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☆ The 5 biggest market losers in 2022: Elon Musk and Sam Bankman-Fried lead turbulent year
▼ + stars: | 2022-12-29 | by ( Brian Evans | ) www.businessinsider.com time to read: +4 min

Elon Musk saw a massive chunk of his wealth disappear in 2022, while Sam Bankman-Fried faces federal fraud charges. But other sectors of the market suffered major setbacks amid a turbulent year, such as housing. Here are the five biggest market losers of 2022. But other sectors of the market suffered major setbacks amid a turbulent macro environment that included red-hot inflation, 425 basis points in Fed rate hikes, and Russia's war on Ukraine. Here's a list of the five biggest market losers in 2022.

☆ Elon Musk admits to making mistakes in his first 6 weeks of owning Twitter: 'Hey, I just got here, man.'
▼ + stars: | 2022-12-28 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Elon Musk gave the "All-In" podcast a gently self-deprecating review of his tenure at Twitter. But he quipped that it would be "pretty embarrassing and sad" if the moves tanked the site. "In the beginning, we'll make, obviously, a lot more mistakes, because I'm new to — Hey, I just got here, man," he said on the "All-In" podcast show posted on Saturday. Musk also defended a new "views" feature that Twitter unveiled this month to show how many people saw a particular tweet, which many users criticized for cluttering the interface. And obviously, if I make a bunch of mistakes, then Twitter won't succeed, and that will be pretty embarrassing and sad."

☆ The CEO of Elon Musk's Boring Company slept at Twitter HQ with his partner and newborn baby, report says
▼ + stars: | 2022-12-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The Boring Company CEO slept at Twitter's HQ with his partner and baby, The Information reported. Steve Davis and his family all slept in its makeshift bedrooms for weeks after the baby was born. Steve Davis spent the first few weeks after his baby was born sleeping in a makeshift bedroom in the San Francisco office, along with his partner. Forbes revealed earlier this month that the "Chief Twit" had converted some space in the San Francisco office into bedrooms. Soon afterwards the San Francisco Department of Building Inspection said it was investigating the building's use after a complaint was made.

☆ Elon Musk Offers Worst Job in Tech
▼ + stars: | 2022-12-21 | by ( Laura Forman | Dan Gallagher | ) www.wsj.com time to read: 1 min

Wanted: Chief executive officer of a flailing tech company who will have no control over that company’s product or distribution. No free lunch. Must be willing to suffer public ridicule and disdain from the company’s owner. It is not exactly the ad that is going to light up LinkedIn. But it is basically what Elon Musk is searching for in his quest for a new “Chief Twit.” Late Tuesday, Mr. Musk said that he will resign as CEO of the social network he bought barely two months ago “as soon as I find someone foolish enough to take the job!” He added that he still plans to run Twitter’s software and servers teams.

☆ Elon Musk, 'Chief Twit'
▼ + stars: | 2022-12-21 | by ( Kenneth Li | ) www.reuters.com time to read: +5 min

He solicited the view of the public before restoring banned accounts belonging to former U.S. President Donald Trump and other prominent U.S. election deniers. Most declined to return and work under “hardcore” conditions that entailed sleeping at the office as one employee demonstrated on Twitter. He has floated ideas ranging from building a version of China’s WeChat, a super app that would include everything from shopping to banking to social media. It has always punched above its weight and remains the preferred social media megaphone for world and industry leaders, revolutionaries and the media. Look to Musk to stoke political outrage in 2023 as he backs Florida Governor Ron DeSantis for a 2024 U.S. presidential bid while enticing Trump to start tweeting again.

☆ Elon Musk has become a 'detriment' to the value of his companies, say 79 CEOs in new Yale School of Management poll
▼ + stars: | 2022-12-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

79% of CEOs surveyed at a Yale summit believe Elon Musk has become a detriment to the value of his companies. A new poll of CEOs by Yale School of Management showed that 79% of the 100 executives that were surveyed believe Musk has become a "detriment" to the value of his companies. A screenshot from Yale School of Management's 2022 survey of 100 CEOs, asking whether Elon Musk has become "a detriment" to the value of his companies. Yale School of ManagementThe survey was conducted at the invitation-only Yale CEO Summit held last week. Though, shares of the EV company appeared to respond positively to the possibility of Musk stepping down as CEO of Twitter on Monday.

