remember there had been a Super Bowl? From EXTREMELY HARDCORE: Inside Elon Musk's Twitter, by Zoe Schiffer, published by Portfolio, an imprint of Penguin Publishing Group, a division of Penguin Random House, LLC.

Persons: —, Elon Musk, Rupert Murdoch, Elisabeth Murdoch, Musk, Biden, I'm, Jill Biden's, Jill Biden, Joe Biden, I'd, Elon, Zoe, Yang, Casey Newton, Biden's, Newton, who'd, Barack Obama, Twitter, Zoe Schiffer Organizations: Service, Farm, Super, News Corp, Kansas City Chiefs, Philadelphia Eagles, Business, Eagles, Twitter, Elon Musk, Google, Washington Post, Engineers, UPS, Elon, Penguin Publishing, Penguin Random Locations: Glendale , Arizona, Arizona, Oakland, Santa Barbara, Saudi Arabia

☆ It looks like Elon Musk is a bit envious of Mark Zuckerberg's control over Meta
▼ + stars: | 2024-01-19 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

Musk appeared to give Tesla's board an ultimatum on Monday, saying he wants 25% voting control at Tesla or he'll stop growing AI development at the electric-car maker. One way of getting that would be via a dual-class stock structure. This isn't uncommon and could mean Musk wouldn't necessarily get more shares but that the ones he held would deliver more voting power. The company's dual-class stock structure provides Zuckerberg and select executive managers and directors with them. "Zuckerberg probably wouldn't have gone public without a dual-class structure," White said.

Persons: —, Elon Musk, Mark Zuckerberg, Musk, he's, Tesla, Zuckerberg, It's, Chester Spatt, Joshua Tyler White, doesn't, White, Ofer Eldar, Michael Dell, Anat Alon, Beck, Erik Gordon, Sam Altman's, Gordon Organizations: Service, Meta, Tesla, Business, Carnegie Mellon University, SEC, Vanderbilt, SpaceX, The Boring Company, UC Berkeley, Western Reserve University, University of Michigan's Ross School of Business Locations: Delaware, OpenAI

☆ It sure looks like Elon Musk is deliberately destroying X
▼ + stars: | 2023-11-30 | by ( Jyoti Mann | Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Elon Musk seems to be trying to sabotage X by telling major advertisers "go fuck yourself." It gives weight to a theory that Musk may be deliberately trying to sink X, formerly Twitter. Those banks have since been trying to sell the debt — which looks increasingly worthless as Musk drives X into the ground. In the meantime, X and Musk must pay millions of dollars in interest to their financiers. "There is no way back, there is no way to reverse the statement Elon made yesterday," said Ruben Schreurs, chief strategy officer at the marketing consultancy Ebiquity, which works with major advertisers.

Persons: Elon Musk, Martin Sorrell, —, NBCUniversal, Musk, Linda Yaccarino, Linda, Jerod Harris, Matt Levine, Levine, Lou Paskalis, Musk's, Paskalis, BI's Grace Kay, Kali Hays, it's, Elon, Ruben Schreurs, Yaccarino, didn't Organizations: Service, The New York Times, Apple, Disney, IBM, Bloomberg, Bank of America, AJL, Musk's Twitter, Ebiquity, X

☆ Elon Musk screamed a profanity-laden jibe about Mark Zuckerberg when he signed the Twitter deal, author says
▼ + stars: | 2023-11-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk shouted a profanity-laden jibe when he signed the Twitter takeover deal, per a new book. AdvertisementAdvertisementElon Musk shouted a profanity-laden jibe when he signed the Twitter deal, according to the author of the new book titled "Breaking Twitter: Elon Musk and the Most Controversial Corporate Takeover in History." Ben Mezrich's book documents Musk's chaotic Twitter takeover and cites "unique access to Twitter employees and Musk's confidants." AdvertisementAdvertisementThe author, who also wrote "The Accidental Billionaires," said Musk "definitely sees" Zuckerberg as a rival but was a much more "dictatorial control person than Mark." Musk and Zuckerberg have also butted heads outside the ring since Musk's Twitter acquisition.

Persons: Elon Musk, Musk, Mark Zuckerberg, Ben Mezrich, Kara Swisher, —, Ben Mezrich's, Musk's, Mezrich, Zuckerberg Organizations: Twitter, Service, Elon

☆ The Israel-Hamas war shows how social media has given up on facts
▼ + stars: | 2023-10-18 | by ( Kali Hays | ) www.businessinsider.com time to read: +9 min

The Israel-Hamas war shows how social media platforms no longer want to deal with the news. AdvertisementAdvertisementNot too long ago, social media was the future of news. To accompany this flow of verified information, Facebook, Twitter and other social media companies built large content moderation teams and partnerships. Reading these, it's easy to see how social media can divide people during difficult times. The social media account posed as a BBC journalist to share this misinformation for engagement.

