Twitter is reportedly contemplating taking legal action against Meta, the company behind Threads, a fast-growing rival app to Twitter.
Threads, which was recently launched to a substantial user base, offers similar features and has been positioned by Meta as a “friendly” alternative to Twitter.
Elon Musk, CEO of Twitter, expressed his opinion on the matter, stating that competition is acceptable, but cheating is not. However, Meta has denied allegations made in a legal letter claiming that former Twitter employees were involved in the creation of Threads.
Meta has reported that over 30 million people have already signed up for the new app. While this is a significant number, it represents less than one-tenth of Twitter’s estimated 350 million user base, as per Statista.
It is important to note that US copyright law does not safeguard ideas, meaning Twitter would need to demonstrate in court that its intellectual property, such as programming code, was unlawfully used.
Additionally, Meta holds a patent granted in 2012 for the concept of “communicating a newsfeed,” the system used to display the latest posts on platforms like Facebook.
The potential legal action between Twitter and Meta highlights the competitive dynamics in the social media landscape and the challenges surrounding intellectual property rights within the industry.
Both Mr Musk and Mr Zuckerberg have acknowledged the rivalry over Threads, which is linked to Instagram but works as a standalone app.
As it launched in 100 countries, Mr Zuckerberg broke more than 11 years of silence on Twitter to post a highly popular meme of two nearly identical Spider-Man figures pointing at each other, indicating a stand-off.
Shortly after, and as the word “Threads” trended globally on his platform, Mr Musk said: “It is infinitely preferable to be attacked by strangers on Twitter, than indulge in the false happiness of hide-the-pain Instagram.”
Martin Lewis has alerted the public to a ‘frightening’ new investment scheme that uses a deepfake video of him.
People will lose money, and “lives will be ruined,” according to The Money Saving Expert, who urged authorities to “step up” and ban internet monopolies from producing such stuff.
He tweeted about the clever new scam, saying: “This is a scam by criminals trying to steal money.”
‘This is frightening, it’s the first deep fake video scam I’ve seen with me in it. Govt & regulators must step up to stop big tech publishing such dangerous fakes. People’ll lose money and it’ll ruin lives.’
The AI-generated clip of Mr Lewis purports to show him backing an investment scheme by the social media platform’s owner, Tesla and SpaceX CEO Elon Musk.
In it, the deepfake consumer champion says: ‘Elon Musk presented his project in which he has already invested more than $3 billion.
‘Musk’s new project opens up great investment opportunities for British citizens. No project has ever given such opportunities to residents of the country.’
Mr Lewis, founder of financial advice website MoneySavingExpert.com and host of The Martin Lewis Money Show Live on ITV, which sees him offer advice to members of the public on topics such as the cost-of living-crisis and rising household bills, sued Facebook for defamation back in 2019 after the social media site published scam ads featuring his image.
As part of an out of court settlement, Facebook pledged to create a reporting tool and donate £3 million to Citizens Advice for an anti-scam project.
He has long campaigned against bogus ads using his face to lure users and wants tech giants to be held responsible under new laws.
Speaking to MPs on the Draft Online Safety Bill Joint Committee in 2021, the consumer champion became visibly emotional as he described how lives were being ‘destroyed’ by fraudsters using his image in scam adverts online.
He detailed several scam victims, including a woman with cancer who lost thousands of pounds earmarked for her granddaughter’s wedding, after seeing an advert falsely claiming to be endorsed by him.
‘She said “It’s Martin sponsoring it, it must be all right”’,’ Mr Lewis said. ‘It was a scam, and she lost tens of thousands. She lost £15,000 trying to get back the money initially lost.’
Just one day after releasing a new rival app, Twitter vowed to sue Meta.
Within 24 hours of going live, Threads had 30 million new users sign up.
But now, Twitter’s CEO Elon Musk has warned Meta CEO Mark Zuckerberg via his attorney Alex Spiro that he may face legal repercussions in a letter.
‘Twitter has strong concerns that Meta Platforms (Meta) has engaged in systematic, deliberate, and unlawful misappropriation of Twitter’s trade secrets and other intellectual property,’ the letter said.
It claims that Meta has hired ‘dozens’ of former Twitter employees and that they have access to the company’s ‘trade secrets’.
Mr Spiro also says that many of these employees have ‘improperly retained Twitter documents and electronic devices’, reports Semafor.
He wrote: ‘Twitter intends to strictly enforce its intellectual property rights, and demands that Meta take immediate steps to stop using any Twitter trade secrets or other highly confidential information.’
However, a source at Meta reportedly told Semafor that Twitter’s accusations are baseless.
They said: ‘No one on the Threads engineering team is a former Twitter employee – that’s just not a thing.’
Mr Spiro warned: ‘Twitter reserves all rights, including, but not limited to, the right to seek both civil remedies or injunctive relief without further notice.’
Threads is trying to compete with Twitter by taking advantage of Instagram’s billions of users.
Since Mr Musk’s takeover of the social media platform, Twitter has seen competition from Mastodon and Bluesky among others.
The Threads user interface, however, has a striking resemblance to the microblogging platform.
Mr Zuckerberg only announced the new app on Tuesday, calling it an app built for ‘sharing with text’.
At first glance, the app features an unmistakable Twitter-like feed in Instagram’s signature design.
‘Threads offers a new, separate space for real-time updates and public conversations,’ said Mr Zuckerberg in an announcement.
With Threads, Meta is also trying its hand at a ‘decentralised’ approach like many Twitter alternatives.
Mr Zuckerberg added: ‘We are working toward making Threads compatible with the open, interoperable social networks that we believe can shape the future of the internet.’
Here’s what happened when we tried out Threads for the first time today.
Electric car manufacturer Tesla has announced that it achieved a new milestone by delivering a record number of vehicles in the second quarter, which ended in June.
This surge in deliveries can be attributed to the company’s decision to lower prices in key markets such as the US, UK, and China, in order to enhance its competitive position against rival manufacturers.
The strategy of reducing prices to boost sales seems to have paid off not only for Tesla but also for major Chinese car makers, who also reported a notable increase in sales during the month of June.
Tesla CEO Elon Musk has been vocal about prioritizing higher sales volumes even at the expense of lower profits, believing it to be the right choice for the company’s growth. This approach seems to be validated by the latest results.
On Sunday, Tesla revealed that it delivered an impressive total of 466,140 vehicles in the second quarter, marking a remarkable 80% increase compared to the same period last year.
Moreover, the company reported an uptick in vehicle production, reaching nearly 480,000 units in the same time frame.
“Tesla has made a strategic choice to be a volume manufacturer,” Bill Russo, the founder and chief executive of advisory firm Automobility, told the BBC.
“This was the main contributor to the sales increase, as its mainly higher-volume Model 3 and Model Y benefitted from the price war,” he added.
Dan Ives from investment firm Wedbush Securities told the BBC that “the price cuts in China have been a smart poker move that was massively successful for Tesla”.
China has become a significant market for Tesla, standing as the company’s second-largest market globally, trailing only North America. To maintain its competitive edge in the world’s second-largest economy, Tesla has resorted to cutting prices, as it faces competition from local electric car manufacturers.
Over the weekend, Beijing-based Li-Auto announced that its deliveries reached an all-time high of 32,575 vehicles in June, marking the third consecutive month of record-breaking sales. Additionally, Shanghai-based Nio and Guangzhou-based Xpeng reported significant increases in deliveries, with 10,707 and 8,620 vehicles respectively.
While Tesla has experienced robust growth in China, it has also encountered intensified competition both domestically and internationally, along with the impact of higher borrowing costs for customers. In response, the company has implemented price reductions throughout this year.
In April, Tesla explicitly stated that it had no plans to stabilize vehicle prices, despite the effect of repeated price cuts on its profitability. By adjusting prices to attract more customers, Tesla aims to maintain its market share and sustain its growth trajectory in the face of evolving market dynamics and rising competition.
Elon Musk, the Chief Executive Officer (CEO) of Twitter, has implemented adjustments to address significant levels of data scraping and system manipulation on the social media platform.
As part of these changes, verified accounts will now have a daily limit of reading 10,000 posts. Unverified accounts, on the other hand, will be restricted to 1,000 posts per day, while new unverified accounts can only read 500 posts daily.
Initially, Musk had announced lower limits during the temporary restrictions. The initial announcement stated that verified accounts would be limited to 6,000 posts per day, unverified accounts to 600 posts per day, and new unverified accounts to 300 posts per day.
However, this decision faced opposition, prompting Musk to revise the limits. The revised limits then stood at 8,000 posts for verified accounts, 800 posts for unverified accounts, and 400 posts for new unverified accounts.
Despite the adjustments, social media users continued to express their dissatisfaction, leading Musk to further revise the daily limits to their current levels.
Read more tweets from affected users:
dude, i haven't reached my twitter limit since yesterday. is it actually gone or what?
Answered some tweets and already twitter has said I've reached my limit. I can't even look through my timeline because now it won't let me. Elon is obviously lying because no way are the limits imposed on people hundreds of tweet views; I didn't even manage ANY views.
My twitter is working for the moment. I feel like I'm in a car with the gas needle on empty and the next gas station is 50 miles away. I bet when I get to the gas station, they'll be a sign out front that reads, "You've reached your limit try again later."
My twitter is working for the moment. I feel like I'm in a car with the gas needle on empty and the next gas station is 50 miles away. I bet when I get to the gas station, they'll be a sign out front that reads, "You've reached your limit try again later."
Elon Musk has announced that there would be a temporary cap set on the number of tweets users may read per day on Twitter after hundreds of users experienced access issues.
The chairman of the social networking site tweeted that verified accounts are only allowed to read 6,000 messages every day.
He said that new unverified accounts are only allowed to read 300 posts per day, while unverified accounts can only read 600 posts per day.
The Tesla and SpaceX CEO said Twitter had imposed the ‘temporary limit’ to ‘address extreme levels of data scraping & system manipulation’.
In a later tweet, the billionaire added: ‘Rate limits increasing soon to 8,000 for verified, 800 for unverified & 400 for new unverified.’
It comes after Twitter announced users will be required to have an account on the site to view tweets, a move he called a ‘temporary emergency measure’.
Musk has said hundreds of organisations or more were scraping Twitter data ‘extremely aggressively’, impacting user experience.
He had earlier expressed displeasure with artificial intelligence firms like OpenAI, the owner of ChatGPT, for using the platform’s data to train their large language models.
In the UK, a peak of 5,126 people complained of problems accessing the site at 4.12pm on Saturday after reported outages started coming in at 12pm, according to the website Downdetector – which tracks online outages.
In the US, some 7,461 people complained of issues as of 4.15pm UK time, the site notes.
#Twitterdown and RIP Twitter began trending as frustrated users were faced with a message saying ‘Rate limit exceeded. Please wait a few moments then try again’.
It comes after another outage in February, when many users were not able to tweet, follow accounts or access their direct messages as the platform was plagued by widespread technical problems.
After taking over Twitter, Mr Musk laid off some 80% of its 8,000 global staff – and admitted it resulted in the platform losing a large amount of its functionality.
He also oversaw the scrapping of legacy ‘blue ticks’, which verified a user’s identity and were replaced by a paid-for subscription called Twitter Blue.
High-profile figures and celebrities said the move leaves the platform open to imposters and disinformation.
Users who pay £9.60 a month, or £115.20 annually, receive the blue tick and can make longer tweets up to 10,000 characters.
Other select features available only to subscribers include non-fungible token (NFT) profile pictures, making changes to published tweets and seeing around 50% fewer ads.
Twitter has said that the service ‘elevates quality conversations’.
Entrepreneur Mr Musk, prior to buying the platform, revealed plans to turn it into ‘X, the everything app’.
In December, just weeks after the takeover, Mr Musk tweeted: ‘I will resign as CEO as soon as I find someone foolish enough to take the job.’
The pledge came after millions of Twitter users asked him to step down in a poll Mr Musk created and promised to abide by.
In May, Mr Musk confirmed that advertising executive Linda Yaccarino, formerly of NBCUniversal, was replacing him as Twitter’s chief executive.
Both the Twitter CEO and Facebook founder have agreed to engage in a cage fight, and Musk is wasting no time in his preparations.
Recent reports and accompanying images show Musk actively training with Lex Fridman, a scientist affiliated with the Massachusetts Institute of Technology (MIT).
Fridman, who is also a Brazilian jiu-jitsu Black Belt, took to social media to share two photos of the session.
A noted by talkSPORT, the BJJ Black Belt was impressed by Musk during the session.
“I’m extremely impressed with his strength, power, and skill, on the feet and on the ground. It was epic. It’s really inspiring to see Elon and Mark doing martial arts,” he said.