☆ Elon Musk tries to explain why Tesla shares are tanking
▼ + stars: | 2022-12-20 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Long-time Tesla bull Ross Gerber wrote in a tweet , "Tesla stock price now reflects the value of having no CEO. But Tesla's stock has dropped more than other larger automakers since Musk announced his plans to buy Twitter in Apr. Since that date, Tesla shares are down 59%, versus 26% for Ford and 12% for GM . Musk sold billions of dollars of his Tesla holdings to finance the Twitter deal, including a $3.6 billion sale earlier this month. Those, among other challenges, led Mizuho Securities and Evercore ISI to reduce their Tesla price targets on Tuesday.

☆ Elon Musk actively searching for a new Twitter CEO, sources say
▼ + stars: | 2022-12-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Elon Musk Twitter page seen on mobile with his poll to step down as head of TwitterTwitter owner and CEO Elon Musk is searching for a new chief executive of the company, sources told CNBC's David Faber. In court in November, Musk said, "I expect to reduce my time at Twitter and find somebody else to run Twitter over time." "The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive," he wrote. Malicious bots or inauthentic accounts may also be able to register a response to a Twitter poll. Sources told Faber that Musk's search for a new CEO has been ongoing and began before the Twitter poll was made.

☆ Elon Musk is hunting for a new Twitter CEO to replace him, report says
▼ + stars: | 2022-12-20 | by ( Sarah Jackson | Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk is on the hunt for someone to replace him as CEO of Twitter, sources told CNBC's David Faber. Musk recently tweeted a poll on if he should step down as Twitter's CEO, saying he'd abide by its results. Though, shares of the EV company appeared to respond positively to the possibility of Musk stepping down as CEO of Twitter on Monday. The billionaire has offloaded nearly $40 billion worth of Tesla stock in the past 14 months. "Time to end this nightmare as CEO of Twitter," Wedbush tech analyst Dan Ives said in a note on Monday.

☆ Analysis: The Twitter CEO is conspicuously quiet after users vote for him to step down amid chaotic policy changes
▼ + stars: | 2022-12-19 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

In fact, Musk spent most of Monday conspicuously quiet, refraining from tweeting for a remarkable 18-hour period. In one Sunday night tweet, Musk wrote, “No one wants the job who can actually keep Twitter alive. Musk last month said he would “find somebody else to run Twitter” and that he expected to “reduce” his time there. The electric automaker bore the brunt of more bad news related to Musk’s Twitter obsession on Monday. As the saying goes, Vox populi, Vox dei.

☆ Elon Musk continues to foster chaos at Twitter. It's a terrible playbook for leaders following an acquisition.
▼ + stars: | 2022-12-19 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Since buying Twitter, Elon Musk has conducted mass layoffs and reportedly ordered 84-hour workweeks. Musk's reign at Twitter, which began when he took ownership of the platform in late October, has been chaotic. Most Twitter employees would be able to get another job relatively easily. "If you're technical talent, you're still going to be in demand if you're good," said Steve Cadigan, who runs Cadigan Talent Ventures and previously worked on mergers and acquisitions at Cisco. Even though the self-dubbed chief twit's path isn't clear to observers, Cadigan said Musk typically knows what he's doing.

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. On Sunday, Twitter's new owner and CEO Elon Musk posted an informal poll of users of the social media platform asking if he should step down as head of the company. In court in November, Musk said, "I expect to reduce my time at Twitter and find somebody else to run Twitter over time." "The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive," he wrote. Tesla's largest retail shareholder, Leo Koguan, wrote in a tweet on Dec. 14, that "Elon abandoned Tesla and Tesla has no working CEO."