Persons: —, Jack Dorsey, Mark Zuckerberg, Elon Musk's, Adam Mosseri, Karan Singhal, Singhal, there's, Cristiano Ronaldo, Marcus Hutchins, Mosseri, we're, Andy Stone, Zuckerberg, Alex Stamos, TikTok Organizations: Service, Facebook, Twitter, Elon Musk's Twitter, CNBC, BBC, Palestinian, Meta Locations: Israel, Moroccan, Israeli, Syria, Meta, France, Germany, Canada

☆ Sam Bankman-Fried wanted to invest up to $1 billion in Elon Musk's Twitter despite other execs' advice, and didn't know if he still owned shares after the takeover
▼ + stars: | 2023-10-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Elon Musk asked SBF if he wanted to help his $44 billion Twitter takeover, per Michael Lewis' biography. Bankman-Fried owned around $100 million of Twitter stock before Musk took the company private. AdvertisementAdvertisementSam Bankman-Fried didn't know whether he still owned shares in Twitter as Elon Musk took over the platform last year, according to Michael Lewis' biography of the FTX founder. According to Lewis, Bankman-Fried suggested investing between $250 million and $1 billion in Twitter. Singh and Arora said that FTX shouldn't invest in Musk's Twitter, or only go with a small stake.

Persons: Elon Musk, Michael Lewis, Musk, —, Sam Bankman, Fried, Nishad Singh, Ramnik Arora, Lewis, Singh, who's, Arora, Morgan Stanley —, Semafor, SBF, FTX Organizations: Twitter, Service, Elon, Fried's

☆ Elon Musk says Twitter, now X, is moving to small monthly subscription and has 550 million users
▼ + stars: | 2023-09-18 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Among other things, Musk said the social network is "moving to having a small monthly payment for use of the X system" in order to combat "vast armies of bots. During the livestream, Musk also divulged some new metrics from X, claiming it now has 550 million "monthly users," who generate 100 million to 200 million posts per day there. However, Musk also used it to dispute the perception that his social network is full of hate speech and antisemitism. Before meeting with Netanyahu, Musk also accused George Soros's foundation of wanting to "destroy" western civilization. On Twitter, Musk has repeatedly disparaged trans people, federal regulators, politicians, journalists, whistleblowers, critics of his companies, and short sellers.

Persons: Elon Musk, Benjamin Netanyahu, Musk, Netanyahu, George Soros's, Tesla, Donald Trump, Marjorie Taylor Greene, Andrew Anglin Organizations: SpaceX, Tesla, Artificial Intelligence, Twitter, Israeli, Anti Defamation League, ADL, X Corp, Open Society, Nazi Locations: Washington ,, West, Jewish, Hungarian, American, U.S

☆ Elon Musk reportedly helped Larry Ellison reset his Twitter password after the billionaire said he'd invest $1 billion in the company, despite not tweeting in 10 years
▼ + stars: | 2023-09-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Elon Musk reportedly helped Larry Ellison reset his Twitter password, per an excerpt of Musk's upcoming biography. Oracle cofounder Ellison is an investor in X and a longtime friend of Musk's. AdvertisementAdvertisementElon Musk reportedly helped longtime friend and Oracle cofounder Larry Ellison reset his Twitter password after the billionaire forgot it. Ellison has been a vocal supporter of Musk over the years and has previously sat on the board of Tesla. Ellison reportedly supported Musk through various stages of his chaotic Twitter takeover.

Persons: Elon Musk, Larry Ellison, Walter Isaacson, Ellison, Musk's, Walter Isaacson –, Musk –, Ellison hasn't, Musk, Isaacson, Oracle, Insider's Kali Hays Organizations: Oracle, Morning, Wall, Twitter, Tesla

☆ Elon Musk's X is hit with 2,200 arbitration claims from former Twitter employees
▼ + stars: | 2023-08-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

X is facing more than 2,200 arbitration cases involving ex-employees, a new court filing said. Since Elon Musk's Twitter takeover, the company also has been hit with lawsuits from former staff. X could be on the hook for at least $3.5 million in fees for the arbitration cases, CNBC reported. AdvertisementAdvertisementElon Musk's social media company formerly known as Twitter has been hit with more than 2,200 arbitration cases from former employees, according to a recent court filing. X, formerly known as Twitter, was hit with lawsuits from former employees after Musk cut the company's workforce in half.

