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

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

☆ Elon Musk's Twitter just fired thousands of staff. The 'chief twit' has avoided putting his name on any of the layoff memos.
▼ + stars: | 2022-11-04 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +3 min

Elon Musk didn't sign the memo announcing mass layoffs at Twitter. The approach starkly contrasts with other recent layoffs; experts say Twitter's style may hurt in the long run. One expert said Musk's handling of the firings treated workers like "commodities, not like valued employees." Management experts say Musk's "impersonal" approach to layoffs may hurt the company in the long run. Robert Kelley, a management professor at Carnegie Mellon University's Tepper School of Business, said Twitter treated people like "commodities, not like valued employees" in its handling of the firings.

☆ Elon Musk is whipping up chaos at Twitter. It's a terrible playbook for leadership following an acquisition.
▼ + stars: | 2022-11-04 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Since buying Twitter, Elon Musk has fired execs and reportedly asked for 84-hour workweeks. Musk, who rarely sticks to a leadership script, doesn't seem intent on winning employees' trust or providing clarity about the company's future. 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.

☆ Tesla stock has dropped more than 35% since Elon Musk first said he'd buy Twitter
▼ + stars: | 2022-11-04 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

(Photo by Gotham/Getty Images)Since Tesla CEO Elon Musk announced his bid to buy social network Twitter , shares in his electric vehicle maker have dipped by more than 35%, and closed down just 3.6% for the day on Friday, amid a market rally that followed a volatile week. Musk first announced he had agreed to buy Twitter on April 25, 2022. Tesla shares closed that day at $332.67, and closed today at $207.47 capping his first full week of Twitter ownership. He has not said who, if anyone, may replace him as Twitter CEO, although he has told followers on Twitter that his position as sole director and CEO of the social network is temporary. Musk's ownership of the social network has caused some automakers, including GM and Audi, to pause ad spending there.

☆ 'TrumpIsDead' is trending on Twitter after a verified user apparently decided to test moderation of the platform under Elon Musk's reign
▼ + stars: | 2022-11-02 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

A comedian intentionally started the claim, in what could be a test for Elon Musk. Musk's handling of moderation on the platform has quickly become an issue under his leadership. Within an hour, Heidecker's tweets had amassed close more than 20,000 likes, thousands of retweets and #TrumpIsDead began trending on Twitter on Tuesday. —Tim Heidecker: Sole Host of On Cinema (@timheidecker) November 1, 2022Twitter and Musk did not respond to a request for comment. Contact Kali Hays at khays@insider.com, on secure messaging app Signal at 949-280-0267, or through Twitter DM at @hayskali.

WASHINGTON — Which party controls Congress next year could have big implications for Twitter — and its new “Chief Twit,” Elon Musk. A Jordan spokesman had no comment about Musk and Twitter, but Republicans expect the company will be more cooperative with any future GOP investigations with Musk at the helm. But upon taking control of Twitter, Musk said he would first form a “content moderation council,” and Yoel Roth, head of Safety and Integrity at Twitter, insisted that the company’s policies on hate speech have not changed. “If Elon Musk has said now that he’s going to start a content moderation board, that was one good sign, but I continue to be concerned about that,” Klobuchar said. Other Democrats are raising national security concerns about how Musk financed the $44 billion Twitter deal.

☆ Elon Musk, who runs four other companies, will now be Twitter CEO
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter's previous chief, Parag Agrawal, and other top company officials last week. Musk had previously changed his Twitter bio to "Chief Twit" in an allusion to his planned move. Twitter on Monday declined comment on how long Musk might remain CEO or appoint someone else. In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover. Last week, Musk's takeover of the social media company for $44 billion concluded a months-long saga.

WASHINGTON — Sen. Chris Murphy on Monday called for an immediate investigation into the national security implications of Saudi Arabia's stake in Twitter after Elon Musk’s takeover of the social media company. “The purpose of these reviews is clear: to protect the national security interests of the United States and American citizens,” Murphy wrote to Treasury Secretary Janet Yellen, who leads CIFIUS. Late last week, Saudi Arabia’s Kingdom Holding Company and the private office of Prince Alwaleed bin Talal said they would help Musk finance his Twitter deal by rolling over their ownership of shares of the company worth about $1.89 billion, according to a statement tweeted by Alwaleed. Together all the way @Twitter,” Prince Alwaleed tweeted. Saudi Arabia’s sovereign wealth fund, led by Crown Prince Mohammed Bin Salman, owns nearly 17 percent of Kingdom Holding, according to Reuters.

