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☆ I spent a day as a 'Truthsayer' on Truth Social — it was a bizarre mix of conspiracy theories and Biden-hate
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Read previewThe company behind Donald Trump's alt-right social media platform, Truth Social, made its stock market debut last week. Its parent company, Trump Media & Technology Group, merged with Digital World Acquisition Corp. and began trading under the ticker DJT on Tuesday. I decided to take a day-long visit its core platform, Truth Social, to see what goes on. Most of the content on Truth Social is highly political, and my feed was littered with fellow "Truthsayers" spouting conspiracy theories. AdvertisementUnless you have a burning desire to fill your days with overly political content, Truth Social might not be the social media platform for you.

Persons: —, Donald Trump's, Trump, MAGA, Elon Musk's, Joe Biden, Biden, it's Organizations: Service, Trump Media & Technology Group, Business, NBC, Washington Examiner, CBS News Locations: America

☆ Trump’s Truth Social is going public today. Experts warn $9 billion valuation defies logic
▼ + stars: | 2024-03-26 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

Truth Social had just 494,000 monthly active US users on iOS and Android combined in February, according to Similarweb stats provided to CNN. Even Threads had more than 10 times the number of monthly active users that Truth Social had in February, according to Similarweb. The last Trump company to go public, Trump Hotels and Casino Resorts in 1995, used the same DJT ticker symbol. Like any social media business, Truth Social faces pressure to grow its user base, expand its advertising business and build a subscription service. “If he wins in November, Truth Social will probably be the primary means of presidential communication,” said Kennedy.

Persons: Donald Trump’s, –, ”, Jay Ritter, Ritter, “, Reddit, Matthew Kennedy, Kennedy, Jonathan Macey, that’s, ’ Matthew Tuttle, Tuttle, it’s Trump, you’ve, ” “, I’m, Donald Trump, Trump, “ Donald J, TMTG, skeptically Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC, Trump, Renaissance, Truth, CNN, Facebook, Yale, Digital, Tuttle Capital Management, SEC, Trump Hotels, Casino Resorts, New York Stock Exchange Locations: New York, ”, United States

☆ America’s largest companies are fueling inequality, says new study
▼ + stars: | 2024-03-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

About 90%, or $1.1 trillion, of that profit went to shareholders through stock buybacks and dividend payments, according to new research from anti-poverty organization Oxfam International. At the same time, the study found, only 10 of those 200 companies have made public statements in support of paying a living wage. For some of those companies, the average CEO-to-worker pay ratio is now above 1,500 to 1, the nonprofit confederation found. Oxfam’s study found that on average, pharmaceutical companies paid just 11.6% in taxes in 2022 (that’s down from 11.8% in 2021). Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: —, we’ll, ”, Irit Tamir, Joe Biden, Donald Trump, Matt Egan, Devin Nunes, Dave Calhoun, Chris Isidore, Calhoun, Max Organizations: CNN Business, Bell, New York CNN, CME, Oxfam International, Oxfam, Corporations, Institute for Policy Studies, Tax, Truth Social, Trump Media, Trump Media & Technology Group, Corp, Digital, Trump, Nasdaq, Big Tech, ”, overvaluing Trump Media, SEC, Twitter, CNN, Boeing, CNBC, Alaska Airlines, Max Locations: New York, United States

☆ Truth Social owner Trump Media will begin trading Tuesday as the merger closes
▼ + stars: | 2024-03-25 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Truth Social owner Trump Media & Technology Group announced Monday its merger with a publicly traded shell company has closed and trading will begin on the stock market on Tuesday. Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said. Shares of Digital World Acquisition Corp (DWAC), the shell company that now owns Truth Social, surged more than 20% on Monday. Experts warn that the market is overvaluing Trump Media given the company’s fundamentals. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: Donald Trump, Devin Nunes, ”, ” Nunes, CNN’s Elisabeth Buchwald, Krystal Hur Organizations: New, New York CNN, Truth, Trump Media & Technology Group, Trump Media, Corp, Nasdaq, Digital, Trump, Big Tech, overvaluing Trump Media, SEC, Twitter, CNN, AMC Entertainment, GameStop Locations: New York

Outside of his MAGA movement, though, the social media site is struggling to find a wider audience. It’s a critical milestone for the social media site as well as for Trump, providing a path for the former real estate tycoon’s return to Wall Street. Some conservatives, looking for an alternative to mainstream social media sites seen as hostile to their point of view, initially seemed eager to embrace Truth Social. Truth Social’s hot.”Many Republican politicians and conservative have not joined Truth Social or they post infrequently. “It’s safe to say that Truth Social has not broken into the mainstream,” said Joshua Tucker, co-director of the New York University Center for Social Media and Politics.

