ReportWire

Tag: social media

  • How a 51-year-old celebrity hacker upended one of the world’s most influential social networks | CNN Business

    How a 51-year-old celebrity hacker upended one of the world’s most influential social networks | CNN Business

    [ad_1]


    New York
    CNN Business
     — 

    When Peiter Zatko joined Twitter as head of security in late 2020 at the urging of founder and then-CEO Jack Dorsey, he was surprised by what he discovered. Twitter, a social network with hundreds of millions of users, “was over a decade behind industry security standards,” he later testified.

    Barely a year later, Zatko was agitating for Twitter’s top executives to address what he described as “a ticking bomb of security vulnerabilities” and to provide a full accounting of its shortcomings to its board.

    His concerns, raised privately at first and later in a whistleblower disclosure that became public, would upend one of the world’s most influential social networks and raise new questions about its pending acquisition by the world’s richest man, Elon Musk. It would also, he later testified, put his career and his family at risk.

    In his disclosure filed with various US government agencies in July, Zatko alleged that Twitter

    (TWTR)
    trusted far too many employees with access to sensitive user data, creating a fragile security posture that an outsider could exploit to wreak havoc on the platform. The disclosure also claimed that one or more current Twitter

    (TWTR)
    employees may be working for a foreign intelligence service, potentially threatening user data and US national security, and that Twitter

    (TWTR)
    CEO Parag Agrawal misled the company’s board of directors by discouraging Zatko from providing a full account of Twitter

    (TWTR)
    ’s security weaknesses. (Twitter

    (TWTR)
    has criticized Zatko and broadly defended itself against the allegations.)

    “Given the real harm to users and national security, I determined it was necessary to take on the personal and professional risk to myself and to my family of becoming a whistleblower,” Zatko, better known as “Mudge” in cybersecurity circles and highly regarded in that community, said during a Senate hearing on his disclosure in September. “I did not make my whistleblower disclosure out of spite or to harm Twitter, far from that, I continue to believe in the mission of the company and root for its success.”

    Since going public with his concerns, Zatko, who has held numerous posts in the private and public sector, has found himself at the center of renewed scrutiny of Twitter. He testified last month in a Senate committee hearing about his disclosure, and his allegations have caught the attention of various regulators both in the United States and abroad. Meanwhile, his former colleagues received requests for paid interviews from research firms apparently seeking information, and potentially dirt, on Zatko, according to a report last month by the New Yorker.

    The disclosure also coincided with, and ultimately became a part of, Musk’s fight to get out of his $44 billion deal to buy Twitter. Zatko was deposed by Musk’s team and the billionaire was allowed to add some of Zatko’s allegations to his argument to terminate the deal. Although it now appears Musk wants to go forward with the acquisition, the timing of Zatko’s allegations sparked questions about his motives. (Zatko denies any relationship with Musk and says his decision to go public was unrelated to the deal; Musk’s legal team says it was unaware of the disclosure until it was publicly reported.)

    Twitter pushed back on Zatko’s allegations, saying that security and privacy have “long been top company-wide priorities.” Twitter has said his disclosure is “riddled with inconsistencies and inaccuracies,” and said that it paints a “false narrative” of the company. Twitter has also tried to paint Zatko as a disgruntled former employee with an ax to grind against the company.

    But some who have worked alongside Zatko over the last three decades paint a picture of him as a principled technologist with a knack for making the complex accessible and an earnest desire to fix problems, as he’s done for much of his career. The decision to blow the whistle, they say, is in keeping with that approach.

    “He’s not doing this for fun. It doesn’t get him anything,” said Dave Aitel, a former computer scientist at the National Security Agency and colleague of Zatko’s at cybersecurity consulting firm @stake. “That’s actually what integrity looks like when you have to see it up close.”

    As a result of his whistleblower activities, Zatko may be eligible for a monetary award from the US government. John Tye, founder of Whistleblower Aid and Zatko’s lawyer, previously told CNN “the prospect of a reward was not a factor in [Zatko’s] decision.”

    Nearly 25 years ago, as a young computer programmer with much longer hair, Zatko told Congress that the internet was woefully insecure. A big part of the issue, Zatko told a Senate panel, was that software and e-commerce companies “want to ignore problems as long as possible. It’s cheaper for them.”

    Several years earlier, Zatko had joined the Boston-area hacking collective known as L0pht, according to “The Cult of the Dead Cow,” Washington Post reporter Joseph Menn’s book on how the early hacking scene shaped the cybersecurity industry.