The South African-born Musk has also accepted an offer from UFC legend, Georges St-Pierre, to train him for the fight against Zuckerberg.
During his childhood, the Space X owner previously trained in Kyokushin karate, taekwondo, judo, and BJJ, while Facebook’s boss has won medals in jiu-jitsu skills at a recent tournament.
UFC Heavyweight champion, Jon ‘Bones’ Jones, has also offered to train Zuckerberg for the fight, which could take place in UFC’s Octagon.
Jon Jones backs Mark Zuckerberg
As Sports Brief reported, Jones has offered Zuckerberg his services ahead of his potential fight against Musk.
Elon Musk and Mark Zuckerberg, two prominent billionaires in the technology industry, have engaged in a playful exchange regarding a potential cage match.
Taking to his Twitter account, Elon Musk expressed his willingness to participate in a cage fight, inviting Mark Zuckerberg to join him.
In response, Mark Zuckerberg, the CEO of Meta, the parent company of Facebook and Instagram, shared a screenshot of Elon Musk’s tweet and replied with the phrase “send me location.”
Mr Musk then replied to Mr Zuckerberg’s response with: “Vegas Octagon.”
The Octagon is the competition mat and fenced-in area used for Ultimate Fighting Championship (UFC) bouts. The UFC is based in Las Vegas, Nevada.
Mr Musk, who turns 52 later this month, also tweeted: “I have this great move that I call ‘The Walrus’, where I just lie on top of my opponent & do nothing.”
He later tweeted short videos of walruses, perhaps suggesting his challenge to Mr Zuckerberg may not entirely be serious.
He also tweeted: “I almost never work out, except for picking up my kids & throwing them in the air.”
In the midst of this playful exchange, it has been noted that 39-year-old Mark Zuckerberg has been actively training in mixed martial arts (MMA) and has achieved victories in jiu-jitsu tournaments.
The online conversation between the two billionaires has quickly gained traction, capturing the attention of social media users. The viral exchanges have sparked debates among users, speculating on the potential outcome of a bout between them.
As a result, numerous memes and mock posters advertising the hypothetical fight have surfaced.
Elon needs to sign a waiver because Zuck will completely destroy him. https://t.co/qeazJGmi0M
The founder of an animal rights organisation has declared that she will leave the KingCharles a piece of her neck when she passes away.
Ingrid Newkirk, a politician, has also declared that she will leave Elon Musk a bit of her heart and one of her legs in her will.
The 73-year-old Ms. Newkirk, who founded Peta (People for the Ethical Treatment of Animals) more than 40 years ago, wants to continue her animal advocacy long after she passes away.
She has asked that, in light of the royal family’s long history of involvement with pigeon racing, the King receive a bit of her neck when she passes away.
Peta claims the necks of losing birds are often wrung after enduring cross-Channel and other races. Many perish during such races.
Ingrid Newkirk has announced what she is going to leave in her will after she dies (Picture: Steve Granitz/WireImage)
Ms Newkirk has also requested in her updated will that some of her bare skin be left to the Ministry of Defence if it is still using real bear skin for the King’s Guards’ caps when faux fur is readily available.
To billionaire and Twitter owner Elon Musk, she will leave a piece of her heart for him to clone in response to his brain implant company Neuralink’s testing on animals.
Ms Newkirk has also asked for one of her legs to be removed and broken after her death and displayed at Aintree racecourse during the Grand National, to draw attention to the injuries horses have sustained during the famous race.
Animal rights campaigners called for jump racing to be banned and more stringent safety measures in the sport after three horses died at this year’s Grand National Festival.
Other requests in Ms Newkirk’s will include for her trachea to be sent to the administrators of dog show Crufts over allegations of the promotion of breathing-impaired breeds, and an ear to the King of Spain in protest against the country’s bullfighting, in which the matador often cuts off the bull’s ears as a trophy.
Ms Newkirk said: ‘On his deathbed, they asked Bob Hope where he wanted to be buried and he replied ‘Surprise me’.
‘In my case, when I die I hope to keep on surprising those who harm animals, provoking conversation about speciesism, and campaigning against animal abuse.’
On Wednesday, Tesla Inc. CEO Elon Musk surpassed luxury mogul Bernard Arnault after shares of Arnault’s LVMH slumped 2.6% in Paris trading.
Musk and the 74-year-old Frenchman have been neck-and-neck for the top spot this year in the Bloomberg Billionaires Index, a listing of the world’s 500 richest people.
Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi and Hennessy.
Faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. LVMH shares have tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.
Musk, meanwhile, has gained more than $55.3 billion this year, largely due to Tesla. The Austin-based automaker — which comprises 71% of his fortune — has rallied 66% year-to-date. Musk’s fortune is now valued at about $192.3 billion, according to the index, while Arnault’s is about $186.6 billion.
Tesla CEO Elon Musk has arrived in China for his first visit to the country in over three years.
He landed in Beijing on Tuesday and is expected to visit Tesla’s large manufacturing plant in Shanghai during his trip.
Upon his arrival, Musk met with China’s foreign minister Qin Gang, highlighting the significance of the visit. However, he has not yet publicly commented on the purpose of his trip, which takes place amidst tensions between the United States and China.
When asked by reporters about his plans for the visit, Musk declined to provide any details as he left a hotel in Beijing on Wednesday.
Later that day, Musk also had a meeting with China’s industry minister Jin Zhuanglong, focusing on discussions related to the development of electric vehicles.
In a statement on Tuesday, China’s foreign ministry said that Mr Musk was willing to expand the car maker’s business in the country, which is Tesla’s biggest market after the US.
The ministry added that during the meeting Mr Musk had described the economies of the US and China as “conjoined twins”.
Tesla did not immediately respond to a BBC request for comment.
Mr Musk has also been uncharacteristically quiet on Twitter, which he owns and where he has more than 141 million followers.
He is known for tweeting many times a day but as of midday on Wednesday had not posted anything since arriving in the country on Tuesday afternoon.
The social media platform is banned in China but it can be accessed through VPNs, or Virtual Private Networks.
Mr Musk is the latest high-profile US executive to make a trip to China. JP Morgan chief executive Jamie Dimon is also in China this week, while Apple boss Tim Cook visited the country in March.
However, as tensions rise between Washington and Beijing Tesla finds itself in a difficult position, Dan Ives from investment firm Wedbush Securities said.
“Playing nice in the sandbox in Beijing is something Wall Street is laser focused on, to make sure there are no disruptions to Tesla’s expansion within China for the coming years,” Mr Ives added.
Image caption,Elon Musk’s private jet at an airport in Beijing on Tuesday
In January 2019, Tesla started building its so-called gigafactory in Shanghai, which was the firm’s first manufacturing plant outside the US.
Later that year, it delivered its first Chinese-made cars, marking a major milestone for the American company.
However, Covid lockdowns across the country, including in the financial, manufacturing and shipping hub of Shanghai, made it increasingly difficult for manufacturers to operate.
Last year, Mr Musk said the coronavirus lockdown of Shanghai was “very, very difficult” for Tesla, which reportedly halted most of its production at its gigafactory for several weeks.
Operations have since resumed at the plant, which produced its millionth car in August, according to Mr Musk. This accounted for a third of Tesla’s global production.
Last month, the company said it planned to build a new factory in China to make its large-scale “Megapack” batteries.
China has also become the largest market for Tesla’s Model Y mass-market electric vehicle, according to market research firm JATO.
More than 94,000 Model Y vehicles were sold in China in the first three months of this year, putting it ahead of the US and Europe, JATO data shows.
In recent years, Tesla’s lead in electric vehicle market has been challenged by increased competition from car making giants, including Ford and General Motors, as well as newer entrants into the market like China’s BYD and Nio.
Mr Musk – who bought Twitter last year for $44bn (£35.5bn) – has been under pressure to find someone else to lead the company and refocus his attention on his other businesses, including Tesla and rocket firm SpaceX.
Earlier this month, he named Linda Yaccarino, the former head of advertising at NBCUniversal as the platform’s new chief executive.
Ms Yaccarino will face the challenge of running a business that has struggled to be profitable, while facing intense scrutiny over how it handles misinformation and hate speech.
Twitter is now worth around a third of what Mr Musk paid for it, according to financial services firm Fidelity Investments, which helped to finance his takeover of the company.
Exactly six months after his contentious takeover of the social media business, Elon Musk has selected a new CEO of Twitter.
The billionaire said Linda Yaccarino, the former head of advertising at NBCUniversal, would oversee business operations at the site, which has been struggling to make money.
He said she would start in six weeks.
Mr Musk will remain involved as executive chairman and chief technology officer.
“Looking forward to working with Linda to transform this platform into X, the everything app,” he wrote on Twitter, confirming the decision a day after he had stoked speculation by writing that he had found a new boss without revealing their identity.
Mr Musk – who bought the social media platform last year for $44bn – had been under pressure to find someone else to lead the company and refocus his attention on his other businesses, which include electric carmaker Tesla and rocket firm SpaceX.
With fewer than 10% of Fortune 500 tech companies headed by women, Ms Yaccarino will become that rare example of a woman at the top of a major tech firm, after rising steadily through the ranks of some of America’s biggest media companies.
Ms Yaccarino was raised in an Italian-American family, with a father who was a police officer and a mother who never went to college.
After graduating from Penn State, she worked at Turner Entertainment for 15 years before joining NBCUniversal, where she oversaw roughly 2,000 people, and was involved with the launch of its streaming service.
Her work has been marked by close collaborations with big brands, finding opportunities for product placement and convincing them to advertise alongside television shows – even ones with a reputation for edgy content, such as Sex and the City when it first launched.
She has also built relationships in new media with the likes of Apple News, Snapchat and YouTube.
A 2005 profile in an industry publication portrayed her as a busy, married mother-of-two children, then aged 13 and 9.
“I have absolutely no hobbies,” she said at the time.
Business Insider’s Claire Atkinson has followed Ms Yaccarino’s career for two decades and said her background in advertising could help Twitter, which has seen its ad sales drop sharply since Mr Musk’s takeover.
“If Twitter are looking to monetise better than they have been, then that would be the place to start and Linda would be the ideal person to make that happen,” the chief media correspondent said.
“She’s the kind of person that I can imagine Elon Musk needs,” Ms Atkinson added. “She won’t be rolled over.”
Indeed, her negotiating style within the industry earned her the nickname the “velvet hammer”, according to the Wall Street Journal in 2012.
Ms Yaccarino will face the challenge of running a business that has struggled to be profitable, while facing intense scrutiny over how Twitter handles the spread of misinformation and manages hate speech.
When Mr Musk first started discussing his plans for Twitter last year, he said he wanted to reduce the platform’s reliance on advertising and make changes to the way it moderated content.
He also said he wanted to expand the site’s functions to include payments, encrypted messaging and phone calls, turning it into something he called X.
But Mr Musk courted controversy when he fired thousands of staff upon his takeover, including people who had been tasked with dealing with abusive posts.
He also overhauled the way the service authenticates accounts, charging for blue ticks in a move critics said would facilitate the spread of misinformation.
Some of the changes raised concerns among advertisers, worried about risks to their brands, who subsequently halted spending on the site.
Mr Musk has acknowledged “massive” declines in revenue, though he told the BBC last month that companies were returning.
At an advertising conference last month Ms Yaccarino interviewed Mr Musk and pressed him on what he was doing to reassure firms that their brands would not be exposed to risk.
“The people in this room are your accelerated path to profitability,” she said. “But there’s a decent bit of sceptics in the room.”
There has also been some instant scepticism at Ms Yaccarino’s appointment on social media, where many were looking for clues to her politics, which reportedly lean conservative.
Her work for the World Economic Forum, an organisation viewed negatively as “globalist” by those on the right, has not been well-received in some quarters along with her role in a coronavirus vaccination campaign featuring Pope Francis.
Others on the left have questioned her political involvement in a White House sports, fitness and nutrition council under former President Donald Trump.
Mr Musk, who has also put women in senior positions at SpaceX and Tesla, is known to be a notoriously unpredictable and demanding boss.
Even the announcement unfolded in an unusual manner, after media reports sparked by Mr Musk’s post that identified Ms Yaccarino appeared to catch her bosses at NBCUniversal off guard.
As of mid-Friday in the US, Ms Yaccarino had still not commented publicly on the move.
Industry watchers will be curious to see how the relationship develops between the New Yorker and the until now hands-on Mr Musk.
Ms Atkinson said the two Twitter executives would be facing “difficult conversations” about how to handle moderation, especially with the 2024 presidential election approaching in the US.
