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Media exec Jason Kilar predicts only 3 entertainment companies will survive the streaming war. In a piece for The Wall Street Journal, Kilar predicted that only three of the global entertainment companies, not including tech giants Amazon and Apple, will come out of the "streaming war" unscathed. But based on Kilar's threshold, Disney is well-positioned to survive, with 235 million global subscribers across its services, 164 million of which belong to Disney+. Kilar added that "two or three major mergers and/or acquisitions" in the entertainment industry would occur in the next two years because of shifts in the streaming space. Former Disney CEO Bob Chapek, who was ousted last month, hinted in September that he'd want to integrate Hulu into Disney+ once the deal is complete, though it's unclear what returning CEO Bob Iger's plans are.
The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.
“I wasn’t even trying, like, I wasn’t spending any time or effort trying to manage risk on FTX,” Mr. Bankman-Fried said in an interview with George Stephanopoulos of ABC News that was broadcast Thursday on “Good Morning America.”“I don’t know what to say,” he said. A lawyer for Mr. Bankman-Fried didn’t respond to a request for comment. Risk issues weren’t seen as a “core business driver” at FTX, Mr. Bankman-Fried said in Thursday’s interview, adding that he did a “pretty incomplete job” at oversight. Mr. Stephanopoulos questioned Mr. Bankman-Fried about speculation that he might ultimately spend time in prison in connection with the problems at FTX and Alameda. Mr. Bankman-Fried said that a lot of things worry him right now, but that he would let regulatory and legal processes play out.
Following the FTX collapse, the founder and former CEO exchanged wild DMs with a Vox reporter. The Twitter direct messages were published by Vox on November 16, days after his cryptocurrency exchange, FTX, collapsed. It was a longtime friend of mine who I stupidly forgot was also a reporter," Bankman-Fried said, adding: "I'm not sure what they thought the capacity was at the time, but it certainly ended up being reported on." During the exchange, Piper also mentioned the conversation the two had over the summer. In a lengthy Twitter thread published shortly after the DMs came out, Bankman-Fried also referred to the Piper as his "friend."
Sam Bankman-Fried says he 'didn't ever try to commit fraud'
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +4 min
"I didn't ever try to commit fraud," Bankman-Fried said in the hour-long interview, adding that he doesn't personally think he has any criminal liability. The liquidity crunch at FTX came after Bankman-Fried secretly moved $10 billion of FTX customer funds to Alameda Research, Reuters reported, citing two people familiar with the matter. At least $1 billion in customer funds had vanished, the people said. Bankman-Fried told Reuters in November the company did not "secretly transfer" but rather misread its "confusing internal labeling." Bankman-Fried said he was speaking from the Bahamas and that the interview was against the advice of his lawyers.
"I've had a bad month," Bankman-Fried added later. Sorkin asked Bankman-Fried what motivated his acquisitions in the crypto industry, given the size of Alameda's borrowing from companies Bankman-Fried intended to acquire. Bankman-Fried claimed that he believed that by the middle of 2022, Alameda had repaid all lines of credit to various borrowing desks. Sorkin asked Bankman-Fried why FTX and Bankman-Fried even had access to customer money. By 2022, Bankman-Fried claimed, that number was down to 2%, which led him to believe that FTX's exposure was lessened.
Twitter staff are skeptical about Elon Musk's plans to reinstate banned accounts, Platformer reported. Twitter is working to reinstate 75 with more than 1 million followers, Platformer reported. But staff at Twitter say the plans could cause them a big headache. Twitter staff are working to reinstate tens of thousands of suspended accounts, Platformer reported. This includes around 62,000 accounts with more than 10,000 followers, one of which has more than 5 million followers and 75 of which have more than 1 million followers, the outlet reported.
Elon Musk's Twitter account displayed on a mobile with Elon Musk in the background are seen in this illustration. Twitter CEO Elon Musk has been a vocal critic of how health officials reacted to the coronavirus pandemic. Musk has committed to free speech on Twitter, which might partially explain why the change was enacted. The change comes as technology newsletter Platformer says employees are scrambling to restore more than 62,000 suspended accounts. That figure could include some of the more than 11,000 accounts that were suspended for violating the company's Covid-19 misinformation rules.
