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☆ Elon Musk is about to find out if ultimatums really work
▼ + stars: | 2024-01-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the ultimatum Elon Musk gave Tesla's board amid a critical time for the company. The big storyElon's ultimatumREUTERS/Steve NesiusUltimatums rarely work in relationships, but what about between CEOs and the massive companies they run? Elon Musk is about to find out. Musk, who has roughly a 13% stake in the EV maker, said if his request isn't met, he'll "prefer to build products outside of Tesla." Meanwhile, Ross Gerber, a longtime Tesla bull, said it's "absurd" to think Musk doesn't already have control over Tesla and described his request as "blackmailing the Tesla shareholders."

Persons: —, Antony Blinken, Elon Musk, Steve Nesius Ultimatums, Elon, isn't, didn't, Wedbush's Dan Ives, Musk's, Ross Gerber, Tesla, Dow Jones, George Glover, That's, cowering, Caspar Benson, Jamie Dimon, dory, Trump, Ray Dalio, Biden, Evan Spiegel's, Hokyoung Kim, They've, Kristen Stewart, Christopher Nolan, Maite Alberdi, Celine Song, Eugene Lee Yang, Dave Bautista, Kevin Costner, Estelle, AA Milne, Jay Chou, Jennifer Ortakales Dawkins Organizations: Service, Boeing, Business, Tesla, EV, Apple, Microsoft, Nvidia, Getty, Intellia Therapeutics, Shoals Technologies, JPMorgan, Biden, Bridgewater Associates, Trump, Alliance, Helicopter, BI, Sundance, Northern Trust Locations: Switzerland, Tesla, Northern

☆ Helicopter rides, turmeric facial scrubs, and French lessons: A look at Snap CEO Evan Spiegel's weekly routine
▼ + stars: | 2024-01-17 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +6 min

He then checks Snap, checks his email, and drinks a double espresso, Snap told Business Insider. Snap told BI that he still uses it. Lately, however, he has been spending more time with the monetization team, Snap told BI, as the company focuses on increasing revenue. Before he leaves work, Spiegel tries to check in with the monetization, engineering, and product teams on their progress, Snap told BI. Although he already has his commercial helicopter license, he's currently completing his fixed-wing (airplane) commercial license, Snap told BI.

Persons: —, Evan Spiegel, Spiegel, Miranda Kerr's, Evan Time, he's, Entrepreneur's, — Kerr, Kerr, Orlando Bloom, Snap's monetization, Snapchat's, Joe Scarnici, Stringer, Getty, that's, Miranda Kerr, Stefanie Keenan, Inc Spiegel, Harry Potter, Tesla Organizations: Service, Business, Forbes, New, Wall Street, Financial Times, Inc Locations: unwind, West Coast, California

☆ Snapchat to let parents decide whether their teens can use the app’s AI chatbot
▼ + stars: | 2024-01-11 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Snapchat will now give parents the option to block their teens from interacting with the app’s “My AI” chatbot following some questions about the tool’s safety for young people. Thursday’s announcement is part of a broader set of additions to Snapchat’s parental oversight tool Family Center. The changes are just the latest updates to Family Center, which lets parents supervise the behavior of 13- to 17-year-old users. Snapchat will now let parents decide whether their teen can chat with the app's My AI chatbot. The platform is also aiming to make Family Center easier to find.

Persons: New York CNN — Snapchat, Snapchat, ”, Evan Spiegel, Spiegel Organizations: New, New York CNN, Family, Center, YouTube, Google, Meta Locations: New York

☆ Why Netflix, Disney, and other Hollywood companies are flocking to CES this year
▼ + stars: | 2024-01-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Advertising and marketing pros made up 7% of CES' attendees in 2023, per CES. Look for topics like the creator economy and the rise of artificial intelligence to dominate the conversation for advertisers, Kassan added. And Roku, which is closing in on its search for a new ad sales head, is sending a large contingent. The cost advertisers pay for streaming ads is expected to decline as platforms release more inventory, particularly with Amazon unleashing ads on Prime Video. Advertisers also have more options with the fast-growing FASTs (free, ad-supported streaming TV channels), which primarily offer older TV shows and movies.