“How long Linda can last under these tricky management situations is anyone’s guess,” Ms Atkinson said.
Elon Musk claims to have hired a new CEO to lead Twitter.
On the social media site, which he had just purchased for $44 billion (£35 billion), he made the announcement.
Mr Musk did not name the site’s new boss but said “she” would start in six weeks, and he would become executive chairman and chief technology officer.
Reports said the incoming leader would be Linda Yaccarino, head of advertising sales at media giant NBCUniversal, which later confirmed her departure.
Mr Musk has been under pressure to name someone else to lead the company and focus on his other businesses.
Last year, after Twitter users voted for him to step down in an online poll, he said: “No one wants the job who can actually keep Twitter alive.”
However, although Mr Musk had said he would hand over the reins, it was by no means clear when or even if it would happen.
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End of twitter post by Elon Musk
Tesla shares rose after the announcement. Mr Musk has previously been accused by shareholders of abandoning Tesla after his takeover of Twitter and damaging the car company’s brand.
“We ultimately view this as a major step forward with Musk finally reading the room that has been around this Twitter nightmare,” said Dan Ives from investment firm Wedbush Securities.
“Trying to balance Twitter, Tesla and SpaceX as CEOs [is] an impossible task that needed to change.”
According to the Wall Street Journal and Variety, NBCUniversal’s Ms Yaccarino was in talks to become Twitter’s chief executive. The speculation surrounding Ms Yaccarino intensified on Friday when NBCUniversal announced she had left the firm.
Twitter did not comment on the reports.
It is sometimes difficult to know when the billionaire and owner of Twitter is being serious.
Last month, when the BBC asked Mr Musk who was going to succeed him as chief executive of the social media company, he said he had made a dog Twitter’s leader.
Watch: Elon Musk says his ‘dog is the CEO of Twitter’
But if Mr Musk has indeed appointed a female executive, it would make her one of the few women to reach the top of a major technology company.
Women accounted for fewer than 10% of chief executives of tech firms included in America’s 500 biggest companies last year.
Although Mr Musk has talked about paid subscribers to Twitter Blue, it is advertising that brings in the vast majority of revenue at Twitter.
The new boss will no doubt seek to improve relationships with advertisers, and smooth their fears over content moderation.
Mr Musk, a self-proclaimed free speech absolutist, has said he took over Twitter to protect free speech. However, advertisers do not want their content next to misinformation or extremist content.
He purchased Twitter in October only after a lawsuit forced him to go through with the deal. Upon taking charge, Mr Musk controversially fired thousands of staff in a bid to cut costs at the firm, which has struggled to be profitable.
In March, Mr Musk said those efforts had paid off and the platform’s finances were improving.
And last month he told the BBC that most of the advertisers that had abandoned Twitter immediately after the acquisition had returned.
Elon Musk, the founder and CEO of Twitter, revealed that he has appointed a woman to lead the social media site and that he will ‘transition’ to other positions inside the business.
I’m happy to report that I’ve appointed a new CEO for X/Twitter. Musk tweeted on Thursday afternoon that She will be starting in “6 weeks.”
“My role will change to executive chair and CTO, overseeing product, software, and sysops,” the employee stated.
Musk withheld the identity of the incoming CEO for the time being.
Musk purchased Twitter in October for $44billion and has faced criticism for changes he’s made to the social media platform.
Soon after becoming the ‘Chief Twit’, Musk fired some executives and hundreds of employees, saying that it was necessary to make the company healthy financially. The company has slashed about 75% of its 7,500 staff.
Musk reinstated some users who were suspended from Twitter, including former President Donald Trump who was banned after his remarks around the deadly January 6 Capitol riot.
He also implemented the Twitter Blue subscription aimed at supplementing revenue from advertising. The subscription allows users to obtain blue checkmark verification for $8 a month, a status previously given to celebrities, politicians, journalists and some other prominent individuals.
In December, Musk launched a poll asking if he should step down as head of Twitter and pledged to ‘abide by the results’. The final results showed that 57.5% of the more than 17million respondents felt ‘yes’, that Musk should step down.
Musk then vowed to leave his post as Twitter CEO once he found someone ‘foolish enough to take the job’.
Twitter’s company name was recently changed to X Corp, which is what ‘X’ referred to in Musk’s tweet.
Some Tesla shareholders were upset that Musk serving as Twitter boss was taking time away from his work with the automaker. Tesla’s shares jumped 2% after Musk’s announcement, signaling that investors were keen on the development.
Elon Musk has revealed that he has identified a new chief executive to head Twitter.
The announcement was made by Musk on the social media platform, which he acquired last year for $44 billion.
Although he did not disclose the identity of the incoming CEO, Musk stated that “she” would assume the role in six weeks.
But what is known is that this individual is a woman.
If Mr Musk has indeed appointed a female executive, it would make her one of the few women to reach the top of a major technology company.
Women accounted for fewer than 10% of chief executives of tech firms included in America’s 500 biggest companies last year.
Musk himself will transition to the positions of executive chairman and chief technology officer.
The decision to appoint a new leader comes amid mounting pressure on Musk to delegate Twitter’s management responsibilities and concentrate on his other ventures.
Last year, after Twitter users voted for him to step down in an online poll, he said: “No one wants the job who can actually keep Twitter alive.”
However, although Mr Musk had said he would hand over the reins, it was by no means clear when or even if it would happen.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
Tesla shares rose after the announcement. Mr Musk has previously been accused by shareholders of abandoning Tesla after his takeover of Twitter and damaging the car company’s brand.
“We ultimately view this as a major step forward with Musk finally reading the room that has been around this Twitter nightmare,” Dan Ives from the investment firm Wedbush Securities said.
“Trying to balance Twitter, Tesla and SpaceX as CEOs [is] an impossible task that needed to change,” Mr Ives added.
According to two US media reports, NBCUniversal’s head of advertising Linda Yaccarino was in talks to become the chief executive of Twitter. The Wall Street Journal and Variety cited people familiar with the matter.
Although Mr Musk has talked about paid subscribers to Twitter Blue, it is advertising that brings in the vast majority of revenue at Twitter.
The new boss will no doubt seek to improve relationships with advertisers, and smooth their fears over content moderation.
Mr Musk, a self-proclaimed free speech absolutist, has said he took over Twitter to protect free speech. However, advertisers do not want their content next to misinformation or extremist content.
He purchased Twitter in October only after a lawsuit forced him to go through with the deal. Upon taking charge, Mr Musk controversially fired thousands of staff in a bid to cut costs at the firm, which has struggled to be profitable.
In March, Mr Musk said those efforts had paid off and the platform’s finances were improving.
Twitter has stripped notable Nigerian musicians of their Legacy verification tick.
The microblogging platform, on Thursday, removed the verification badges of the Nigerian singers, Burna Boy, Davido, Wizkid and Peter Okoye.
Recall that Twitter owner, Elon Musk, had in March, in a tweet accompanied by links to subscribe to the premium program, hinted at plans to commercialize verification tick.
He said, ”We will begin winding down our legacy verified program and removing legacy verified checkmarks on the 1st of April. To keep your blue checkmark, individuals can sign up for Twitter Blue.”
Announcing the final date for the free Blue badge removal on his verified Twitter handle, Elon Musk wrote: “Final date for removing legacy Blue checks is 4/20.”
The removal of the Legacy Blue Tick of the Nigerian superstars may be connected to the non-payment of their verification subscription fee announced by Musk.
Reacting to his Blue Tick removal, in a tweet on Friday, Peter Okoye said, ”Elon Musk is a businessman period.”
In a test flight that its creators, SpaceX, hoped would take the first step on a human voyage to Mars, the biggest and most potent rocket ever built launched from Texas but blew up within minutes.
The 120-meter Starship rocket system launched on Thursday at 8.33 am local time (2.33 pm in the UK), following a launch that was postponed earlier this week due to a pressurization issue. About four minutes after departing the ground, it gained speed before beginning to spin at an altitude.
It looked that the booster and cruise vessel of the rocket system couldn’t fully separate after takeoff, which may have contributed to the spacecraft’s failure.
http://tigpost.co/spacexs-starship-takes-off/
SpaceX had earlier issued a warning that the chances of success were slim and that the test flight’s primary goal—regardless of whether the complete mission was accomplished—was to gather data. Even after the rocket burst, SpaceX employees continued to applaud.
“As if the flight test was not exciting enough, Starship experienced a rapid unscheduled disassembly before stage separation,” SpaceX said in a statement on Twitter, referring to the explosion.
Congrats @SpaceX team on an exciting test launch of Starship!
The Starship cruise ship, which is intended to eventually take up to 100 astronauts, was put on top of the Super Heavy booster rocket, whose 33 Raptor engines delivered the enormous power required for the unmanned sub-orbital test, making it the first “fully stacked” trial.
The enormous spacecraft is over three passenger planes long and is 10 meters taller than the Saturn V rocket that launched explorers to the moon in 1969.
Musk said he developed Starship, previously named the BFR (heavily hinted to mean Big Fucking Rocket), so humans could eventually become an interplanetary species. To do this, he intends to begin the colonisation of Mars, which he said was needed to preserve humanity in case a planet-destroying event, such as nuclear war or an asteroid strike, wipes out life on Earth.
SpaceX claims Starship, which has a payload capacity of up to 150 tons, will be able to transport dozens of people on long-duration interplanetary flights. It already has a privately funded trip for 11 people around the moon scheduled for this year, although that timing now appears unrealistic.
The company has announced longer-term plans to also use the spacecraft as a shuttle for commercial travel on Earth, promising trips from London to Tokyo in under one hour.
The Starship test flight is now over, after experiencing what engineers have called a “rapid unscheduled disassembly” during ascent.
“To make it this far is amazing,” engineers say, after the rocket cleared its tower and successfully lifted off.
“You never know what’s going to happen,” they say, adding that “Starship gave us an exciting end to an incredible test”.
“As if the flight test was not exciting enough, Starship experienced a rapid unscheduled disassembly before stage separation,” the company tweeted.
What a launch – seeing Starship head skywards, its 33 engines burning as it slowly pushed upwards into the blue Texan sky, was quite something. It passed a key point – clearing the tower and not blowing up the launch pad infrastructure.
SpaceX call this a rapid unscheduled disassembly. But even though the company wanted this test to go further, they won’t call this a failure.
There were still cheers at SpaceX HQ even when the rocket went up in smoke. The fact that the rocket got off the ground is a start – they’ll assess what went right and what went wrong – and then have another go.
The ultimate objective is to have both halfof the vehicle conduct controlledlandings so they may be refuelled and utilised repeatedly, even if both segments would end the day on the ocean floor.
Nobody knows how long it will take to develop this skill. Nonetheless, a successful effort would be transformative.
A bright future should be possible given the potential payload performance to orbit of more than 100 tonnes per trip and the low cost of operation, which is primarily only the cost of fuel.
“We’ve got an arduous two or three years ahead of us with, probably, you know, many bumps on the road, but at the end of that, we should have something that enables a base on the Moon and a base on Mars,” Mr Musk said this week.
Mr Musk has tried to set expectations low for the test flight, which will begin at Boca Chica, on the the US-Mexico border.
Just getting the vehicle off the ground and not destroying the launch pad infrastructure would be considered “a win”, he said.
SpaceX will again open a live stream on its website about 45 minutes before lift-off.
The top segment of Starship, also known as the ship, has taken flight previously on short hops, but this will be the first time it will launch with its lower-stage.
This immense booster, called simply Super Heavy, was fired while clamped to its launch mount in February. However, its cluster of engines on that occasion were throttled back to half their capability.
Image caption,Mr Musk’s fear is that a launch pad explosion would destroy valuable infrastructure
If, as promised, SpaceX goes for 90% thrust on Thursday, the stage should deliver something close to 70 meganewtons. This is equivalent to the force needed to propel almost 100 Concorde supersonic airliners at takeoff.
It’s also double the thrust achieved by the Saturn V rocket that famously sent men to the Moon in the 1960s and 70s.
The aim is to despatch the ship on a near-orbital trajectory that concludes with it splashing down in the Pacific, a couple of hundred km north of Hawaii.
Super Heavy, which powers the first two minutes and 50 seconds of flight, will try to return close to the Texas coast once its lifting job is done.
It will be commanded to make a vertical hover just above the Gulf’s waters, before being allowed to topple over and sink.
Although both segments will end the day on the seafloor, the ultimate goal is to have both halves of the vehicle perform controlled landings so they can be refuelled and reused, repeatedly.
How long it will take to achieve this capability is anyone’s guess. But if the project is successful, it would be transformative.