Elon Musk has made headlines for his recent tweets, which include posts about guns and Apple. Critics say the Twitter CEO's use of the platform could further endanger the struggling company. There's also been discord at SpaceX, the rocket company Musk operates. In a story for New York Magazine, Kevin Dugan wrote that Musk is unlikely to change his ways anytime soon. "It's now been a week since Elon Musk has taken over Twitter, and one thing that's clear about his reign is that he will never, ever touch grass."
Idealab and Heliogen Founder Bill Gross speaks onstage during Vox Media's 2022 Code Conference on September 08, 2022 in Beverly Hills, California. "Because I was reading Popular Science magazine, I saw people used to take out little ads in the back," Gross told CNBC. One limiting factor for solar energy is its intermittency, which means it only delivers power when the sun is shining. But we're delivering the energy continuously because the energy is coming out of the rock bed," Gross told CNBC. The price of fossil fuels after Russia invaded Ukraine is a game changer," Gross told CNBC.
CNN —Sunday officially marks one month since the world’s richest man took the helm at Twitter. After spending months embroiled in an unsuccessful legal battle to get out of his initial proposal to buy Twitter, Musk made his first splashy entrance into the company’s offices on Oct. 26, carrying a sink. (In a video of the incident shared on Twitter, he wrote: “Entering Twitter HQ – let that sink in!) In another dramatic move by the new boss, Musk publicly fired a software engineer who had survived the initial round of cuts, but who then questioned Musk on Twitter. Musk goes onto to grant ‘amnesty’ to most previously banned accountsAfter conducting yet another Twitter poll, Musk said on Nov. 24 that he will begin restoring most previously banned accounts on Twitter starting next week.
Over a dozen current and former employees told Insider's Eugene Kim that the division is in crisis — and the mounting losses and massive cuts underscore the swift downfall of Alexa. Go inside Amazon's Alexa unit. Jerod Harris/Getty ImagesWalt Disney stunned Hollywood this week by reinstating Bob Iger as its chief executive, and company insiders told us that his return to the throne came together in a matter of days. Getty ImagesTwitter's remaining employees are now expected to keep its CEO Elon Musk up to date on everything they work on each week. Responding to a tweet citing correspondent Kali Hays' report on the leaked email, Musk said the decision was "not unreasonable."
But Bezos, whose recent announcement followed years of criticism over his relative lack of philanthropic giving, isn't the only billionaire who hasn't signed the pledge. Arnault has not signed the Giving Pledge, nor has he commented on the pledge publicly. Jeff Bezos: $116 billion net worthBezos has donated more than $2.4 billion in his lifetime, according to a Forbes estimate. But the billionaire has skirted questions about the Giving Pledge for years, especially after his ex-wife, Scott, signed it shortly after their 2019 divorce. Sergey Brin: $84.9 billion net worthLike fellow Google co-founder Page, Sergey Brin has not signed the Giving Pledge.
LONDON — Elon Musk said Friday that Twitter plans to relaunch its premium service that will offer different colored check marks to accounts next week, in a fresh move to revamp the service after a previous attempt backfired. Twitter previously suspended the premium service, which under Musk granted blue-check labels to anyone paying $8 a month, because of a wave of imposter accounts. Originally, the blue check was given to government entities, corporations, celebrities and journalists verified by the platform to prevent impersonation. In the latest version, companies will get a gold check, governments will get a gray check, and individuals who pay for the service, whether or not they’re celebrities, will get a blue check, Musk said Friday. It’s also likely to put the company on a crash course with European regulators seeking to clamp down on harmful online content with tough new rules.
Since Elon Musk took over Twitter, it has reinstated several high-profile accounts, including those belonging to former President Donald Trump and rapper Kanye West. Elon Musk said he would reinstate suspended accounts on Twitter Inc.’s social-media platform, bringing back users that previously had been banned for posting hate speech, inciting violence or engaging in other behavior that violated its policies. Mr. Musk said Thursday the amnesty would begin next week, provided the accounts haven’t “broken the law or engaged in egregious spam.” He made the decision after polling users on the platform. “Vox Populi, Vox Dei,” he tweeted, a Latin phrase meaning the voice of the people is the voice of God.
On Thursday, Twitter owner Elon Musk said he will reinstate nearly all banned accounts. The move comes after Musk conducted a poll on Twitter that garnered more than 3 million votes. On Thursday, Musk tweeted that he would grant "amnesty" to all suspended Twitter accounts that haven't broken the law or "engaged in egregious spam." The move comes as Musk continues to loosen the platform's grip on enforcement around posts with hate speech since buying Twitter for $44 billion last month. Before taking control of the social media company, Musk criticized the platform for "failing to adhere to free speech principles."