Persons: he’s, Nick Mirtschink, Donald Trump, Bree Duke, ” Duke, “, ” Mirtschink, Duke, MAGA, –, It’s, Trump, “ It’s, ” Jay Ritter, Donald Trump’s, ”, Josephine Lukito, ” Trump, Joe Biden’s, Devin Nunes, Glenn Youngkin’s, Megyn Kelly, Ben Shapiro, Glenn Beck don’t, Carolina Sen, Tim Scott, Matt Terrill, Florida Sen, Marco Rubio, ” Paul Leslie, you’re, ’ It’s, there’s, Nikki Haley’s, Elon Musk, Joshua Tucker, that’s, ” Kurt Holtzclaw, ” Holtzclaw, Lukito, ” Lukito, Jimmy Kimmel, “ Trump, Marjorie Taylor Greene Organizations: CNN, Truth, Trump Media & Technology, Trump, Wall, Facebook, Apple, University of Florida, University of Texas, Twitter, Social, South, Pew Research, Trump Media, Republican, Big Tech, Alabama Supreme, Virginia Gov, ” Trump, South Carolina Gov, Cuban, New York University Center for Social Media, ” Locations: Georgia, Rome , Georgia, Austin, South Carolina, Joe Biden’s State, Carolina, Florida, Arizona, New York

☆ Trump is about to get $3 billion richer after deal is approved to take his company public. But it won’t solve his cash crunch
▼ + stars: | 2024-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

Truth Social owner Trump Media will begin trading Tuesday as the merger closesCNN —Investors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company. The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles. Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices. First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals.

Persons: Donald Trump, Trump, Trump won’t, ”, Matthew Kennedy, Kennedy, Charles Whitehead, Jonathan Macey, Jay Ritter, Ritter, Whitehead, …, Xavier Kowalski, Schulte Roth, Zabel, ” Banks, ” Whitehead, “, ‘ Organizations: Social, Trump Media, CNN, Digital, Corp, Trump Media & Technology Group, Shareholders, Trump, Renaissance Capital, Cornell Law School, SEC, University of Florida, – Locations: New, Manhattan, ” Yale

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Snowflake, Coinbase, Skechers, Tesla, Berkshire Hathaway & more
▼ + stars: | 2024-02-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.

Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland

☆ Bobbi Brown is still living a life of luxury and lipstick — and it's all on her own terms
▼ + stars: | 2024-01-24 | by ( Amanda Krause | ) www.businessinsider.com time to read: +10 min

Bobbi Brown is a beauty icon with two major makeup brands. But through it all, Bobbi Brown has never budged from her status as a beauty icon. Bobbi Brown on set for Jones Road. It's hard to describe," Brown told BI, though she notes that "no one" does the "no-makeup" look better than her brand. According to SimilarWeb, a software company that analyzes internet traffic, the Jones Road site reached more than 850,000 visits in November 2023.

Persons: Bobbi Brown, Brown, —, Yogi Berra, Estée Lauder, freebies, Becca Cosmetics, James Charles, Ben Ritter, Jones, Cody Plofker, Plofker, There's, it's, SimilarWeb, she's, that's, Bobbi Organizations: Business, Service, Scholastic, Brands, Jones, Athletic Greens, Ikea Locations: Montclair , New Jersey, New York, Montclair, TikTok, New Jersey, London

☆ Temu was one of the fastest-growing websites in 2023, new data shows
▼ + stars: | 2024-01-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Temu was among the fastest-growing large websites in the US last year, according to a new analysis by Similarweb. When considering only websites with more than 10 million monthly visits, Temu came in second only to OpenAI, which saw its traffic grow by 2,690% in 2023 as AI exploded into the mainstream. The ad intelligence company told Modern Retail that Temu spent an estimated $517 million on US ads between September and December 2023. AliExpress, the Alibaba-owned online marketplace, was in third place behind Temu with year-over-year traffic growth of 290%. AliExpress was launched in 2010 but still saw significantly less traffic than Temu in 2023, with an average of about 24.2 million monthly visits.

