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☆ Donald Trump says Twitter is 'in sane hands' following Elon Musk's takeover
▼ + stars: | 2022-10-28 | by ( Hannah Towey | Oma Seddiq | ) www.businessinsider.com time to read: +2 min

Donald Trump said the app is now "in sane hands" with the tech billionaire at its helm. "I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country," Trump wrote on Truth Social. Twitter permanently suspended Trump from its website two days after the Capitol attack on January 6, 2021, citing the "risk of further incitement of violence." Twitter and Musk formally closed on the billionaire's $44 billion acquisition offer to take the company private on Thursday. Immediately after purchasing the app, Musk ousted some of Twitter's top executives including CEO Parag Agrawal, Chief legal officer Vijaya Gadde, and general counsel Sean Edgett, Insider previously reported.

☆ Trump says Twitter is 'in sane hands' following Elon Musk's takeover
▼ + stars: | 2022-10-28 | by ( Hannah Towey | Oma Seddiq | ) www.businessinsider.com time to read: +2 min

☆ Wall Street asks if Musk can manage Twitter, Tesla and more
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - As the dust settles on Elon Musk's $44 billion buyout of Twitter, analysts and investors are debating one crucial question - has the billionaire entrepreneur behind Tesla and SpaceX bitten off more than he can chew? Tesla's stock has lost nearly a third of its market value since Musk made an offer to buy Twitter in April, more than double the decline in the benchmark S&P 500 index (.SPX) in the same period. Nelson is among those who believe that Musk can handle the various roles while delivering on Tesla's targets. "If anyone is capable of pulling off this juggling act in our view, you know it's Elon," he said. Tesla stock reacts to Musk's $44 bln deal to buy TwitterReporting by Nivedita Balu, Akash Sriram and Yuvraj Malik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk now owns Twitter. Here’s what he could change
▼ + stars: | 2022-10-28 | by ( Clare Duffy | ) edition.cnn.com time to read: +9 min

New York CNN Business —After spending months attempting to get out of his deal to buy Twitter, Elon Musk officially owns the hugely influential platform. Musk has said Twitter, under his leadership, would have more lenient content moderation policies. Unbanning Trump and other accountsBut the most striking early change could come from who is and is not allowed on a Musk-owned Twitter. Musk, for his part, has focused on bringing back one of Twitter’s most prominent former users: Trump. The same day he sent his letter to Twitter attempting to revive the deal, Musk was widely panned for comments he made on the platform about Russia’s invasion of Ukraine.

☆ Elon Musk carried a sink into Twitter on Wednesday as deal nears close
▼ + stars: | 2022-10-26 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Elon Musk arrives at the In America: An Anthology of Fashion themed Met Gala at the Metropolitan Museum of Art in New York City, New York, May 2, 2022. Musk has until 5 p.m. Eastern Time on Friday to complete his deal to buy Twitter or again face the proposition of going to trial. A Delaware Chancery Court judge set the Friday deadline after Musk said he would be willing to buy Twitter after all. The judge ended up postponing the original trial set for last week and gave the parties until the end of this week to close to deal, or else she would set new trial dates for November. WATCH: How Elon Musk's Twitter takeover plans shook Wall Street and social media

☆ Twitter said its most active users are in 'absolute decline' and that there's a 'devastating' loss of interest in fashion and celebrities: Reuters
▼ + stars: | 2022-10-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Twitter's most active users are declining, the company wrote in an internal report, Reuters reported. This dwindling population of active users generates half of Twitter's global revenue, the report added, per Reuters. Interest in cryptocurrencies peaked in late 2021, but subsided after this summer's crypto crash, Twitter's internal report added, per Reuters. However, the US has at least 83.4 million active Twitter users, supplying the most users out of any country, according to DataReportal, citing data collected in July by Singapore-based digital consultancy Kepios. The UK has at least 19.8 million active Twitter users, per DataReportal.

☆ America's top bankers worry more about the world than a recession
▼ + stars: | 2022-10-25 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The relationships of the Western world would have me far more concerned than whether there’s a mild or slightly severe recession [in the United States],” he added. “Saudi Arabia and the United States have been allies for 75 years. Fix social media but keep innovatingSchwarzman also highlighted rising interest rates and “the problems of relationships among countries” as the major challenges facing businesses. To that list he added social media. “One of the things that we’re almost not aware of is how difficult it is for governments to function in a world of social media,” Schwarzman said.

☆ Elon Musk must close Twitter deal by end of this week or face trial
▼ + stars: | 2022-10-24 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN Business —The clock is ticking for Elon Musk to complete his deal to buy Twitter. ET on Friday to close his $44 billion acquisition of Twitter or face a trial that was previously delayed to allow both parties to close the deal. Musk in April agreed to buy Twitter (TWTR) for $54.20 per outstanding share and then, weeks later, sought to terminate the deal. Bloomberg last week reported that the company had frozen employees’ stock accounts in anticipation of the deal’s closing, and that lawyers for both Musk and Twitter were preparing paperwork to close the deal. Musk, meanwhile, told Tesla shareholders that he was “excited” about Twitter even as he admitted to “obviously overpaying” for it.

