DIRS.INFO The most relevant business & tech news

☆ Elon Musk persuaded Twitter's top sales executive to stay after she and other senior leaders quit, report says
▼ + stars: | 2022-11-11 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk persuaded a top Twitter executive to stay after she resigned, Bloomberg reported. Reports said Robin Wheeler had quit, but she tweeted later on Thursday "I'm still here." Robin Wheeler, Twitter's head of advertising sales, on Wednesday moderated a Q&A with Musk called "Advertising & the Future." The following day, The New York Times reported Wheeler had left Twitter. After Twitter's chief information security officer, chief privacy officer and chief compliance officer quit, the Federal Trade Commission said in a statement to the Washington Post it was "tracking the developments at Twitter with deep concern."

Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty have also resigned, according to an internal message seen by Reuters. He announced plans to cut half its workforce last week, promised to stop fake accounts and is charging $8 a month for the Twitter Blue service that will include a blue check verification. "We are tracking recent developments at Twitter with deep concern," Douglas Farrar, the FTC's director of public affairs, told Reuters. "Elon puts rockets into space, he's not afraid of the FTC," the attorney quoted Spiro as saying. Twitter did not respond to a request for comment on the FTC warning, the note from the attorney or the departures.

☆ Twitter information security chief Kissner to leave
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - Twitter Inc's information security chief Lea Kissner is leaving the company, Kissner said in a tweet on Thursday. loadingKissner joined Twitter last year as head of privacy engineering and was made the chief information security officer in January. He then moved quickly to push out some top executives including Chief Executive Parag Agrawal and announced layoffs affecting about half of Twitter's workforce. Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty have also put down their papers, the Verge reported earlier on Thursday, citing sources and messages on Twitter's internal channels. Reporting by Yuvraj Malik in Bengaluru; Editing by Arun Koyyur and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on 08 November, 2022. "We are tracking recent developments at Twitter with deep concern," an FTC spokesperson said in a statement. Since then, other executives have announced their departures, including most recently Chief Information Security Officer Lea Kissner. According to internal communications obtained by CNBC, three execs involved in information security, privacy and compliance all resigned in recent days, including Kissner. Under that order, Twitter agreed to install an enhanced privacy program and information security program with specific requirements.

☆ Twitter’s cybersecurity chief quits amid company turmoil
▼ + stars: | 2022-11-10 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

“I’ve made the hard decision to leave Twitter,” Kissner tweeted. Their resignation was the latest example of the internal turmoil that has rocked Twitter following mass layoffs at the company. It could even put Twitter’s own employees in legal jeopardy, the message suggested, after the employee claimed Musk was unconcerned about Twitter’s potential liability before the FTC. The message outlined plans at Twitter to devolve FTC compliance responsibilities to the individual workers remaining at the company. “This will put huge amount of personal, professional and legal risk onto engineers,” the message warned, according to The Verge.

☆ Musk reportedly considers locking all of Twitter behind a paywall
▼ + stars: | 2022-11-08 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Elon Musk, the new owner of Twitter, has considered putting the entire platform behind a paywall, according to a report from Platformer. But, it shows how Musk is exploring ways to generate new revenue from the platform he acquired for $44 billion. A platform-wide paywall marks Musk's latest musings about how to generate revenue for Twitter. In a thread of tweets, Musk said he will give "power to the people" by offering verification through Twitter Blue for $8 a month. Twitter began rolling out changes to its platform for some users on Saturday in preparation for the launch of its revamped Twitter Blue service, but reportedly plans to delay the launch the until after Tuesday's midterm elections.

☆ Barry Diller says Twitter is a toy for Elon Musk
▼ + stars: | 2022-11-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Barry Diller, chairman of IAC and Expedia, told CNBC's "Squawk Box" Monday that Twitter, which he said is a toy for Elon Musk, will "much smaller business" under its new owner. Diller said he believes Musk is "quixotic" but "very rational," and he thinks Musk will stick by the company. Diller said he thinks Musk will figure out how to improve Twitter and make it more appealing, but he's not convinced that it will become the next super-app. Twitter laid off approximately half of its employees days later. Since closing the $44 billion deal, Musk has laid out a series of ideas for a new user verification process for Twitter through its subscription service Twitter Blue.

☆ Billionaire IAC chairman Barry Diller says Elon Musk bought Twitter as a toy: 'How long he will use it, like toys, we don't really know'
▼ + stars: | 2022-11-07 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Billionaire IAC chairman Barry Diller has mixed feelings about Elon Musk's Twitter acquisition. On CNBC's Squawk Box, Diller said Musk "bought a toy, and how long he will use it, like toys, we don't really know." "You've got this extraordinarily wealthy person, and he bought a toy," Diller said. "He bought a toy, and how long he will use it, like toys, we don't really know, but he's not going to walk away, I don't think." By headcount, however, Twitter is already much smaller in the days since Musk bought it.