Persons: Elon, It's, Elon Musk, Twitter, Shannon Liss, Riordan, Chris Woodfield, X, Tesla Organizations: Twitter, CNBC, Morning, X Locations: —, Delaware

☆ X, formerly Twitter, faces 2,200 arbitration cases and filing fees over $3 million
▼ + stars: | 2023-08-28 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

In this photo illustration, the new Twitter logo rebranded as X (X Corp.) is seen on a smartphone and Elon Musk Twitter account with the new X logo on a pc screen. X, the social network formerly known as Twitter, is facing 2,200 arbitration cases that ex-employees filed after Elon Musk took over the company, slashed headcount, and made other sweeping changes there. The filing fees alone for that volume of cases could amount to $3.5 million. The case is Chris Woodfield v. Twitter, X Corp. and Elon Musk (No. Since JAMS decided that this basic fee applies across the board to X's 2,200 arbitration cases, that would amount to around $3.5 million, with other fees possibly to follow.

Persons: Elon Musk, Chris Woodfield, Woodfield Organizations: X Corp, Elon, Twitter, CNBC, Musk's X Corp, Northern District of Locations: Delaware, Seattle, San Francisco federal, Northern District, Northern District of California

☆ Chris Christie knocks Tucker Carlson when asked if he would go on his Twitter show: 'I go to places that have real ratings and real listeners'
▼ + stars: | 2023-08-10 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Chris Christie knocked Tucker Carlson when asked if he would appear on his new show. Christie said he prefers programs "that have real ratings and real listeners." Chris Christie said on Thursday that he's unlikely to appear on Tucker Carlson's new Twitter show anytime soon. "And so I go to places that have real ratings and real listeners like yours here. Hewitt said Levin is a respected voice among the conservative voters Christie would need to win the GOP presidential nomination.

Persons: Chris Christie, Tucker Carlson, Christie, Carlson, Tucker, I'm, Hugh Hewitt, Hewitt, Mark Levin's, Hugh, you'd, Mark Levin, Levin, there's, I've, Jimmy Fallon, David Letterman Organizations: Elon, Twitter, Service, Former New Jersey Gov, Fox News, Save, Obama White, New, MSNBC, CNN, Republican Locations: Wall, Silicon, New Jersey, America

☆ Threads posts receive more likes than on X for nearly 90% of brands despite them having fewer followers, an analysis says
▼ + stars: | 2023-08-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Despite Threads' struggle to keep users engaged, it seems to be faring better than Twitter for the brands. One Reuters post received 6.5-times more likes on Threads despite having over 99% less followers. The majority of brands are getting more engagement on Threads than X — the platform formerly known as Twitter — despite having less followers, according to an analysis from Website Planet. And all but four of the accounts, equivalent to 87%, saw more users interact with the Threads post despite having fewer followers on Meta's platform. It only had about 25% fewer likes on Threads while having 2% of the number of followers, according to Website Planet.

Persons: Mark Zuckerberg, Red Bull, McDonald's, Meta Organizations: Twitter, Reuters, Elon

☆ TweetDeck is turning into XPro, as Elon Musk's Twitter rebrand continues
▼ + stars: | 2023-08-03 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

It's Elon Musk's latest change to Twitter's famous lexicon as part of the platform's rebrand to X. Elon Musk's X, formerly known as Twitter, seems to be in the process of renaming its TweetDeck feature "XPro." It's the latest change in Musk's ongoing transition of Twitter to X that has upended the social media platform's hallmarks, such as its lexicon and logo. TweetDeck is still undergoing changes, but its new name, XPro, is starting to appear on the webpage. "If successful, X will enter the vernacular in ways that we don't yet know," Musk wrote on X Wednesday regarding the rebrand.

Persons: It's Elon, Elon Musk's, Musk, We'll, — Organizations: Twitter, San Locations: San Francisco

☆ Elon Musk has vision to make Twitter into 'an everything app' with X rebrand, says Rich Greenfield
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk has vision to make Twitter into 'an everything app' with X rebrand, says Rich GreenfieldRich Greenfield, LightShed Partners co-founder, joins 'Squawk Box' to discuss Elon Musk's Twitter rebrand, whether it's the right gamble financially, the state of Meta's Threads app, and more.

