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Tag: Parag Agrawal

  • Musk ‘frees’ hen, provides its keepers marching orders

    Categorical Information Carrier

    BENGALURU:  Hours after taking keep watch over of Twitter, its new proprietor Elon Musk on Friday fired 4 most sensible executives of the corporate CEO Parag Agrawal, felony head Vijaya Gadde, leader monetary officer Ned Segal and normal suggest Sean Edgett. The sacked executives have been reportedly “escorted out of Twitter’s administrative center”. They’re entitled to anything else between $100 million and $200 million in severance, in keeping with US media studies. 

    Musk, who calls himself a ‘unfastened speech absolutist’, was once extremely vital of Twitter’s control and its content material moderation insurance policies. He had known as out Gadde for her position in banning former US president Donald Trump’s account in January final 12 months. 

    Previous within the day, Musk tweeted: “The hen is freed… let the great occasions roll,” indicating the crowning glory of his takeover of Twitter. The dramatic tendencies are in step with Musk’s promise that he’ll exchange the way in which Twitter is administered. He’s anticipated to ease content material moderation, comb out dummy accounts, and raise the ban on Trump. “Twitter can be forming a content material moderation council with broadly numerous viewpoints. No main content material selections or account reinstatements will occur ahead of that council convenes,” Musk tweeted.

    The alacrity with which Musk fired the CEO displays his aggressiveness, says former Twitter India head Manish Maheshwari. “He has got Twitter at a prime worth. He would wish to turn out himself proper and can proceed to make daring strikes,” he added. 

    BENGALURU:  Hours after taking keep watch over of Twitter, its new proprietor Elon Musk on Friday fired 4 most sensible executives of the corporate CEO Parag Agrawal, felony head Vijaya Gadde, leader monetary officer Ned Segal and normal suggest Sean Edgett. The sacked executives have been reportedly “escorted out of Twitter’s administrative center”. They’re entitled to anything else between $100 million and $200 million in severance, in keeping with US media studies. 

    Musk, who calls himself a ‘unfastened speech absolutist’, was once extremely vital of Twitter’s control and its content material moderation insurance policies. He had known as out Gadde for her position in banning former US president Donald Trump’s account in January final 12 months. 

    Previous within the day, Musk tweeted: “The hen is freed… let the great occasions roll,” indicating the crowning glory of his takeover of Twitter. The dramatic tendencies are in step with Musk’s promise that he’ll exchange the way in which Twitter is administered. He’s anticipated to ease content material moderation, comb out dummy accounts, and raise the ban on Trump. “Twitter can be forming a content material moderation council with broadly numerous viewpoints. No main content material selections or account reinstatements will occur ahead of that council convenes,” Musk tweeted.

    The alacrity with which Musk fired the CEO displays his aggressiveness, says former Twitter India head Manish Maheshwari. “He has got Twitter at a prime worth. He would wish to turn out himself proper and can proceed to make daring strikes,” he added. 

  • Twitter sues Elon Musk over $44 billion contract breach

    Twitter sued Elon Musk on Tuesday for violating the $44 billion deal to shop for the social media platform and requested a Delaware courtroom to reserve the sector’s richest individual to finish the merger on the agreed $54.20 in step with Twitter percentage, in step with a courtroom submitting.

    “Musk it seems that believes that he – in contrast to each different birthday party matter to Delaware contract regulation – is unfastened to modify his thoughts, trash the corporate, disrupt its operations, break stockholder worth, and stroll away,” stated the lawsuit.

    The lawsuit units in movement what guarantees to be some of the greatest prison showdowns in Wall Boulevard historical past, involving some of the industry international’s maximum colourful marketers in a case that can activate staid contract language.

    On Friday, Musk stated he was once terminating the deal as a result of Twitter violated the settlement via failing to reply to requests for info relating to faux or junk mail accounts at the platforms, which is key to its industry efficiency.

    Musk, who’s the manager govt officer of electrical automobile maker Tesla Inc , didn’t right away reply to a request for remark.

    The lawsuit accused Musk of “an extended listing” of violations of the merger settlement that “have forged a pall over Twitter and its industry.”

    Stocks of the social media platform fell to $34.06 on Tuesday, sharply underneath the degrees above $50 the place it traded when the deal was once authorized via Twitter’s board in past due April.

    Musk stated he was once terminating the merger on account of the lack of understanding about junk mail accounts and misguided representations that he stated amounted to a “subject matter adversarial tournament.” He additionally stated govt departures amounted to a failure to habits industry within the odd path, as Twitter was once obligated to do.