Persons: David Benioff, Weiss, Alexander Woo, Amy Reinhard, execs, It's, who'll, Patrick Pannett, Michael Kassan, Evan Spiegel, Kassan, — that's, Rita Ferro, NBCUniversal's Mark Marshall, NBCU's Peacock, NBCUniversal, Peacock, NBCU, Tanner Elton, Amy McDevitt, Ludacris, Jon Steinlauf, GroupM Organizations: Netflix, CES, Business, Consumer Technology Association, Madison Avenue, Walmart, Disney, Nexstar Media Group, Nvidia, Paramount, CTA, Tech, NBC, Bravo, Amazon Ads, Warner Bros, Magna, CTV, Hulu, Intelligence, Prime Video Locations: Las Vegas, Peacock

☆ Snap stock trading at highest price in over a year on Wells Fargo upgrade
▼ + stars: | 2023-12-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Snap notched their highest price in over a year on Monday after analysts at Wells Fargo released a bullish report on the stock. The analysts upgraded the shares from equal weight to overweight and raised their price target from $8 to $22. Snap was trading around $15.75 as of market close Monday, the highest it has been since July 2022. Snap shares closed up more than 4% Monday. The Wells Fargo analysts added that Snap's recent changes to its products and leadership have been key to the company's revenue reacceleration and innovation.

Persons: Evan Spiegel, Spiegel, — CNBC's Michael Bloom Organizations: Wells, Google, Meta, CNBC PRO

WASHINGTON (AP) — A Senate committee has issued bipartisan subpoenas to the CEOs of Discord, Snap and X, demanding that the heads of the three companies testify at a December hearing on protecting children online. Senate Judiciary Committee Chairman Dick Durbin, D-Ill., and South Carolina Sen. Lindsey Graham, the top Republican on the panel, announced Monday that they had issued the subpoenas to Discord CEO Jason Citron, Snap CEO Evan Spiegel and Linda Yaccarino, the CEO of X, formerly known as Twitter, “after repeated refusals to appear” during weeks of negotiations. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” the two senators said in a statement. The committee said that “in a remarkable departure from typical practice," Discord and X refused to accept service of the subpoenas and the panel was forced to enlist the U.S. Durbin and Graham said the committee remains in discussions with both Meta and TikTok and expects their CEOs, Mark Zuckerberg and Shou Zi Chew, to testify voluntarily.

Persons: Dick Durbin, South Carolina Sen, Lindsey Graham, Jason Citron, Evan Spiegel, Linda Yaccarino, “, X, Durbin, Graham, Mark Zuckerberg, Shou Zi Chew, Barbara Ortutay Organizations: WASHINGTON, —, South, Republican, U.S . Marshals Service, Social, Meta, Facebook, Associated Press Locations: South Carolina, Washington, San Francisco

☆ X, Snap and Discord CEOs subpoenaed by lawmakers to testify about child sexual exploitation
▼ + stars: | 2023-11-20 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Lawmakers said Monday that they have issued subpoenas to the CEOs of X, Snap and Discord to compel the executives to testify on a hearing regarding online child sexual exploitation. Marshals Service to personally serve the subpoenas to Discord and X, which they characterized as "a remarkable departure from typical practice." Hearing from the CEOs of some of the world's largest social media companies will help inform the Committee's efforts to address the crisis of online child sexual exploitation." A Discord spokesperson said that, "Keeping our users safe, especially young people, is central to everything we do at Discord." "We have been actively engaging with the Committee on how we can best contribute to this important industry discussion," the Discord spokesperson said.