☆ Elon Musk says he will be Twitter CEO
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: 1 min

Oct 31 (Reuters) - Billionaire Elon Musk said on Monday he would be the chief executive officer of Twitter, the social media company he recently acquired for $44 billion. The move comes after Musk, who also runs Tesla (TSLA.O) and SpaceX, fired Twitter CEO Parag Agrawal and other top company officials last week. Musk had also changed his Twitter bio to "Chief Twit" in a sign alluding to this move. Last week, Musk's takeover of the social media company for $44 billion concluded a months-long saga. read moreReporting by Chavi Mehta in Bengaluru; Editing by Anil D'Silva and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Twitter’s new “Chief Twit” spent the weekend tweeting — and it’s still not much clearer what Elon Musk will do with his new company. He denied a report from The New York Times that he planned to make major layoffs Monday ahead of a date when many Twitter employees receive stock grants. Musk has surrounded himself with Silicon Valley veterans, some of whom have criticized Twitter’s moderation work. Later, he appeared to poke fun at his deleted tweet while also taking a swipe at The New York Times. “This is fake — I did *not* tweet out a link to The New York Times!” Musk wrote alongside a screenshot of the Times’ coverage of his deleted tweet.

☆ Elon Musk, with his bombastic tweets, is filling the void vacated by Trump on Twitter
▼ + stars: | 2022-10-31 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Then, when media outlets reported on his irresponsible behavior, Musk assailed them. Like Trump, Musk has eschewed the traditional, more formal style of corporate governance used by his predecessors. Instead of communicating through conventional means, Musk has chosen to make significant news through seemingly off-the-cuff tweets — just like Trump. The worry about Musk’s behavior, however, is not about how he announces changes to the platform. The right has for years lashed out at “blue checks,” whom in their eyes represent elitist gatekeepers who control the conversation, even though many conservatives also don blue badges.

☆ Verified Twitter users may soon have to pay a monthly fee to keep their badges under Elon Musk's leadership: report
▼ + stars: | 2022-10-31 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

"Verified" badges for users may soon become a paid feature of Twitter, sources told Platformer. Sources said there were internal talks of making verification a Twitter Blue feature following Musk's takeover. The Verge reported Twitter Blue may charge as much as $19.99 for the verification-tier subscription. Tying verification to the paid subscription model would establish clearer criteria for getting a badge, as well as generate additional revenue for the social media platform. Musk and representatives for Twitter did not immediately respond to Insider's requests for comment.

☆ Elon Musk has dissolved Twitter's 9-person board of directors and become its sole director
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Elon Musk has scrapped Twitter's board of directors. Musk had himself tried to join Twitter's board in the spring before clashing with then-CEO Parag Agrawal. When first outlining his plans for his ownership of Twitter, Musk said he would need to take the company private to make his desired changes. The same evening, Musk also ousted CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett, sources told Insider. Musk had himself been set to join Twitter's board before he offered to buy the company, but u-turned after clashing with Agrawal over text.

☆ Under Elon Musk's leadership, Twitter could become a 'supercharged engine of radicalization,' critics warn
▼ + stars: | 2022-10-30 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

Elon Musk completed his long-awaited Twitter acquisition on Thursday, immediately firing executives. Critics fear the Tesla CEO, a self-styled free speech absolutist, will usher in more hate speech. Media Matters president Angelo Carusone said Musk will use Twitter "to advance his own red-pilled ideological agenda." "Simply put: Twitter is now on a glide path to becoming a supercharged engine of radicalization," Carusone of Media Matters' statement added. "Under Musk's leadership, Twitter will become a fever swamp of dangerous conspiracy theories, partisan chicanery, and operationalized harassment."

☆ Twitter's Hunger Games: Elon Musk oversees a weekend of coding sprints, stack ranking, and boot-licking as some employees fight to keep their jobs.
▼ + stars: | 2022-10-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

Several Musk allies have been added to a company directory, with Musk being named CEO internally. Elon Musk put Twitter employees to the test this weekend to see who is capable, and willing, of surviving under his new reign. Musk has a 16 year old son, Saxon James Musk, whom he frequently mentions on Twitter, although the Twitter workers have yet to see any confirmation that James Musk is of any relation to their new owner. "This is it," one of the people familiar said, describing the feeling at the company under Musk. Many engineers were tasked over the weekend with "sprints," set periods of time for coding work to be done.

☆ Elon Musk says he's open to allowing longer videos and an extended character count on Twitter
▼ + stars: | 2022-10-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

After taking over Twitter, Elon Musk said he is open to allowing longer videos and tweets on the platform. In a tweet late Saturday, the billionaire and self-proclaimed "Chief Twit" said he was open to letting people post longer videos and tweets. Musk also hinted he'd consider extending the length of videos users can post on Twitter. "Is there a chance of increasing the allowable length of videos so that we can post longer videos? "I'm worried about de facto bias in 'the Twitter algorithm' having a major effect on public discourse," Musk tweeted.

☆ Elon Musk says he has 'no idea who the CEO' of Twitter is after being sent an auto-email telling him 'it's time to start managing'
▼ + stars: | 2022-10-30 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

He was sent an email from the company telling him to start a "managing @Twitter 101" training course. Musk tweeted that he has idea who the CEO is yet, despite calling himself "Chief Twit." Elon Musk was sent an email from Twitter telling him "it's time to start managing @Twitter 101," in reference to a training course about "what it means to be a good manager at Twitter." Musk tweeted on Sunday: "Just received this email from Twitter. Musk responded: "My title is Chief Twit right there in the bio.