Persons: Elon, Rich Greenfield Rich Greenfield Organizations: Twitter, LightShed Partners, Elon

☆ Elon Musk is 'totally out of his element' at Twitter because he doesn't 'understand social media,' a Harvard leadership expert says
▼ + stars: | 2023-07-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

A Harvard leadership expert thinks Elon Musk is "totally out of his element" in running Twitter. He explained that the billionaire doesn't have any expertise of running a social media platform. A Harvard leadership expert weighed in on Elon Musk's takeover of Twitter and the changes he's made, saying that the billionaire is "totally out of his element" because social media is not his area of expertise. George suggested that Musk should let Twitter's new CEO Linda Yaccarino call the shots. William Klepper, a management professor teaching an executive leadership course at Columbia Business School, previously told Insider that Musk's Twitter takeover is "a case study of failed leadership."

Persons: Elon Musk, doesn't, Bill George, Elon, George, Musk, Parag Agrawal, Ned Sagal, Vijaya Gadde, Sean Edgett, Linda Yaccarino, William Klepper, Klepper Organizations: Harvard, Twitter, Harvard Business School, CNBC, SpaceX, Columbia Business School Locations: Elon Musk's

☆ Harvard expert: Elon Musk's Twitter rebrand shows he's 'out of his element' there—'I don't think he understands social media'
▼ + stars: | 2023-07-27 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Elon Musk's Twitter rebrand suggests that he's "totally out of his element," says Harvard leadership expert Bill George. Musk announced his decision to abandon the 16-year-old Twitter brand Sunday, opting for the new name and logo, X. George, who's studied effective leadership and leadership failures over the past two decades, says Musk's modifications to the platform are a "big mistake." In contrast, running a social media company may require a high level of interpersonal skills, which Musk's own brother says he lacks. "Now, that he has the [new] CEO of Twitter, he needs to let her restore what Twitter was, so [users and] advertisers come back," George says.

Persons: Elon, Bill George, George, Musk, Parag Agrawal, who's, —, Bloomberg —, Tesla, Berkshire Hathaway, Warren Buffett, George agrees, Linda Yaccarino Organizations: Twitter, Harvard, Harvard Business School, CNBC, Bloomberg, SpaceX, NASA, U.S ., Berkshire Locations: Elon Musk's

☆ Elon Musk's Twitter X rebrand is actually quite popular among users
▼ + stars: | 2023-07-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

When Elon Musk unveiled the X rebranding of Twitter earlier this week, howls of complaint echoed across the social-media platform. CivicScience conducted an online survey after the X announcement and got more than 5,000 responses, including over 1,000 responses from Twitter users. Results from a recent CivicScience survey CivicScienceThere's even some positive news regarding Threads, Meta's recently launched Twitter rival. There are roughly 250 million daily average users of Twitter, and CivicScience's poll got results from a few thousand people. 40% of daily Twitter users and a 51% of weekly users are not currently interested in using X with its expected new features, "so the move is likely to be disruptive," CivicScience reported.

Persons: Elon Musk, CivicScience, Meta's, Musk Organizations: Twitter, CivicScience, Morning

☆ Meta's stellar quarter shows Zuckerberg can both monetize and cut costs
▼ + stars: | 2023-07-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

But the company delivered on those lofty expectations with a quarter that was the best among the group so far. Taken together, the company has been able to significantly accelerate revenue growth. Coupled with rebounding operating margins, the stock is now more deserving of a so-called growth stock multiple instead of the "value" label investors had attached to the firm last year. But for now, Zuckerberg has a pass because, to his credit, Meta's cost structure has been reduced significantly this year. After buying back $9.22 billion worth of stock in the first quarter, Meta only repurchased $793 million in the second quarter.

Persons: Meta, Mark Zuckerberg's, Zuckerberg, Susan Li, It's, Elon, Jim Cramer's, Jim Cramer, Jim, Stefani Reynolds Organizations: Revenue, Meta, Facebook, Microsoft, Labs, Reality Labs, Twitter, repurchases, CNBC, AFP, Getty Locations: U.S, Canada, Washington ,

☆ Mark Zuckerberg says Meta will 'pour enough gasoline' on Threads to make it grow when it's ready for prime time
▼ + stars: | 2023-07-26 | by ( Alistair Barr | Kali Hays | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg sees an "awesome" and unexpected opportunity with Threads. After the record-breaking launch of Threads, the app has been losing ground in recent weeks. "We have a lot of basic work to do," Zuckerberg told analysts during Meta's second-quarter earnings conference call. There are some recent signs that Threads users and engagement are flagging a bit. Are you a Twitter or Meta employee, or someone else with insight to share?

Persons: Mark Zuckerberg, Zuckerberg, Elon Musk, Meta's, Musk, he's, We're, Kali Hays Organizations: Twitter, Meta, Facebook Locations: playbook, khays

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