Business

SEC Charges Crypto Mogul In Alleged Fraud Scheme

Via press release from the SEC: The Securities and Exchange Commission today charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd. (FTX), the crypto trading platform of which he was the CEO and co-founder. Investigations as to other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing. …

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Twitter Axes Council Tasked With Fighting Hate Speech

The Washington Post reports: Twitter on Monday night abruptly dissolved its Trust and Safety Council, the latest sign that Elon Musk is unraveling years of work and institutions created to make the social network safer and more civil. Members of Twitter’s Trust and Safety Council received an email with the subject line, “Thank You,” that informed them the council was …

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Crypto Mogul Arrested In The Bahamas On US Charges

ABC News reports: Sam Bankman-Fried, the embattled former CEO of cryptocurrency giant FTX and trading firm Alameda Research, has been arrested in the Bahamas on criminal charges, the Bahamas Attorney General’s Office announced Monday. The arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition,” …

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Twitter To Raise Character Limit From 280 To 4000

The Hill reports: Twitter CEO Elon Musk on Sunday suggested the platform will dramatically increase character limits on tweets from 280 to 4,000. “Elon is it true that Twitter is set to increase the characters from 280 to 4000?” one user tweeted at the social media platform’s new owner. “Yes,” Musk responded. Such a change would shift Twitter away from …

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Musk Gets Loudly Booed At Dave Chappelle Show

Gizmodo reports: Elon Musk, the billionaire who wants nothing more in life than to be adored by legions of fans, was loudly booed by a crowd in San Francisco on Sunday night after he was invited onstage by comedian Dave Chappelle. And the footage is pretty rough, even if you don’t particularly like Musk. “Ladies and gentlemen, make some noise …

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Musk Implies Gay Former Twitter Exec Is A Pedophile

Bloomberg News reports: Elon Musk posted tweets including an excerpt of Yoel Roth’s doctoral dissertation Saturday that suggested the former Twitter executive is an advocate for child sexualization — a baseless trope that leaves Roth susceptible to online abuse. “Looks like Yoel is arguing in favor of children being able to access adult Internet services in his PhD thesis,” tweeted …

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Twitter To Relaunch Sales Of Blue Check “Verifications”

The Hill reports: Twitter announced it will relaunch its subscription service on Monday, although prices will be higher for Apple users in an apparent jab at the tech giant’s fees on in-app purchases. The social media company said users can subscribe to Twitter Blue, which includes a blue checkmark, editing abilities and 1080-pixel video uploads, for $8 per month if …

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GOP Opposes Merger Of “Woke” Grocery Giants

Via email from the Family Research Council: Kroger CEO Rodney McMullen and Albertsons CEO Vivek Sankaran appeared before the Senate Judiciary Committee to answer questions related to a proposed merger between two of the nation’s largest grocery chains. Senator Tom Cotton (R-Ark.) cautioned Kroger against expecting “Republican senators to carry the water for them” while pursuing corporate policies that promote …

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Elon Musk Sued For Gender Bias In Wave Of Firings

Bloomberg Law reports:  The mass layoffs and constructive discharges that have hit Twitter Inc. since Elon Musk bought the company have impacted female employees to a significantly greater degree than male workers, a new class lawsuit charges. That women were more affected by Musk’s immediately laying off more than half of Twitter’s workforce and his “quickly implemented new policies” is …

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GOP Miami Mayor To Musk: Relocate Twitter To Miami

Axios reports: Miami’s Mayor Francis Suarez (R) this week urged Elon Musk to relocate Twitter’s headquarters to his city.”[Elon Musk] it’s TIME to move @twitter headquarters to Miami. It’s not about politics, it’s about the soul of our country,” Suarez tweeted. The invitation comes after Musk expressed frustrations over San Fransisco, where Twitter is headquartered, after city officials started investigating …

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Elon Musk Dethroned As World’s Wealthiest Person

The Daily Beast reports: Elon Musk lost the title of world’s richest person on Wednesday, according to Forbes’ billionaire rankings. The Tesla CEO lost $3.4 billion of his net worth overnight as the electric car company’s stock plummetted. So far this year, Musk has lost more than $100 billion to the carmaker’s tanking stock, though previous losses didn’t affect his …

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Feds Probe Elon Musk’s Neuralink Over Animal Cruelty

Reuters reports: Elon Musk’s Neuralink, a medical device company, is under federal investigation for potential animal-welfare violations amid internal staff complaints that its animal testing is being rushed, causing needless suffering and deaths, according to documents reviewed by Reuters and sources familiar with the investigation and company operations. Neuralink Corp is developing a brain implant it hopes will help paralyzed …

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General Electric Buys Out Entire NYT Print Edition

Axios reports: The New York Times on Tuesday unveiled a unique version of its weekday print paper featuring more than two dozen ads from just one advertiser — General Electric. It’s the first time in the paper’s 171-year history that any advertiser has gotten to own all of The Times’ print real estate exclusively — in addition to most of …

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Musk Claims Apple Now “Fully Advertising” On Twitter

Bloomberg News reports: Elon Musk said Apple Inc. has “fully resumed” advertising on Twitter Inc., further de-escalating a brewing war between two of the world’s most influential tech companies. Musk made the comments during a Twitter Spaces conversation on Saturday, adding that Apple is the largest advertiser on the social media network. The billionaire, who didn’t elaborate further on Apple, …

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Twitter’s Advertising Revenue Continues To Crater

The New York Times reports: The World Cup has historically been a boon for Twitter, bringing in record traffic and an influx of advertising dollars. But this time, when the global soccer tournament started on Nov. 20, Twitter’s U.S. ad revenue was running at 80 percent below internal expectations for that week, three people with knowledge of the figures said. …

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WSJ: Apple To Move Some Production Outside China

The Wall Street Journal reports: In recent weeks, Apple as accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly India and Vietnam, …

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Hate Speech Soars On Twitter After Musk’s Takeover

The New York Times reports: Before Elon Musk bought Twitter, slurs against Black Americans showed up on the social media service an average of 1,282 times a day. After the billionaire became Twitter’s owner, they jumped to 3,876 times a day. Slurs against gay men appeared on Twitter 2,506 times a day on average before Mr. Musk took over. Afterward, …

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REPORT: Florida To Reverse On Disney’s Special District

Orlando’s Fox affiliate reports: A resolution to the politically charged conflict that developed this year between the state of Florida and the Walt Disney Company may reportedly be in the works. The state’s lawmakers are working on plans to reverse a move that would strip Disney of its right to operate a private government around its theme parks, according to …

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Musk Admits Apple Never Threatened To Ban Twitter

Axios reports: Elon Musk took to Twitter on Wednesday in an attempt to lower the heat in a fight he picked with Apple on Monday. “We resolved the misunderstanding about Twitter potentially being removed from the [Apple] App Store,” Musk claimed in a tweet, after thanking Apple CEO Tim Cook for taking him around Apple headquarters Wednesday. “Tim was clear …

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Musk Company To Test Computing Brain Implants

Bloomberg News reports: Elon Musk’s Neuralink Corp. aims to start putting its coin-sized computing brain implant into human patients within six months, the company announced at an event at its Fremont, Calif. headquarters on Wednesday evening. Neuralink has been refining the product, which consists of a tiny device and electrode-laced wires, along with a robot that carves out a piece of …

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