Persons: Linda Yaccarino, Vox, Dick Durbin, Lindsey Graham, Durbin, Graham, Wifredo Fernandez, Fernandez, Evan Spiegel, they've, Mark Zuckerberg, TikTok's Shou Zi Chew Organizations: The Ritz, Carlton, Lawmakers, U.S . Marshals Service, Big Tech, Twitter, CNBC, Committee, Meta, X Corp Locations: Laguna, Dana Point , California, Canada

☆ US Marshals serve CEOs of X and Discord with congressional subpoenas ahead of Big Tech child safety hearing
▼ + stars: | 2023-11-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —Tech CEOs are once again being summoned to Congress to testify about their business practices — and this time, the US Marshals Service is getting involved. On Monday, the Senate Judiciary Committee said it had subpoenaed three top social media executives — X CEO Linda Yaccarino, Snap CEO Evan Spiegel and Discord CEO Jason Citron — for a Dec. 6 hearing on children’s online safety and content moderation. “At our February hearing on protecting children’s safety online, we promised Big Tech that they’d have their chance to explain their failures to protect kids. In a statement, X said it has been cooperating with the committee. “We have been working in good faith to participate in the Judiciary committee’s hearing on child protection online as safety is our top priority at X,” said Wifredo Fernandez, head of US & Canada government affairs at X.

Persons: —, Linda Yaccarino, Evan Spiegel, Jason Citron —, Mark Zuckerberg, Shou Zi Chew, Yaccarino, Citron, ”, Dick Durbin, Lindsey Graham, X, “, Wifredo Fernandez, ” Meta, didn’t Organizations: CNN — Tech, US Marshals Service, Committee, US, Big Tech, Republican, ” Locations: Sens, Canada

☆ Snap workers say they're being closely 'tracked' to enforce compliance with the RTO mandate
▼ + stars: | 2023-11-16 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Snap is doing what it can to get employees working in the office again. The Snapchat parent at the start of September enacted its return to office mandate , requiring workers to be in an office at least four days a week. Besides that, Snap is also "badge tracking," the people familiar said. Snap workers' adherence to RTO rules will become part of their performance reviews going forward, the people familiar added. Snap's attempts to enforce the RTO mandate come alongside piecemeal layoffs , executive departures , ongoing business struggles, and advertising woes.

Persons: It's, Snap's, Evan Spiegel, Evan, Spiegel, he's, We're Organizations: Business, Meta

☆ Snap employees say CEO Evan Spiegel is in his 'Elon era' and promoting a 'hardcore' work culture
▼ + stars: | 2023-11-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Evan Spiegel is having an "Elon moment," according to a report from the The Information citing staff. The 33-year-old Snap CEO is taking a hands-on approach and asking employees to work harder. Business Insider reported in October that staff in Snap's ad business are struggling with nitpicking and micromanagement. Several employees who left the company recently told The Information that Snap's 33-year-old cofounder and CEO Evan Spiegel is in his "Elon era" or "Elon moment," as he makes decisions emulating the billionaire's "hardcore" work culture at X — formerly Twitter. Snap's advertising business makes up a huge chunk of its revenue.

Persons: Evan Spiegel, Elon, —, Elon Musk, Spiegel hasn't, Musk, Spiegel, Nima Khajehnouri, Jeremi Gorman, Peter Naylor, Snap's, Jerry Hunter, we're Organizations: Business, Service, Employees, Santa Locations: Santa Monica

☆ Snap shares jump on deal with Amazon that lets users buy products without changing apps
▼ + stars: | 2023-11-14 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Snap shares rose 8% on Tuesday after the company confirmed a deal with Amazon that lets users buy products from the online retailer without leaving the app. The agreement follows a similar deal between Meta and Amazon and is designed to make purchasing easier for Snap users. "Customers in the U.S. will see real-time pricing, Prime eligibility, delivery estimates, and product details on select Amazon product ads in Snapchat as part of the new experience," an Amazon spokesperson said in a statement. "In-app shopping with Amazon is available for select products advertised on Snapchat and sold by Amazon or by independent sellers in Amazon's store." Last week, Meta debuted a new feature as part of a deal with Amazon that lets Facebook and Instagram users link their accounts so they can more easily purchase goods they see in Amazon ads without leaving the Meta apps.

