DIRS.INFO The most relevant business & tech news

☆ SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
▼ + stars: | 2022-12-08 | by ( Lora Kolodny | ) www.cnbc.com time to read: +6 min

Ever since, he has enlisted high-ranking executives and engineers from his other businesses, including SpaceX, Tesla and The Boring Company, to help out at the social media company, according to internal records obtained by CNBC and conversations with recent Twitter employees. Musk has also enabled partners from investment firms who participated in the Twitter buyout access to work within the social media company. In his testimony, Musk characterized Tesla employees' work for him at Twitter as "just a voluntary thing." He also said: "This was sort of an after-hours, just if you're interested in evaluating the -- helping me evaluate Twitter engineering, that would be nice. In addition to Tesla employees, Musk has also enlisted execs and employees from SpaceX, the reusable rocket and satellite internet services company he founded in 2002, to help him at Twitter.

☆ Elon Musk is bringing in new faces for Twitter 2.0 — including his cousins and Bari Weiss
▼ + stars: | 2022-12-08 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

The makeup of Elon Musk's Twitter is changing, and not just because the offices are now bedrooms. With the majority of the company's former staff having been laid off — or fired, or resigned — Musk has brought in some of his own picks to work at Twitter 2.0. There's more on the new faces at Musk's social media company below, so let's get to it. Elon Musk is bringing in new faces for Twitter 2.0. And these aren't the only new faces at Twitter — hundreds of people have applied for a chance to work at Musk's new company.

☆ 'Context switching is the mind-killer': Elon Musk shared a strange, altered quote from 'Dune' as he juggles leading Twitter with running 4 other companies
▼ + stars: | 2022-12-07 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk has three times shared an altered version of a famous quote from sci-fi classic "Dune." "Fear is not the mind-killer, context-switching is the mind-killer," Musk tweeted Wednesday. Context switching is the mind-killer," altering the words of a famous passage from the sci-fi series: "Fear is not the mind-killer." Musk's altered quote is taken to mean that switching tasks and contexts repeatedly can be mind-numbing, while maintaining focus on one task is the real winner. The scene Musk posted to Twitter shows the sect member ordering Atreides to put his hand in a box filled with "pain."

☆ Elon Musk has hired two of his cousins to work at Twitter
▼ + stars: | 2022-12-07 | by ( Sam Tabahriti | Kali Hays | ) www.businessinsider.com time to read: +2 min

Elon Musk hired two cousins to work at Twitter, two people familiar with the matter told Insider. Elon Musk took over Twitter in late October and has since laid off thousands of staff. His cousins James Musk and Andrew Musk – sons of the billionaire's uncle on his father's side – now appear to be full-time Twitter employees. Andrew Musk works on software-engineering projects, while James Musk is more of as "a fixer type," helping Elon Musk on various tasks, one insider said. Since Elon Musk took over Twitter in late October, about 70% of the 7,500-strong workforce staff have been laid off, fired or resigned.

☆ Elon Musk keeps bringing in new people to Twitter, like 'enthusiastic' interns, cousins, and even Bari Weiss
▼ + stars: | 2022-12-07 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

CEO Elon Musk has made some dramatic changes to Twitter since taking over five weeks ago. Roughly 150 people are still working at Twitter at Musk's behest from his other companies and ventures, according to two people familiar with the company. Musk's hires at TwitterTwo of Musk's cousins, James and Andrew Musk, appear to now be acting as full-time Twitter employees, both of the people familiar said. Weiss was in the San Francisco office that evening, speaking and "laughing with" Musk, two employees said. Now, Weiss has been given access to Twitter's employee systems, added to its Slack, and given a company laptop, two people familiar with her presence said.