☆ Elon Musk says he is 'obviously overpaying' in his $44 billion deal to buy Twitter
▼ + stars: | 2022-10-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk says he's "obviously overpaying" with his $44 billion deal to buy Twitter. Musk is the world's richest person with an estimated net worth of $209 billion. Musk is the world's richest person, with a current net worth of $209 billion, according to estimates by Bloomberg. Musk U-turned on his decision to buy Twitter – and then U-turned againMusk initially offered to buy Twitter in April after accumulating a 9.2% share, making him its biggest shareholder, and trying to join its board of directors. Bloomberg reported that Twitter froze its employees' ability to access and trade shares on Monday in a sign that Musk's deal is close to completion.

☆ Why the 'Amazonification' of startups isn't always a good thing
▼ + stars: | 2022-10-19 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Plus, we've got news on actual robots, who are threatening to pit humans against machines. That's not always a good thing. Companies love to hire Amazon alumni who inject their firms with Jeff Bezos' metrics-focused style. Amazon-trained leaders (sometimes known as "Jeff Bots") have founded more than 650 startups, and swaths have joined the industry's top C-suites, contributing to the "Amazonification" of said firms. Now, humans need to determine how to synchronize our labor with the souls of new machines — before things get out of hand.

☆ Rise of the 'Jeff Bots': Former Amazon leaders have infiltrated the tech industry and that's not always a good thing, leadership coaches warn
▼ + stars: | 2022-10-18 | by ( Rachel Durose | ) www.businessinsider.com time to read: +6 min

A Jeff Bot leader that joins a company and immediately implements Amazon's ways could be doing more harm than good. Former Amazon employees have called the company's culture a "penny-pinching, empathy-lacking corporate behemoth," Insider previously reported. "For organizations that want to adopt an Amazon culture, I would caution them to be careful what you ask for," he said. An infrastructure to support innovationIt's not impossible for startups to successfully copy Amazon's leadership style and principles. This lack of infrastructure was one reason Amazon's leadership style seemed to fall flat at the rapid-delivery company Gopuff, Insider previously reported.

☆ Baristas in San Francisco went on strike. Their robot co-workers went right on serving
▼ + stars: | 2022-10-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

For three days last month, 1,000 food-service workers at SFO went on strike over wages and working conditions. For decades, robots have been replacing, or at least nudging aside, human labor. But at SFO, robot baristas didn't simply replace humans — they crossed a picket line. Cafe X robot baristas stayed on the job when food-service workers went on strike at San Francisco International Airport last month. The short version is: Every new robot per thousand human workers reduces employment by 0.2 percentage points and decreases wages by 0.42%.

☆ Kanye West says he plans to have dinner with Donald Trump and welcome him onto Parler — and will also sign up to Truth Social
▼ + stars: | 2022-10-18 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Kanye West has planned to have dinner with Donald Trump, he told Bloomberg. Ye also said he will sign up to Trump's social media app, Truth Social. Ye also told the publication he would also sign up to Truth Social, the social media platform launched by Trump in February. Around 13 months after being kicked off the social media platforms, Trump launched his own: Truth Social. Investors recently walked away from planned commitments of $140 million for Truth Social, according to a Securities and Exchange Commission filing.

☆ I’ve been following a woman around the internet. Turns out she was created by artificial intelligence.
▼ + stars: | 2022-10-16 | by ( Evan Ratliff | ) www.businessinsider.com time to read: +31 min

Even in their first efforts, the GAN images were quickly on par with those made by any other, less intelligent software. You can find the results on the Generated Photos site, where you can filter by ethnicity, age, sex, eye color, and other attributes. Generated Photos' GANs tend to match conventional beauty standards, a product of the models that have been fed to the software. I'm not sure anyone would be surprised to find fake images accompanying testimonials on an Estonian bitcoin exchange or an online CBD seller. Are they real people deploying fake images, or fake people deploying fake images?

☆ What Elon Musk has said publicly — and in private texts — about X, his idea for an 'everything app'
▼ + stars: | 2022-10-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

Elon Musk has discussed his plans for X, an "everything app," in Twitter and in private texts. AP Photo/Jacquelyn MartinPrivate texts about a blockchain-based platformMusk has also discussed creating a social media platform built on a blockchain. In April, the billionaire privately outlined his idea for a "Doge" social media platform in texts to his younger brother, Kimbal Musk. "I have an idea for a blockchain social media system that does both payments and short text messages/links like Twitter," Musk texted. A battle against botsOne thing is clear throughout Musk's dealings with Twitter — the billionaire's social media platform will be tasked with eliminating scam accounts.

☆ Twitter seeking documents related to federal investigation of Elon Musk
▼ + stars: | 2022-10-13 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Twitter said in a court filing released on Thursday that it's trying to obtain documents from Elon Musk related to a federal investigation into the Tesla CEO's $44 billion bid for the company. Lawyers representing Twitter said the company first asked for the materials related to the investigation on July 22, and that Musk's legal team has failed to comply, citing "investigative privilege," according to the filing. "Elon Musk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter," the lawyers wrote. Twitter sued Musk in July to try and force him to close the deal. WATCH: Elon Musk denies report that he talked to Russia's Putin recently about Ukraine war."