Persons: Evan Spiegel, Meta, Maurice Rahmey, they've Organizations: Inc, Amazon, Meta, Facebook, CNBC, Bank of America Locations: New York, U.S, Snapchat

☆ Snap's longtime vice president of engineering and monetization is exiting the company
▼ + stars: | 2023-11-08 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Biswanath Panda, vice president of monetization engineering who reported to Khajehnouri, left the company in May after just a year in the role and joined Uber. Jacob Andreou, Snap's former senior vice president of product and growth, left after working there since 2015 and then joined Greylock. Vice president of product Peter Sellis left Snap in September after eight years, taking on a similar role with Discord. Snap in June hired Eric Young as its new senior vice president of engineering, with Khajehnouri then reporting to him. In addition to Young, Darshan Kantak joined as senior vice president of revenue product, Patrick Harris joined as president of Americas, Ronan Harris joined as president of EMEA, and Ajit Mohan joined as president of APAC.

Persons: Nima Khajehnouri, Khajehnouri, Evan Spiegel, Spiegel, he's, Jeremi Gorman, Peter Naylor, Jerry Hunter, Gorman, Ben Schwerin, Biswanath Panda, Uber, Jacob Andreou, Greylock, Peter Sellis, Hunter, Eric Young, Young, Darshan Kantak, Patrick Harris, Ronan Harris, Ajit Mohan Organizations: Snap, EMEA Locations: Snapchat

☆ Snap conducts a small round of layoffs to its product team
▼ + stars: | 2023-11-08 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Snap has conducted a round of layoffs as part of a reorganization intended to streamline the social-messaging company. Nearly 20 employees who held product management titles were laid off, Snap said in a statement on Wednesday. The layoffs were not centered on any specific product and were part of the company's plans to increase decision-making speed and reduce overhead, the company said. The layoffs come after Snap recently reported third-quarter earnings in which its overall sales grew 5% year-over-year to $1.19 billion, beating analyst expectations. As a result, Snap said it would not provide official guidance "due to the unpredictable nature of war."

Persons: Evan Spiegel, Porte, Susan Li, Sen, Blumenthal, Blackburn Organizations: Snap Inc, Viva Technology, Porte de, Technology, Meta Locations: Paris, France, Israel

☆ Snap sees upbeat fourth quarter as new ad features start to pay off
▼ + stars: | 2023-10-24 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Revenue for the third quarter ended September rose 5% to $1.19 billion, beating analysts' expectations of $1.11 billion, according to LSEG data. For the fourth quarter, the Santa Monica, California-based company expects revenue to be between $1.32 billion and $1.38 billion. Snap, however, said it saw a risk to its sales in the fourth quarter as a war in the Middle East could tamp down spending from a large number of brand-oriented advertising campaigns. Daily active users on Snapchat were 406 million, beating Wall Street expectations of 405.7 million. Snap's net loss widened to $368 million in the quarter from $360 million a year earlier.

Persons: Dado Ruvic, Scott Kesler, Evan Spiegel, Thomas Monteiro, Khushi, Anil D'Silva Organizations: REUTERS, Revenue, Meta, Investing.com, Thomson Locations: Santa Monica , California, Bengaluru

☆ Snap stock rises as sales grow 5% from last year
▼ + stars: | 2023-10-24 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Revenue : $1.19 billion vs. $1.11 billion expected, according to LSEG. : $1.19 billion vs. $1.11 billion expected, according to LSEG. Global Daily Active Users (DAUs) : 406 million vs. 405.7 million expected, according to StreetAccount. : 406 million vs. 405.7 million expected, according to StreetAccount. Average revenue per user: $2.93 vs. $2.74 expected, according to StreetAccount.

Persons: Evan Spiegel, Snap, Spiegel, Jerry Hunter Organizations: Inc, New Locations: , California, U.S

☆ Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap and more
▼ + stars: | 2023-10-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Microsoft — Shares jumped more than 3% after the maker of Windows software and Xbox video games reported fiscal first-quarter results that topped analysts' estimates. Meanwhile, analysts had forecast EPS of $2.65 on $54.50 billion in revenue, according to LSEG, formerly known as Refinitiv. Alphabet — The Google and YouTube parent fell 5% despite beating analysts' estimates on both top and bottom lines in the third quarter. Stride reported 11 cents in earnings per share, while analysts had estimated a loss of 37 cents per share, according to FactSet. Revenue also topped estimates, coming in at $480.2 million, compared to analysts' estimates of $425.2 million.

