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☆ After Twitter users voted to oust Elon Musk as CEO, he wants to change how polls work
▼ + stars: | 2022-12-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —When Elon Musk polled Twitter users about whether to reinstate former President Donald Trump’s account, he quickly followed through on the majority’s wish to do so. But since a clear majority of Twitter users voted for Musk to step down as Twitter CEO in another poll on Sunday, Musk has remained conspicuously (and uncharacteristically) silent. After one Twitter user said, “Blue subscribers should be the only ones that can vote in policy related polls,” Musk responded, “Good point. There is no successor.”CNBC reported Tuesday that Musk is “actively searching” for a new Twitter CEO, citing anonymous sources. The most obvious potential candidates for a new Twitter CEO are the Musk lieutenants who have been helping to run the company since his takeover.

☆ Main Street is buying stocks while Wall Street sells: What gives?
▼ + stars: | 2022-12-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But not all traders are on the same ride — the large, institutional investors on Wall Street have shuffled away from markets while Main Street’s retail investors are still strapped in. But despite this year’s lackluster market, investors bought $800 billion of Exchange Traded Funds which are baskets of stocks typically purchased by retail investors. However, Main Street is holding on to its stocks while Wall Street is running for the hills. One simple explanation is that institutional investors are responsible for vast amounts of money that belong to other people. “Respect, for retail investors, is in short supply,” wrote Azalea Micottis at Informa Financial Intelligence, in a recent note.

☆ Here’s who Elon Musk could pick to be Twitter’s next CEO
▼ + stars: | 2022-12-19 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

New York CNN —Elon Musk may soon be on the lookout for a new chief executive to run Twitter. There is no successor.”If Musk were to look for a new Twitter CEO, he’d likely have many willing takers. Jack Dorsey, Twitter founder, CEO of Block and friend to Musk, has previously said he would not return to run the social network. The most obvious potential candidates for a new Twitter CEO are the Musk lieutenants who have been helping to run the company since his takeover. Who is insane enough to run twitter?!?

☆ John Carmack: Virtual reality titan is leaving Meta
▼ + stars: | 2022-12-18 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Video game pioneer John Carmack is resigning from his consulting position at Meta with “mixed feelings” about the “end of his decade in VR,” he announced in a Facebook post Friday. Carmack stuck around through the company’s more than $10 billion investment into virtual reality technology. He was an early advocate for virtual reality, thought it was not uncommon for him to criticize Meta. Meta bought Oculus VR in 2014 for $2 billion, and now sells the Meta Quest 2 and Quest Pro headsets. “I think my influence at the margins has been positive, but it has never been a prime mover,” Carmack said.

☆ Former employees suing Twitter over layoffs score an early victory
▼ + stars: | 2022-12-15 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —A group of former employees suing Elon Musk’s Twitter scored an early win Wednesday when a judge ordered the company to inform any laid-off staffers of the pending lawsuit. The order may be an early indication that the judge could be sympathetic to the employees’ argument. He later pushed out additional employees, asking remaining workers to agree to an ultimatum to work “hardcore” or leave the company. The others include complaints related to alleged disability and gender-based discrimination, as well as a suit on behalf of Twitter contractors who were laid off. The employees are seeking unspecified monetary damages, as well as a ruling that Twitter violated the California and federal WARN Acts requiring advanced notice of mass layoffs.

☆ The real revelation from the ‘Twitter Files’: Content moderation is messy
▼ + stars: | 2022-12-14 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

The releases so far have focused on some of the social media company’s most high-profile, and controversial, content moderation decisions. The Twitter Files reports appear aimed at calling into question the integrity of Twitter’s former leadership and riling up the right-leaning user base that new owner Elon Musk has increasingly courted. But outside of Musk’s core base, reaction to the Twitter Files, which provide little new insight into the company’s policy and decision-making, has been largely muted. The “Twitter Files” threads appear to have been written “with a very clear agenda,” the former executive said. Still, the Twitter Files reports show just how many of the company’s employees and teams were involved in the deliberations over difficult content decisions.