    L0pht members broke into computer systems and then worked with companies that made the equipment to fix the problems. While that is now a well-established practice for companies to work with outside researchers to fix software flaws, it was, at the time, seen as provocative and upsetting to software giants.

    Zatko “sort of bent the industry to his will,” Dug Song, chief strategy officer at Cisco Security, who has known Zatko since the 1990s, told CNN previously. “L0pht created a model for how to do this in a way that was, frankly, respectable and honorable.”

    Zatko was part of a group of hackers who participated in the first Senate hearing on government computer security in May 1998.

    Cris “Space Rogue” Thomas, another ex-L0pht member who testified alongside Zatko that day, said that L0pht would do everything it could to get companies to collaboratively fix software issues the hacker group found.

    Thomas, who, like Zatko, uses his hacker name professionally, told CNN in August that he and Zatko “have had our differences in the past,” adding that he was fired from @stake, the cybersecurity consultancy where Zatko was chief scientist, in 2000. “Feelings were hurt, but that doesn’t change the fact of who [Zatko] is and what he believes in and what he does. So I still think that his moral standards have not really changed … in the 30 years that I’ve known him.”

    In the following years, Zatko, now 51, led an influential cybersecurity grantmaking program at the Pentagon, worked at a Google division for developing cutting-edge technology, helped build the cybersecurity team at fintech firm Stripe, and advised US lawmakers and officials on how to plug security holes in the internet.

    His career has shown that “there was more to hacking than just one-upping each other, that there was actually a social good and impact that you could have,” said Song.

    Twitter hired Zatko in November 2020 to beef up cybersecurity and privacy at the company in the wake of a high-profile hack, allegedly spearheaded by a Florida teenager, in July 2020 that compromised the Twitter accounts of some of the most famous people on the planet, including then-presidential candidate Joe Biden. The senior executive role meant Zatko reported directly to Dorsey, according to the disclosure.

    When he was hired to join Twitter, Zatko framed the move in terms of the public good. “I truly believe in the mission of (equitably) serving the public conversation,” he tweeted at the time. “I will do my best!”

    Zatko, seen here posing for a portrait in August, was hired at Twitter in November 2020 to help improve cybersecurity and privacy at the company.

    But Zatko quickly found that fulfilling that mission at Twitter would be challenging. His disclosure alleges that structural issues and misaligned incentives stood in the way of Twitter addressing many of its biggest issues, including properly protecting user data, addressing foreign manipulation of the platform and ensuring the security of the physical infrastructure supporting the company.

    Agrawal — Dorsey’s successor as Twitter chief and a former CTO who had overseen much of the company’s recent technical development — fired Zatko in January after he began raising concerns about the company’s security and privacy practices, including worries that alleged misrepresentations by executives to its board could constitute fraud, the disclosure says. (Twitter maintains an internal investigation determined Zatko’s fraud claims were unfounded and that it fired Zatko for poor performance; Zatko says his firing was retaliation for having spoken up.)

    “This is about something that everybody should care about with large companies, which is the honesty and the truthfulness of the data that’s being… publicly represented, the national security implications and whether users can trust their data with these organizations,” Zatko told CNN in August of his decision to file the disclosure.

    Now, as he takes on Twitter publicly, Zatko finds himself in the public conversation like never before.

    “This wasn’t my first choice,” he previously told CNN. “I exhausted all internal options.”

    “But I found that ethically, and with who I am, that I was obligated to follow the law and pursue through legal avenues, lawful disclosure, because [Twitter] is a critically important platform,” Zatko said. “I think it’s important to address some of these challenges. I honestly believe I’m still doing the mission that I was brought in to do.”

    [ad_2]

    Source link

  • Want to Get Verified on Instagram? Don’t Fall For These 3 Verification Scams

    Want to Get Verified on Instagram? Don’t Fall For These 3 Verification Scams

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Whether you’re a thought leader, influencer or entrepreneur, you probably have “get verified on Instagram” on your to-do list. And you should. The coveted blue check mark is valuable for any business leader, but especially for those whose work relies on having a positive public persona.

    Not only does the check mark put you in an elite group — less than 5% of Instagram accounts are granted a verified status — but it also protects you from imposters hijacking your online presence. Which of the dozens of Ryan Reynolds’ Instagram accounts is the real one? The one with the blue check mark.

    So, how do you get verified on Instagram? There are those who would tell you that the process is easy and requires only a little bit of time, a few forms and some money. Don’t believe them. Those people are scammers who are trying to get access to your private information or take your money.

    As Instagram explains on its website, verification is something that is offered to those who “represent a well-known, highly searched-for person, brand or entity.” If that does not describe you or your brand, you should be suspicious of anyone who offers you an easy path to getting a blue check mark.

