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Elon Musk buys Twitter for $44bn
After Twitter mentioned it has reached an settlement to promote the corporate to Elon Musk for round $44bn, the platform’s former chief and co-founder Jack Dorsey has referred to as the billionaire’s takeover of the corporate the “singular answer” he trusts.
The deal was introduced by the social media platform on Monday after days of negotiations between the world’s richest particular person and the Twitter board.
Musk can pay $54.20 money per share for the San Francisco-based firm, which is able to now be taken personal after days of intense negotiations between the entrepreneur and the platform’s board.
The board introduced it had reached a cope with Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing value on 1 April, the day earlier than the world’s richest particular person made his transfer for the corporate by asserting his 9 per cent stake.
Musk will possible make some important modifications to the social media platform, having made a number of hints in current months about what his intentions are. It comes after Musk’s buddy Dorsey stepped down as CEO and Parag Agrawal took over.
What in regards to the bots?
Eradicating Twitter bots may very well be a problem for Elon Musk, David Mahdi, chief safety officer at Sectigo, says:
“In eradicating all these Twitter bots, hopefully, Musk will have a look at finest practices throughout the complete id lifecycle. Nonetheless, these implementing these practices should additionally remember that on high of securing digital human identities, machine identities are additionally concerned within the background. That features the safe onboarding for all human and machine-related components (I.e. validating human identities, in addition to the associated units used for the interplay, I.e. cell machine, OS, and so forth.). We additionally want to consider how the software program concerned in securing our digital identities, appearing because the ‘connective tissue’, wants robust cryptography, PKI and certificates. This suggests that Musk’s modifications ought to name for robust administration of its whole cryptographic basis.”
Adam Smith26 April 2022 18:00
Twitter’s share value falls day after Elon Musk buy introduced
The worth of the corporate’s inventory fell by greater than three per cent throughout Tuesday morning buying and selling, to lower than $50 a share. The Twitter board have accepted a $54.20 pershare money supply fromthe Tesla CEO, which should be accepted by shareholders and cross regulators earlier than becomingfinal later this 12 months.
Graeme Massie26 April 2022 17:50
What does Elon Musk’s takeover imply for the way forward for Twitter?
“The Twitter acquisition truly makes extra sense than it at first seems”, Evan J. Zimmerman, an investor at enterprise capital agency Jovono, instructed The Impartial.
Twitter is the place a lot of the world’s most essential communications truly occurs. It’s really surprising that Twitter has struggled a lot to monetize decently although it’s the solely social media firm the place truly essential, real-world occasions happen. And since our damaged discourse has gotten in the best way of our skill to get essential issues completed, fixing Twitter would truly be good for humanity, although it could be another way than his different ventures. Elon bought his begin constructing software program firms and has appropriately recognized Twitter’s largest points, significantly bots. As an enormous Twitter consumer, he has in all probability been fascinated about this for longer than his churlish method seems.
“The primary shock is that he was capable of finding financing for a deal that’s shaping as much as appear like a moderately cheap LBO. One essential query: given the quantity of consideration it will take from him and the significance of Tesla inventory gross sales to finance the deal, is that this an indication that Elon’s time because the CEO of Tesla shall be coming to an finish?”
Graeme Massie26 April 2022 17:45
What does Elon Musk’s Twitter takeover imply for local weather disinformation?
‘Free speech is the bedrock of a functioning democracy, and Twitter is the digital city sq. the place issues important to the way forward for humanity are debated,’ Mr Musk tweeted after the sale was introduced on Monday.
Louise Boyle has the story.
Graeme Massie26 April 2022 17:25
Elon Musk unusually quiet on Twitter after $44bn bid accepted
The Tesla CEO, usually a voracious tweeter has no longer posted for 20-hours, since his “Sure!!!” tweet within the wake of his takeover of the social media platform being introduced by the corporate.
Graeme Massie26 April 2022 16:57
Twitter CEO says that is ‘interval of uncertainty’
Parag Agrawal, who took over from Jack Dorsey as CEO of Twitter final 12 months, has instructed employees that he doesn’t know whic means the corporate goes to go after Elon Musk purchased it.
“There may be certainly uncertainty about what is going to occur after the deal closes,” Mr Agrawal reportedly instructed employees. “We’ll discover a approach to deliver Elon in for a Q&A… We don’t have all of the solutions. This can be a interval of uncertainty.”
You may learn the complete story right here.
Anthony Cuthbertson26 April 2022 11:33
Dogecoin value shoots up 30%
Elon Musk’s Twitter takeover appears to have had a significant influence on the crypto market, most notably with dogecoin.
The meme-inspired cryptocurrency, which Musk has beforehand mentioned may very well be the “foreign money of the web”, shot up by greater than 30 per cent in a single day amid hypothesis that modifications made to Twitter beneath Musk might show beneficial for dogecoin.
Musk, who as soon as modified his Twitter bio to “CEO of Dogecoin” and described himself as “the Dogefather”, has mentioned cracking down on crypto scams shall be a high precedence beneath his possession.
You may learn the complete story right here.
Anthony Cuthbertson26 April 2022 10:36
Human rights teams increase hate-speech considerations on Twitter after Musk buyout
Human rights teams, together with Amnesty Worldwide and the American Civil Liberties Union (ACLU), have raised considerations about hate speech on Twitter after Elon Musk’s deal to take over the corporate.
“No matter who owns Twitter, the corporate has human rights tasks to respect the rights of individuals around the globe who depend on the platform. Adjustments to its insurance policies, options, and algorithms, large and small, can have disproportionate and typically devastating impacts, together with offline violence,” Deborah Brown, a digital rights researcher, instructed Reuters.
With Mr Musk calling free speech “the bedrock of a functioning democracy,” activists increase considerations that new insurance policies could flip a blind eye to violent and abusive speech.
Vishwam Sankaran26 April 2022 08:05
Twitter CEO admits they ‘don’t know’ what is going to occur to firm beneath Musk
ICYMI: Twitter’s CEO has instructed staff at a city corridor assembly that the way forward for the platform is unclear after agreeing to promote to Elon Musk for $44bn.
Parag Agrawal spoke to staff at a city corridor assembly simply hours after the cope with the Tesla boss was introduced, in response to Reuters, which had entry to it.
“As soon as the deal closes, we don’t know which course the platform will go,” mentioned Mr Agrawal, in accordance tothe information organisation.
The corporate has instructed employees that Mr Musk will maintain a question-and-answer session for them at a future date.
Graeme Massie26 April 2022 07:56
White home says Biden ‘has lengthy been involved in regards to the energy of enormous social media platforms’
ICYMI: White Home press secretary Jen Psaki instructed her Monday press briefing that she was “not going to touch upon a selected transition” however reiterated that the administration continues to consider that “irrespective of who owns or runs Twitter, the president has lengthy been involved in regards to the energy of enormous social media platforms” and burdened that “tech platforms should be held accountable for the harms they trigger.”
She pointed to bipartisan curiosity in Congress for antitrust measures and reforming part 230 of the Communications Decency Act.
And he or she added: “Our considerations will not be new. We’ve lengthy talked about, and the president has lengthy talked about, the powers of social media platforms … to unfold misinformation, disinformation [and] the necessity for these platforms to be held accountable.”
Graeme Massie26 April 2022 07:03
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