Persons: LSEG, Evan Spiegel, Stride Organizations: Microsoft —, Microsoft, Google, YouTube, StreetAccount, Visa, Texas, Revenue, Education Locations: Israel, FactSet

☆ Treasury yields are sky high. Here's why you should care
▼ + stars: | 2023-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

It’s no longer “higher for longer,” said Steve Sosnick, chief strategist at Interactive Brokers, it’s just “high for long.”What’s happening: 10-year Treasury yields are flirting with 5% for the first time since 2007, before the global financial crisis. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Fed officials, including Powell, have indicated that rates could be high enough to help lower inflation towards their target goal of 2%.

Persons: ”, Steve Sosnick, Rob Almeida, Powell, they’re, Jerome Powell, Paul McCartney, Darrell Cronk, Anna Bahney, —, ” Lawrence Yun, Snapchat isn’t, Snapchat, Clare Duffy, Evan Spiegel Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Interactive, MFS Investment Management, US Treasury, Treasury, Economic, of New, Financial, “, National Association of Realtors, NAR, Twitter Locations: New York, Ukraine, of New York, Wells Fargo, Northeast, Midwest, South, homeownership

☆ Snapchat isn’t just for teens anymore. Now it needs to make some real money
▼ + stars: | 2023-10-19 | by ( Clare Duffy | ) edition.cnn.com time to read: +10 min

New York CNN —When Snapchat announced last month that it had reached 5 million paying subscribers for its Snapchat+ service, it seemed like a stunning achievement. At 5 million subscribers paying $3.99 per month, Snapchat+ is set to earn around $239 million in annual revenue. That subscriber number is just a fraction of its overall user base of Snapchat, which has quietly become one of the world’s fastest-growing social platforms. The sales declines come as Snapchat, like other platforms, works to update its advertising business to cope with changes to Apple’s app tracking policies. Snapchat has grown its user base by more than 10% year-over-year for the past 16 consecutive quarters.

Persons: Snapchat, Evan Spiegel, it’s, ” Jack Brody, ”, Angelo Zino, Jess Maddox, TikTok Snapchat, ” Brody, you’ve, TikTok, CFRA’s Zino, Scott Kessler, ” Snapchat, Kessler, Brody, Spiegel, “ It’s Organizations: New, New York CNN, Twitter, Facebook, CNN, “, CFRA Research, University of Alabama, YouTube, Intelligence, Meta, Apple Locations: New York, North America, United States, India, Europe, TikTok, Instagram

☆ CNBC Daily Open: Excitement over earnings give markets a ‘relief rally’
▼ + stars: | 2023-10-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Earnings excitementMajor U.S. indexes rallied Monday as investors grew optimistic over strong earnings reports thus far. A bite out of AppleApple's iPhone saw a double-digit decline in sales year over year — and no longer commands the pole position in China's smartphone market, according to Jefferies analysts. Apple lost its spot to Huawei, which now leads smartphone market share after experiencing high double-digit growth.

Persons: Benjamin Netanyahu's, Evan Spiegel, Morgan Stanley, Morgan Stanley's Organizations: CNBC, Apple, Jefferies, Huawei Locations: Israel, Gaza

☆ Snap rises nearly 12% after CEO shares strong 2024 goals with employees
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Snap shares rose nearly 12% on Monday following reports of an internal CEO memo indicating that the social messaging company could post better-than-expected results for 2024. Snap confirmed the numbers cited in the memo with CNBC but characterized them as "stretch, internal goals only." "I know this was an internal memo, but management must have known it was going to leak." Snap shares sank more than 17% in July after it gave guidance for its current quarter that missed analysts' expectations. Correction: An earlier version of this story misstated the nature of the numbers cited in the memo — they were goals, not projections.