    Here are three common Instagram verification scams you should be careful to avoid.

    Related: Is That Instagram Email a Phishing Attack? Now You Can Find Out.

    1. Don’t trust an invitation to apply

    If you are a well-known person or represent a well-known brand, you can apply on your own to be considered for verification. Once you apply, you should expect a response within 30 days. What you should not expect is that Instagram will reach out to you to let you know that you are eligible for verification if you have not applied for that status.

    A recent Instagram verification scam lured people in through email messages saying they were eligible for the blue check mark. The next step, according to the email, was to supply the email address associated with the account and the password.

    This scam utilizes a strategy commonly known as phishing, in which bad actors hope to entice someone to provide them with private information by offering them something of value. The information phished for can include usernames, passwords, bank account numbers, social security numbers and more. Once the information is obtained, the account can be hacked to obtain more information, use it for illegitimate purposes, and even lock the genuine account owner out in some cases.

    This Instagram phishing scam walked its victims through a series of forms that gathered information, all with the promise that it would result in obtaining the blue check mark. The fact that the forms were hosted on “instagramforbusiness.info,” rather than the company’s “instagram.com” site, was a telltale sign that it was not a legitimate process.

    Related: Why Having a Personal Brand Is Crucial to Making Money Online (and How to Build Yours)

    2. Don’t trust a message saying that you have been pre-approved

    Another phishing scam goes a step further by informing the target that they have already been approved and only need to click on a link to claim their check mark. Instagram will not approve you for verification on its own initiative. Even if you have applied for verification, this type of message should still be viewed as suspicious.

    Instagram says on its website that it will inform applicants that they have been approved for verification through a notification that will appear in the Activity tab in the Instagram app. It expressly states that it will never “reach out to ask you to confirm your verification.”

    When an email message seems suspicious, reviewing the originating address is one way to quickly reveal . An example of an Instagram verification scam uncovered in early 2022 involved targets receiving messages from “info@business-objectionchannel.com” that promised verification. Some sleuthing revealed that the domain name “business-objectionchannel.com” had been recently registered.

    Related: Instagram’s Verification Self-Submission Form Update Allows for a More Complete Verification Request

    3. Don’t trust a promise to deliver verification for a fee

    Because Instagram’s verification is not something that can be purchased, any offer to provide verification in exchange for a fee, regardless of the dollar amount, will almost certainly be a scam. This is especially true when the offer requires only a fee and no other information.

    An Instagram verification scam uncovered in South Florida in 2021 not only promised verification for as little as $50 but also provided victims with screenshots that showed message exchanges between the scammers and local celebrities who used the service. The messages were later discovered to be fabricated. Those who paid for the service did not get what they were promised.

    However, there are legitimate businesses, such as public relations firms, that can help get their clients verified on Instagram and other social media platforms for a fee. The distinction with those businesses is that they first help their clients to become notable through media appearances, thus making them eligible for verification.

    Overall, it is important to remember that verification — on Instagram and other social media platforms — serves the purpose of authenticating notable accounts. In other words, it is the way Instagram helps its users to connect with the true Ryan Reynolds. As such, it is not something that is easy to obtain.

    For entrepreneurs, thought leaders and influencers, achieving a blue checkmark is often seen as something that can boost their credibility, even if they have not yet achieved the “notable” status that justifies verification. If that is where you are, be careful. Your desire to become verified could result in you falling victim to a scam.

    [ad_2]

    Jay Feldman, DO

    Source link

  • Kanye West to acquire conservative social media platform Parler | CNN Business

    Kanye West to acquire conservative social media platform Parler | CNN Business

    [ad_1]



    CNN Business
     — 

    Kanye West is acquiring Parler, the alternative social media platform favored by many conservatives.

    Parler’s parent company announced the deal on Monday morning, saying West had made “a groundbreaking move into the free speech media space and will never have to fear being removed from social media again.”

    The acquisition comes after West, who has legally changed his name to Ye, had his account temporarily locked by Twitter this month over an antisemitic tweet.

    Exact terms of the Parler deal weren’t disclosed, though Parler said it must still enter into a definitive agreement with West and expects to close in the fourth quarter. Parler’s parent, Parlement Technologies, would remain involved by providing technical services and cloud support.

    Buying Parler could make West the latest celebrity owner of a social media platform after former President Donald Trump’s bid to win over conservatives with Truth Social and Tesla CEO Elon Musk’s proposed acquisition of Twitter. It also highlights how a small group of wealthy men, some of whom were banned or suspended themselves for incendiary remarks, are looking to own social media platforms in an effort to bolster what they call “free speech.”