☆ Twitter says it's putting an end to 'free promotion' of Facebook, Instagram, and more
▼ + stars: | 2022-12-18 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Twitter announced the end of 'free promotion' for certain social media platforms on Sunday. The company said it would be putting an end to "free promotion of certain social media platforms on Twitter" in a series of tweets on Sunday and specifically named Instagram, Mastodon, Truth Social, Tribel, Nostr and Post as part of the prohibition. According to one of the tweets from Twitter Support, accounts created only to promote those social platforms would be removed from Twitter. "We know that many of our users may be active on other social media platforms; however, going forward, Twitter will no longer allow free promotion of specific social media platforms on Twitter," the site read. The social media platform has undergone many changes since Musk's $44 billion takeover in late October.

☆ Tesla shares have fallen 28% since Elon Musk took over Twitter, lagging other carmakers
▼ + stars: | 2022-12-13 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party in Austin, Texas, on April 7, 2022. U.S. electric truck maker Rivian has fallen by 27% over that period. Shares in electric vehicle maker Tesla have fallen 28% since October 27, when CEO Elon Musk bought Twitter and appointed himself "Chief Twit," or CEO, of the social media business. Musk sold billions of dollars' worth of his Tesla holdings to finance the Twitter takeover. Since he took over the company, Musk has been regularly posting incendiary tweets, especially aimed at people who hold center-to-left political values, and whom Musk often paints as enemies with a "woke mind virus."

☆ Elon Musk posts pictures of his 2-year-old son, X, visiting Twitter HQ — including one with his own employee badge
▼ + stars: | 2022-12-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Elon Musk posted a photo of his son "X" near Twitter's headquarters in San Francisco. Musk posted the photo, following reports of workers sleeping in Twitter's office. It's not the first time that Musk has brought X to Twitter's office. Grimes previously told Vanity Fair that Musk sees X as a "protégé" and often brings him along to work events. In the past, Musk's son has tagged along to award ceremonies and major presentations.

☆ Elon Musk's latest update to Twitter verification says that figures like Obama, Trump, and even Musk himself 'may not be notable'
▼ + stars: | 2022-12-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk has rolled out updated descriptions for verified Twitter accounts which haven't paid for Twitter Blue. Donald Trump, Barack Obama, and Musk himself come with a warning they "may or may not be notable." The change is part of Musk's alterations to the system of being verified on Twitter, which he has described as "lords and peasants." But this is now defined as "legacy verification." It means that public figures like Barack Obama, Donald Trump, and even Musk himself, all have warnings which suggest they "may not be notable."

☆ Tesla investors tell Elon Musk to stop wasting time on Twitter as his erratic tweets prompt them to sell shares
▼ + stars: | 2022-12-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Elon Musk's tweets about politics and memes have dented some investors' confidence in him. The business analyst from Kansas City, Missouri told Bloomberg that he recently sold Tesla shares worth $30,000. He now says that Musk's erratic behavior is too much to deal with, and only kept a handful of Tesla shares. "It's almost like he's abandoned us in favor of his new mission," Goodwin told Bloomberg. He told Bloomberg that he's defended Musk online like many of the billionaire's acolytes, but the latest episode "has lost a lot of us."

☆ 'If I committed suicide, it's not real': Elon Musk reassures the public he's not suicidal for a second time this year
▼ + stars: | 2022-12-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Elon Musk attended a Twitter Space Q&A with more than 100,000 listeners on Saturday. This is the second time in 2022 that Musk has alluded to his mysterious death. In a Saturday Twitter Space, Musk hosted a live Q&A on the "Twitter Files" bombshell dropped on Friday. According to Twitter, 1.8 million total tuned in to the Twitter Space interview. In the Q&A, Musk also suggested Twitter favored Democrats over Republicans in its censorship.

☆ A lawyer for fired Twitter staff says Elon Musk is trying to 'tap-dance' his way out of paying severance, and threatens a 'fun as hell' arbitration campaign
▼ + stars: | 2022-12-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A lawyer representing laid-off Twitter staff sent a fiery letter to Elon Musk's lawyer, Alex Spiro. Cohen tweeted that he hoped Musk would do the right thing, otherwise "it'll be fun as hell." He accused the world's richest person of "attempting to tap-dance your way out of Twitter's binding obligations to its employees." "If you don't unequivocally confirm by Wednesday, December 7 that you intend to provide our clients with the full severance Twitter promised them, we will commence an arbitration campaign on their behalf," Cohen said. Musk now stands accused by some former Twitter staff of failing to provide the severance package they were promised, as alleged in a previous lawsuit.