    Twitter stated it negotiated to take away from the merger settlement language that may have made such firings a contravention of odd path requirement.

    Twitter known as the explanations cited via Musk a “pretext” that lacked advantage and stated his resolution to stroll away had extra to do with a decline within the inventory marketplace, specifically for tech shares.

    Tesla’s inventory, the primary supply of Musk’s fortune, has misplaced 30% of its worth because the deal was once introduced and closed on Tuesday at $699.21.

    Felony mavens have stated that from the guidelines this is public Twitter would seem to have the higher hand on account of the best way Musk negotiated the deal, declining to do conventional pre-merger diligence.

    — ENDS —

  • Twitter Shareholders Meet Amid Elon Musk’s Takeover Drama

    Twitter’s frequently scheduled shareholder assembly Wednesday didn’t come with a vote on Tesla billionaire Elon Musk’s $44 billion bid for the social platform. That vote will happen at a yet-undetermined date someday.

    CEO Parag Agrawal mentioned on the outset that executives received’t be answering any questions surrounding the proposal. Even a query from a stockholder asking what’s going to occur to his stocks if somebody buys Twitter and takes it non-public used to be shot down. (If this occurs, the stockholder could be paid the agreed-upon acquire value for every percentage and the inventory could be delisted).

    Musk didn’t sign up for the assembly, despite the fact that he will have, being considered one of Twitter’s biggest shareholders.

    However the drama surrounding his be offering — nearly it all created by way of Musk himself — threatened to spill over into Wednesday’s complaints. Shareholders elevating proposals for a vote incessantly invoked his title. One proposal, by way of the New York State Commonplace Retirement Fund, referred to as for a file on Twitter’s insurance policies and procedures round political contributions the use of company finances. It handed in a initial vote.

    Two proposals introduced by way of conservative-leaning teams didn’t garner sufficient votes to go. One referred to as for an audit at the corporate’s “affects on civil rights and non-discrimination” and referred to “‘anti-racism’ techniques that search to ascertain ‘racial/social fairness’” as “themselves deeply racist.” The opposite sought extra disclosure at the corporate’s lobbying actions.

    A number of proposals spoke to the deep existential battle that’s been taking part in out amongst Twitter’s customers, staff, shareholders and staff. Whilst shareholders on one facet lambasted the corporate for what they see as too-liberal politics and a bias in opposition to conservatives (for which there is not any dependable proof), others mentioned the corporate is failing to give protection to customers from harassment, abuse and incorrect information.

    Musk’s “unfastened speech” edict — which he has indicated would govern the corporate if he is taking over, with out providing main points — has handiest infected the battle.

    Musk had promised that taking up Twitter would allow him to rid the social media platform of its hectic “junk mail bots.” However he’s been arguing, with out presenting proof, that there could be simply too a lot of the ones computerized accounts for the deal to transport forward.

    The pointy turnaround by way of the arena’s richest guy makes little sense apart from as a tactic to scuttle or renegotiate a deal that’s turning into more and more pricey for him, professionals mentioned final week. The truth that the entire thing is taking part in out publicly — on Twitter, no much less — handiest provides to the chaos that’s been a relentless in Musk’s bid, even prior to he made it.

    Previous in Might, the mercurial billionaire tweeted that the deal used to be “on cling” as a result of he sought after to pinpoint the choice of junk mail and pretend accounts at the social media platform after claiming that Twitter’s personal estimate is simply too low.

    Professionals say Musk can’t unilaterally position the deal on cling, despite the fact that that hasn’t stopped him from appearing as despite the fact that he can. If he walks away, he may well be at the hook for a $1 billion breakup charge. On the other hand, Twitter may sue Musk to pressure him to continue with the deal, despite the fact that professionals suppose that’s extremely not going.

    The uncertainty has weighed on Twitter’s stocks. Broader investor worries in regards to the social media sector have dragged stocks down this 12 months. Then past due Monday Snap, which runs the Snapchat app that includes vanishing messages and video particular results, issued a dire benefit caution, pronouncing that “the macroeconomic surroundings has deteriorated additional and sooner than expected” since simply final month.

    Social media corporations are competing for a similar pool of promoting cash this is more and more underneath risk from spiking inflation and likewise adjustments at Apple Inc. that may limit the guidelines social media platforms can acquire on customers, a large promoting level for advertisers.