☆ Elon Musk keeps bringing in new people to Twitter, like enthusiastic interns, cousins, and even Bari Weiss
▼ + stars: | 2022-12-07 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

CEO Elon Musk has made some dramatic changes to Twitter since taking over five weeks ago. Roughly 150 people are still working at Twitter at Musk's behest from his other companies and ventures, according to two people familiar with the company. Musk's hires at TwitterTwo of Musk's cousins, James and Andrew Musk, appear to now be acting as full-time Twitter employees, both of the people familiar said. Both men work daily at Twitter offices, with Andrew Musk working on software-engineering projects and James Musk seen more as "a fixer type," one of the people said, helping Musk out with various needs and tasks. Weiss was in the San Francisco office that evening, speaking and "laughing with" Musk, two employees said.

☆ Elon Musk's business confidants are sleeping in new bedrooms at Twitter HQ that have been converted from unused offices. Musk is having one made for him.
▼ + stars: | 2022-12-06 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Twitter HQ in San Francisco now has dozens of bedrooms that have been converted from unused offices. The change is an effort by Elon Musk to save costs when people come to work from out of town. Bedrooms complete with private showers and TV have arrived at Twitter HQ as Elon Musk continues to look for ways to reduce expenses. Dozens of unused offices in the San Francisco building have been turned into bedrooms over the last several days, two people familiar with the changes said. The billionaire has mentioned in emails and in all-hands meetings with Twitter employees that the company is in a "challenging" financial position.

☆ Elon Musk gambled big on Twitter. Tesla is going to pay the price.
▼ + stars: | 2022-12-05 | by ( Vicki Bryan | ) www.businessinsider.com time to read: +13 min

Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." Having observed Musk in action for years there is one troubling option I suspect he may pursue: raid Tesla. But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? Tesla's stock is down more than 50% this year — evaporating nearly $700 billion in market-cap value since its peak in late 2021.

☆ How Elon Musk Could Use Money From Tesla to Prop up Twitter
▼ + stars: | 2022-12-05 | by ( Vicki Bryan | ) www.businessinsider.com time to read: +13 min

Whatever you might think of Twitter, it's hard to watch Elon Musk clumsily flay it alive to "save it." But siphoning cash from Tesla, Musk's only profitable company, just as serious competition is toppling its dominance, should concern Tesla's investors. And given his obsession with Twitter, they may well ask: How far will Elon go to save Twitter at Tesla's expense? How Musk could use Tesla to try and save TwitterMusk cobbled together his Twitter funding primarily by selling off a major chunk of his stock in Tesla and taking out huge loans. Saving Twitter won't kill Tesla anytime soon, and Twitter might not survive unless it does, but Musk is draining Tesla's capacity to weather what could be its toughest challenges ahead.

☆ Morgan Stanley CEO James Gorman defends Elon Musk amid layoffs and chaos at Twitter - and says he's not concerned about the bank's massive loan to the Tesla exec
▼ + stars: | 2022-12-01 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Morgan Stanley's James Gorman defended Elon Musk amid Twitter chaos on Thursday. There have been layoffs and chaos around user verification at Twitter since Musk's takeover. "Twitter is a great company, and Elon Musk is an extraordinary executive. Everyone exited was offered 3 months of severance, which is 50% more than legally required," Musk tweeted on Nov. 4. Gorman says he's unbothered by Musk's social media presence.

☆ Former senior execs say Elon Musk's Boring Company is struggling to retain staff amid culture of long working hours
▼ + stars: | 2022-11-29 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Elon Musk's The Boring Company has struggled to retain employees, former execs told the WSJ. They said Boring Company staff have to work long hours and weekends, similar to Musk's other firms. Staff at The Boring Company are known to work long hours and weekends, the former executives said. Tesla and SpaceX workers have described grueling working conditions to meet Musk's company goals. The Boring Company didn't immediately respond to Insider's request for comment made outside of normal US operating hours.