☆ Elon Musk says a controversial new feature is coming to Twitter
▼ + stars: | 2022-12-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

Last month, Musk said Twitter’s “new” policy is “freedom of speech, not freedom of reach,” echoing an approach that is something of an industry standard. Musk on Friday shared Weiss’ thread in a tweet and added, “The Twitter Files, Part Duex! The release of internal documents from Twitter’s prior leadership comes as Musk attempts to reshape the platform in his image. But Musk has also said he doesn’t want Twitter to “become a free-for-all hellscape” and plans to moderate content in a way that appears largely consistent with Twitter’s prior policies. “Freedom of speech,” the blog post stated, “not freedom of reach.”

☆ Former employees suing Twitter speak out on Elon Musk’s ‘clumsy and inhumane’ layoffs
▼ + stars: | 2022-12-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —A group of former Twitter employees who are suing the company spoke out Thursday, alleging that new owner Elon Musk’s mass layoffs at the company have triggered multiple labor rights violations. The employees who spoke during the Thursday press conference are each plaintiffs in lawsuits filed by attorney Shannon Liss-Riordan against Twitter on behalf of former employees who were affected by Musk’s takeover of the company. The attorney said Thursday she has also filed three claims against Twitter with the National Labor Relations Board on behalf of former employees. The employees have rights here.”Weeks after the initial Twitter layoffs, hundreds more Twitter employees exited after Musk gave them an ultimatum to work “extremely hardcore” or leave the company. “Of all the issues Elon Musk is facing right now, this feels like the easiest one to fix … treat your workers with respect,” Liss-Riordan said.

☆ Indiana Attorney General files lawsuits against TikTok
▼ + stars: | 2022-12-07 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN Business —Indiana Attorney General Todd Rokita on Wednesday announced he has filed two separate lawsuits against TikTok, which accuse the company of making false claims about the safety of user data, and age-appropriate content. “The TikTok app is a malicious and menacing threat unleashed on unsuspecting Indiana consumers by a Chinese company that knows full well the harms it inflicts on users,” Rokita said in a statement. “With this pair of lawsuits, we hope to force TikTok to stop its false, deceptive, and misleading practices, which violate Indiana law.”The lawsuits mark the most serious action taken yet by a state against TikTok, amid increasing attention to and concern about TikTok from state and federal officials in recent months. TikTok does not comment on pending litigation, but said, “the safety, privacy and security of our community is our top priority,” according to a statement from a company spokesperson. And there has been renewed criticism of TikTok this year, stemming from a Buzzfeed News report in June that said some US user data has been repeatedly accessed from China.

☆ Facebook Oversight Board recommends overhaul of controversial content moderation process for VIPs
▼ + stars: | 2022-12-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN Business —After a yearlong review, Meta’s Oversight Board on Tuesday said the company’s controversial system that applies a different content moderation process for posts from VIPs is set up to “satisfy business concerns” and risks doing harm to everyday users. The company in response requested that the Oversight Board review the cross-check system. Meta says that the program helps address “false negatives” where content is removed despite not breaking any of its rules for key users. As part of a wide-ranging advisory for restructuring cross-check, the Oversight Board raised concerns that by delaying removal of potentially violative content by cross-check users pending additional review, the company could be allowing the content to cause harm. For the sake of transparency, “Meta should measure, audit, and publish key metrics around its cross-check program so it can tell whether the program is working effectively,” the board said.

☆ Salesforce Co-CEO Bret Taylor steps down, leaving Marc Benioff alone at the top
▼ + stars: | 2022-11-30 | by ( Clare Duffy | ) edition.cnn.com time to read: 1 min

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☆ Elon Musk claims Apple has ‘threatened to withhold’ Twitter from its app store
▼ + stars: | 2022-11-28 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN Business —Elon Musk on Monday claimed that Apple has “threatened” to pull Twitter from its iOS app store, a move that could be devastating to the company Musk just acquired for $44 billion. He also criticized Apple’s size, claimed it engages in “censorship,” and called out the 30% transaction fee Apple charges large app developers to be listed in its app store. Parler was returned to Apple’s app store three months later after updating its content moderation practices. “If you’re looking to shock and offend people, the App Store isn’t the right place for your app,” the guidelines state. Roth said the company’s failure to adhere to Google and Apple’s app store rules could be “catastrophic.”And last weekend, the head of Apple’s app store, Phil Schiller, deleted his Twitter account.

