Twitter - the new FriendsReunited
A lot to pay to kill off a web site
The weeks-long saga between Elon Musk and Twitter may be drawing to a close as soon as this afternoon with the sale of Twitter to the Tesla CEO thought to be imminent. Reuters reported the news based on an anonymous source "familiar with the matter," who said the $54.20-a-share deal could be announced as early as Monday once …
Glad he has the stones and cash to keep free speech alive. This is a brave man and he should be supported by anyone worried about free speech.
I know they are a private company BUT they have protection against getting sued so it's a bogus claim to leave them alone the market will solve the issue.
If there legal cover is removed then yup let the market solve the problem.
BTW getting taken over by a rich man is also a market solution.
There are rather greater threats to 'free speech' than Twitter. Those that chose to offer an alternative social media option appear to be less free and even more hateful.
No, if you have a few billion free to help free speech you can find a long queue of more deserving cases worldwide fighting to have their voices heard and not suppressed - or worse - by governments, corporations and billionaires with rather thin skin.
Meanwhile, in other news, the EU's creating it's DSA with in-built censorship. Or mechanisms to counter 'fake news'.
So even with Musk in charge, governments could still ban tweets and tweeters. At least state broadcasters are reporting Russian regime change plans now, but other tweets on the subject might still be forbidden. Also unclear if mentioning junkie's laptops would be permitted or not.
But such is politics. At least wiki remains a 'safe' space, with the history eraser having been applied to Rosemont Seneca, and one of Biden's friends & business partners, Devon Archer.
Answerson a Postcard please where is this so-called "Russin Propaganda" did it fall behind the Sofa somewhere in the wall to wall coverage that Ukrane has been getting since Feburary? Nobody is say that what their doing is right. But, nobody seems to care if they (i.e. The Russians), just might have a fair few points here.
is doing this to stroke his inflated ego. He'll tire of it soon enough.
If he allows Donald 'the election was stolen from me' Trump and Margorie 'I don't recall, I can't remember' Taylor-Greene back onto the platform, my guess is that millions will vote with their feet and leave.
That will dilute his move to restore free speech. The people who run GAB, Gettr and all the other right wing sites will not be happy with Mucky boy. TheRealDonald has said that he won't be going back on Twitter...
Personally, I hope he loses a packet. That will piss Muck off no end as he wants to cosy up to Trump so that when Trump become POTUS again, he can get into his inner circle.
US Politics are the swamp that Donald failed to drain.
So i take it musk will defend my right to say he's a sociopathic libertarian weird person? (edit to remove insult that while true at one stage of his development, being a deuterostome, is not true any longer)
Icon because I am feeling more inclined to identifying with that chap the closer I edge to 50
Welcome to the world you've just bought yourself that is shortly going to be testing that claim to destruction.
Let's all have a bet on how long it will take before his absolutism mysteriously disappears when he realises how much shit he's invited upon himself.
Could Elon be a fake and crush free speech any way? Perhaps.
But if no action take the free speech is NOT happening on twitter. So toss this plate of noodles and sauce against the wall and see what sticks. In my opinion no downside.
"Could Elon be a fake and crush free speech any way? Perhaps."
It shouldn't be tough to find a copy of Tesla's employee agreement online. The one where employees are told they will be sacked and sued if they say anything negative about the company and can only bring labor actions via arbitration and not in a proper court. That really sets the scene when it comes to Musk and free speech. As a nano manager, he would have edited and signed off on that employee agreement.
Either he's just posturing and what he really wants is absolute free speech FOR HIMSELF and not much changes for anyone else, or he'll open the floodgates and let back on all the people forced over to extremist wastelands like Gab after being banned from Twitter for making threats etc.
If they bring back a lot of those people Twitter will be sued anytime threats of violence from someone who was previously banned are acted on - and he'll be personally deposed since he's made it abundantly clear in a very public way his acquisition was mostly about making that change.
Since I don't use Twitter I don't really care either way - either Musk loses big or Twitter turns into an extremist wasteland. Either way I'll have my popcorn and be laughing from the sidelines. The only winner is likely to be China, as Tik Tok is the most likely destination for Twitter refugees.