Persons: Temu, David Carr, AliExpress, Carr Organizations: Pinduoduo Holdings, Business, Modern, Duo Security Locations: Boston, China

☆ Meta's retreat from news accelerated in 2023, leaving publishers scrambling for traffic
▼ + stars: | 2024-01-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +14 min

At Mother Jones, a 48-year-old nonprofit magazine specializing in politics and investigations, the implications were dramatic. "The firehose of Facebook traffic was never going to pay for our journalism, for the majority of our journalism," Bauerlein said. Last decade, many publishers saw their "social traffic decline pretty dramatically," with Facebook deprioritizing text-based articles in favor of video content, Cholke said. "If we all end up finding news in the metaverse, then you'll be finding Mother Jones in the metaverse," she said. What Mother Jones won't do, she said, is "bet everything on one platform, because that never works out."

Persons: Mark Zuckerberg, Sen, John Kennedy, Bill Clark, Reuters Mother Jones, Monika Bauerlein, Mother Jones, Meta, Donald Trump, Bauerlein, Jill Nicholson, Nicholson, Zuckerberg, David Carr, Carr, We've, Meta hasn't, It's, Similarweb, Sam Cholke, John S, Adams, Jonah Peretti, " Peretti, Jessica Probus, BuzzFeed's, BuzzFeed, Probus, Cholke, that's, Chartbeat's Nicholson, Mathew Ingram, Facebook, Ingram, Pew, Elisa Shearer, influencers, Jones Organizations: Facebook, Reuters, Mother, CNBC, Google, Meta, Daily, Comcast, Vice Media, Institute for Nonprofit News, Texas Tribune, Montana Free Press, The Texas Tribune, Institute for Nonprofit, Longtime, Columbia Journalism, Pew Research Center, Pew Locations: Washington, France, Germany, Australia, Helena, American

☆ The top 9 'must-have' travel experiences of 2024, according to luxury advisors
▼ + stars: | 2024-01-16 | by ( Monica Pitrelli | Jonathan Delise | ) www.cnbc.com time to read: +8 min

If that sounds like a tall order for a summer getaway, the luxury travel company Virtuoso asked 20,000 of its travel advisors to share their top experiences for 2024. Dark sky tourism focuses on rural locations without light pollution, such as Greece's Olympus Mountain National Park. Departing in August, Virtuoso recommends travelers first take in the Olympic Games before departing the city in style. Passion travelsHobbies may be associated with the home, but Virtuoso recommends taking your passions on the road. Virtuoso recommends exploring Peruvian cuisine at the Mistura Food Festival, or checking out the street food of Ljubljana, Slovenia.

Persons: Nicolas Economou, Manoj Shah, Belles, Bhutan's, Young, Peter Adams, Chiang Mai, Koh, Wiphop, Sakura, James Cole, Hillary, Cousteau, Shackleton, pricey, Yasin Akgul, bookworms, Wolfgang Kaehler, Brian Curtice, Levente Bodo, ERNESTO BENAVIDES Organizations: Nurphoto, DarkSky, Stone, InterContinental, UNESCO, Istock, Expedition, Getty, CNBC Travel, Orient, Afp, Departing, Olympic Games, Chelsea Flower, Lightrocket, Festival Locations: stargazing, Norway, Iceland, Canada, Northern Mexico, Blanco , Texas, Albanya, Spain, Africa, Bhutan, Thailand, Pana, Yai, Bangkok, Japan Japan, United States, North America, Japan, Hakodate, Hokkaido, Kyoto, Kanazawa, Fuji's, Antarctica, Paris, Istanbul, Turkey, Asia, Europe, Venice, Turkish, Strahov, Riau, Isla, Ljubljana, Slovenia

☆ There's been a creepy rise in people using AI apps to 'undress' women in photos, data shows
▼ + stars: | 2023-12-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

AI apps and websites that create fake nude images are seeing a rise in the number of visitors. The platforms use AI to make photos of fully clothed women appear naked. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAI apps that can "undress" women in photos are seeing higher numbers of users, data showed. Such "undressing" sites and apps let users upload an image of someone fully clothed.