☆ Elon Musk manages free speech versus 'hellscape' at Twitter
▼ + stars: | 2022-10-29 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The pressure is mounting on Musk and Twitter as he is set to address the Twitter staff on Friday after closing the deal. Fewer than 10% of 266 Twitter employees who participated in a poll on messaging app Blind expected to still have their jobs in three months. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. Twitter, Musk and the executives did not immediately respond to requests for comment. As news of the deal spread, some Twitter users were quick to flag their willingness to walk away.

☆ Elon Musk is $8 billion poorer after taking control of Twitter, meaning his net worth has fallen by $66 billion this year
▼ + stars: | 2022-10-29 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk took an $8 billion hit to his net worth after buying Twitter, per Bloomberg wealth index. The world's richest man finally sealed his $44 billion deal to acquire Twitter on Thursday. Before sealing the $44 billion deal on Thursday, Musk was estimated to be worth about $212 billion, per Bloomberg. He remains the world's richest man, but Musk's net worth has fallen by $66 billion this year, according to Bloomberg. Musk's net worth peaked in November last year at $338 billion when Tesla shares soared.

☆ Elon Musk names himself CEO of Twitter on internal company profiles
▼ + stars: | 2022-10-29 | by ( Kali Hays | ) www.businessinsider.com time to read: +1 min

As of Saturday afternoon, Musk has been set up under internal profiles at Twitter, including a company directory and Slack, with the CEO title, two people familiar with the changes told Insider. A few days before the deal closed, Musk changed his Twitter bio to read only "Chief Twit." He told employees during a meeting in June that he expected to be the leader of Twitter, but said the title of CEO was not important to him. Since taking over Twitter, Musk has met employees with silence. Meanwhile, he and his personal team of executives and assistants have gone about transitioning operations to Musk's control and planning layoffs, as Insider reported.

☆ Elon’s erratic entry leaves Twitter in chaos as he vows to free suspended users from ‘Twitter jail’
▼ + stars: | 2022-10-28 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

Not only do politicians sometimes stretch the rules in the run-up to elections, but foreign actors aiming to disrupt the process often run operations on social media aiming to spread disinformation. Musk on Friday addressed the Trump question with an effective non-answer: “Twitter will be forming a content moderation council with widely diverse viewpoints,” Musk tweeted. He has said he will run Twitter in a way that hues closer to free speech absolutism. There still has not been an all-hands meeting at Twitter to inform staff of the key decisions and changes underway. Twitter is often referred to as a social media website.

☆ As Elon Musk takes over Twitter, free speech limits tested
▼ + stars: | 2022-10-28 | by ( Sheila Dang | ) www.reuters.com time to read: +5 min

The pressure is mounting on Musk and Twitter as he is set to address the Twitter staff on Friday after closing the deal. Fewer that 10% of 266 Twitter employees who participated in a poll on messaging app Blind expected to still have their jobs in three months. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. Twitter, Musk and the executives did not immediately respond to requests for comment. As news of the deal spread, some Twitter users were quick to flag their willingness to walk away.

☆ Analysis: For Twitter boss Elon Musk, now comes the hard part
▼ + stars: | 2022-10-28 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The long term potential for Twitter in my view is an order of magnitude greater than its current value." "Buying Twitter is an accelerant to creating X, the everything app," Musk tweeted earlier this month. Twitter permanently suspended Trump for risk of further incitement of violence after the Jan. 6, 2021, attack on the U.S. Capitol. Tesla's expanding business in China, where it generated $14 billion last year, could also put Twitter at risk, Goldman, the former Twitter board member, said. Twitter is staffed with experts who review data requests from governments, but Musk has shown his contempt of these experts, he said.

“Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” he said. But Musk said in his post that he is not buying Twitter to "make more money." Yet, given Twitter's reliance on ads, Musk addressed how be believes ads should work on the platform. “It is essential to show Twitter users advertising that is as relevant as possible to their needs," Musk said. That prompted Twitter to sue Musk, teeing up a court trial that was set to start earlier this month before Musk suddenly re-submitted his original offer to avert the contest.

☆ Musk wants Twitter to be 'most respected advertising platform'
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 27 (Reuters) - Elon Musk, who once tweeted "I hate advertising", said he wants Twitter Inc (TWTR.N) to be "the most respected advertising platform", in a bid to gain the trust of ad buyers ahead of the expected close of his $44 billion deal for the social media firm. Musk, Twitter co-founder Jack Dorsey and investors in the deal had previously suggested moving away from advertising and seeking revenue from subscriptions and other means. "There has been much speculation about why I bought Twitter and what I think about advertising. loading"Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand grows your enterprise." Musk also responded with "absolutely" to a tweet calling for top content creators on Twitter to be compensated similarly to other social media platforms.

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