    “In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves,” West said in a release by Parler.

    As part of the announcement, Parler linked to West’s account on the platform, which appeared to have launched simultaneously. As of early Monday, the account had roughly 500 followers.

    For Ye, the deal comes during a particularly controversial period. West has made headlines in recent weeks for wearing a “White Lives Matter” T-shirt in public and defending his use of the slogan — a phrase the Anti-Defamation League has linked to white supremacy groups — as “funny” to Fox News host Tucker Carlson. After the shirt incident, the apparel company Adidas this month said it was reviewing its partnership with West. In September, West also said he was abandoning a two-year partnership with the clothing retailer Gap.

    Speaking on CNN Monday, Jonathan Greenblatt, the ADL’s CEO, called Parler a “haven” of hate.

    Parler was founded in 2018 and saw rapid growth surrounding the 2020 election. Billing itself as a loosely moderated free-speech haven, the app became popular with conservative politicians and media figures, peaking at an estimated 2.9 million daily users, according to the market research firm Apptopia. But since then, its fortunes have dimmed, with Parler’s estimated daily user count slipping to just 40,000, Apptopia told CNN on Monday. (Twitter, by comparison, has more than 237 million daily active users.)

    In the weeks following the Jan. 6 riots, Parler was removed from both the Apple App Store and Google Play Store for what the companies said was a failure to adequately moderate violent rhetoric on the platform. Documents provided to the House committee investigating the Capitol riots have shown how the Secret Service was aware of posts on Parler that suggested the possibility of violence surrounding that day. Separately, Parler has written to Congress claiming that lawmakers’ interest in the app’s role in the riots has been intended to “scapegoat” the app.

    Parler has since been restored to both app stores after making changes to its content moderation practices.

    Parler has faced more competition in recent months as the burgeoning right-wing digital media ecosystem has expanded. Truth Social launched in February on Apple’s app store, and was approved for Google’s app store on Oct. 13. Truth Social saw a spike of downloads last week due to its appearance on the Google Play Store, Apptopia said, and before then had been hovering at 144,000 daily active users.

    Musk’s move to buy Twitter, if the deal goes through, also has the potential to upend Parler and similar services. Musk has repeatedly called for eliminating permanent bans and rethinking Twitter’s approach to content moderation, which could once again make the much larger platform a home for some of the users who jumped to small services like Parler.

    It could also effectively mean that Musk and Ye, who are said to be friends, are now competing with each other. After Ye’s antisemitic tweet sparked an outcry, Musk tweeted: “Talked to ye today & expressed my concerns about his recent tweet, which I think he took to heart.”

    One week later, Ye’s deal to buy Parler was announced.

    [ad_2]

    Source link

  • Kanye West to buy conservative social media platform Parler

    Kanye West to buy conservative social media platform Parler

    [ad_1]

    The rapper formerly known as Kanye West is offering to buy right-wing friendly social network Parler shortly after being booted off Twitter and Instagram for antisemitic posts.

    Parlement Technologies, which owns the platform, and West, legally known as Ye, said the acquisition should be completed in the fourth quarter, but details like price were not revealed. Parlement Technologies said the agreement includes the use of private cloud services via Parlement’s private cloud and data center infrastructure.

    Ye, was locked out of Twitter and Instagram a week ago over antisemitic posts that the social networks said violated their policies. In one post on Twitter, Ye said he would soon go “death con 3 on JEWISH PEOPLE,” according to internet archive records, making an apparent reference to the U.S. defense readiness condition scale known as DEFCON.

    Ye is no stranger to controversy, once suggesting slavery was a choice and calling the COVID-19 vaccine “the mark of the beast.” Earlier this month, he was criticized for wearing a “White Lives Matter” T-shirt to his collection at Paris Fashion Week.

    The potential purchase of Parler would give Ye control of a social media platform and a new outlet for his opinions with no gatekeeper.

    “In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves,” Ye said in a prepared statement.

    The acquisition could also breathe new life into Parler, which has struggled amid competition from other conservative-friendly platforms like Truth Social. Parler, which launched in August 2018, didn’t start picking up steam until 2020. But it was kicked offline following the Jan. 6, 2021 attack on the U.S. Capitol. A month after the attack, Parler announced a relaunch. It returned to Google Play last month.

    “This deal will change the world, and change the way the world thinks about free speech,” Parlement Technologies CEO George Farmer said in a prepared statement.

