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Tag: micro-blogging platform

  • Twitter hires legislation agency Wachtell to sue Musk after pulling out of $44 billion deal

    After Tesla CEO Elon Musk known as off the deal to purchase Twitter, the microblogging platform has employed US legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue him and power him to finish the $44 billion acquisition of the social media firm.

    Twitter Inc has employed US legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue Elon Musk and power him to finish the $44 billion acquisition of the social media firm.

    Twitter Inc has employed U.S. legislation agency Wachtell, Lipton, Rosen & Katz LLP because it prepares to sue Elon Musk and power him to finish the $44 billion acquisition of the social media firm, in response to individuals acquainted with the matter.

    Musk, the chief govt officer of Tesla, on Friday terminated his deal, saying Twitter had failed to supply details about faux accounts on the platform, after which Twitter’s chairman, Bret Taylor, vowed a authorized combat.

    Twitter is planning to file a lawsuit early this week in Delaware, individuals acquainted with the matter mentioned.

    Twitter declined to remark whereas the legislation agency didn’t instantly reply to Reuters’ request for remark outdoors enterprise hours.

    Wachtell, Lipton, Rosen & Katz was one of many authorized advisers for Musk’s plan to take Tesla non-public in 2018. Musk tweeted that there was “funding secured” for a $72 billion deal to take Tesla non-public however didn’t transfer forward with a proposal.

    Musk and Tesla every paid $20 million in civil fines, and Musk stepped down as Tesla’s chairman to resolve U.S. Securities and Exchange Commission claims that he defrauded traders.

    Twitter’s current authorized staff contains Simpson Thacher & Bartlett LLP and Wilson Sonsini Goodrich & Rosati.

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  • What lies forward for Twitter with Musk on the helm

    Less than a month since he purchased a 9.2% stake in Twitter Inc., billionaire Elon Musk is now poised to accumulate the micro-blogging platform. Mint explores what might lie forward for the platform as soon as the world’s richest man is on the helm.

    What are Musk’s plans for Twitter?

    Between a press release from Musk on 26 April, polls he has carried out over the previous few weeks, and different public statements, it appears clear that the world’s richest man needs to make Twitter a bastion without cost speech. He plans to open-source the algorithm that ranks content material on the platform, and “defeat the spam bots or die attempting”. The platform is now anticipated to turn into a playground for crypto and web3 fanatics, and Musk has confirmed willingness to supply cheaper subscription. Lastly, he has talked about his imaginative and prescient might solely be realized by taking the corporate personal.

    Can Twitter turn into a bastion of free speech?

    Easier mentioned than carried out. Experts have identified that free speech is neither outlined by corporations, nor personal people, even when they’re the richest on the earth. Instead, the definition of free speech differs from nation to nation, and relies on their legal guidelines. For occasion, in India, free speech has sure exclusions and isn’t an absolute proper. Twitter has tussled with governments in numerous international locations together with India over content material takedown requests, and lots of anticipate extra such tussles sooner or later. Experts warn that this would possibly scale back the constructive impression of moderation on the platform, and in flip result in extra hate speech.

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    Photo: AFP

    Can Musk defeat the spam bots?

    Unlikely. In 2017, a research by the University of Southern California and Indiana University mentioned about 15% of all Twitter accounts on the time have been bots. Between January-June 2021, Twitter obtained 5.1 million spam stories from customers, in accordance with its personal Transparency Report. The downside of bots is widespread throughout the web, not simply in social media.

    Could open-sourcing the algorithm assist?

    Last week, Koo, Twitter’s India different, printed a weblog submit explaining the “philosophy and workings” of its algorithms, however Musk is claiming that he’ll make all the algorithm public, permitting folks to know how content material is ranked. But, typically, even the programmer who coded an AI algorithm doesn’t perceive why a choice is being made. Open-sourcing an algorithm means you may see the code, however you will nonetheless not know the insurance policies which might be affecting how that code works. It might permit extra Twitter clones, although.

    What else is Musk anticipated to alter?

    Like Jack Dorsey, Twitter’s co-founder and former chief government, Musk is likely one of the most vocal proponents of cryptocurrencies. Musk, prior to now, has steered that customers ought to have the ability to pay for the agency’s subscription function, Twitter Blue, utilizing crypto. Under him, crypto-related options are anticipated to roll out quicker. He has additionally mentioned subscription to Twitter Blue needs to be cheaper, and everybody who pays ought to get a checkmark after 60 days. He has steered eradicating adverts from Twitter, at the very least to some extent.

     

     

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  • Twitter adopts ‘poison pill’ to combat Musk takeover

    Twitter Inc on Friday adopted a limited-duration shareholder rights plan to guard itself from billionaire entrepreneur Elon Musk’s $43 billion money takeover supply.

    Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has grow to be a worldwide technique of communication for people and world leaders – and it was made public in a regulatory submitting on Thursday.

    After his TED discuss on Thursday, Musk hinted at the potential of a hostile bid through which he would bypass Twitter’s board and put the supply on to its shareholders, tweeting: “It would be utterly indefensible not to put this offer to a shareholder vote.”

    Under the plan, also called a ‘poison pill’ technique to withstand a bid from a possible acquirer, the rights will grow to be exercisable if anybody acquires possession of 15% or extra of Twitter’s excellent widespread inventory in a transaction not accredited by the Board.

    The rights plan will expire on April 14, 2023, Twitter mentioned.

  • Twitter’s Super Follows will solely come to customers with 10,000 or extra followers

    With Twitter’s subscription platform reside in some international locations, the Super Follow characteristic can’t be too distant. The firm introduced the characteristic earlier this 12 months, which permits creators to cost followers for particular content material. Now, reverse engineering skilled Jane Manchun Wong, has tweeted some screenshots of what the characteristic will appear to be. Wong has a historical past of being correct with Twitter characteristic leaks, so that is seemingly our first take a look at the characteristic.

    According to Wong’s analysis, the Super Follow characteristic will solely come to customers with over 10,000 followers, who’re at the very least 18 years previous and have posted at the very least 25 tweets previously 30 days. It additionally consists of numerous content material classes, starting from images, to information, music, tech, sports activities, grownup content material and extra.

    The characteristic permits customers to cost followers for particular content material, like tweets, podcasts and extra. The actual pricing construction isn’t recognized but, however Wong’s screenshots point out a $4.99 monthly subscription worth. It appears those that use the Super Follow characteristic can even get an earnings estimate based mostly on the month-to-month subscription worth. Twitter estimates this at 2% of whole followers.

    The micro-blogging platform has been engaged on including extra monetization options for just a few months now. Twitter founder, Jack Dorsey, had introduced Super Follow and different subscription options in February, and the corporate additionally launched the Tip Jar characteristic final month, which permits followers to pay creators for his or her tweets.

    Twitter additionally launched its subscription service — Twitter Blue — final week. The service is obtainable in Australia and Canada solely, in the intervening time, and permits customers to pay Twitter to achieve entry to particular options. Chief amongst these is the undo tweet characteristic that permits customers to set a customizable timer of as much as 30 seconds during which they’ll unsend a tweet, reply or thread that they’ve posted.

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