☆ Who would want to join Twitter now? It's still hiring for more than 90 roles despite cutting thousands of jobs
▼ + stars: | 2022-11-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Twitter is still hiring to fill more than 90 roles despite laying off half of its workforce. Seven roles were posted on LinkedIn's jobs section a few days before Elon Musk took over Twitter. Seven roles were first advertised by Twitter a fortnight ago on LinkedIn, all of which are based in London. The Tesla founder took control over Twitter last week after his $44 billion deal to buy the platform was completed. Some Twitter staff have disputed that claim.

☆ Elon Musk ruthlessly fired Twitter CEO Parag Agrawal. He's the latest in a long line of Silicon Valley giants to face Musk's wrath, from Jeff Bezos to Mark Zuckerberg.
▼ + stars: | 2022-11-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Parag AgrawalKevin Dietsch/Getty ImagesMusk and Twitter CEO Parag Agrawal met for a meal in March. But eight months later, Musk took ownership of Twitter and one of his first moves was firing Agrawal and a number of other top execs. Musk had been set to join Twitter's board in the spring after becoming the company's biggest shareholder. Agrawal understandably didn't like the tweet and told Musk that "it's not helping me make Twitter better in the current context." Within days of Musk terminating the deal, Twitter sued him to force him to complete the deal, accusing him of "refusing to honor his obligations."

☆ Twitter co-founder Dorsey apologizes for growing the company 'too quickly' in wake of mass layoffs
▼ + stars: | 2022-11-05 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Twitter co-founder Jack Dorsey apologized Saturday for growing the company "too quickly," a day after the company laid off approximately half of its employees under new owner Elon Musk. They will always find a way no matter how difficult the moment," Dorsey wrote in a tweet. Twitter's reduction in force extended beyond California, and CNBC could not immediately confirm whether Musk's description is accurate. Dorsey stepped down as Twitter's CEO last year and has since shifted his focus to solely managing his payments company Block, formerly known as Square.

Elon Musk seems determined to remake Twitter in his own image — with some help from the men in his trusted inner circle. They are joined in Musk’s orbit by Alex Spiro, a trial attorney with a roster of celebrity clients who reportedly led the first round of Twitter layoffs. Bloomberg reported Wednesday night that Twitter is preparing to eliminate about 3,700 jobs, or roughly half its workforce. Musk's personnel decisions suggest a possible road map for the future of Twitter, one in which policies and internal rules are drawn at least in part from the views of Musk’s consiglieres. Sacks, Calacanis, Spiro and Birchall did not immediately respond to questions about the company’s future and the nature of their roles there.

Twitter will lay off staff Friday, the social media giant said in an email obtained by NBC News. In the email, sent Thursday evening, Twitter said it would notify staff by email starting Friday morning about their employment. One Twitter employee said Thursday's email was the first communication staff had received from Twitter since the acquisition Oct. 27. "It's total chaos, house melting down, everyone looking towards this email," the employee told NBC News. "At the end of this nightmare, I better get a cash prize," one Twitter employee told NBC News.

Elon Musk is shaking up Twitter. From the blunt email to Twitter employees about layoffs to angry advertisers, a lot is happening. Insider has exclusive insights from employees, advertisers and others about working with Musk. And this kind of chaos is only the beginning, warns one former SpaceX VP who says Elon Musk can be 'vicious' in the workplace. Rebecca Blackwell/AP PhotoAdvertisers are nervously pausing their spendMusk has been wooing advertisers, his major Twitter customers, but they are wary.

☆ Elon Musk can be 'vicious' in the workplace, a former SpaceX VP says
▼ + stars: | 2022-11-04 | by ( Grace Dean | Kiera Fields | ) www.businessinsider.com time to read: +3 min

A former SpaceX VP says Elon Musk can be "vicious" in the workplace. Jim Cantrell told Insider staff never knew whether there were getting "good Elon" or "bad Elon." He added Musk could change Twitter's business performance "from sheer force of willpower." Musk added Twitter to his portfolio in late October, acquiring the social-media platform for $44 billion. One workplace-culture expert previously told Insider that Musk's "autocratic leadership" would be in "great contrast with the type of openness and flexible mindset that is integral to Twitter's culture."

☆ Premarket stocks: Interest rates will keep rising. How high will they go?
▼ + stars: | 2022-11-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: No one can move markets like Federal Reserve Chair Jerome Powell — with just a few words on Wednesday he crushed investors’ hopes of an interest rate pivot and sent stocks plunging. “Our decisions will depend on the totality of incoming data and their implications for the outlook for economic activity and inflation,” Powell said on Wednesday. The United Kingdom will face hard economic times and elevated interest rates well into next year, officials warned this week. That will require more interest rate hikes in the coming months, warned policymakers. Several Twitter employees have already filed a class action lawsuit claiming that the layoffs violate the federal Worker Adjustment and Retraining Notification Act.

☆ We asked top business school professors to analyze Elon Musk's first week running Twitter: 'A case study of failed leadership.'
▼ + stars: | 2022-11-04 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Elon Musk's acquisition and management of Twitter is a business school case study for the ages. Insider asked leading business school professors for their views on his first week. One said he was a failed leader and should stick to innovation, another said Musk was right to clear house. 'Not right for leadership or management'Musk's approach to management is "a case study of failed leadership," as William Klepper, a management professor who teaches an executive leadership course at Columbia Business School, would define it. For Klepper, Musk's autocratic style leaves no room for constructive criticism.