The prospective payload performance to orbit of more than 100 tonnes a flight, allied to the low cost of operation – principally, just the cost of fuel – should open the door to an exciting future.
“We’ve got an arduous two or three years ahead of us with, probably, you know, many bumps on the road, but at the end of that, we should have something that enables a base on the Moon and a base on Mars,” Mr Musk said this week.
In a separate tweet, in the discussion about the social media platform’s data, Mr Musk said he was “open to ideas”.
“But ripping off the Twitter database, demonetizing it (removing ads) and then selling our data to others isn’t a winning solution,” he added.
In February, Twitter started charging for the data it collects from “hundreds of millions” of users, with a basic plan starting at $100 a month.
The data allows users to “manage and track every aspect of your social media presence”, according to the platform.
Since buyingTwitter for $44bn (£35.4bn) in October, Mr Musk has cut its workforce by around 80% and moved to boost the company’s finances through measures including charging users for “blue tick” verification.
In recent months, major companies including iPhone maker Apple reportedly halted advertising on the platform over concerns about how content was moderated on the site.
In November, Mr Musk said Twitter had seen a “massive” drop in revenue and blamed activists for pressuring advertisers.
Speaking to the BBC last week, he said Twitter had just months left to live when he took over. He also said “almost all advertisers have come back or said they are going to come back” to Twitter.
Mr Musk added that Twitter could be profitable by the second quarter of 2023, and he would be willing to sell the company if the right person came along.
The most powerful rocket ever developed is about to attempt a maiden launch.
The vehicle, known as Starship, has been built by the American entrepreneur Elon Musk’s SpaceX company.
It stands almost 120m (400ft) high and is designed to have almost double the thrust of any rocket in history.
Monday’s uncrewed demonstration will lift off from Boca Chica in Texas. The aim is to send the upper-stage of the vehicle eastward, to complete almost one circuit of the globe.
Mr Musk has appealed for everyone to temper their expectations. It’s not uncommon for a rocket to experience some kind of failure on its initial outing.
“It’s the first launch of a very complicated, gigantic rocket, so it might not launch. We’re going to be very careful, and if we see anything that gives us concern, we will postpone the launch,” he told a Twitter Spaces event.
“If we do launch, I would consider anything that does not result in the destruction of the launch pad itself to be a win.”
SpaceX will try to get Starship airborne at 08:00 local time (13:00 GMT; 14:00 BST).
It’s anticipated thousands of spectators will try to reach coastal locations on the Gulf of Mexico to witness the event.
Elon Musk is hoping to completely upend the rocket business with Starship.
It’s designed to be fully and rapidly reusable. He envisages flying people and satellites to orbit multiple times a day in the same way a jet airliner might criss-cross the Atlantic.
Indeed, he believes the vehicle could usher in an era of interplanetary travel for ordinary humans.
Image caption,The booster was held on the ground when its engines were ignited for a “static fire” test
The top segment of Starship has been tested previously on short hops, but this will be the first time it will go up with its lower-stage.
This mammoth booster, called simply Super Heavy, was fired while clamped to its launch mount in February. However, the engines on that occasion were throttled back to half their capability.
If, as promised, SpaceX goes for 90% thrust on Monday, the stage should deliver something close to 70 meganewtons. This is equivalent to the force needed to propel almost 100 Concorde supersonic airliners at takeoff.
Assuming everything were to proceed as planned, Starship will rise up and head down range across the Gulf, the 33 engines on the bottom of the methane-fuelled booster burning for two minutes and 49 seconds.
At that point, the two halves of the rocket will separate, and the top section, the ship, will push on with its own engines for a further six minutes and 23 seconds.
By this time, it should be travelling over the Caribbean and cruising through space more than 100km above the planet’s surface.
SpaceX wants the Super Heavy booster to try to fly back to near the Texan coast and come down vertically, to hover just above the Gulf’s waters. It will then be allowed to topple over and sink.
The ship is aiming to re-enter the Earth’s atmosphere after almost a full revolution of the Earth, coming down in the Pacific just north of the Hawaiian islands. It’s been given protective tiling to cope with the immense heating it will experience during the descent. A bellyflop into the ocean is timed to occur 90 minutes after lift-off.
In the longer term, SpaceX expects both the booster and the ship to be making controlled landings so they can be refuelled and relaunched.
The company has been experimenting at Boca Chica with different approaches to building the steel vehicles.
There are various models waiting their turn to take flight.
One of the most interested spectators on Monday will be the US space agency, Nasa.
It is giving SpaceX almost $3bn to develop a variant of Starship that is planned to land astronauts on the Moon.
Garrett Reisman, a professor of astronautical engineering at the University of Southern California, says Mr Musk has the ambition to go even deeper into the Solar System.
“He sees Starship as potentially another giant paradigm shift, an incredible increase in capability – the capability to truly bring people on large scale to Mars,” the SpaceX advisor and former astronaut told BBC News.
“There’s a lot of potential benefit, but there’s also a lot of potential risk because this is very difficult. Nobody’s built a rocket anywhere near this big – twice as big as the next nearest thing.”
Elon Musk’s SpaceX is preparing to launch its own creation, which might carry nearly twice as much power than anything flown previously, just a few months after NASA exposed the world to the most powerful rocket ever flown to orbit.
At SpaceX’s facilities along the southern Texas coast, a vehicle with the name of Starship is presently perched on a launch pad. Although the company can launch at any moment between 8 a.m. CT (9 a.m. ET) and 9:30 a.m. CT (10:30 a.m. ET) on Monday, that is the time it is aiming for.
“I guess I’d like to just set expectations low,” SpaceX CEO Elon Musk said during a Twitter “Spaces” event for his subscribers Sunday evening. “If we get far enough away from launch pad before something goes wrong, then I think I would consider that to be a success. Just don’t blow up the pad.”
He added: “There’s a good chance that it gets postponed since we’re going to be pretty careful about this launch.”
It will be SpaceX’s first attempt to launch a fully assembled Starship vehicle, building on a years-long testing campaign.
Musk has talked about Starship — making elaborate presentations about its design and purpose — for half a decade, and he frequently harps on its potential for carrying cargo and humans to Mars. Musk has even said that his sole purpose for founding SpaceX was to develop a vehicle like Starship that could establish a human settlement on Mars.
Additionally, NASA has already awarded SpaceX contracts and options worth several billions of dollars to use Starship to ferry government astronauts to the surface of the moon under the space agency’s Artemis program.
The inaugural flight test will not complete a full orbit around Earth. If successful, however, it will travel about 150 miles above Earth’s surface, well into altitudes deemed to be outer space.
Starship consists of two parts:the Super Heavy booster, a gargantuan rocket that houses 33 engines, and the Starship spacecraft, which sits atop the booster during launch and is designed to break away after the booster expends its fuel to finish the mission.
The massive Super Heavy rocket booster will give the first blast of power at liftoff.
Less than three minutes after takeoff, it’s expected to expend its fuel and separate from the Starship spacecraft, leaving the booster to be discarded in the ocean. The Starship will use its own six engines, blazing for more than six minutes, to propel itself to nearly orbital speeds.
The vehicle will then complete a partial lap of the planet, reentering the Earth’s atmosphere near Hawaii. It’s expected to splash down off the coast about an hour and a half after liftoff.
SpaceX tries, fails to catch part of rocket with net
Starship’s ultimate success or failure immensely consequential. Not only is it crucial to SpaceX’s future as a company — it also underpins the United States government’s ambitions for human exploration.
But it’s not all riding on this inaugural test flight. SpaceX has long established its willingness to embrace mishaps, mistakes and explosions in the name of refining the design of its spacecraft.
In the lead-up to the first launch of the company’s Falcon Heavy rocket in 2018, which held the title of most powerful rocket before NASA’s SLS took flight last year, Musk foresaw only a 50-50 chance of success.
“People (came) from all around the world to see what will either be a great rocket launch or the best fireworks display they’ve ever seen,” Musk told CNN at the time.
The inaugural Falcon Heavy launch was ultimately successful.
Watch yet another SpaceX prototype explode
01:26 – Source: CNN Business
Development of Starship has been based at SpaceX’s privately held spaceport about 40 minutes outside Brownsville, Texas, on the US-Mexico border. Testing began years ago with brief “hop tests” of early spacecraft prototypes. The company began with brief flights that lifted a few dozen feet off the ground before evolving to high-altitude flights, most of which resulted in dramatic explosions as the company attempted to land them upright.
One suborbital flight test in May 2021, however, ended in success.
Since then, SpaceX has also been working to get its Super Heavy booster prepared for flight. The massive, 230-foot-tall (69-meter-tall) cylinder is packed with 33 of the company’s Raptor engines.
Fully stacked, Starship and Super Heavy stand about 400 feet (120 meters) tall.
SpaceX has been waiting more than a year to get FAA approval for this launch attempt.
The company, and federal regulators tasked with certifying SpaceX launches won’t pose risks to people or property in the area surrounding the launch site, have faced significant pushback from the local community, including from environmental groups.
But the Federal Aviation Administration, which licenses commercial rocket launches, announced Friday, April 14, that it granted the company’s request for an uncrewed flight test of the rocket out of the SpaceX facilities in South Texas.
“After a comprehensive license evaluation process, the FAA determined SpaceX met all safety, environmental, policy, payload, airspace integration and financial responsibility requirements,” the agency said in a statement.
During a call with reporters last week, an FAA official, who declined to be named for publication, said that the agency has been overseeing SpaceX’s compliance with the mitigating actions, some of which are still in the works, even as the company prepares for launch.
The FAA official said government personnel will be on the ground to ensure SpaceX complies with its license during the test launch.
SpaceX’s contract with NASA to use Starship for the space agency’s Artemis III moon landing later this decade leaves much of Starship’s development work to SpaceX. A $2.9 billion deal, inked in April 2021, was awarded to SpaceX over several competitors. It was later expanded to include a second lunar landing mission in 2027.
NASA has been working over the past year to hash out a work flow between the space agency and SpaceX. It’s a dynamic the two organization have had to iron out in previous SpaceX-NASA projects, including an ongoing partnership that uses SpaceX’s Dragon spacecraft to get astronauts to and from the International Space Station.
A moon mission, however, involves more powerful and complex hardware.
NASA is not, however, involved in planning the flight profile for this test flight or directing SpaceX on what to do, according to Lisa Hammond, NASA’s associate program manager of the Human Landing System at Johnson Space Center in Houston.
Hammond did not share a specific checklist of tests or flights that NASA hopes to see before Starship is entrusted with a moon landing mission.
“I would not put it with a number,” she said, adding that the Artemis II mission, slated for next year, will see humans fly atop the SLS rocket after only one uncrewed test flight.
“The confidence comes in the design, the confidence comes in the safety of the vehicle for the crew,” Hammond said.
SpaceX president Gwynne Shotwell previously said she hopes the company will conduct more than 100 orbital test flights of Starship before putting humans on board, as the company will need to do in order to help NASA carry out its moon landing with the Artemis III mission, slated for 2025.
“I think that would be a great goal,” Shotwell said Wednesday, when asked whether that target was still feasible. “I don’t think we will do 100 flights of Starship next year, but maybe (in) 2025 we will do 100 flights.”
NASA’s current timeline targets 2025 for the first lunar landing mission, which will see astronauts transfer from their Orion capsule, which will launch atop a NASA Space Launch System rocket, and into a Starship spacecraft already in lunar orbit. It will be the Starship vehicle that ferries the crew down to the lunar surface.
It’s not clear, however, if 2025 is feasible. NASA’s inspector general has already suggested it is not. Delays, according to comments from the inspector general in March 2022, could revolve around Starship.
Elon Musk defended his management of Twitter in a rare and in-depth interview with the BBC. James Clayton, the BBC’s technology correspondent, spent close to an hour questioning the second-richest man in the world at the Twitter offices in San Francisco.
Here are six things we learned.
1. He denies hate speech on Twitter has spiked
Mr Musk refused to accept there was more hateful content on the platform since he took over.
Speaking to the BBC earlier this year, some Twitter insiders have argued that the company is no longer able to protect users from trolling, state-coordinated disinformation and child sexual exploitation, following lay-offs and changes under owner Mr Musk.
In March, Twitter said it removed 400,000 accounts in one month alone to help “make Twitter safer”.
In order to assess Mr Musk’s claims fully you’d need two things which we don’t have at present – access to Twitter’s data before and after his takeover and, crucially, a clear understanding of how he defines misinformation and hate speech.
There is no blanket definition of hate speech under American law, which is generally much more permissive than other countries because of the first amendment to the US Constitution.