TikTok has a lot of censorship and limits on what you can say and post on their service.
Show too much skin? video gets pulled.
Say certain words? Video gets pulled.
say certain concepts that are critical to china's government? video gets pulled.
videos get pulled too much? BANNED.
I don't use Twitter, never got why SMS + interwebs is a compelling idea, but if Musk does buy it, I predict that instead of being able to milk boomers and older millennials for another decade, maybe two, Twitter will instead crash and burn within a few years under Musk's "leadership."
Frankly, if Musk has the time and energy to devote to running Twitter along with all his other ventures, maybe he should spend a little more time at the Fremont, CA, USA Tesla plant where racism and sexism are still rampant. It's his legal obligation as CEO to make sure that these things do not happen under both US and California State law, yet he's off whinging because someone on Twitter wasn't nice to him.
My guess is that he'll build another GigaFactory in Texas (where he still can't sell his crap directly to punters) and gradually shut down Freemont. That will solve the labour issues in one fell swoop.
He'll do anything he can to make himself even richer. Then he can buy a whole country.
Muskovia where everyone pays homage to the emperor on a daily basis and only Tesla's are allowed.
"My guess is that he'll build another GigaFactory in Texas (where he still can't sell his crap directly to punters) and gradually shut down Freemont."
Having a car plant in California was a stupid move to begin with. I won't be surprised when it is shuttered although Tesla will have to relocate S and X production somewhere if they intend to keep those models. Tents in the parking lot of the Austin plant?
"Twitter will instead crash and burn within a few years under Musk's "leadership.""
Or the employees at Twitter will be coopted (Elon hates that word) to staff a production line at the Tesla plant when they get behind on the next model like he did with people from Solar City and the Model 3.
Main way I see twitter articles is clicking through on them from news sites (such as El Reg).
I'm sure there's plenty of interesting stuff on Twitter, but free time is limited and I spend my "spare" time on sites like this rather than twitter. Don't know how people can keep up with the deluge of social media, I take the easy route of mainly ignoring it.
Twitter has reportedly thrown its $44 billion buyout by Elon Musk to a shareholder vote, which could take place around late July or early August.
Execs told employees of the plans on Wednesday, according to outlets including CNBC and the Financial Times.
A group of employees at SpaceX wrote an open letter to COO and president Gwynne Shotwell denouncing owner Elon Musk's public behavior and calling for the rocket company to "swiftly and explicitly separate itself" from his personal brand.
The letter, which was acquired through anonymous SpaceX sources, calls Musk's recent behavior in the public sphere a source of distraction and embarrassment. Musk's tweets, the writers argue, are de facto company statements because "Elon is seen as the face of SpaceX."
Musk's freewheeling tweets have landed him in hot water on multiple occasions – one incident even leaving him unable to tweet about Tesla without a lawyer's review and approval.
Elon Musk is prepared to terminate his takeover of Twitter, reiterating his claim that the social media biz is covering up the number of spam and fake bot accounts on the site, lawyers representing the Tesla CEO said on Monday.
Musk offered to acquire Twitter for $54.20 per share in an all-cash deal worth over $44 billion in April. Twitter's board members resisted his attempt to take the company private but eventually accepted the deal. Musk then sold $8.4 billion worth of his Tesla shares, secured another $7.14 billion from investors to try and collect the $21 billion he promised to front himself. Tesla's stock price has been falling since this saga began while Twitter shares gained and then tailed downward.
Morgan Stanley, Bank of America, Barclays, and others promised to loan the remaining $25.5 billion from via debt financing. The takeover appeared imminent as rumors swirled over how Musk wanted to make Twitter profitable and take it public again in a future IPO. But the tech billionaire got cold feet and started backing away from the deal last month, claiming it couldn't go forward unless Twitter proved fake accounts make up less than five per cent of all users – a stat Twitter claimed and Musk believes is higher.
Elon Musk must personally secure $33.5 billion to fund his $44 billion Twitter purchase after allowing a $12.5 billion margin loan against Tesla stock to expire.
Regulatory filings released Wednesday show the Tesla and SpaceX boss agreeing to secure "an additional $6.25 billion in equity financing" on top of the original $27.3 billion.