CNN Business —Elon Musk said Thursday that he will begin restoring most previously banned accounts on Twitter starting next week, in his most wide-reaching move yet to undo the social media platform’s policy of permanently suspending users who repeatedly violated its rules. It is not immediately clear how Musk and his team at Twitter will sort out which accounts had been banned for illegal or spam content versus other violations, nor how many total accounts will be restored. Musk has also restored the accounts of several other controversial, previously banned or suspended users, including conservative Canadian podcaster Jordan Peterson, right-leaning satire website Babylon Bee, comedian Kathy Griffin and Rep. Marjorie Taylor Greene. Shortly after acquiring Twitter, Musk said he would create a “content moderation council” with “widely diverse viewpoints,” and that no major content decisions would be made until it was in place. Musk has said the departure of key Twitter advertisers in recent weeks has led to a “massive drop in revenue” for the company.

☆ Elon Musk has upended Twitter’s business. Here’s how he could fix it
▼ + stars: | 2022-11-22 | by ( Clare Duffy | ) edition.cnn.com time to read: +9 min

The Tesla CEO has previously said he “hates advertising” and, as Twitter’s owner, professed a desire to make the company more reliant on subscription revenue than advertising dollars. Twitter has always struggled to turn its outsized influence in media, politics, and culture into a highly successful advertising business. Twitter’s advertising business has long been smaller than that of rivals like Facebook, in part because it didn’t offer the same level of user targeting. To successfully overhaul Twitter into a thriving subscription business would be to buck the trend of many other media properties that have struggled with the model. Twitter’s ad woesWhether he likes advertising or not, the business made up 90% of Twitter’s revenue prior to Musk’s takeover and replacing it won’t be an immediate shift.

CNN —Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s users if Trump should be reinstated. Asked on Saturday what he thought of Musk purchasing Twitter and his own future on the platform, Trump praised Musk but questioned whether the site would survive its current crises. It may make it, it may not make it.”Still, Trump said he liked Musk and “liked that he bought (Twitter. Soon after Trump’s Twitter ban, he was also restricted from Meta’s Facebook and Instagram, which could also restore his accounts as soon as January 2023.

☆ Controversial, banned Twitter accounts Jordan Peterson and Babylon Bee to be reinstated, Musk says
▼ + stars: | 2022-11-18 | by ( Clare Duffy | ) edition.cnn.com time to read: 1 min

☆ As Twitter staff empties out, users fear the worst for platform
▼ + stars: | 2022-11-18 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN Business —On Thursday night, following another exodus of Twitter employees, the outage detection site Down Detector showed a spike in users reporting issues accessing the social media platform. A chart of the sharp increase in outage reports was shared by some users on Twitter, appearing to validate a growing fear that the site would struggle to stay online with fewer staff. After new owner Elon Musk demanded that Twitter employees agree to work “extremely hardcore” or leave the company by 5 p.m. This week’s departures came after Musk had already laid off around 3,700 Twitter employees, or about half the staff, earlier this month. Multiple Twitter users suggested that any followers who have a secret crush on them come forward in case the platform goes down for good.

Two current Twitter employees told CNN on Thursday that they plan to reject the ultimatum, citing a toxic work environment they say the billionaire has introduced. Musk told employees his goal is to build “Twitter 2.0” and that employees who choose to stay will be required to commit to working “long hours at high intensity” and presumably agreeing to Musk’s demand for Twitter employees, who have been largely working remotely, to return to in-office work. Another Twitter employee, who asked not to be quoted, shared similar concerns and said they planned to also exit the company. “People can’t overlook the public mockery and firing of other employees,” the former employee told CNN. Employees working in the United States from other countries could also risk losing their work visas if they leave the company.

The public termination came after Frohnhoefer tweeted evidence suggesting that Musk was “wrong” about his claims that Twitter was running, in the billionaire’s words, “super slow” in various countries. Sources have indicated to CNN that employees in recent days had been very candid in criticism of Musk in the company’s Slack. (CNN has attempted to contact fired employees to confirm.) In addition to the public pushback from employees, some Twitter staff appear to have tried to appeal to Musk and his inner circle privately as they weigh numerous disruptive changes to the platform. The paid subscription service was suspended on Friday with little warning.