2. He voted for Joe Biden
Close to half the country voted forMr Trump in the last US election, Mr Musk said, but he added: “I wasn’t one of them. I voted for Biden.”
In another part of the interview, he defended ending a Twitter ban on Mr Trump who had been removed in 2021 when the platform accused him of inciting violence.
3. He says Twitter is beating the bots in war on disinfo
Mr Musk claimed his efforts to delete bots – automated accounts – had decreased misinformation on Twitter after his takeover.
“My experience is there is less misinformation rather than more,” he told our reporter.
Some outside experts disagree. A study from Newsguard which tracks online misinformation – and there are quite a few other studies along the same lines – found that engagement with popular, misinformation-spreading accounts spiked after Mr Musk’s takeover.
In the week following his acquisition of Twitter, the most popular, untrustworthy accounts enjoyed an almost 60% increase in engagement in the form of likes and retweets, according to the survey.
The BBC has also independently analysed more than 1,000 previously-banned accounts that had been let back on Twitter after Mr Musk’s takeover, and found that since being reinstated, over a third of them had spread abuse or misinformation.
This included false anti-vax claims, misogyny and anti-LGBT rhetoric, and the denial of the 2020 US election result.
4. He’s against banning TikTok
Mr Musk says he doesn’t use the most downloaded app in the US but he is against any moves to close it down.
The US is considering a ban due to security concerns over TikTok’s Chinese ownership. Some other countries have banned it from the phones of government employees.
“I’m generally against banning things,” said Mr Musk, although he says a ban would benefit Twitter because it may mean more people spending time on his platform.
5. He would turn down $44bn for Twitter
Mr Musk initially claimed in the interview that if someoneoffered to buy Twitter right now for what he paid for it, he’d refuse.
If he did sell, he said it would be more important to find a buyer who cherishes the “truth” rather than how much they’d pay because, as he says: “I don’t care about the money.”
But is that true? Remember, he desperately tried to back out of the deal.
Mr Musk said Twitter had just months left to live when he took over and was being run like a non-profit.
Twitter’s costs were outstripping the amount of revenue it was generating. In its last full-year results published before Mr Musk took over, total sales hit $5bn in 2021 but costs and expenses reached $5.5bn. In fact, it has only had two profitable years since 2012.
He reckons Twitter is now close to breaking even. No wonder – sacking 6,500 workers does tend to lighten one’s costs.
But he has also been proactive in finding ways to boost sales through things such as changing Twitter users for “blue tick” verification.
So yes, Twitter might be nearing breaking even now because of drastic cost-cutting. But the question is whether it can sustain that path to profitability and make the company worth that $44bn price tag.
6. He will back down on how BBC is labelled
Mr Musk confirmed he would change the BBC Twitter label from “government funded” to “publicly funded” after last week’s row.
The BBC had objected to the original description, stressing the corporation’s independence. It is mainly funded by the British public through a TV licence fee.
In Wednesday’s interview, Mr Musk said: “If we use the same words as the BBC uses to describe itself, that presumably would be OK.”
The licence fee made up about 71% of the BBC’s total income of £5.3bn in 2022 – with the rest coming from its commercial and other activities like grants, royalties and rental income.
The BBC also receives more than £90m per year from the government to support the BBC World Service, which predominantly serves non-UK audiences.
Elon Musk has been demoted from the top slot for the wealthiest person in the world, marking another upheaval.
Chairman of French luxury goods brand, LVMH Bernard Arnault, saw his net worth increase by $3.1 billion to $211 billion as of March 10, 2023, according to Forbes Magazine.
This would be the first time the shares of the luxury good brands hit a record high.
Bernard Arnault becomes the only third person to attain the feat after Elon Musk’s Tesla and and Jeff Bezoz’s Amazon also reached the milestone.
Elon Musk was the previous holder of the top position until his net worth dropped following a dip in share prices after he took over Twitter, and troubles at his Tesla company.
The recent development in Bernard Arnault’s net worth, according to a Bloomberg index, showed that his wealth increase has so far increased by $39 billion, as shares in LVMH have risen 30 percent – due to a surge in demand across the world among rich patrons.
In addition to his LVMH brand, Bernard Arnault’s company also owns champagne brand, Moët & Chandon, Christian Dior, and Louis Vuitton, where he serves as Chairman and Chief Executive Officer.
In 2022, the luxury goods brand recorded sales amounting €79.2 billion. The company also commenced a €1.5 billion share buyback programme, which has helped increase its share price.
The French billionaire, first co-founded the luxury goods group [LVMH] some 35 years ago and maintains majority shareholding in the company.
He has since appointed his children to serve in key position within the business venture, which is widely patronized across the world.
In January 2023, Bernard Arnault appointed his eldest child to serve as Head of Christian Dior, while the other children have also been given key roles spanning across different brands.
In 2022, LVMH recorded €79.2 billion in sales, while its revenue surpassed €20 billion. The company also recently named US musician, Pharrell Williams, as its new menswear designer for Louis Vuitton following the demise of Virgil Abloh.
In an interview with the BBC late on Tuesday, Elon Musk said that since taking over Twitter, the firm had let go of more than 6,000 employees.
The social networking site now only has 1,500 employees, down from under 8,000 at the time of his acquisition, according to Musk.
The layoffs represent over 80% of the company’s workforce.
At Twitter’s headquarters in San Francisco, the billionaire CEO told the British broadcaster that it’s “not fun at all” and at times “painful.”
The world’s second richest man said that “drastic action” was needed when he came on board, because the company was facing “a $3 billion negative cash flow situation.” That left Twitter (TWTR) with only “four months to live,” he estimated.
“This is not a caring [or] uncaring situation. It’s like, if the whole ship sinks, then nobody’s got a job,” Musk said.
Musk purchased Twitter for $44 billion last October.
After initially offering to take over the company in April 2022, he attempted to get out of the deal, citing concerns over how many bot accounts it had. He has since radically overhauled Twitter: firing top executives, slashing jobs and enacting new policies on how user accounts are verified or labeled.
Since then, Twitter is now “roughly” breaking even and advertisers are returning to the platform, he told the BBC.
Musk also pledged to revise the label applied to the British broadcaster, from “government-funded” to “publicly-funded” after the BBC objected.
The designation was added over the weekend. The BBC had protested the move, saying that it “is, and always has been, independent.”
“We are funded by the British public through the licence fee,” it said at the time.
Musk also weighed in on US scrutiny of TikTok, saying that while he was not a user of the Chinese-owned app, he was usually “against banning things.”
“I mean, it would help Twitter, I suppose, if TikTok was banned, because then people would spend more time on Twitter and less on TikTok,” he mused.
“But even though that would help Twitter, I would be generally against banning of things.”
Musk also cracked jokes during the interview, saying that he was “no longer the CEO of Twitter” and had been replaced by his pet dog, a Shiba Inu named Floki.
Elon Musk has revealed that running Twitter has been “quite painful” and “a rollercoaster”, in an interview with the BBC.
The multi-billionaire entrepreneur also said he would sell the company if the right person came along.
The interview, aired live from Twitter HQ, covered the mass lay-offs, misinformation and his work habits.
Mr Musk, who also runs car maker Tesla and rocket firm SpaceX, bought Twitter for $44bn (£35.4bn) in October.
In the conversation – in which Mr Musk tried to do the interviewing as much as the other way around – Mr Musk defended his running of the company.
Asked whether he had any regrets about buying Twitter, the world’s second richest man said the “pain level has been extremely high, this hasn’t been some kind of party”.
Talking about his time at the helm so far, Mr Musk said: “It’s not been boring. It’s been quite a rollercoaster.”
It has been “really quite a stressful situation over the last several months”, he added, but said he still felt that buying the company was the right thing to do.
Things are going “reasonably well”, he said, stating that usage of the site is up and “the site works”.
The workload means that “I sometimes sleep in the office”, he said, adding that he has a spot on a couch in a library “that nobody goes to”.
And he also addressed his sometimes controversial tweets saying: “Have I shot myself in the foot with tweets multiple times? Yes.”
“I think I should not tweet after 3am,” he added.
Asked about the decision to add a label to the BBC’s main Twitter account describing it as “government funded media”, Mr Musk said: “I know the BBC is generally not thrilled about being labelled state media.”
Earlier this week, the corporation contacted the social media giant over the designation on the @BBC account to resolve the issue “as soon as possible”.
“The BBC is, and always has been, independent. We are funded by the British public through the licence fee,” it said.
Mr Musk said Twitter was adjusting the label for the BBC to “publicly-funded”. “We’re trying to be accurate,” he said.
“I actually do have a lot of respect for the BBC,” Mr Musk added, stating that the interview was “a good opportunity to ask some questions” and “to get some feedback on what we should be doing different”.Media caption,
Watch: Elon Musk on labelling the BBC “government funded” on Twitter
Discussing Twitter’s finances, Mr Musk said the company is now “roughly breaking even”, as most of its advertisers have returned.
He also said that cutting the workforce from just under 8,000 at the time he bought the firm to about 1,500 had not been easy.
He admitted he did not fire everybody in person, saying: “It’s not possible to talk with that many people face to face.”
The exit of many of Twitter’s engineers since Mr Musk bought the company has raised concerns about the stability of the platform.
He acknowledged some glitches, including outages on the site but he said the outages have not been for very long and the site was currently working fine.
In the interview – which was broadcast live on Twitter Spaces from San Francisco – Mr Musk was also challenged over misinformation and hate speech on the platform.
He claimed there was less misinformation on Twitter since the takeover, and that his efforts to delete bots – automated accounts – will decrease fake news.
But many outside experts disagree. One study – and there are quite a few others along the same lines – found engagement with popular misinformation-spreading accounts spiked after Mr Musk’s takeover.
He repeatedly questioned whether journalists were fair arbiters of truth and said he had more trust in “ordinary people”.
On the issue of legacy-verified blue ticks on the platform, Mr Musk said they would be removed from accounts by the end of next week.
Former Twitter executive Bruce Daisley – who ran the business in Europe, the Middle East and Africa for eight years – said the interview “gave us some insight into the strange life of this billionaire”.
“He confessed today that the only reason he went through with buying Twitter was because he believed a judge would force him to go through with the transaction. He’s never admitted that till now, so it was a very whimsical interview.”
Mr Daisley also suggested the interview showed he was not always consistent in what he says.
Mr Musk has an estimated personal fortune of almost $190bn, making him the world’s second richest person, according to the Forbes billionaires list.
Many of the over 50 classified documents that appeared on social media networks days after the Pentagon declared it was looking into the leak, are still accessible on Twitter.
Before making their way to more popular websites like Twitter and other platforms like Telegram, images of the hacked documents first appeared on a social media site called Discord weeks ago and went mostly unreported.
The fact that these documents sat undetected for so long and in some cases continue to circulate online underscores the limited authority the US government has to force social media companies to remove content, even classified materials that threaten national security. It also highlights the subjective enforcement of those companies’ policies that determine what content does and doesn’t belong on their sites.
“This all underscores that the notion that platforms are neutral is absolutely bogus,” said Justin Sherman, founder and CEO of Global Cyber Strategies, a DC-based research and advisory firm. “Doing nothing is still a decision, and platforms have to make judgment calls about what they want to allow on their platforms.”
In Twitter’s case, the classified material appears to have fallen through a policy loophole. The posting of classified US military documents would likely not be a violation of Twitter’s hacked materials policy, a former Twitter employee told CNN, “because there isn’t credible evidence establishing the likelihood of a technical hack or intrusion as the source of the materials.”
Twitter’s content moderation policy allows for the platform to label tweets that share potentially doctored materials, but the team responsible for producing such labels has been gutted under Elon Musk, the former employee told CNN, who spoke on the condition of anonymity to avoid retaliation by Musk.
“The fact that Twitter is unresponsive to questions about this at a time when Musk says he’s interested in public trust does not inspire a lot of confidence,” Eddie Perez, a former Twitter executive focused on product safety, told CNN.
Twitter’s personnel issues have only exacerbated its inability to respond to the classified information incident, Sherman said.
“Twitter has been a content moderation dumpster fire since Elon Musk took over and fired or pushed out or caused people to quit in large numbers,” he said, “and there is basically nobody left paying attention to many of these issues.”
Twitter did not respond to a request for comment. Musk broached the issue in a tweet last week, saying sarcastically: “Yeah, you can totally delete things from the Internet – that works perfectly and doesn’t draw attention to whatever you were trying to hide at all.”
Without additional information from outside sources such as government or intelligence officials, tech companies will struggle to proactively respond to classified material, said Katie Harbath, a former Facebook official who helped lead the company’s global election efforts until 2021.