    [ad_2]

    Source link

  • Russia strikes central Kyiv with ‘kamikaze drones’

    Russia strikes central Kyiv with ‘kamikaze drones’

    [ad_1]

    Several explosions were reported around Kyiv on Monday morning, a week after Russia last attacked the Ukrainian capital.

    Andriy Yermak, Ukrainian President Volodymyr Zelenskyy’s chief of staff, said on Telegram that the city was attacked by kamikaze drones. Multiple people in Kyiv said on social media that they heard noises that are characteristic of the unmanned devices before the explosions.

    In a Telegram post, Zelenskyy said: “The enemy can attack our cities, but it won’t be able to break us. The occupiers will get only fair punishment and condemnation of future generations. And we will get victory.”

    Kyiv Mayor Vitali Klitschko said buildings in the central Shevchenkivskyi district had been set alight by the explosions. He posted a picture on Telegram of what he said was the wreckage of a drone, which looks like one of the Iranian-made Shaheds reportedly acquired by Russia. EU foreign ministers are on Monday set to discuss potential sanctions against Iran over the transfer of drones to Russia.

    Russia also appears to have targeted “critical infrastructure facilities” in Romny, near the northeastern city of Sumy, according to Dmytro Zhyvytskyi, the regional governor. “There are victims,” he said on Telegram.

    Russia previously hit Kyiv and other Ukrainian cities last week with strikes, in what were seen as revenge attacks after Ukraine’s successful counteroffensive and a fiery blast on the Kerch Bridge linking Russian-occupied Crimea with mainland Russia.

    [ad_2]

    Jules Darmanin

    Source link

  • Ukraine: Explosions rock Kyiv a week after Russian strikes

    Ukraine: Explosions rock Kyiv a week after Russian strikes

    [ad_1]

    KYIV, Ukraine — Several loud explosions rocked the center of the Ukrainian capital Monday, a week after Russia orchestrated a massive, coordinated air strike across the country.

    Kyiv city mayor Vitaliy Klichko said the central Shevchenko district of the capital had been hit, and urged residents to take shelter. No further details were immediately known.

    The explosions came from the same central Kyiv district where a week ago a missile struck a children’s playground and intersection near the Kyiv National University’s main buildings.

    Social media posts showed a fire in the area of the apparently strike, with black smoke rising into the early morning light.

    Russian forces struck Kyiv with Iranian Shahed drones, wrote Andrii Yermak, the head of the Ukrainian president’s office, in a post on the Telegram social media site. Russia has repeatedly been using the so-called suicide drones in recent weeks to target urban centers and infrastructure, including power stations.

    The strike on Kyiv comes as fighting has intensified in the eastern regions of Donetsk and Luhansk in recent days, as well as the continued Ukrainian counteroffensive in the south near Kherson and Zaporizhzhia. President Volodymyr Zelenskyy said last night in his evening address that there was heavy fighting around the cities of Bakhmut and Soledar in the Donetsk region. The Donetsk and Luhansk regions make up the bulk of the industrial east known as the Donbas, and were two of four regions annexed by Russia in September in defiance of international law.

    On Sunday, the Russian-backed regime in the Donetsk region said Ukraine had shelled its central administrative building in a direct hit. No casualties were reported.

    [ad_2]

    Source link

  • Musk has a ‘super app’ plan for Twitter. It’s super vague

    Musk has a ‘super app’ plan for Twitter. It’s super vague

    [ad_1]

    Elon Musk has a penchant for the letter “X.” He calls his son with the singer Grimes, whose actual name is a collection of letters and symbols, “X.” He named the company he created to buy Twitter “X Holdings.” His rocket company is, naturally, SpaceX.

    Now he also apparently intends to morph Twitter into an “everything app” he calls X.

    For months, the Tesla and SpaceX CEO has expressed interest in creating his own version of China’s WeChat — a “super app” that does video chats, messaging, streaming and payments — for the rest of the world. At least, that is, once he’s done buying Twitter after months of legal infighting over the $44 billion purchase agreement he signed in April.

    There are just a few obstacles. First is that a Musk-owned Twitter wouldn’t be the only global company in pursuit of this goal, and in fact would probably be playing catch-up with its rivals. Next is the question of whether anyone really wants a Twitter-based everything app— or any other super app — to begin with.

    Start with the competition and consumer demand. Facebook parent Meta has spent years trying to make its flagship platform a destination for everything online, adding payments, games, shopping and even dating features to its social network. So far, it’s had little success; nearly all of its revenue still comes from advertising.

    Google, Snap, TikTok, Uber and others have also tried to jump on the super app bandwagon, expanding their offerings in an effort to become indispensable to people as they go about their day. None have set the world on fire so far, not least because people already have a number of apps at their disposal to handle shopping, communicating and payments.