☆ Factbox: Twitter 2.0: Musk warns of bankruptcy, flip-flops on blue check mark in chaotic start
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration/File PhotoNov 18 (Reuters) - Twitter has had a bumpy ride since new owner Elon Musk took charge last month. Twitter has also cut staff by half, while Musk has raised the possibility of the social media platform going bankrupt. read more read more* ROLLS OUT $8 SERVICETwitter on Nov. 5 launches an $8 subscription service that gives the user a verified blue check mark and other features. read more* WARNS OF BANKRUPTCYOn his first mass call with employees, Musk raised the possibility of the social media platform going bankrupt, Bloomberg News reported. read more* RELAUNCH $8 SERVICE ON NOV. 29On Nov. 15, Musk said the sought-after blue check subscription service will be relaunched on Nov. 29, a minor delay from his initial tentative timeline.

☆ Fact Check-Video does not show Elon Musk firing Twitter exec on live radio show
▼ + stars: | 2022-11-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A widely shared video appears to capture Elon Musk firing former legal affairs and policy chief Vijaya Gadde during a live radio show. One post reads, in part, “Elon Musk fires Twitter's Chief Legal Officer and Policy Chief Vijaya Gadde ON AIR!” (here). Reuters reported on Friday that Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter (here). Reuters was unable to identify the exact origin of the following phrase attributed to Musk in the parody video: "Failure comes with a big penalty, you're fired." Elon Musk did not fire a Twitter executive during a live radio show.

☆ From ex-CEO Parag Agrawal to Vijaya Gadde, here are the top Twitter executives who have been fired or left the company since Elon Musk's takeover
▼ + stars: | 2022-11-03 | by ( Sam Tabahriti | Grace Dean | ) www.businessinsider.com time to read: 1 min

Musk is overhauling TwitterElon Musk. Michael Gonzalez/Getty ImagesTesla CEO Elon Musk, the world's richest man, sealed the deal and acquired Twitter for $44 billion on October 27 after months of costly litigation. Following his takeover, one of his first moves was to fire four top executives. Musk had already put in motion wide-ranging plans for Twitter, including charging users for verification, bringing back video-sharing app Vine, and laying off staff, as he plans to overhaul the company. Here are all the executives and top managers who have either been fired or left the social media company following Musk's takeover.

☆ Twitter to begin layoffs Friday, days after Elon Musk's $44 billion takeover
▼ + stars: | 2022-11-03 | by ( Rob Wile | Ben Collins | ) www.cnbc.com time to read: +2 min

Twitter will be laying off staff Friday, the social media giant said in an email obtained by NBC News. In the email, sent Thursday evening, Twitter said it would be notifying staff by email starting Friday morning about their employment. The cuts come after numerous reports that Musk had planned to slash the company's 7,500-person payroll after he finalized his $44 billion acquisition of Twitter late last week. Meanwhile, Musk has sought to reassure advertisers, saying in a post to Twitter that the platform would not become a "free-for-all hellscape." That was among nearly two dozen tweets Musk posted to the site last weekend, though few offered additional clarity on what the site will look like under his leadership.

☆ Twitter — one of the first companies to let staff WFH permanently after the pandemic — plans to order employees back to the office: reports
▼ + stars: | 2022-11-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Twitter plans to cut about half of its workforce following Elon Musk's $44 billion acquisition. It is planning to order staff to return to the office on a full-time basis after layoffs, per Axios. The social media company was one of the first to allow staff to work from home indefinitely. After the cuts, Twitter plans to order its remaining employees to return to the office on a full-time basis, Axios reported, citing sources inside the company. Employees who need to relocate to be near a Twitter office will have as little as 60 days to do so, according to the media outlet.

Chief People and Diversity Officer Dalana Brand announced on Tuesday in a LinkedIn post that she had resigned last week as well. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night. Multiple employees who spoke with Reuters said they continue to receive little communication about the future of the company. An all-staff meeting that was scheduled for Wednesday was canceled, following the cancellation by Twitter of a check-in call last week. Use of the n-word has increased by nearly 500% on Twitter, said the Network Contagion Research Institute, which identifies "cyber-social threats."

☆ Elon Musk fired CEO Parag Agrawal after taking over Twitter. He joins a growing list of executive departures in 2022, including Meta's Sheryl Sandberg and a slew of retail CEOs.
▼ + stars: | 2022-11-02 | by ( Samantha Delouya | ) www.businessinsider.com time to read: 1 min

In February, John Foley, Peloton's co-founder, announced that he would step down as CEO. He was at the helm during the company's pandemic-fueled rise and its subsequent sharp drop in demand. Barry McCarthy, who was once CFO of both Spotify and Netflix, took over the top spot. Peloton co-founder John Foley Mark Lennihan/AP

☆ 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.

Search resuls for: "Agrawal"

25 mentions found