The Tesla boss's Twitter purchase originally relied on $21bn of equity that he had to provide along with $12.5bn in margin loans secured by his Tesla stock. That margin loan was dropped to $6.25bn on May 5, and this additional financing would eliminate it altogether.
Elon Musk said his bid to acquire and privatize Twitter "cannot move forward" until the social network proves its claim that fake bot accounts make up less than five per cent of all users.
The world's richest meme lord formally launched efforts to take over Twitter last month after buying a 9.2 per cent stake in the biz. He declined an offer to join the board of directors, only to return asking if he could buy the social media platform outright at $54.20 per share. Twitter's board resisted Musk's plans at first, installing a "poison pill" to hamper a hostile takeover before accepting the deal, worth over $44 billion.
But then it appears Musk spotted something in Twitter's latest filing to America's financial watchdog, the SEC. The paperwork asserted that "fewer than five percent" of Twitter's monetizable daily active users (mDAUs) in the first quarter of 2022 were fake or spammer accounts, which Musk objected to: he felt that figure should be a lot higher. He had earlier proclaimed that ridding Twitter of spam bots was a priority for him, post-takeover.
It's been a good week for free speech advocates as a judge ruled that copyright law cannot be used to circumvent First Amendment anonymity protections.
The decision from the US District Court for the Northern District of California overturns a previous ruling that compelled Twitter to unmask an anonymous user accused of violating the Digital Millennium Copyright Act (DMCA).
The Electronic Frontier Foundation (EFF), which filed a joint amicus brief with the ACLU in support of Twitter's position, said the ruling confirms "that copyright holders issuing subpoenas under the DMCA must still meet the Constitution's test before identifying anonymous speakers."
Elon Musk still hopes to quash a 2018 settlement agreement with the SEC requiring Tesla-related tweets to be approved by a lawyer before he can post them: on Wednesday, he took his case to the US Court of Appeals after a lower court denied this request.
The Tesla CEO landed himself in hot water with the watchdog when he tweeted he was thinking of taking the company private at $420 a share, and claimed to have already secured the necessary funding (sound familiar?) In reality, however, Musk did not have the funding or approval to do so. Investors, however, took him seriously and they started buying more shares, bumping up the stock price over 10 per cent.
The SEC accused Musk of fraud, saying his tweets were false and misled the public and caused disruption in the market. Musk was sued by the US regulator; he later settled the lawsuit by agreeing to pay $40 million in penalties, step down as chairman of the automaker's board, and accepted that any tweets discussing Tesla would have to be screened from now on.
Updated Last week Elon Musk hit pause on his Twitter acquisition over the platform's "less than 5 percent" bot figure.
The Register asked the microblogging website how it made the estimate and was stonewalled, but in ensuing discussions over the weekend, Musk blurted out that the sample size was 100 accounts.
One Musk fan asked how the userbase might help uncover the "real percentage" of fake accounts and was told:
A totaled Tesla Model S burst into flames in a Sacramento junkyard earlier this month, causing a fire that took "a significant amount of time, water, and thinking outside the box to extinguish," firefighters said.
The vehicle was involved in a comparably unexplosive accident that sent it to the junkyard three weeks ago – it's unclear what caused the Tesla to explode nearly a month after being taken off the road. Like other electric vehicle fires, it was very difficult to extinguish.
"Crews knocked the fire down, but the car kept re-igniting and off-gassing in the battery compartment," the department said on Instagram.
SpaceX has reportedly reacted to an open letter requesting accountability for Elon Musk by firing those involved.
The alleged dismissals come just two days after an open letter to SpaceX president and COO Gwynne Shotwell began circulating in a SpaceX Teams channel. The missive from employees said Musk's recent actions have been a source of distraction and embarrassment for SpaceX staff.
The letter asked for the company to "swiftly and explicitly separate itself" from Musk's personal brand, hold all leadership accountable for their actions, and asked that SpaceX clearly define what behaviors it considers unacceptable. The authors also said the company failed to apply its stated diversity, equity, and inclusion goals, "resulting in a workplace culture that remains firmly rooted in the status quo."
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