Tag Archives: social media

Bloomberg News reports: Twitter Inc. owner Elon Musk said the social media company will change its logo soon, getting rid of the blue bird that’s long been its signature. “If a good enough X logo is posted tonight, we’ll make go live worldwide tomorrow,” Musk tweeted late Saturday. Roughly six months after he acquired Twitter for $44 billion, he merged …

Reuters reports: Twitter, which has asked a court to terminate a consent order struck last year with the Federal Trade Commission (FTC) related to data breaches, said in a court filing on Thursday that it planned to subpoena Senator Elizabeth Warren in connection with the fight. Twitter asked last week for the consent order to be scrapped, accusing the FTC …

Bloomberg News reports: Twitter owner Elon Musk said the company still has a negative cash flow because of its heavy debt load and a roughly 50% drop in advertising revenue. The social media site will “need to reach positive cash flow before we have the luxury of anything else,” Musk said in a tweet. Advertiser spending dropped 89% to $7.6 …

The Associated Press reports: The 5th Circuit Court of Appeals on Friday granted a temporary stay of a July 4 order putting sweeping limitations on the Biden administration’s communications with social media companies. The stay was granted by a panel of 5th Circuit judges, which includes Clinton-appointee Carl E. Stewart, Obama-appointee James E. Graves and Trump-appointee Andrew S. Oldham. Oldham …

The Washington Post reports: On Thursday, Twitter announced that it would begin sharing ad revenue with content creators on its platform for the first time. But the offer won’t apply to all creators. The first beneficiaries appear to be high-profile far-right influencers who tweeted before the announcement how much they’ve earned as part of the program. Ian Miles Cheong, Benny …

Reuters reports: Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw Twitter’s employee benefits programs as its “head of total rewards” before she was laid off in January, filed …

TechCrunch reports: Recently hired Twitter CEO Linda Yaccarino is pushing back at reports that Twitter traffic is tanking as a result of the July 5th launch of a new competitor, Instagram Threads. But the company does seem to be concerned about the potential threat posed by Meta’s rival, now topping 100 million users. On Monday, users reported that Twitter seems …

Bloomberg News reports: A federal judge in Louisiana denied a request by the US government to delay an order he imposed last week banning federal agencies and officials from communicating with social media companies. The Justice Department is expected to ask the 5th US Circuit Court of Appeals to intervene after US District Court Judge Terry Doughty on Monday refused …

Politico reports: Utah Gov. Spencer Cox said Sunday he is getting ready to sue social media companies for the harm caused to his state’s young people. “In the coming months, you will see lawsuits being filed by the state of Utah to hold them accountable,” Cox, a Republican, said during an interview on CBS’ “Face the Nation.” Cox signed legislation …

Digital World reports: Just to give you a better understanding of the mega success it has attained in a two-day span, even the world’s leading apps couldn’t make the breakthrough records and success it has attained. Remember, ChatGPT got 100 million users in two months while TikTok got 100 million downloads in 9 months. Meanwhile, Meta’s own Instagram attained 100 …

Reuters reports: Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company. The complaint by Musk’s X Corp, which owns Twitter, was filed on Wednesday in the California …

Bloomberg News reports: Meta Platforms Inc.’s new social media app Threads has garnered 70 million users in just two days after its launch, a sign of enthusiasm that Chief Executive Officer Mark Zuckerberg said was “way beyond our expectations.” Threads launched on Wednesday as an alternative to Elon Musk’s Twitter, which had 237.8 million users as of July 2022, but …

Semafor reports: Twitter is threatening legal action against Meta over its new text-based “Twitter killer” platform, accusing the social media giant of poaching former employees to create a “copycat” application. A lawyer for Twitter, Alex Spiro, sent a letter to Meta CEO Mark Zuckerberg accusing the company of engaging in “systematic, willful, and unlawful misappropriation of Twitter’s trade secrets and …

CBC News reports: More than 30 million people have signed up to Threads, Meta’s rival to Twitter, within the first few hours of its launch, Meta CEO Mark Zuckerberg said late Thursday morning. The number is likely to grow quickly as more Instagram users and social media fans open accounts on Threads. The app is the biggest challenger yet to …

Axios reports: The Biden administration is appealing a court ruling that would limit government officials and agencies from communicating with social media companies on content moderation, according to court filings Wednesday. U.S. District Court Judge Terry Doughty issued a preliminary injunction Tuesday in relation to an ongoing lawsuit from Republican attorneys general filed by Louisiana and Missouri that alleges the …

Reuters reports: Meta Platforms on Wednesday launched a direct challenge to Twitter with Threads, garnering millions of users in hours as it sought to take advantage of its rival’s much-weakened state after a series of chaotic decisions from owner Elon Musk. Those quick to join the new platform included celebrities such as Kim Kardashian and Jennifer Lopez as well as …

TechCrunch reports: Days after requiring users to log in to view tweets, Twitter has silently removed these restrictions. This means you can open Twitter links in a browser without an account. When Twitter started enforcing the login requirement, Musk said that he took these “temporary” measures to prevent data scraping. The company hasn’t made any official announcement about allowing users …

Bloomberg News reports: Meta Platforms Inc.’s Threads app — the social network rolling out this week to take on Twitter Inc. — won’t be offered in the European Union as the company works out how data sharing between the new platform and its Instagram app will be regulated. Meta is waiting for more guidance around the Digital Markets Act, new …

The Washington Post reports: A federal judge on Tuesday blocked key Biden administration agencies and officials from meeting and communicating with social media companies about “protected speech,” in an extraordinary preliminary injunction in an ongoing case that could have profound effects on the First Amendment. The injunction came in response to a lawsuit brought by Republican attorneys general in Louisiana …

Axios reports: Digital World Acquisition Corp., the special purpose acquisition company that inked a deal to acquire former President Trump’s media and tech company, said on Monday that it has struck a tentative settlement with securities regulators. The SEC’s probe into the merger, which would result in Trump’s Truth Social becoming a publicly traded company, has delayed the deal considerably. …