Persons: Graphika, — Organizations: Service, Business

☆ ChatGPT was treated like the 'second coming of the messiah' and its impact was a big surprise, says Meta's AI chief
▼ + stars: | 2023-12-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Yann LeCun told Forbes the bot was treated like the "second coming of the messiah." ChatGPT's popularity sparked an AI arms race between big tech companies, including Meta. Yann LeCun, Meta's chief scientist, told Forbes ChatGPT was treated like the "second coming of the messiah" when it was released. AdvertisementThe bot's popularity set off alarm bells at Google and kickstarted an AI arms race between big tech companies. LeCun told Forbes the decision came from Zuckerberg following a "big internal debate."

Persons: Yann LeCun, —, It's, OpenAI, Forbes ChatGPT, LeCun, Kendall Jenner, Meta Organizations: Forbes, Meta, Service, Zuckerberg

☆ ChatGPT just turned one, and even some OpenAI employees can't believe the way its first year has played out
▼ + stars: | 2023-12-01 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

When it was first launched, OpenAI leaders framed it as a "low-key research preview." AdvertisementChatGPT turned one today, and if you're surprised by its impact, you're not alone — so are some OpenAI employees. Today, the term "low-key research preview" has become something of a meme among OpenAI's employees. OpenAI employees have even used the phrase as laptop stickers, per the Atlantic. "The outside world probably thinks we're all joking, but this actually was our 'low-key research preview,'" wrote Fedus.

Persons: ChatGPT, —, OpenAI, Google's Bard, Goldman Sachs, Greg Brockman, William Fedus Organizations: Service, UBS, Meta, Bloomberg

Shein's website drew 28.6 million unique monthly visitors in October, up 7.25% from a year earlier, according to Similarweb. Amazon trounces both online retailers with 56% of its 268 million unique monthly visits in October resulting in purchases, its data shows. Temu, which launched in the U.S. in September 2022, is offering deals for cheap goods for the holiday shopping season. Shein is ramping up holiday marketing in the U.S. and Europe as it extends its reach and products on its platform. Peter Pernot-Day, head of corporate strategy at Shein, said Shein has advised its marketplace sellers "to optimize their product listings" by "providing competitive pricing and keeping inventory up to date."

Persons: David, Dee, Delgado, Temu, Shein, Inditex's Zara, Melissa Minkow, Peter Pernot, Arriana McLymore, Nick Zieminski Organizations: REUTERS, Missguided, CI, Thomson Locations: New York City, U.S, Singapore, Europe, Similarweb, New York

☆ X, formerly Twitter, being 'overrun by trolls and lunatics' after Musk takeover, Wikipedia founder says
▼ + stars: | 2023-11-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

watch nowLISBON — Wikipedia founder Jimmy Wales slammed X, formerly known as Twitter, after its takeover by Elon Musk, saying the social media service is losing users and has been "overrun by trolls and lunatics." "I think a lot of people are fleeing Twitter, a lot of thoughtful and serious people are fleeing Twitter," Wales told CNBC at the Web Summit tech conference in Lisbon. "Twitter was, and now I guess X sort of is, in a way, the default public square for the world. Wales' comments come after Musk offered Wikipedia $1 billion if it changes its name to "Dickipedia." The spat between the two goes back to last year when Musk alleged Wikipedia has "a non-trivial left-wing bias."