☆ Elon Musk is under federal investigation over his Twitter deal, Twitter claims
▼ + stars: | 2022-10-13 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

CNN Business —Federal authorities are investigating Elon Musk in connection with his $44 billion acquisition of Twitter, the social media platform said in a court filing Thursday. Twitter’s filing merely said authorities are looking into Musk’s “conduct” linked to the deal. Twitter sued Musk to complete the acquisition, accusing the billionaire of using bots as a pretext to exit a deal that he developed buyer’s remorse over following a market decline. “Twitter’s executives are under federal investigation,” Spiro said in a statement to CNN. “Twitter did not ask Zatko to torch his own documents, much less demand that he do so,” Twitter’s filing read.

☆ Nike is clamping down on resellers botting its apps, but insiders and analysts say new policies don't go far enough
▼ + stars: | 2022-10-12 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

The Wall Street Journal on Tuesday reported on a recent change to Nike's terms of sale. A Nike insider, as well as analysts, said it's a good move, but it won't solve the problem. But Nike's revised terms of sale, while applauded by many, still comes up short of a full solution to its reselling problem, insiders and analysts said. Nike also has policies that prohibit reselling in Europe and South Korea, but they don't specifically state any repercussions. In September, Nike reported a 44% increase in inventory.

☆ Nike moves to curb automated bots and resale market with penalties
▼ + stars: | 2022-10-12 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

Nike shoes are displayed on a shelf a Nike factory store on June 28, 2022 in Milpitas, California. Nike is taking steps to curb the proliferation of sneaker-buying bots and resellers. Previous versions of Nike's terms already prohibited buying products for resale. Nike also added that it can decline refunds, charge restocking fees and suspend the accounts of users it suspects of reselling. Earlier this year, Nike took legal action against online resale marketplace StockX for allegedly allowing sales of counterfeit versions of its sneakers.

☆ Nike Moves to Crimp Resellers and Might Cancel Orders Made Using Bots
▼ + stars: | 2022-10-11 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/nike-moves-to-crimp-resellers-and-might-cancel-orders-made-using-bots-11665506775

☆ Nike to Crack Down on Sneaker-Buying Bots, Dealing a Blow to Resale Market
▼ + stars: | 2022-10-11 | by ( Inti Pacheco | ) www.wsj.com time to read: 1 min

☆ Elon Musk touts big plans for Tesla's Optimus robot, but some experts doubt it's the next big thing
▼ + stars: | 2022-10-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Eight experts told Insider they have doubts about Elon Musk's promises for Tesla's Optimus bot. Several experts said Tesla's AI Day demonstration doesn't stand out from other companies' projects. This year, at Tesla's second annual AI Day a prototype of the Optimus bot walked slowly onto the stage and waved to the audience. The Optimus bot did stand out in one way, according to several experts — its hands. Animesh Garg, a professor of AI Robotics at the University of Toronto, called the bot's hands "impressive."

Oct 11 (Reuters) - As online gaming platform Roblox Corp (RBLX.N) confronts a lawsuit alleging it enabled a California girl's exploitation, its chief scientist said finding dangerous content in the company's virtual world is nothing like spotting it in video. He had no comment on the recent lawsuit but said Roblox was built with safety and civility at the forefront. San Mateo, Calif.-based Roblox is deploying bots to patrol user-generated games and press buttons to detect any dangerous content that players have disguised. Register now for FREE unlimited access to Reuters.com Register"This is more like shutting down speakeasies," he said, referring to U.S. prohibition-era bars hiding from law enforcement. McGuire said Roblox bars users from posting phone numbers or off-platform links.

☆ JPMorgan CEO Jamie Dimon says 'very smart' Elon Musk should 'clean up Twitter' and remove bot accounts
▼ + stars: | 2022-10-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

JPMorgan CEO Jamie Dimon told CNBC he hopes tech billionaire Elon Musk "cleans up Twitter." He expressed concerns about the number of spam accounts on the site. Musk cited bot accounts when he backed down from his Twitter takeover deal earlier this year. "I hope Musk cleans up Twitter," Dimon told CNBC at the JPM Techstars conference in London. The Wall Street Journal reported in 2021 that Musk has spurned the bank for years and that Musk and Dimon have personally clashed.

New York CNN Business —Spam and fake accounts are more prevalent on Twitter than on comparable social platforms, according to a data analysis firm hired by Elon Musk as part of his legal battle with Twitter. Bots on Twitter have been central to the dispute over Musk’s initial attempt to get out of the acquisition deal. Cyabra’s analysisCyabra first made waves in May, after Musk’s deal was first announced. Using publicly available data, the company claimed at the time that spam and bot accounts represented 13.7% of accounts on Twitter. Brahmy said Cyabra did not work with the other data analysis firms used by Musk’s team, and he declined to discuss whether or how much Cyabra was paid to perform the commissioned analysis.

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