    Stocks of Snap Inc. plunged 43% Tuesday, despite the fact that they recovered one of the loss Wednesday, mountain climbing just about 12% to $14.31.

    Stocks of Twitter have been up $1.09, or 3%, at $36.83 in early afternoon buying and selling on Wednesday. Musk has agreed to pay $54.20 according to percentage.

    At its personal annual shareholder assembly Wednesday, Fb’s company father or mother, Meta Platforms, and its founding CEO Mark Zuckerberg confronted heated complaint from shareholder.

    The fusillade focused Fb algorithms, slipshod controls over incorrect information and hateful content material that unsatisfied shareholders contended have undermined democracy, provoked homicide and mayhem and had a corrosive impact on youngsters.

    The discontent impressed a chain of proposals in the hunt for to require Meta to publish to extra unbiased oversight of Fb, Instagram and its different merchandise whilst lessening the ability of Zuckerberg, whose controlling stake within the corporate precipitated one outraged shareholder to lambaste him as an “elitist oligarch” all the way through the 70-minute assembly.

    However not one of the 12 proposals won greater than 30% make stronger, in keeping with the initial effects introduced Wednesday. The lopsided result in large part displays the ironclad grip that Zuckerberg holds via his majority stake in an organization that he famously began in a Harvard dorm room just about twenty years in the past.

    Zuckerberg. Meta’s chairman in addition to CEO, and the corporate’s different 8 administrators at the board additionally won greater than 90% backing to proceed of their roles. The resounding make stronger got here simply days after a big New York pension fund that owns Meta inventory mentioned it might vote in opposition to the administrators in protest.

    AP Generation Creator Michael Liedtke contributed to this tale.

  • Elon Musk Responds To Twitter CEO’s Clarification About Junk mail With Poop Emoji

    On Monday, Agrawal tried to provide an explanation for how junk mail impacts the platform in an in depth 15-part tweet thread so as to provide an explanation for how Musk’s plan may not be efficient except issues had been carried out internally.

    Musk it appears idea that remark was once crap. Actually, in response to his mature, measured reaction.

    Musk was once moderately extra articulate in a follow-up tweet.

    To this point, Agrawal hasn’t spoke back immediately to both of Musk’s tweets, however many Twitter customers felt forced to provide their ideas.

  • Again with the banned: Do Twitter’s exiles go back beneath Musk?

    QAnon loyalists, COVID deniers, neo-Nazis and a former American president: The checklist of other folks banned from Twitter is lengthy, however their exile may quickly come to an finish if Elon Musk’s $44 billion be offering for the platform is licensed.

    Musk, the sector’s richest guy and the landlord of SpaceX and Tesla, calls himself a loose speech absolutist who believes in permitting any content material that doesn’t run afoul of the regulation.

    Whilst Musk hasn’t presented specifics about how he would run the platform, his musings are prompting celebrations from a few of the ones muzzled via Twitter, at the same time as they alarm web protection professionals who expect a upward push in harassment, hate speech and incorrect information about subjects like vaccines and elections.

    Additionally Learn | Shubman Gill requests Elon Musk to shop for Swiggy in viral tweet. This is why

    “There’s no reason those other folks wouldn’t need to be on this house,” stated Jaime Longoria, supervisor of analysis and coaching on the Disinfo Protection League, a non-profit that works with native organizations to battle the consequences of incorrect information. “In the long run I believe Elon’s premise to save lots of the general public sq. goes to create a sq. that no person desires to be in.”

    From former President Donald Trump to conspiracy theorist Alex Jones to white supremacist David Duke, right here’s a take a look at who could be coming again to Twitter if Musk’s be offering to shop for it’s licensed.

    TWEETER IN CHIEF

    Trump stated he received’t go back to Twitter even though Musk lifts the ban imposed following the fatal Jan. 6, 2021, assault at the U.S. Capitol. The platform cited issues of additional incitement to violence.

    Following his banishment, Trump created his personal platform, Reality Social, which introduced previous this 12 months.

    “I’m really not occurring Twitter. I’m going to stick on Reality,” Trump informed Fox Information this previous week. “I’m hoping Elon buys Twitter as a result of he’ll make enhancements to it and he is a superb guy, however I’m going to be staying on Reality.”

    Trump constructed probably the most international’s greatest Twitter followings sooner than his suspension, the usage of his account to demean critics, unfold lies concerning the 2020 election and magnify probably bad incorrect information about COVID-19.

    Regardless of what the previous president stated, returning to Twitter could also be too tempting to withstand, stated Emerson Brooking, resident fellow on the Virtual Forensic Analysis Lab of the Atlantic Council.

