Twitter Employees Search for Answers as Musk Takeover Becomes ... (The New York Times)
Workers say they have been left largely in the dark about what a sale to the billionaire would mean for them and their shares in the company.
The stress at the mention of Mr. Musk is a stark contrast to the welcome he enjoyed from employees two years ago. But other employees have argued in internal messages seen by The Times that their co-workers have shifted too far to the left side of the political spectrum, making employees who support Mr. Musk’s plans too uncomfortable to speak up. Mr. Musk, after all, fought with officials in California to keep his car factory open early in the pandemic. Employees said they feared missing out on the long-term value of their stock at Mr. Musk’s price of $54.20 per share. “This is meant to provide some peace of mind and explain how these things typically work, not because we believe there will be one outcome versus another,” he wrote in messages to employees reviewed by The Times. As the takeover fight played out over the last two weeks, Twitter employees said they were frustrated that they had heard little from management about what it meant for them, even as Twitter closed in on a deal with Mr. Musk on Monday morning. Twitter’s recruiting problem could balloon further if current employees quit, as some have warned they would do if Mr. Musk took over. One of the top concerns among Twitter workers is whether they will take a financial hit from Mr. Musk’s acquisition. They see Mr. Musk’s proposal to revert to Twitter’s early, lax approach as a rebuke of their work. After years of leadership squabbles, demands for change from activist investors and the boundary-testing tweets of former President Donald J. Trump, Twitter’s more than 7,000 employees are accustomed to turmoil. As the board of directors confers with bankers, lawyers and expensive public relations firms, employees are often kept in the dark. Employees said they had largely stopped celebrating the richest man in the world since he declared his intent this month to buy Twitter, scrap its content moderation policies and transform the publicly traded company into a private one.
Jeff Bezos questions China's influence over Elon Musk's Twitter (The Guardian)
Amazon founder raises concerns after Tesla boss strikes $44bn deal to buy social media platform.
The Musk takeover has been unexpected and controversial among Twitter employees. The tweet said China may now have a way of holding leverage over “My own answer to this question is probably not.
Elon Musk to acquire Twitter in $44 billion deal (PRIMETIMER)
Twitter has agreed to sell itself to Musk, the CEO of Tesla and SpaceX.
I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. UPDATE: In his first tweet since the news became official, Musk posted an excerpt of the Twitter press release, quoting him as saying: “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. Twitter has agreed to sell itself to Musk, the CEO of Tesla and SpaceX. "Once completed, the richest person in the world will own arguably the most influential social platform in the world, though from a business and user standpoint Twitter is significantly smaller than companies like Facebook or TikTok," says The Hollywood Reporter's Alex Weprin." In a tweet hours before the deal was approved, Musk tweeted: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
From weed joke to agreed deal: Inside Musk's $44 billion Twitter ... (CNA)
Twitter Inc and its advisers were not sure at first how seriously to take him.Elon Musk's $54.20-per-share offer price for the social media company on April ...
Twitter shares, which had ended trading at $45.08 the day that Musk unveiled his bid, closed at $51.70, only a small discount to the deal price. If Twitter ignored Musk, some of the investors threatened to side with him in a tender offer that he had said he was exploring. The exact fee is expected to be disclosed in regulatory filings on Tuesday. That view was shared by many Twitter shareholders, including big active mutual funds, who reached out to Twitter after Musk showed he had financing for his offer. The board did not believe Agrawal could bring the stock back to $54.20 anytime soon. Such references harken back to his 2018 "funding secured" tweet stating that he was considering taking electric car maker Tesla Inc private for $420 per share.
With Musk in Charge at Twitter, Could Jack Come Back? (Bloomberg)
Hackers stole $3 million after breaking into the Bored Ape Yacht Club Instagram account; Crypto billionaire Sam Bankman-Fried talked candidly about how money ...
Twitter is protecting its source code from disgruntled employees ... (TechCrunch)
Twitter locked down its source code to prevent unauthorized changes, sources familiar with the matter told Bloomberg. The reports say that this change was ...
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Elon Musk's Twitter takeover: what will change, is free speech at risk ... (The Guardian)
Billionaire's buyout of social media company reignites debate about leaving the platform but is it too soon to act – and where could you go?
The easiest way to do that is through the “Settings and privacy” tab in the menu of the Twitter app. It really comes down to why you used Twitter in the first place. It’s partially why Musk might have been motivated to buy Twitter rather than starting his own social media site, like others, including Trump, have attempted. If you’ve stuck with what many people call “the hell site” for this long, it’s questionable whether Musk taking it over will be some sort of final straw. The Guardian asked Twitter what data was retained once a user permanently deletes their account. Musk has suggested he is a “free speech absolutist”.
Musk's Twitter takeover may boost Facebook, Google and Snap ad ... (CNBC)
"Advertisers may shift budgets to other channels given brand safety concerns," JMP analysts wrote in a Tuesday note.
Those ad budgets would likely shift to other platforms like Snap, Pinterest and TikTok, the firm said. In 2017, brands like Coca-Cola and Microsoft pulled ad spend from YouTube over the misplacement of ads next to extremist content. As part of the "StopHateForProfit" campaign against Facebook in July 2020, major advertisers from Unilever to Starbucks announced various pauses in spending.
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