    “Old habits are hard to break, and people in the U.S. are used to using different apps for different activities,” said Jasmine Enberg, principal analyst at Insider Intelligence. Enberg also notes that super apps would likely suck up more personal data at a time when trust in social platforms has deteriorated significantly.

    Musk kicked off the latest round of speculation on Oct. 4, the day he reversed his attempts to get out of the deal and announced that he wanted to acquire Twitter after all. “Buying Twitter is an accelerant to creating X, the everything app,” he tweeted without further explanation.

    But he’s provided at least a little more detail in the past. During Tesla’s annual shareholder meeting in August, Musk told the crowd at a factory near Austin, Texas, that he thinks he’s “got a good sense of where to point the engineering team with Twitter to make it radically better.”

    And he’s dropped some strong hints that handling payments for goods and services would be a key part of the app. Musk said he has a “grander vision” for what X.com, an online bank he started early in his career that eventually became part of PayPal, could have been.

    “Obviously that could be started from scratch, but I think Twitter would help accelerate that by three to five years,” Musk said in August. “So it’s kind of something that I thought would be quite useful for a long time. I know what to do.”

    But it’s not clear that WeChat’s success in China means the same idea would translate for a U.S. or global audience. WeChat usage is almost universal in China, where most people never had a computer at home and skipped straight to going online by mobile phone.

    Operated by tech giant Tencent Holding Ltd., the platform has made itself a one-stop shop for payments and other services and is starting to compete in entertainment. It is also a platform for health code apps the public is required to use prevent the spread of the coronavirus.

    China has 1 billion internet users, and nearly all of them go online by mobile phone, according to the government-sanctioned China Internet Network Information Center. Only 33% use desktop computers at all — and mostly in addition to mobile phones. Tencent says WeChat had 1.3 billion users worldwide as of the end of June.

    Tencent and its main Chinese competitor, e-commerce giant Alibaba Group, aim to make apps that offer so many services that users can’t easily switch to another app. They’re not the only ones.

    WeChat has added video calls and other message features as well as shopping, entertainment and other features. Government agencies use it to send out health, traffic and other announcements. WeChat’s payment function, meanwhile, is so widely used that coffee shops, museums and some other businesses refuse cash and will take payment only through WeChat or the rival Ant app.

    There is no comparable app in the U.S., despite tech companies’ efforts.

    It’s worth remembering that Musk’s grand visions don’t always work out the way he appears to expect. Humans are nowhere near colonizing Mars and his promised fleet of robotaxis remains about as far from reality as the metaverse.

    Twitter’s user base is also tiny relative to those at its social-platform competitors. While Facebook, Instagram and TikTok all passed the 1 billion mark long ago, Twitter has about 240 million daily users.

    “Musk would not only have to overcome the hurdle of convincing consumers to change how they behave online, but also that Twitter is the place to do it,” Enberg said.

    ——

    Associated Press Writer Joe McDonald contributed to this story.

    [ad_2]

    Source link

  • Musk has a ‘super app’ plan for Twitter. It’s super vague

    Musk has a ‘super app’ plan for Twitter. It’s super vague

    [ad_1]

    Elon Musk has a penchant for the letter “X.” He calls his son with the singer Grimes, whose actual name is a collection of letters and symbols, “X.” He named the company he created to buy Twitter “X Holdings.” His rocket company is, naturally, SpaceX.

    Now he also apparently intends to morph Twitter into an “everything app” he calls X.

    For months, the Tesla and SpaceX CEO has expressed interest in creating his own version of China’s WeChat — a “super app” that does video chats, messaging, streaming and payments — for the rest of the world. At least, that is, once he’s done buying Twitter after months of legal infighting over the $44 billion purchase agreement he signed in April.

    There are just a few obstacles. First is that a Musk-owned Twitter wouldn’t be the only global company in pursuit of this goal, and in fact would probably be playing catch-up with its rivals. Next is the question of whether anyone really wants a Twitter-based everything app— or any other super app — to begin with.

    Start with the competition and consumer demand. Facebook parent Meta has spent years trying to make its flagship platform a destination for everything online, adding payments, games, shopping and even dating features to its social network. So far, it’s had little success; nearly all of its revenue still comes from advertising.

    Google, Snap, TikTok, Uber and others have also tried to jump on the super app bandwagon, expanding their offerings in an effort to become indispensable to people as they go about their day. None have set the world on fire so far, not least because people already have a number of apps at their disposal to handle shopping, communicating and payments.