    “If Donald Trump is the presidential nominee for the Republican Celebration in 2024, it’s virtually unthinkable that he received’t go back to Twitter the instant he has the chance to take action,” Brooking stated.

    Two former best advisers to Trump — Steve Bannon and Roger Stone — had been additionally banned via Twitter after many times violating their regulations. Bannon was once kicked off for calling for the beheading of Dr. Anthony Fauci, the country’s main infectious illness specialist.

    Stone, in the end suspended for a chain of vulgar threats in opposition to CNN newshounds, attempted to create a brand new Twitter account Thursday however was once temporarily re-suspended.

    Different Trump allies kicked off Twitter come with Michael Flynn and Sidney Powell, Lin Picket and Rep. Marjorie Taylor Greene, who was once completely banned in January for many times spreading incorrect information about COVID-19 and vaccine protection.

    HATE SPEECH AND WHITE SUPREMACISM

    Possibly the trickiest problem for Musk might be content material that, whilst criminal, preaches hate in response to such things as race, gender, sexual orientation or faith.

    White supremacists banned via Twitter come with Duke and the Proud Boys group, in conjunction with far-right trolls like one that is going via the identify Baked Alaska, who promoted anti-Semitic tropes and faces fees stemming from his involvement within the Jan. 6 assault at the U.S. Capitol.

    Twitter’s efforts to police hate speech have had blended effects. Whilst some extremist leaders had been vanquished, a snappy seek of the platform turns up a large number of racist slurs and assaults.

    A number of admitted white supremacists nonetheless on Twitter celebrated information of Musk’s passion within the platform, predicting this possession will imply looser regulations. “We’re liberated!” one wrote this week.

    “The extremists are celebrating,” tweeted Jonathan Greenblatt, CEO of the Anti-Defamation League. “They consider he’ll herald a ‘new generation’ on Twitter & that they’ll go back to the platform. That is bad.”

    CONSPIRACY THEORISTS AND QANON

    Twitter started cracking down on QAnon content material on its platform years in the past and speeded up the method following the assault at the Capitol. Greater than 150,000 accounts were suspended as of remaining 12 months, in line with the corporate’s newest replace.

    QAnon fans suggest a conspiracy principle rooted within the baseless trust that Trump was once preventing so-called deep state enemies and a cabal of Devil-worshipping cannibals running a kid intercourse trafficking ring. The mob that stormed the Capitol integrated some believers.

    Now, a few of them are desperate to get again on Twitter.

    “The Twitter deal is completed,” Ron Watkins, a outstanding QAnon chief, wrote at the platform Telegram. Watkins’ Twitter account was once spiked remaining 12 months. “Banned accounts might be restored,” he predicted.

    Different conspiracy theorists have additionally felt Twitter’s sting, although most often best when their said ideals have driven over into hate or harassment.

    David Icke was once kicked off the platform two years in the past for spreading incorrect information about COVID-19, together with claims that Jews and 5G towers had been at the back of the pandemic. Icke is a outstanding suggest of the conclusion {that a} race of lizard other folks have taken over the Earth via posing as human leaders.

    Alex Jones, the writer of Infowars, was once completely banned in 2018 for abusive habits. Jones not too long ago misplaced a defamation case filed via the oldsters of kids killed within the 2012 Newtown, Connecticut, faculty capturing over Jones’ repeated claims that the capturing was once pretend. 21st graders and 6 academics had been killed within the bloodbath. Infowars is now looking for chapter coverage.

    HAPPY IN EXILE?

    Trump will not be the one consumer kicked off Twitter who finally ends up glad in a brand new house. Different new platforms, like Gab, GETTR and Parler, have grown in recent times via catering to conservative and far-right customers who dislike Twitter and Fb’s moderation insurance policies.

    The brand new websites have little to no moderation, that means Nazi imagery, homophobic threats and misogynistic content material can also be simply discovered along conversations about U.S. politics and tradition.

    After Musk’s acquire be offering, Gab CEO Andrew Torba predicted the billionaire will combat to understand his imaginative and prescient for Twitter. Whilst Trump could also be sticking together with his personal new platform for aggressive causes, different conservatives will not be straight away tempted via Musk’s guarantees of loose speech absolutism. Twitter’s workers, for one, would possibly publish a struggle, in line with Torba.

    Parler CEO George Farmer sounded a an identical word in a message to customers.

    “We’re going nowhere,” Farmer wrote.