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's Twitter account displayed on a mobile with Elon Musk in the background are seen in this illustration. New Twitter owner Elon Musk said Thursday that he is granting "amnesty" for suspended accounts, which online safety experts predict will spur a rise in harassment, hate speech and misinformation. In the month since Musk took over Twitter, groups that monitor the platform for racist, anti-Semitic and other toxic speech say it's been on the rise on the world's de facto public square. On Oct. 28, the day after he took control, Musk tweeted that no suspended accounts would be reinstated until Twitter formed a "content moderation council" with diverse viewpoints that would consider the cases. A report from the European Union published Thursday said Twitter took longer to review hateful content and removed less of it this year compared with 2021.
Musk tweeted Wednesday FTX would still be ok if SBF was as good at leadership as at 'bribing media'. He was responding to a tweet which questioned whether SBF will continue to fund certain media outlets. Musk has been hitting out at the media after reports surfaced SBF may still own a stake in Twitter — which Musk robustly denied. He seemed to be referring to FTX investing in media outlets during the three years that Bankman-Fried, or SBF, was CEO. SBF/FTX do not own shares in Twitter," Musk tweeted Wednesday.
Sam Bankman-Fried used to spend thousands of dollars on staff lunches, Fox Business reported. But FTX workers never returned for happy hour, a bartender told Fox Business. Cocoplum staff told Fox Business that the restaurant was one of several that delivered lunch to the FTX HQ on a regular basis for a cost of about $10,000 a day. Despite telling Bloomberg in April that he didn't want a yacht, Fox Business reported that Bankman-Fried owned a 52-foot yacht worth millions of dollars. Bankman-Fried declined to answer Fox Business when asked if he used client assets to fund his purchases.
Crypto products and funds saw inflows of $44 million, as of the week ended Nov. 18, but 75% of those flows represented investments in short crypto products, data showed. The total assets under management have plunged to $22 billion, the lowest in two years, CoinShares said. FTX filed for bankruptcy protection in the United States more than a week ago in the highest-profile crypto implosion to date. CoinShares data also showed that bitcoin posted inflows of $14 million, but when offset by inflows into short investment products, the net flows were a negative $4.3 million. Investors poured in record inflows to short-Ethereum products of $14 million.
Hackers who stole around $477 million worth of cryptocurrency from collapsed exchange FTX have started to launder the funds into bitcoin . Blockchain analytics company Elliptic estimates that around $477 million worth of cryptocurrency had been stolen from FTX. The theft adds insult to injury to FTX, a once $32 billion crypto empire who collapse has sent shockwaves across the industry. Crypto compliance software company Chainalysis in a tweet on Sunday also confirmed that hackers are moving funds. The implosion of FTX has left Bankman-Fried a paper pauper and investors left unable to access their crypto assets.
Elon Musk said he won't restore conspiracy theorist radio host Alex Jones' Twitter account. Musk recently reinstated formerly banned accounts like Donald Trump, Kanye West, and Andrew Tate. The billionaire CEO of Twitter responded to a tweet by American philosopher Sam Harris on Saturday, who asked: "Is it time to let Alex Jones back on Twitter, Elon Musk? Musk had already said "No" on Friday to one user who had tweeted "Bring back Alex Jones!!!!" Musk reinstated Trump's account on Saturday after polling followers about whether he should be allowed to return to the platform.
Sam Bankman-Fried's mother, a Stanford law professor, once wrote an article titled "Beyond Blame." Barbara Fried asked what would happen if the focus was on fixing problems and not assigning blame. Her son Sam Bankman-Fried co-founded FTX, which last week filed for bankruptcy. She has written pieces for the Boston Review, a quarterly political and literary magazine, arguing that attributing "personal blame" in times of crisis had "ruined criminal justice and economic policy," suggesting it was "time to move past blame." "The next time something goes terribly wrong, suppose that instead of immediately asking who is to blame, we were to ask: How can we fix this problem?"
Donald Trump has said that he sees no reason to rejoin Twitter, Reuters reported. Elon Musk reinstated the former president's account on Saturday night following a Twitter poll. Trump's Twitter account had more than 88 million followers before he was banned on January 8, 2021. Addressing if he'd be rejoining Twitter, Trump said: "I don't see any reason for it. Musk previously told a Financial Times conference, "I do think it was not correct to ban Donald Trump," adding, "I think that was a mistake.
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