☆ This company wants to make air travel sustainable
▼ + stars: | 2022-11-10 | by ( Clare Duffy Cnn Business Video John General | Clare Duffy | ) edition.cnn.com time to read: +5 min

Already, some of the world’s biggest airlines are signing on to Air Company’s vision. Jet Blue Ventures, the airline’s investment arm, also invested directly in Air Company’s $30 million Series A funding round earlier this year. Air Company's carbon-neutral, CO2-derived fuel was successfully used in August 2022 during a test flight in partnership with the US Air Force. Air Company“How we think about what the company does is trying to solve humanity’s toughest problems,” Gregory Constantine, co-founder and CEO of Air Company, told CNN in an interview last month. But Air Company’s production process starts by pulling harmful carbon emissions out of the air.

☆ Elon Musk sold nearly $4 billion worth of Tesla stock since Twitter deal closed
▼ + stars: | 2022-11-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —Elon Musk sold $3.95 billion worth of Tesla stock since completing his purchase of Twitter late last month. Musk’s Tesla stock sales, totaling 19.5 million shares, have been widely anticipated ever since the Tesla CEO reached a deal to buy Twitter for $44 billion. Musk had sold blocks of Tesla shares worth a total of $15.4 billion earlier this year since his deal to buy Twitter was announced. Musk received an average price of $202.52 for the Tesla shares he sold since the Twitter deal closed, which is down 10% just since he closed on his deal to buy Twitter. Before his interest in Twitter, Musk rarely sold shares of Tesla stock, primarily selling shares necessary to pay taxes when exercising stock options.

CNN —Elon Musk said Friday that Twitter has seen a “massive drop in revenue,” as a growing number of advertisers pause spending on the platform in the wake of his $44 billion acquisition. On Friday, organizations including the Anti-Defamation League, Free Press and GLAAD, upped their pressure campaign for more brands to rethink advertising on Twitter. Musk, known as both an innovative entrepreneur and an erratic figure, has promised to rethink Twitter’s content moderation policies and undo permanent bans of controversial figures, including former President Donald Trump. Most marketers bristle at the thought of having their ads run alongside toxic content such as hate speech, pornography or misinformation. Ad buying giant Interpublic Group, which works with consumer brands such as Unilever and Coca Cola, earlier this week also recommended its clients pause advertising on the platform.

☆ Elon Musk wants Twitter users to pay to be verified. It could create a new set of headaches for the company
▼ + stars: | 2022-11-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

The check indicated that Twitter had verified the accounts of artists, athletes, government officials and agencies and other public figures. Musk confirmed this week he’s working to launch an updated version of the company’s Twitter Blue subscription service in which any user can pay $8 per month to get or remain verified. But the move could disincentivize certain prominent accounts from being verified, making it harder for users to determine which are authentic. And many regular Twitter users who aren’t worried about being impersonated and don’t care about Twitter “clout” may also simply not care to shell out for a blue check. “I actually told him … that I think that $8 a month is highly problematic.”The proposed subscription update has been panned by several high-profile Twitter users, including author Stephen King and Rep. Alexandria Ocasio Cortez.

☆ Twitter’s C-suite clears out as Musk cements power over the company
▼ + stars: | 2022-11-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

In less than a week since Musk acquired Twitter, the company’s C-suite appears to have almost entirely cleared out, through a mix of firings and resignations. Musk has also dissolved Twitter’s former board of directors. At the same time, Musk is also running several other companies, including as CEO of Tesla and SpaceX. Musk immediately fired four of Twitter’s top executives — CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Policy Head Vijaya Gadde. It’s unclear whether VP of Operations Lindsey Iannucci, the other two members of Twitter’s top leadership team, will remain with the company.

☆ Elon Musk hints that Donald Trump will not be back on Twitter before the midterms
▼ + stars: | 2022-11-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN Business —Elon Musk indicated on Wednesday that the Twitter account of former President Donald Trump will not be restored ahead of the US midterm elections next week, answering one of the biggest unknowns following his takeover of the social media company. Prior to acquiring Twitter last week, Musk had pledged to roll back at least some of platform’s content moderation policies and do away with permanent account bans. He had also specifically said he would restore the personal account of Trump, who was banned from the platform shortly after the Jan. 6 insurrection at the US Capitol. Trump, who previously used Twitter to make news, attack critics and set the agenda in DC, has said he is glad Twitter is now in “sane hands” following the Musk takeover but claimed he would not be returning to the platform. Trump had tens of millions more followers on Twitter than he does on Truth Social.

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