Persons: Jimmy Wales, Elon Musk, Twitter, it's, Musk, he's, Elon Organizations: Elon, Twitter, Wales, CNBC, Summit, Research Locations: LISBON, Wales, Lisbon

☆ So that's why Google wants you to use Chrome on your iPhone so badly
▼ + stars: | 2023-11-14 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Google pays Apple 36% of search revenue it gets when people use the Safari browser. That's on top of the $18 billion a year it's paying Apple just to be Apple's default search engine. AdvertisementThe federal antitrust case against Google had an astonishing reveal Monday: Google pays Apple 36% of the search revenue it gets when people use the Safari browser. And that's on top of the $18 billion Google paid Apple in 2021 just to be the default search engine on Apple devices. You can certainly imagine why Google would really love iPhone users to download the Chrome app and set that as their default search engines.

Persons: —, Sundar Pichai, Apple, Candy, it's Organizations: Google, Apple, Service

☆ ‘Substantial doubt’ the owner of Trump’s Truth Social will survive, accountants warn
▼ + stars: | 2023-11-14 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Former President Donald Trump’s social media venture Truth Social is burning cash and piling up losses so rapidly that accountants warn it might not survive unless it soon completes a long-delayed merger, according to corporate filings. Trump Media and Digital World said the filing of the financial documents on Monday mark a key step forward towards finalizing their merger. That merger is key for the survival of Trump Media as it would unlock hundreds of millions of dollars in funding. The SEC filings indicate Trump Media lost $59.1 million in 2021 before posting a net profit of $50.5 million in 2022. Still, Digital World, the blank-check firm seeking to merge with Trump Media, is bullish on the venture.

Persons: Donald Trump’s, Elon Musk, Trump, “ TMTG, ”, Devin Nunes, ” Trump, Matthew Kennedy, TMTG, ” Kennedy, Kennedy, Matthew Tuttle, Donald Trump, Donald J, CNN’s Chris Isidore Organizations: New, New York CNN, Trump Media & Technology, SEC, Social, Trump, Trump Media, ” Trump Media, Big Tech, Renaissance, Tuttle Capital Management, Facebook, Securities and Exchange Commission Locations: New York

Google and Character AI did not respond to requests for comment. The demographic is helping the company position itself as the purveyor of more fun personal AI companions, compared to other AI chatbots from OpenAI's ChatGPT and Google's Bard. Character.AI is also in talks to raise equity funding from venture capital investors, which could value the company at over $5 billion, sources said. The talks with Google are ongoing and terms of the deal could change, said the sources, who requested anonymity as the discussions are private. Anthropic uses Google's cloud services as well as its latest version of TPUs.

Persons: Character.AI, Noam Shazeer, Daniel De Freitas, Billie Eilish, Character.AI's, Google's Bard, Andreessen Horowitz, Lina Khan, Krystal Hu, Anna Tong, Jeffrey Dastin, Bill Berkrot Organizations: Google, Reuters, Microsoft, . Federal Trade Commission, Thomson Locations: OpenAI, ., San Francisco, New York

☆ Omegle shuts down after its founder acknowledges 'unspeakably heinous crimes'
▼ + stars: | 2023-11-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Founder Leif K-Brooks acknowledged "lowlights" of the random chat site in a letter to users. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementOmegle — the site that matched random strangers and served as entertainment for some Gen Z sleepovers, but also had a disturbing side — will shut down. When he launched Omegle as in 2009, then-18-year-old founder Leif K-Brooks saw the internet as a "global village," he said in a long post Thursday. "There can be no honest accounting of Omegle without acknowledging that some people misused it, including to commit unspeakably heinous crimes," K-Brooks wrote.

Persons: YouTubers, Leif K, Brooks, —, Z, Omegle, They'd, Gen Zers, Emma Chamberlain, Gen Z Organizations: AP, Service, New York Times, YouTube Locations: Oregon, Omegle

☆ Usage of Elon Musk's X is 'down by every measure' one year after his takeover
▼ + stars: | 2023-10-31 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

Use of X on both iOS and Android is down by 17.8% compared to last year, according to SimilarWeb. Musk has big plans for X, rolling out new features and discussing new ideas at a recent all-hands meeting. These latest usage estimates echo Insider's previous reporting in September on X use and downloads decreasing since Musk's takeover. He wants X to be the "everything app," similar to the Chinese app WeChat. Most recently, the X app introduced the option to hold video and voice calls on X.