    “Old habits are hard to break, and people in the U.S. are used to using different apps for different activities,” said Jasmine Enberg, principal analyst at Insider Intelligence. Enberg also notes that super apps would likely suck up more personal data at a time when trust in social platforms has deteriorated significantly.

    Musk kicked off the latest round of speculation on Oct. 4, the day he reversed his attempts to get out of the deal and announced that he wanted to acquire Twitter after all. “Buying Twitter is an accelerant to creating X, the everything app,” he tweeted without further explanation.

    But he’s provided at least a little more detail in the past. During Tesla’s annual shareholder meeting in August, Musk told the crowd at a factory near Austin, Texas, that he thinks he’s “got a good sense of where to point the engineering team with Twitter to make it radically better.”

    And he’s dropped some strong hints that handling payments for goods and services would be a key part of the app. Musk said he has a “grander vision” for what X.com, an online bank he started early in his career that eventually became part of PayPal, could have been.

    “Obviously that could be started from scratch, but I think Twitter would help accelerate that by three to five years,” Musk said in August. “So it’s kind of something that I thought would be quite useful for a long time. I know what to do.”

    But it’s not clear that WeChat’s success in China means the same idea would translate for a U.S. or global audience. WeChat usage is almost universal in China, where most people never had a computer at home and skipped straight to going online by mobile phone.

    Operated by tech giant Tencent Holding Ltd., the platform has made itself a one-stop shop for payments and other services and is starting to compete in entertainment. It is also a platform for health code apps the public is required to use prevent the spread of the coronavirus.

    China has 1 billion internet users, and nearly all of them go online by mobile phone, according to the government-sanctioned China Internet Network Information Center. Only 33% use desktop computers at all — and mostly in addition to mobile phones. Tencent says WeChat had 1.3 billion users worldwide as of the end of June.

    Tencent and its main Chinese competitor, e-commerce giant Alibaba Group, aim to make apps that offer so many services that users can’t easily switch to another app. They’re not the only ones.

    WeChat has added video calls and other message features as well as shopping, entertainment and other features. Government agencies use it to send out health, traffic and other announcements. WeChat’s payment function, meanwhile, is so widely used that coffee shops, museums and some other businesses refuse cash and will take payment only through WeChat or the rival Ant app.

    There is no comparable app in the U.S., despite tech companies’ efforts.

    It’s worth remembering that Musk’s grand visions don’t always work out the way he appears to expect. Humans are nowhere near colonizing Mars and his promised fleet of robotaxis remains about as far from reality as the metaverse.

    Twitter’s user base is also tiny relative to those at its social-platform competitors. While Facebook, Instagram and TikTok all passed the 1 billion mark long ago, Twitter has about 240 million daily users.

    “Musk would not only have to overcome the hurdle of convincing consumers to change how they behave online, but also that Twitter is the place to do it,” Enberg said.

    ——

    Associated Press Writer Joe McDonald contributed to this story.

    [ad_2]

    Source link

  • How online anonymity changes behavior, for the worse

    How online anonymity changes behavior, for the worse

    [ad_1]

    How online anonymity changes behavior, for the worse – CBS News


    Watch CBS News



    The internet has made it easy, and depressingly common, to be nasty without fear of repercussions – a lack of restraint that psychologists call online disinhibition effect, or ODE. Correspondent David Pogue talks with experts who discuss why exchanges on social media can devolve into hateful, spiteful rages and name-calling that would never be acceptable when talking face-to-face.

    Be the first to know

    Get browser notifications for breaking news, live events, and exclusive reporting.


    [ad_2]

    Source link

  • Iran’s celebrities face reprisals for supporting protests

    Iran’s celebrities face reprisals for supporting protests

    [ad_1]

    BAGHDAD — Singers, actors, sports stars — the list goes on. Iranian celebrities have been startlingly public in their support for the massive anti-government protests shaking their country. And the ruling establishment is lashing back.

    Celebrities have found themselves targeted for arrest, have had passports confiscated and faced other harassment.

    Among the most notable cases is that of singer Shervin Hajipour, whose song “For …” has become an anthem for the protest movement, which erupted Sept. 17 over the death of 22-year-old Mahsa Amini in police custody after she was arrested for not abiding by the Islamic Republic’s strict dress code.

    The song begins with a soft melody, then Hajipour’s resonant voice starts, “For dancing in the streets,” “for the fear we feel when we kiss …” — listing reasons young Iranians have posted on Twitter for why they are taking to the streets against the ruling theocracy.

    It ends with the widely chanted slogan that has become synonymous with the protests: “For women, life, freedom.”