Persons: Evan Spiegel, Porte, Bernstein, Mark Schilsky, Schilsky Organizations: Snap Inc, Viva Technology, Porte de, Tech Specialists, CNBC, Meta, SNAP Locations: Paris, France, Russia, Ukraine

☆ Donald Trump and Kim Kardashian weren't rich enough to make Forbes' list of the richest Americans
▼ + stars: | 2023-10-04 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

To make Forbes' 2023 list of the 400 richest Americans, you needed a net worth of $2.9 billion. Forbes' released its annual ranking of the 400 richest Americans on Tuesday, and Trump didn't make the cut. Kardashian, the wealthiest member of the Kardashian-Jenner family with a net worth of $1.7 billion, also didn't make the list. In business, Tim Cook and Sheryl Sandberg, each with an estimated net worth of $1.8 billion, both missed the cut. The top 20 richest Americans are richer than ever before, collectively worth $1.9 trillion, according to Forbes.

Persons: Forbes, didn't, Donald Trump, Oprah Winfrey, Evan Spiegel, —, Kim Kardashian, Tim Cook, Sheryl Sandberg, Trump, Kardashian, Jenner, Jay, LeBron James, Oprah didn't, Charles Munger, Ted Turner, Reid Hoffman, Marc Andreessen, Elon Musk Organizations: Service, Trump, Apple, Forbes, Berkshire Hathaway's, CNN Locations: New York

☆ Snap to close AR division for enterprises months after launch
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

Traders gather at the post where Snap Inc. is traded, just before the opening bell on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 11, 2017. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 27 (Reuters) - Snap Inc (SNAP.N) is shutting its division focused on making augmented reality (AR) services for businesses within months of its launch, as the ad-dependent social media company struggles in a tough economy. Snap, the maker of photo messaging app Snapchat, started AR Enterprise Services (ARES) in March, looking to diversify its revenue beyond digital advertising that makes up the vast majority of its revenue. CEO Spiegel said rising adoption of generative artificial intelligence made it hard for Snap to differentiate its offering that allowed customers to use its AR tech on their sites as companies created their own experiences. Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Evan Spiegel, Spiegel, Chavi Mehta, Shinjini Organizations: New York Stock Exchange, REUTERS, Enterprise Services, Thomson Locations: New York, U.S, Bengaluru

☆ The rise of Snap CEO Evan Spiegel, once one of the youngest billionaires in the world
▼ + stars: | 2023-09-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: 1 min

At the same time, Spiegel was forced to reckon with charges against the lack of diversity in Snap's workforce. Snapchat CEO Evan Spiegel Michael Kovac/Getty ImagesAt an internal meeting in July 2020, Spiegel said that the company keeps its diversity reports private because releasing data would reinforce the idea that minority groups are underrepresented in the tech industry. Later that month, though, the company released its first diversity report. The report broke down employee demographics going back all the way back to when Snap was first founded in 2011. It showed that Black and Latinx employees comprised less than 11% of the company's staff and less than a third of the company's staff identified as women.

Persons: Spiegel, Evan Spiegel Michael Kovac

☆ Billionaire CEOs said working from home made them happier. Some now want to fire workers who don't show up to the office.
▼ + stars: | 2023-08-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.

Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California

☆ Elon Musk’s Quixotic Quest to Turn X Into an ‘Everything App’
▼ + stars: | 2023-07-27 | by ( Ryan Mac | More About Ryan Mac | ) www.nytimes.com time to read: +1 min

Four years ago, a billionaire tech executive leading one of the world’s pre-eminent social platforms laid out a vision to transform it into an app that could do it all. The idea was akin to that of an “everything app” espoused recently by Elon Musk, the owner of Twitter. But the dream belonged to Mark Zuckerberg, the founder and chief executive of Meta, which owns Facebook, Instagram and WhatsApp. Mr. Zuckerberg tried it. So did Dara Khosrowshahi, the chief executive of Uber.

Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, Dara Khosrowshahi, Uber, Evan Spiegel Organizations: Twitter, Meta, “ Locations: Silicon Valley, Asia, Japan’s, KakaoTalk .

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