Persons: —, Elon Musk, X, X hasn't, Linda Yaccarino, Yaccarino, Musk, Insider's Kali Hays Organizations: Service, Axios, Wall Street

The Consequences of Elon Musk’s Ownership of XNow rebranded as X, the site has experienced a surge in racist, antisemitic and other hateful speech. Research conducted in part by the Institute for Strategic Dialogue concluded that anti-Semitic tweets in English more than doubled after Mr. Musk’s takeover. Keeping X at the center of public debate is exactly Mr. Musk’s goal, which he describes at times with a messianic zeal. Even worse, the article argued, Mr. Musk’s changes appear to be boosting the engagements of the most contentious users. A month into Mr. Musk’s ownership, the platform stopped enforcing its policy against Covid-19 misinformation.

Persons: Elon Musk, ”, “, Musk’s, —, Musk, Tim Chambers, ” Mr, Chambers, Tesla, lockdowns, Thierry Breton, Mr Organizations: Elon, Twitter, “ Twitter, Hamas, Dewey, Group, Defamation, Research, Institute for Strategic, Commission, Kremlin, Pentagon, Tufts, Rutgers, Montclair, 4chan, Harvard Kennedy School, Covid, Media, Mr, Commission's Digital Services, Services, Defamation League, European Union Locations: Musk’s, Russia, China, Israel, Ukraine, Iran, guardrails

☆ Elon Musk’s Twitter takeover, the platform and its cultural impact have fundamentally changed
▼ + stars: | 2023-10-27 | by ( Brian Fung | Clare Duffy | ) edition.cnn.com time to read: +16 min

Here’s a (non-exhaustive) account of how Musk has fundamentally changed Twitter since he made one of the most consequential acquisitions of the social media age. Many of Musk’s content and product decisions have also led to what civil society groups have reported as a troubling spread of hateful speech on the platform. He recommended that X users monitor the Israel-Hamas conflict by following an account known for spreading disinformation, before later deleting his post. And, in an attempt to prove that former Twitter executives deliberately discriminated against conservatives on the platform, Musk provided a handpicked group of journalists with selective access to company records. It is perhaps Musk’s all-consuming presence that has most undermined what users used to love about Twitter.

Persons: New York CNN — It’s, Elon Musk, Linda Yaccarino —, Yaccarino, ” Yaccarino, —, it’s, Here’s, Musk, he’s, Donald Trump, LeBron James, James, ”, X, General Mills, ” Weeks, “ Elon, what’s, “, Paul Pelosi, Dilbert, Scott Adams, George Soros, Joe Biden’s, Ron DeSantis ’, Robert F, Kennedy, Jr, Tucker Carlson, Vivek Ramaswamy, Benjamin Netanyahu, Hunter Biden Organizations: New, New York CNN, Elon, Twitter, US Federal Trade Commission, Securities, Exchange Commission, EU, Premium, Nintendo, NPR, PBS, Volkswagen, —, Center, Defamation League, Wall Street, Florida Republican Gov, Fox, New York, Trump Locations: New York, Israel, United States, breakeven, New

Musk has dismantled core features of what made Twitter, Twitter — its name and blue bird logo, its verification system, its Trust and Safety advisory group. “We’re still negative cash flow," he posted on the site on July 14, due to a about a "50% drop in advertising revenue plus heavy debt load." Insider Intelligence estimates that X will bring in $1.89 billion in advertising revenue this year, down 54% from 2022. “Even though the cultural relevance of Twitter was already starting to decline," before Musk took it over, "it’s as if the platform no longer exists. Usually when a social platform, starts to lose its relevance there are at least some external factors at play, but that’s not the case here.”

Persons: Elon Musk, it's, hasn’t, Jasmine Enberg, Musk, ” Enberg, —, Ian Bremmer, “, algorithmically, ” It's, We’re, ”, Linda Yaccarino, it’s, that’s Organizations: FRANCISCO, —, Twitter's San, Twitter, Media Matters, European Commission, NBC, Facebook, Meta, Google, ., Intelligence Locations: Twitter's, Twitter's San Francisco, Maine, Israel

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