“There’s the hack part, the leak part, and the classified part,” Harbath said. “There’s all those different components. No company alone is going to be able to determine every single one of those without help.”
Like Twitter, Discord does not appear to have a specific policy against posting classified information. It has roughly two dozen other policies in its community guidelines, including bans on “illegal behavior,” conduct that infringes on others’ “intellectual property or other rights,” and spreading false or misleading information.
On Discord, content resides on community-managed chatrooms known as “servers.” The basic structure of the platform can make it easier for illegal content to linger in niche corners compared to more centralized platforms.
That structure also arguably made it easier for the sensitive classified documents to slip under the radar for weeks.
In 2022, the shooter who killed 10 people in a Buffalo, New York, grocery store posted racist screeds and memes to a private Discord server before embarking on his rampage, but Discord did not learn of or remove the content until after the killing spree and once the shooter began sharing links to the private server to his followers.
The classified documents’ murky origins weren’t just an issue for the platforms.
“Most [Discord] users distributed the files because they thought they were fake at first,” one Discord user who followed the initial flurry of postings of classified documents told CNN. “By the time they were confirmed as legitimate, they were already all over Twitter and other platforms,” said the user, who spoke to CNN on the condition of anonymity.
A Discord spokesperson said in an emailed statement that the company is “cooperating with law enforcement” in response to the “to the apparent breach of classified material.”
“When we are made aware of content that violates our policies, our Safety team investigates and takes the appropriate action, including banning users, shutting down servers, and engaging with law enforcement,” the Discord spokesperson said.
Discord has grown more popular in recent years and now claims 150 million active users, many of them avid video gamers.
Austin Berglas, a former senior FBI official, said the FBI is likely looking to obtain information on which Discord users were administering the chat rooms where the documents appeared and the users that posted the documents.
It is unclear whether the US government warned social media platforms to be on alert for posts containing the specific classified information, and it is uncertain how the government could have done so without divulging the fact of the compromise or the contents of the documents to a wide range of otherwise unauthorized individuals.
“In a scenario where you identify and expect a platform to remove leaked classified documents, you’re asking that company to do classified document verification,” said Sherman. “That is not something your average moderator, especially for these companies that farm out their content moderation to people in low-resource countries that they underpay, are going to be able to do.”
Beyond the difficulty of verifying whether the content is authentic, there is also the issue of whether posts have intrinsic public interest value. In the past, some platforms have used that defense to justify hosting content that otherwise might violate their policies, including social media posts by Donald Trump.
The challenges involving US-based social media companies such as Twitter and Discord become even thornier when the platform is based outside of the United States, experts said.
“Good luck getting any of this removed from Telegram,” said Sherman, referring to a social media platform with operations outside of the US.
Twitter‘s recognizable blue bird logo was replaced with the trending Doge meme in what appears to be a delayed April Fool’s joke.
Many expressed their astonishment on Twitter on Monday after discovering a Shiba Inu dog on Twitter’s homepage and loading screen in place of the blue bird logo.
In 2010, a picture of a dog became viral and later used as the logo for the well-known cryptocurrency Dogecoin.
Elon Musk, the founder of Twitter, acknowledged the shift by posting a meme.
The reason behind the change is unclear, with some users speculating that it was an April Fool’s Day prank that wasn’t done on time as key employees had been laid off.
The timing of the change is still suspicious as it comes days after Musk petitioned a court in the US to dismiss a lawsuit filed against him by Dogecoin investors for $258 billion over an alleged pyramid scheme.
The change also caused an instant boost the value of the memecoin. In just 30 minutes, Dogecoin prices increased by 30%.
Who or what is Doge?
Doge is a popular internet meme that consists of a picture of Kabosu, a Shiba Inu dog, accompanied by multicoloured text in Comic Sans font.
Last year, Musk was sued for $258 billion (£209 billion) for allegedly running a pyramid scheme to support the cryptocurrency.
In Friday’s hearing, Musk’s lawyers said the investors never explained how Musk intended to defraud anyone or what risks he concealed, and that his statements such as ‘Dogecoin Rulz’ and ‘no highs, no lows, only Doge’ were too vague to support a fraud claim.
‘There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,’ Musk’s lawyers said. ‘This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.’
Elon Musk has changed the Twitter logo, bidding goodbye to the signature bird logo, and replacing it with a doge meme. When you open the Twitter web, the loading screen will show the new Twitter logo of Kabosu, the Shiba Inu that inspired the Doge meme. The display picture of Twitter’s homepage is also replaced by the same.
Elon Musk announced the new logo on Twitter by posting a screenshot of a conversation with the caption “as promised”. The screenshot shows a conversation between Musk and a Twitter user “Chairman” with handle “@WSBChairman” where he suggested “just buy twitter” and “change the bird logo to a doge”. To this, Musk responded saying “Haha that would sick”.
It is speculated that this could be an April Fools’ joke that showed up two days late or it could be much bigger than that. With this little stunt, the price of cryptocurrency Dogecoin has gone up by 10 percent. However, it is still lower than its peak price in May 2021.
Notably, Musk is facing a $258 million racketeering lawsuit that accused him of operating a pyramid scheme to promote Dogecoin.
A new logo with new checkmarks
In other news, Musk announced that all the legacy accounts on the platform will lose their blue checkmarks starting April 1. While the verification sign has vanished for many, reportedly Musk does not have enough staff to get done with the procedure faster.
Elon Musk, the CEO of Twitter, has revealed changes to the social media platform’s premium Twitter Blue service.
Only verified subscribers will be able to vote in polls and recommend posts to other users starting on April 15.
According to the guideline, tweets from non-paying accounts will not appear in the stream labeled “For you.”
The company announced last week that it would delete the verified status from some “legacy” accounts that were created before Mr. Musk acquired the business.
Blue-tick verification is presently $7 (£5.70) per month, and it also gives users access to more features.
Mr Musk said the changes were “the only realistic way to address advanced AI bot swarms taking over. It is otherwise a hopeless losing battle.”
“Voting in polls will require verification for same reason,” he added.
In an earlier post, Mr Musk said paid verification significantly increases the cost of using bots and makes it easier to identify them.
However, the move has been criticised by some social media users.
Elon Musk’s new policy will now essentially preclude non-paying users from taking part in one of those streams.
It means unverified Twitter users will be far less likely to have their tweets liked or retweeted.
It’s taking place. Finally, Twitter is removing the coveted blue ticks from users who obtained them before they could be purchased for £8 a month.
The social media firm declared on Thursday that it would begin “winding down” its heritage verified programme and removing legacy verified checkmarks on April 1. The announcement was made on its official Twitter Verified account.
The news is not unexpected because Elon Musk announced one of the first changes after he paid $44 billion to acquire the business last year: replacing free blue ticks with paid ones.
In November, Musk unveiled a new paid Twitter Blue subscription that would come with a verified blue check mark.
Shortly after Twitter Blue was launched, Musk said that the company was removing the legacy verification checkmarks as far too many ‘corrupt’ ones existed.
The timing is a little suspicious as the removal of blue ticks is due to happen on April Fools Day, making people wonder if it could be an elaborate prank orchestrated by Musk.
Metro.co.co reached out to Twitter and promptly received a poop emoji in response.
Still, this is the man who allegedly wanted to sell Tesla stock at a price of $420 after discovering the number’s ‘significance in marijuana culture’.
Even in his Twitter takeover, he bid to pay $54.20 per share to buy the company.
The announcement follows a global rollout of Twitter Blue that comes with a blue ‘verified’ checkmark, 4,000-character tweets, higher-ranked replies and the ability to edit tweets.
Organizations could also apply to Twitter for grey checkmarks to denote government officials and organizations. Businesses can also apply for gold checkmarks.
Would you pay for a blue tick on Twitter?
No, it’s meaningless now0%
Don’t care, I don’t use Twitter0%
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To get this, applicants will have to submit a government ID or a valid email address, and have to describe their positions and functions.
Musk first hinted at the $8 price back in October, in response to author Stephen King, whose verified account has 6.9 million followers.
‘$20 a month to keep my blue check?’ tweeted King on Monday and included an expletive. ‘They should pay me. If that gets instituted, I’m gone like Enron’. King said it ‘ain’t the money, it’s the principle of the thing’.
Musk early Tuesday replied: ‘[W]e need to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about $8?’
For the second time in less than eight weeks, Tesla is lowering its prices.
According to Reuters, the automaker has once again reduced the cost of its more expensive, older Model S sedan and Model X SUV.
Although these vehicles were ground-breaking when they were introduced in 2012 and 2015, they now face fierce competition from far more recent models from manufacturers like Rivian, Lucid, Mercedes, Porsche, and BMW. As a result, only 5% of Tesla’s total global sales in 2022 came from the Model S and Model X combined.
A Tesla Model S with two motors and all-wheel drive cost $104,990 in 2022. Tesla reduced the cost of around 10% in January, bringing it down to $94,990. At $89,990 right now, it is $5,000 less expensive.
For those who want to go really fast, the Model S Plaid, which uses three motors for a sub-2-second 0–60 mph time and a 200 mph top speed, is now $109,990, $5,000 less than last week and $26,000 less than you’d have paid in 2022.
The Model X SUV sees even bigger discounts. After heavy price drops in January, Tesla has now cut an extra $10,000 from Model X prices. That means the all-wheel-drive dual-motor version now starts at $99,990, with the triple-motor Plaid Model X starting at $109,990.
How long those prices will stay is anyone’s guess. Within less than a month of enacting its January price cuts, Tesla had already increased the prices of the Model Y crossover again.
Although Musk owns a number of businesses, the majority of his money is invested in his electric car company Tesla. Elon Musk has once more outdueled other billionaires to reclaim his position as the richest man in the world.
The electric car manufacturer Tesla’s stock increased 100% in January, increasing the billionaire’s net worth to $186 billion (£154 billion), according to the Bloomberg Billionaires Index, and things are looking up for him.
In December, Musk lost the title of the world’s richest person to fashion titan Bernard Arnault, according to Forbes’ real-time wealth tracker.
Musk and Arnault, who owns Louis Vuitton’s parent company LVMH, have lately been neck and neck for the top spot.
Arnault and his family became the richest people in the world as their fortune leapt to $185.4 billion. Their current net worth stands at $184 billion, just a few billion short of Musk’s.
Elon Musk has once again wrestled his way to the top of the billionaire race to retake the title of the world’s richest person
If you’re getting a sense of deja vu, it’s because Musk did the same in 2022 and 2021 when he blew past rival Jeff Bezos to attain the rank of world’s richest person.
Musk owns a number of companies but the bulk of his wealth is tied up in his electric car company Tesla.
Last year, the Tesla co-founder slipped from the top of the billionaire’s list as shares in the automaker declined.
Musk kicked off the year by becoming the first person in history to lose approximately $2 billion. He even set a world record for the largest loss of personal fortune in history according to the Guinness World Records.
Now, an increased investor demand and customer interest in his recently discounted Tesla models, and a better economic forecast, have propped up his fortunes.
In November, Musk hinted at the possibility of Twitter going bankrupt
Musk made his debut on the Forbes list of billionaires in 2012 with an estimated net worth of $2 billion.
Currently, SpaceX is his most valuable company in which he has a $44.8 billion stake.
Besides Tesla and Twitter, which he bought for $44 billion last year, Musk also heads rocket company SpaceX and Neuralink, a startup developing interfaces to connect the human brain to computers.
The chief of companies including Tesla and Twitter, Elon Musk, now has a net worth of $187.1 billion, according to Bloomberg. He beat LVMH CEO Bernard Arnault, overtaking the head of the luxury brand conglomerate whose own net worth is $182 billion, according to the Bloomberg Billionaires Index.
Arnault had unseated Musk last year as Tesla shares fell in December. The Tesla stock price hit a low of $108.10 on Jan. 3, 2023, according to historical data on Yahoo Finance. The carmaker’s stock closed at $207.63 on Monday.
After the tumult of last year, in which Musk purchased Twitter after some uncertainty about whether he’d follow through on the deal, and a lawsuit at the time by Tesla shareholders, Musk has had a better 2023 so far.
Earlier this month, he prevailed in a federal civil trial in San Francisco over whether he should be held liable for tweeting in 2018 that he had “funding secured” to take Tesla private, though the transaction ultimately didn’t happen.
Musk also tweeted this month that Twitter was “trending to break even” and that he had to “save” the platform from bankruptcy. Musk is still facing legal claims from laid-off Twitter employees and lawsuits from landlords claiming that Twitter offices have fallen behind on rent.