☆ Twitter CEO Musk says user signups at all-time high, touts features of "everything app"
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +2 min

Nov 27 (Reuters) - Twitter Inc Chief Executive Elon Musk has said that new user signups to the social media platform are at an "all-time high", as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification andhate speech. Signups were averaging over two million per day in the last seven days as of Nov. 16, up 66% compared to the same week in 2021, Musk said in a tweet late on Saturday. Reported impersonations on the platform spiked earlier this month, before and in wake of the Twitter Blue launch, according to Musk. Advertisers on Twitter, including big companies such as General Motors, Mondelez International, Volkswagen AG, have paused advertising on the platform, as they grapple with the new boss. read moreHundreds of Twitter employees are believed to have quit the beleaguered company, following an ultimatum by Musk that staffers sign up for "long hours at high intensity," or leave.

Hi, I'm Matt Turner, the editor in chief of business at Insider. On the agenda today:But up first: Each year, Insider surfaces 100 leaders across 10 industries who are driving unprecedented change and innovation. Ashley Davis from our special projects team is here to take us behind the scenes of this year's list. InsiderIn the past 12 months, business leaders have faced inflation, a polarized political climate, persistent supply-chain issues, the Great Resignation, a real-estate boom, and more. Our editors carefully selected the power players, activists, and pioneers who are shaping the future.

☆ Elon Musk’s $50 billion trial comes to an end today
▼ + stars: | 2022-11-18 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —The trial for the Tesla shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package will wrap up this afternoon. The net value of the compensation package is $50.9 billion today, after Tesla’s valuation soared more than 1,000% at its peak since shareholders approved the package. Several corporate governance experts told CNN Business that it’s clear Tesla’s board of directors lacks independence from Musk. At the time of the 2018 compensation package, Kimbal said it was “very unlikely” that Elon would walk away from his role of CEO at Tesla. That’s just not how Elon operates,” Kimbal Musk said.

☆ Elon Musk runs 3 companies — and his executive juggling act is the perfect example of how the modern CEO job is broken
▼ + stars: | 2022-11-17 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Musk is currently the CEO of three different companies: SpaceX, Tesla, and, of course, Twitter. But like many CEOs, he's accumulated a huge fortune by juggling several companies and directorships at once. While Musk may be an extreme case, he's also the perfect example of the modern CEO: a chaotic blend of unproductive micromanagement and highly-paid absenteeism. In the extreme, some CEOs like Musk have taken on the management of multiple large companies. And Musk isn't the only executive who would be better served focusing on one task.

☆ Elon Musk takes the stand in lawsuit over his Tesla pay
▼ + stars: | 2022-11-16 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Tesla CEO Elon Musk is testifying this morning in a shareholder lawsuit examining the massive compensation package that helped make him the world’s richest person. Musk was awarded the compensation package in 2018, and shareholders approved the deal at the time. They’ve also contrasted Musk’s compensation with the average Tesla salary, which they’ve said is $40,000. Musk’s compensation package goals were characterized t as lofty and incredibly difficult to achieve. This is a developing story and will be updated throughout Musk’s testimony.

☆ Tesla’s board chair says Musk needed money for space travel
▼ + stars: | 2022-11-15 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Elon Musk said that he needed to receive what amounted to the largest compensation package in history so that he could fuel his goals around “inter-planetary travel,” Tesla board chair Robyn Denholm testified Tuesday. Musk has long claimed that he intends to use his vast wealth in pursuit of space travel and colonization. “Quite honestly, I don’t know how much it costs to do any inter-planetary travel. The company’s driving interest in awarding Musk such an enormous compensation package was to keep his focus on Tesla, as opposed to his other companies. Denholm said Tuesday that Musk’s previous compensation package before the 2018 plan wasn’t adequate to keep him engaged at Tesla.

☆ Elon Musk says 'I have too much work on my plate'
▼ + stars: | 2022-11-14 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

[1/2] Elon Musk, Tesla Inc. CEO, is seen on screens as he speaks virtually during the B20 Summit, ahead of the G20 leaders' summit, in Nusa Dua, Bali, Indonesia, November 14, 2022. "I have too much work on my plate that is for sure," Musk said by videolink to a business conference on the sidelines of the G20 summit in Bali. Musk is chief executive of both companies and also runs rocket firm SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company. Responding to an observation that many business leaders in Asia wanted to be the "Elon Musk of the East," Musk said: "I'd be careful what you wish for. "I'm just looking at this video and it's so bizarre," Musk said.