☆ Mark Zuckerberg and Elon Musk appear to agree on one thing: Apple's control over apps is 'problematic'
▼ + stars: | 2022-11-30 | by ( Grace Kay | Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg called Apple's control over the App Store "problematic" during an interview Wednesday. Zuckerberg's comments echo Elon Musk, who called the App Store "a serious problem" on Tuesday. On Tuesday, Musk called Apple's control over the App Store "a serious problem" and appeared to declare a "war" on Apple. Musk has also criticized Apple's App Store fee. Earlier this year, Meta said that Apple's App Tracking Transparency feature would decrease the company's 2022 sales by about $10 billion.

☆ Elon Musk claims to have met with Tim Cook at Apple's HQ after putting the company on blast
▼ + stars: | 2022-11-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Elon Musk posted a video on Wednesday, claiming Tim Cook showed him around Apple's campus. Apple didn't respond to a request for comment; Musk's tweet comes after he slammed the company on Twitter. New York Times reporter Kate Conger said on Twitter that Apple employees saw Musk and Cook together on campus on Wednesday. Musk, who calls himself Twitter's "Chief Twit," on Monday accused Apple of exercising monopoly powers through its App Store. Musk later added that Apple had "threatened" to take Twitter off its App Store and "won't tell us why."

☆ Elon Musk is going to 'war' with Apple. Here's a look at the billionaire's years-long beef with the tech giant.
▼ + stars: | 2022-11-29 | by ( Grace Kay | ) www.businessinsider.com time to read: 1 min

Elon Musk seemingly declared "war" on Apple in a since-deleted tweet. Elon Musk tweeted a meme seemingly declaring "war" on Apple. Elon MuskThe billionaire accused Apple of monopolizing the market and opposing free speech in a series of tweets. "Apple has mostly stopped advertising on Twitter," Musk tweeted on Monday. "Do they hate free speech in America?"

☆ Crypto’s Final Price Could Be Zero
▼ + stars: | 2022-11-28 | by ( Andy Kessler | ) www.wsj.com time to read: +1 min

Technology and debt, like Red Bull and milk, don’t mix. But when technology moves on to the next new thing, there isn’t much residual value in the form of assets and collateral to call on in case of debt defaults. Twitter, which last turned a profit in 2019, now has $1 billion a year in debt payments. Wall Street can’t off-load Twitter’s buyout debt, now maybe 60 cents on the dollar, without losing money. As Chief Twit, Mr. Musk proclaims Twitter will operate under free-speech principles.

☆ Elon Musk appears to be reading a book by George Washington about how to behave in public
▼ + stars: | 2022-11-28 | by ( Grace Kay | Travis Clark | ) www.businessinsider.com time to read: +4 min

Elon Musk's bedside table appears to feature a book on etiquette by George Washington. Musk shared a picture Monday morning of what he said was on his bedside table. The book gives advice on "how to dress, walk, eat in public, and address one's superiors." It is unclear whether Musk took the picture himself or whether it's actually his bedside table. The box set wasn't the only thing on what Musk said was his bedside table.

☆ A Twitter executive said she's been working more than 75 hours a week because Elon Musk fired so many people
▼ + stars: | 2022-11-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

A Twitter exec said she worked more than 75 hours a week since Elon Musk took over, per Irish Times. She said Musk was leading Twitter "in an unorthodox manner" and giving staff "mixed messages." Sinead McSweeney said in a statement to a High Court in Ireland that her working hours soared to more than 75 in a week since the billionaire took over. The vice-president, who has worked at Twitter for more than a decade, said she regularly works more than 40 hours per week as required by her employment contract. Musk has given staff "mixed messages" and is leading the organization "in an unorthodox manner," McSweeney said, according to the report.

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