Musk previously beat Amazon founder Jeff Bezos in 2021 to become the world’s richest person at the time. The Musk, Arnault, and Bezos trio have periodically swapped places at the top of the Bloomberg Billionaires Index.
Bloomberg’s calculations, has again titled Elon Musk as the world’ s richest person in the world.
In December 2022, Bernard Arnault, CEO of the French luxury retailer LVMH (LVMHF), deposed the Tesla CEO from the top rank, moving Elon Musk to number two on the list for more than two months. Yet as of Monday, according to Bloomberg, a surge in Tesla stock has sent Musk back to the top of the Billionaires Index.
According to Bloomberg, as of Monday after the markets closed, Musk’s net worth was $187.1 billion, barely surpassing Arnault’s $185.3 billion fortune.
While Tesla (TSLA) stock declined steeply last year amid Musk’s problem-plagued acquisition of Twitter and a broader market downturn in tech, shares for the electric vehicle maker have since surged in 2023.
Musk might hold the current title of the richest person in the world, but he also holds a record for the biggest fortune ever lost by anyone in history. December 2022, Musk became the first person ever to lose $200 billion in wealth — after his net worth slid from $340 billion in November, 2021 to $137 billion in December 2022.
After disclosing that the company is seeing a “huge decline in income,” Elon Musk reportedly let go at least 200 employees at Twitter.
The New York Times (NYT) reported late on Sunday that the job losses over the weekend represent about 10% of Twitter Inc.’s personnel and are the most recent round of layoffs since Elon Musk assumed control of the social media platform in October.
According to the NYT investigation, which relied on people with knowledge of the situation, those fired on Saturday night included product managers, data scientists, and engineers.
Mr Musk last month said the company has a headcount of about 2,300 active employees.
The latest round of cuts comes after mass layoffs in early November, which saw Twitter let go around 3,700 employees in a cost-cutting measure by Mr Musk, who had acquired the company for $44 billion.
Tesla and SpaceX CEO Mr Musk said in November that the service was experiencing a “massive drop in revenue” as advertisers pulled spending amid concerns about content moderation.
Twitter recently started sharing revenue from advertisements with some of its content creators.
Tesla, a manufacturer of electric vehicles founded by Elon Musk, has refuted reports that it has fired staff members after they attempted to organize a union in the state of New York.
Workers in Buffalo, New York, allegedly lost their jobs a day after the union made its plans known to the public, according to organizers there.
To try to stifle the campaign, they claimed Tesla fired more than 30 employees.
The workers, who were a part of a 675-person team responsible for labeling the Autopilot system, were laid go, according to a blog post by Tesla.
The company said it had laid off 27 staff for “poor performance” and that they “were identified… well before the union campaign was announced.”
The firm said it only learned in hindsight that one of the 27 impacted employees “officially identified as part of the union campaign.”
“The employees let go as part of this process received prior feedback on their poor performance from their managers over the course of the review period. Despite feedback, they did not demonstrate sufficient improvement,” it added.
Mr Musk has been outspoken about his opposition to unions in the past.
“I strongly feel this is in retaliation to the committee announcement and it’s shameful,” said Arian Berek, a fired member of the union’s organising committee.
In the complaint filed with government labour officials, the union cited 18 people it said the company had fired “in retaliation for union activity and to discourage union activity”.
Organisers said, based on a company chat, they believed more people had been fired and expected to add names to the complaint. They said they were still confirming how many of those fired had been directly involved in the campaign or had just indicated their support.
The Buffalo facility employs about 2,000 people, according to organisers from Tesla Workers United, which is backed by the same union that launched organising efforts at Starbucks.
The group is now seeking support from Tesla workers in Buffalo to hold a vote about joining a union. It sent a letter to the company on Tuesday outlining its plans and asking leaders to agree to ground rules for a “fair” election.
A day later, campaigners said, Tesla fired more than 30 workers and sent an email informing staff of a policy that bars recording of workplace conversations without the consent of all parties.
Organisers said the rule violated their rights under federal and state laws.
The National Labor Relations Board has previously found that Tesla violated labour rules during an organising effort at its car manufacturing plant in California.
“We’re angry. This won’t slow us down. This won’t stop us. They want us to be scared, but I think they just started a stampede,” said Sara Costantino, current Tesla employee and organising committee member.
Elon Musk, the CEO of Tesla, claims to have donated approximately $1.95 billion (£1.6 billion) worth of company shares to charity last year.
In a filing with US regulators, the donation of 11.6 million shares was referred to as “a bona fide gift.”
The donation’s recipient or recipients were not identified in the filing.
Also on Wednesday, Mr. Musk stated that it would be “good time” to find a replacement for him as Twitter’s CEO towards the end of the year.
The document submitted to the US Securities and Exchange Commission states that the donation was made between August and December of last year.
A BBC request for comment has received no immediate response from Tesla.
It is not the first time Mr. Musk has given Tesla stock to charity. He donated around $5.74 billion worth of shares in 2021, according to a regulatory filing.
He also said on Twitter that year, that he planned to donate $20m to schools in Cameron County and $10m to the Brownsville city in Texas, US for “downtown revitalization”.
Mr Musk has also hinted that he plans to find his successor as chief executive of Twitter by the end of 2023.
“I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year,” he said.
“I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” he said on a video link at the World Government Summit in Dubai.
The multibillionaire businessman bought the social media platform last year for $44 billion. He has since said the company was close to bankruptcy.
However, he has been criticised by some Tesla investors for spending too much of his time focussing on trying to turn around Twitter.
In November, addressing the G20 Summit in Bali, Indonesia, Mr Musk said he is working too much as he juggles his responsibilities as Twitter, Tesla, and his rocket company SpaceX.
“My workload has recently increased quite a lot,” Mr Musk said. “I have too much work on my plate, that is for sure,” he added.
Authorities met with Twitter to “remind Twitter of its obligations on content takedowns and disinformation,” according to Netblocks, and this led to the restoration.
Without offering an official justification, Turkish authorities expressed concern about online misinformation.
The observatory first reported restrictions on the social media platform on Wednesday. Twitter’s ownerElon Musk subsequently said Turkey had indicated it would restore access to the platform soon.
ℹ️ Update: Metrics confirm access to Twitter is being restored in #Turkey following hours of filtering. The restoration comes after authorities held a meeting with Twitter to "remind Twitter of its obligations" on content takedowns and disinformation.
Twitter appears to have more goodies for its users as it has announced a new package for Blue subscribers.
In a tweet CEO Elon Musk noted that effective February 4, 2023, “Twitter will share ad revenue with creators for ads that appear in their reply threads.”
“To be eligible, the account must be a subscriber to Twitter Blue Verified,” he added.
The billionaire tech mogul announced on Friday that the platform would start sharing ad revenue with eligible users. Musk said those who are subscribed to Twitter Blue Verified will receive a cut of the revenue from ads that appear in their reply threads, but failed to provide additional information on how the program would work.
Twitter currently offers a few monetisation options, including its Super Follows and Tips features.
Tesla founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker private.
Mr Musk faced a class-action lawsuit filed on behalf of Tesla shareholders who argued he misled them with his posts in August 2018.
The proposed $72bn (£60bn) buyout never materialised.
If the San Francisco jury had found Mr Musk liable he could have been ordered to pay billions of dollars in damages.
It took the nine jurors less than two hours to reach their verdict on Friday afternoon.
Mr Musk – who had wanted the trial moved to Texas, where Tesla is based, arguing he could not get a fair trial in San Francisco – welcomed the outcome.
Taking to Twitter, the social media platform he bought for $44bn last October, he posted: “Thank goodness, the wisdom of the people has prevailed!
“I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.”
Central to the lawsuit was Mr Musk’s tweet on 7 August 2018: “Am considering taking Tesla private at $420. Funding secured.”
The plaintiffs also argued Mr Musk had lied when he tweeted later in the day that “investor support is confirmed”.
The stock price surged after the tweets, but fell back again within days as it became clear the deal would not go through.
Investor losses were calculated as high as $12bn, according to an economist hired by the shareholders.
The US Securities and Exchange Commission (SEC) sued Mr Musk over his tweets, accusing him of lying to investors. Mr Musk agreed to step aside as Tesla board chairman and settled for $20m.
During the three-week trial, Mr Musk – who also leads SpaceX and Twitter – had argued he thought he had a verbal commitment from Saudi Arabia’s sovereign wealth fund for the deal.
During his nearly nine hours on the witness stand, the world’s second-richest man said: “Just because I tweet something does not mean people believe it or will act accordingly.”
Shareholders had argued that “funding secured” suggested more than a verbal agreement.
Just a ‘bad tweet’?
Although Tesla’s share price shot up after the tweet was posted, Mr Musk also questioned whether his tweets had any effect on Tesla’s share price.
“At one point I tweeted that I thought that, in my opinion, the stock price was too high… and it went higher, which is counterintuitive,” he said – arguing the effect his tweets have on the stock price can be unpredictable.
Mr Musk said he eventually scrapped the plan to take Tesla private after his discussions with smaller investors led him to believe they would prefer that the firm remain publicly traded.
He was not in court when the verdict was read, but he was present during closing arguments earlier on Friday as duelling portraits were drawn of him by the rival legal teams.
Nicholas Porritt, a lawyer for the Tesla shareholders, said: “Our society is based on rules. We need rules to save us from anarchy. Rules should apply to Elon Musk like everyone else.”
Mr Musk’s attorney, Alex Spiro, said: “Just because it’s a bad tweet doesn’t make it a fraud.”
After the verdict, Mr Porritt said: “We are disappointed with the verdict and are considering next steps.”
Mr Musk was generally calm during his testimony – though at times he appeared annoyed at the line of questioning.
There were also times of levity. After a lawyer representing shareholders accidentally called Elon Musk “Mr Tweet”, Elon Musk promptly changed his name on Twitter to the same moniker.
Several Tesla directors also testified, including James Murdoch, son of Rupert Murdoch. They testified that Mr Musk did not need the Tesla board to review buyout tweets.
Securities fraud lawyer Reed Kathrein called the tweet about taking Tesla private “as concrete a statement of taking a company private as there can be”, and said the not guilty verdict was “a travesty to investors and the securities laws”.
Tesla’s February 2021 Bitcoin purchase caused the cryptocurrency to rise in price by more than 25% to $48,000 – a record high at the time.
It rose again in March 2021, when Mr Musk tweeted Tesla would allow customers to make their car purchases using Bitcoin. This enabled people in the US to secure orders with the equivalent of a $100 deposit in Bitcoin.
But the cryptocurrency subsequently fell by more than 10% two months later, when the firm backpedalled on this plan, citing climate change concerns.
According to the UK Treasury, Bitcoin’s global annual energy consumption is estimated to be roughly 39% of the UK’s – and some estimates put the cryptocurrency’s even higher.
Its price soared to almost $70,000 in November 2022 before crashing by more than 50% when Tesla decided to offload most of its holdings.
The alleged rape and human trafficking charges against the former kickboxer turned influencer, which he denies, have him in custody. Defense attorneys will attempt to counter that there is not enough evidence to keep him and his brother Tristan in custody today.
Additionally, two female suspects from Romania have been detained.
According to allegations, the Tate brothers lured their victims into relationships or marriages by seducing them.
Prosecutors say the women were then forced to produce pornographic content under duress.
Kickboxer turned influencer, Andrew Tate, is also accused of raping one of the victims last March. All four deny the allegations.
Image:Police officers escort Andrew Tate handcuffed to his brother Tristan Tate. Pic: AP
Earlier this month, a court extended their preventative custody period to 27 February.
Today, defence teams will try to argue that there is not enough evidence to continue to hold them.
The brothers’ legal team is also fighting for these items to be returned.
Image:Luxury cars were seized from the influencer’s villa earlier this month
Last week, Andrew Tate made his first comments since his detention.
“They know we have done nothing wrong,” he told reporters as he was brought in for further questioning by anti-organised crime prosecutors. “This file is completely empty. Of course it’s unjust, there is no justice in Romania unfortunately.”
Famous for misogynistic content, Tate has a huge following despite being banned from most mainstream social media platforms.
His Twitter account was reinstated in November after Elon Musk took charge of the company.
Hours after Elon Musk shared a poll on Twitter asking if he should step down as head of the company, Snoop Dogg hopped on the platform to ask his followers the same question.
“Should I run Twitter?” Snoop tweeted. The poll, which was posted Sunday night, has since received nearly three million responses, with 81 percent of the Twitter users voting “Yes.”
Whether joking or not, Snoop has received far more backing than Musk, whose poll received over 17.5 million responses, with 57.5 percent of the votes calling for him to step down.