☆ Tesla heads to court to defend Elon Musk’s pay
▼ + stars: | 2022-11-14 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Tesla headed to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on Earth. Even in the rarified air of CEO pay, Musk’s compensation plan stood apart. The Tornetta complaint alleges that the board of directors that created Musk’s compensation plan lacked sufficient independence from him. “This is a huge package,” Hayn said of the compensation plan. Tesla leadershipHayn noted that Musk’s close relationships with the board members could be problematic for Tesla in the case.

☆ Elon Musk heads to court over Tesla pay that made him the world’s richest person
▼ + stars: | 2022-11-13 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Tesla and CEO Elon Musk will spend this week in court to defend the massive compensation package that helped make him the world’s richest man. The week-long trial in Delaware Court of Chancery will examine the 2018 compensation plan that the automaker’s board of directors created for Musk. Even in the rarified air of CEO pay, Musk’s compensation plan stood apart. The Tornetta complaint alleges that the board of directors that created Musk’s compensation plan lacked sufficient independence from him. “This is a huge package,” Hayn said of the compensation plan.

☆ Musk says his companies will remain well positioned in 2023
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Elon Musk, who heads five companies including Tesla Inc (TSLA.O) and Twitter Inc, said in a tweet on Friday that his companies will be well positioned in 2023 despite the possibility of a tough economy. Twitter currently has $13 billion in debt and faces interest payments totaling close to $1.2 billion in the next 12 months. Meanwhile, electric carmaker Tesla added to its inventory in Shanghai, China, at its fastest pace ever in October. Musk told analysts last month that demand was strong in the quarter and he expected Tesla to be "recession-resilient". Musk is also the CEO of satellite internet company SpaceX, brain-chip startup Neuralink and tunneling enterprise The Boring Company.

☆ An early Twitter investor says Elon Musk is 'straight-up alone' and 'winging' his rapid changes to the social media giant
▼ + stars: | 2022-11-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Sacca, an early Twitter investor, referred to Musk's approach to Twitter as "move fast and alone." Speaking about Musk, Sacca said: "I've recently watched those around him become increasingly sycophantic and opportunistic. Sacca said that Twitter would only succeed if Musk added some "desperately needed nuance." Sacca, who was once one of Twitter's biggest shareholders, has been an outspoken critic of the company over the years. He joked on Monday that he was worried he'd get kicked off the platform for posting the thread about Musk.

☆ Elon Musk's futuristic Hyperloop prototype tube has been removed from its place near SpaceX's California headquarters
▼ + stars: | 2022-11-05 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

The Hyperloop prototype tube was removed from its location outside of SpaceX headquarters in Hawthorne, Calif, reports say. The above-ground test tunnel was installed in 2016, but sat idle for years, according to the LA Times. The LA Times reported that Hawthorne Council member Angie Reyes English asked city staff to request the removal of the tube. According to the LA Times, it drew complaints from pedestrians and motorists before the city stepped in to have it dismantled. The ambitious invention would reportedly cut the commute from Los Angeles to San Francisco down to 35 minutes, LA Times reported.

Elon Musk is shaking up Twitter. From the blunt email to Twitter employees about layoffs to angry advertisers, a lot is happening. Insider has exclusive insights from employees, advertisers and others about working with Musk. And this kind of chaos is only the beginning, warns one former SpaceX VP who says Elon Musk can be 'vicious' in the workplace. Rebecca Blackwell/AP PhotoAdvertisers are nervously pausing their spendMusk has been wooing advertisers, his major Twitter customers, but they are wary.

☆ 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.

Search resuls for: "The Boring Company"

25 mentions found