Musk, who claims he will “abide” by the results of the poll, later tweeted, “As the saying goes, be careful what you wish, as you might get it.”
“Those who want power are the ones who least deserve it,” Musk added in a subsequent tweet.
Meanwhile, in other news regarding Snoop, the Long Beach rapper has joined forces with Ice Cube, Too Short, and E-40, to form Mount Westmore, a new hip-hop supergroup which recently released its official debut album Snoop Cube 40 $hort.
“You bring the legends of the West Coast together; something great will always happen,” Snoop told HotNewHipHop after announcing the group. “Cube, 40, Short, and I have been running the game for years. This is the perfect time because each of us brings authentic and new ideas to the table. All four together? That’s magic.”
Stream Mount Westmore’s full-length project now on all major platforms.
His tweet has become legendary in Silicon Valley, as it showed the sheer power that 140 characters on Twitter can have.
Legal experts said they believe it will be a difficult case for Mr Musk to win, and that the fine he paid to the SEC will be used against him in the case. However jury trials in cases of fraud are notoriously difficult to predict.
Mr Musk had wanted the trial to be moved to Texas, arguing a fair jury would not be possible to find in San Francisco.
The move, which prompted a 4% fall in Tesla’s shares in pre-market trading, came after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain volume growth at the expense of profit. Shares are down 65% since the start of 2022.
The lower pricing across Tesla’s major markets marks a reversal from the strategy the automaker had pursued through much of 2021 and 2022 when orders for new vehicles exceeded supply. Musk acknowledged last year that prices had become “embarrassingly high” and could hurt demand.
The US price cuts, announced late Thursday on its global top-sellers the Model 3 sedan and Model Y crossover SUV, were between 6% and 20%, Reuters calculations showed.
The basic version of its Model Y now costs $52,990, down from $65,990 previously.
That is before an up to $7,500 federal tax credit that took effect for many electric vehicle models at the start of January.
Tesla also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States.
In Germany, it cut prices on the Model 3 and the Model Y by between about 1% and almost 17% depending on the configuration. It also cut prices in Austria, Switzerland and France.
For a US buyer of the long-range Model Y, the new Tesla price combined with the US subsidy amounts to a discount of 31%. In addition, the Tesla move broadened the vehicles in its line-up eligible for the Biden administration tax credit.
Before the price cut, the five-seat version of the Model Y had been ineligible for that credit, a designation Musk called “messed up”. After the price cut, the long-range version of the Model Y will qualify.
The cuts may make EV cars affordable to people who may have been previously priced out of the market.
In France, customers buying the Model 3 for €44,990 ($48,773) will now get a further price reduction through a government subsidy of €5,000. The threshold for the EV subsidy is €47,000.
“This should really boost 2023 (Tesla) volumes,” Gary Black, a Tesla investor who has remained bullish on the company and its prospects through the recent, sharp share price decline, said in a tweet. “It’s the right move.”
Still shares in US pre-market trading were lower, as investors worried the move might erode margins, particularly as competition intensifies.
“Tesla is an outlier because it’s still got eye watering valuations when it comes to the number of cars that it actually sells. But ultimately there are all the other providers that sell a hell of a lot more cars overall,” said Michael Hewson, chief market analyst at CMC Markets UK.
Some users on Tesla fan forums online also complained the price cuts disadvantaged those who had recently bought their vehicle, leaving them with a lower second-hand value.
“Just reducing 10,000 euros like that – definitely makes you feel that you just paid far too much,” one user wrote on a ‘Tesla Drivers and Friends’ forum.
In China, where Tesla cut prices last week by 6% to 13.5%, owners protested at delivery centres, calling for compensation.
Before the cuts, Tesla inventory in the United States, as tracked by models its website shows as immediately available, had been trending higher. Prices on used Tesla models had also been dropping, increasing pressure to adjust new-car prices.
For 2021, the United States and China combined had accounted for about 75% of Tesla sales, although it has been growing sales in Europe, where its Berlin plant has been ramping up output.
Tesla cut prices in China and other Asian markets last week in its first major move since appointing its lead executive for China and Asia, Tom Zhu, to oversee U.S. output and sales.
Analysts had said the Chinese price cuts would boost demand and increase pressure on its rivals there, including BYD (BYDDF), to follow suit in what could become a price war in the largest single market for electric vehicles.
Tesla’s Model 3 was the best-selling electric vehicle in Germany last month, followed by the Model Y, beating Volkswagen’s all-electric ID.4. Volkswagen recently raised the price of its entry-level ID.3, putting it at parity with the now-discounted Model 3.
Tesla missed Wall Street estimates for fourth quarter deliveries. Full year growth in deliveries was 40% – also short of Musk’s own forecast of 50%.
Elon Musk has set a new world record for the largest personal fortune loss in history.
Guinness World Records said in a blog on its website that he lost around $165 billion between November 2021 and December 2022.
The figures are based on data from the publisher Forbes, but Guinness believes Mr Musk’s losses could have been higher.
It follows a drop in the value of Mr Musk’s electric car company Tesla after he purchased Twitter last year.
Investors are concerned that Mr. Musk is no longer giving Tesla enough attention following his $44 billion (£36 billion) acquisition of the social media company.
Mr Musk’s losses since November 2021 surpass the previous record of $58.6 billion (£47 billion), suffered by Japanese tech investor Masayoshi Son in 2000.
The estimated loss is based on the value of his shares, which could regain their value, meaning Mr Musk’s wealth would increase again.
In December, the Tesla boss lost his position as the richest person in the world to Bernard Arnault, the chief executive of French luxury goods company LVMH, which owns fashion label Louis Vuitton.
The value of Tesla shares dropped around 65% in 2022, in part because of Tesla’s performance. The firm delivered just 1.3 million vehicles during the year, falling short of Wall Street expectations.
However, Mr Musk’stakeover of Twitter – where he has sparked controversy by firing large numbers of staff and changing content moderation policies – is behind most of the share slump.
Many Tesla investors believe he should be focusing on the electric vehicle company as it faces falling demand amid recession fears, rising competition, and COVID-linked production challenges.
“Long-term fundamentals [at Tesla] are extremely strong. Short-term market madness is unpredictable,” Mr Musk tweeted after the stock markets closed for the year in December 2022.
According to Forbes, Mr. Musk is now worth approximately $178 billion (£152 billion), while Bernard Arnault is estimated to be worth $188 billion (£155 billion).
He also highlighted his view that face-to-face collaboration is key to “a creative business like ours”.
The announcement comes two months after Mr Iger’s shock return to Disney.
“Nothing can replace the ability to connect, observe, and create with peers that comes from being physically together, nor the opportunity to grow professionally by learning from leaders and mentors, Mr Iger said in a memo to employees seen by the BBC.
Like many other big companies, Disney allowed employees to work from home during the pandemic to help slow the spread of Covid-19.
Also like other major firms, Disney has now moved to bring staff back into its offices.
In recent months companies including Snap, Tesla and Uber have announced similar changes to their their working policies.
Since September employees of technology giant Apple have been required to work for three days a week in the firm’s offices.
In November, multi-billionaire Elon Musk ordered Twitter staff back to the office for 40 hours a week, ending the company’s permanent “work from anywhere” policy.
The decision by Mr Musk, who bought the social media platform in a $44bn (£38.7bn) deal, reportedly caused large numbers of staff to quit after he called on them to sign up for “long hours at high intensity” or leave.
Iger’s return
Mr Iger was brought back by the company’s board to steer it through a tough period after its share price plummeted and the Disney+ streaming service continued to run at a loss.
His return came less than a year after he had retired from the company. He previously headed Disney for 15 years.
Mr Iger replaced Bob Chapek, who took over as chief executive in February 2020.
Mr Chapek’s tenure as the boss of Disney included the shutdown of its theme parks due to Covid restrictions.
The final three months of 2022 are projected to see Samsung’s profits decline by 69% to their lowest level in eight years.
The largest manufacturer of memory chips, smartphones, and TVs in the world anticipated that its operating profit would drop to about 4.3tn won ($3.4bn; £2.8bn) for the time period.
It occurs as the slowdown in the world economy affects the cost of memory chips and the demand for electronic devices.
As consumers tighten their belts, global technology giants have recently taken a hit.
It was Samsung’s lowest quarterly profit since 2014 and missed investor expectations of around 5.9 trillion won.
TheSouth Korean company said it saw a bigger-than-expected fall in demand for computer chips as customers cut their stocks of the key components for digital devices.
“For the memory business, the decline in fourth-quarter demand was greater than expected as customers adjusted inventories in their effort to further tighten finances,” Samsung said in the statement.
“Smartphone sales and revenue decreased due to weak demand resulting from prolonged macro issues,” it added.
Samsung is scheduled to publish its full financial statement on 31 January.E
It is the latest major technology company to reveal how weakness in the global economy is impacting its business.
Sales have also slowed after demand boomed during the pandemic when customers at home spent a lot online.
Tens of thousands of jobs are being shed across the global technology industry, amid slowing sales and growing concerns about an economic downturn.
This week Amazon said it planned to axe more than 18,000 jobs, the largest number in the firm’s history, as it cuts costs.
In November, Meta announced that it would cut 13% of its workforce.
The first mass lay-offs in the social media firm’s history will result in 11,000 employees, from a worldwide headcount of 87,000, losing their jobs.
Meta chief executive Mark Zuckerberg said the cuts were “the most difficult changes we’ve made in Meta’s history”.
The news followed major layoffs at Twitter, which cut about half its staff after multi-billionaireElon Musk took control of the firm in October.
Amazon intends to cut more than 18,000 jobs, the most in the company’s history, in a bid to cut costs.
The online retailer, which employs 1.5 million people worldwide, did not specify which countries would be affected, but noted that Europe would not be left out.
The majority of the job losses will be in its consumer retail and human resources divisions.
Andy Jassy, the company’s CEO, blamed the layoffs on the “uncertain economy,” saying the company had “hired rapidly over several years.”
“We don’t take these decisions lightly or underestimate how much they might affect the lives of those who are impacted,” he said in a memo to staff.
He said the announcement had been brought forward due to one of the firm’s employees leaking the cuts externally.
“Companies that last a long time go through different phases. They’re not in heavy people expansion mode every year,” he added.
Amazon’s sales have slowed after a surge during the pandemic, when customers bored at home spent a lot of time online.
A potent combination of a downturn in advertising revenues due to businesses seeking to save cash and consumers spending less as the cost of living crisis bites is hitting tech firms hard.
Other major tech companies, such as Meta, which owns Facebook, Instagram, and WhatsApp, and cloud-based business software firm Salesforce, have recently announced significant layoffs.
Amazon has already announced that it’s cutting back on projects like the Echo (better known as Alexa) and delivery robots – which were nice-to-haves but not actually making money.
Anecdotally, there’s a tendency in Silicon Valley for firms to hire and retain talented workers on attractive salaries, even if they’re not immediately needed, primarily in order to stop them working for rivals. This culture is a luxury that big tech can no longer afford to maintain.
Amazon employees affected by the cuts are expected to be informed by January 18.
The move comes after the technology giant said last year that it would reduce its headcount without saying how many jobs would be cut.
A potent combination of a downturn in advertising revenues due to businesses seeking to save cash, and consumers spending less as the cost of living crisis bites, is hitting tech firms hard.
‘More pain ahead’
The company had already stopped hiring new staff and stopped some of its warehouse expansions, warning it had over-hired during the pandemic.
It has also taken steps to shut some parts of its business, cancelling projects such as a personal delivery robot.
“Prior to the pandemic, tech companies would often remove only the bottom 1% to 3% of their workforce,” Ray Wang from the Silicon Valley-based consultancy Constellation Research told the BBC.
Dan Ives from investment firm Wedbush Securities said he believes Amazon will face “more pain ahead” as customers tighten their belts.
Industry-wide cuts
Tens of thousands of jobs are being shed across the global technology industry, amid slowing sales and growing concerns about an economic downturn.
In November,
Facebook owner Meta announced that it would cut 13% of its workforce.
The first mass lay-offs in the social media firm’s history will result in 11,000 employees, from a worldwide headcount of 87,000, losing their jobs.
Meta chief executive Mark Zuckerberg said the cuts were “the most difficult changes we’ve made in Meta’s history”.
The news followed major layoffs at Twitter, which cut about half its staff after multi-billionaire Elon Musk bought the firm in October.
Amazon started laying off staff as early as November, according toLinkedIn posts by workers who said they had been impacted by job cuts.
Posts seen by the BBC included those from employees in Amazon’s Alexa virtual assistant business, Luna cloud gaming platform division, and Lab – the operation behind the Kindle e-reader.