    Released on his Instagram page, the song quickly went viral. Hajipour paid the price: The 25-year-old was arrested and held for several days before being released on bail on Oct. 4.

    Since the protests took off — and expanded from anger at Amini’s death to a complete challenge to the 43-year-old rule by conservative Islamic clerics — a string of celebrities have faced reprisals, from singers and soccer players to news anchors.

    At least seven public figures have been detained inside the country, most of whom were released on bail and could face charges, according to Iranian news outlets. Others were questioned and released.

    But their popularity has also made it difficult to crack down too hard on them — in contrast to protest activists whom security forces have arrested in large numbers. Iran has a vibrant scene of singers and actors, as well as sports stars, who are closely followed by the public.

    Holly Dagres, an Iranian-American non-resident fellow at the Atlantic Council, said the attempts to intimidate public figures were no surprise.

    “Celebrities — be it athletes, actors, singers or artists — have a large following inside Iran, particularly on social media, and their support gives life to these protests,” she said.

    Their support has helped invigorate protesters struggling with widespread internet outages that limit their ability to have their voices heard and facing a brutal government crackdown. There have been widespread arrests, dozens have died and many more wounded. Still, protests have spread to dozens of cities, drawing broad segments of Iranian society, from schoolgirls to oil workers.

    One of Iran’s most beloved singers of classical Persian music, Homayoun Shajarian, projected a large photo of Amini behind him on stage as he sang a traditional song, “Dawn Bird,” during a tour in Australia in September.

    The audience joined him in singing one of the song’s most iconic lines: “The tyrant’s oppression like a hunter has blown away my nest. God, Sky, Nature, bring dawn to our dark night.”

    When Shajarian returned to Iran, his passport and that of actress Sahar Dolatshahi, who was traveling with him, were seized at the airport. He later said on his Instagram account that they had been barred from travel.

    Similarly, a soccer legend in Iran, Ali Daei, had his passport confiscated at the airport when he returned from abroad. He had urged the government on social media to “solve the problems of the Iranian people rather than using repression, violence and arrests.”

    A few days later, the passport was returned to him, he told the press.

    Two well known former soccer players, Hossein Mahini and Hamidreza Aliasgari, were arrested and released on bail. Mona Borzoui, a female songwriter and Mahmoud Shahriari, a former state TV showman, have also been arrested and face charges.

    Iranian leaders blame foreign governments for fanning the protests. Iranian Deputy Interior Minister Majid Mirahmadi said celebrities in particular have had a “steering role” in the unrest.

    Mirahmadi said celebrities who have backed the protests will be allowed to atone for their “mistaken actions.”

    He denied any athletes had been arrested but said some had received “guidance.” He said Mahini, for example, had been released and given “the chance to make good on his mistakes,” according to the Mehr News Agency.

    Public figures have not been deterred.

    Amirhossein Esfandiar, a national volleyball player, reposted a video of violent confrontations between security forces and protesters, writing, “You have no sense of humanity, why do you beat and kill innocent people?”

    Qasim Haddadifar, a veteran sportsman and former soccer captain, published photos of girls protesting and wrote he was proud of them in an Instagram story.

    Some players on the soccer team Persepolis F.C. reportedly wore black armbands during a Wednesday match in solidarity with the protest movement and were later summoned by security, reported British-based Iran International.

    Actress Hediye Tehrani said Iranian security had warned her about her posts to her nearly 1 million Instagram followers. Still, she continues to share images in support of the protests. “Millions of girls are now Mahsa Amini,” she wrote in a recent post.

    Celebrities outside of Iran have also raised their voices, from Dua Lipa and Shakira to the fashion house Balenciaga. On Instagram, Angelina Jolie posted a photo of a protester holding up an image of Amini and wrote, “To the women of Iran, we see you.”

    The ruling establishment clearly sees danger in celebrities’ wide reach. Ali Saaedi Shahroudi, a former representative of the Supreme Leader of Revolutionary Guards, called for an organization to oversee the behavior of musicians, actors and sports stars, similar to institutions regulating professional groups.

    But the damage may have already been done.

    Although Hajipour was forced to remove his song from Instagram, it continues to reverberate, sung by everyone from Iranian school girls to protesters in European capitals.

    A campaign is under way to nominate the song for a Grammy, in the best song for social change category.

    “While using #MahsaAmini might seem like keyboard activism, Iranians see the world’s attention is on them and they appreciate it,” said Dagres. “The solidarity invigorates protesters to keep braving batons and bullets to make a change in their country. It gives them hope.”

    [ad_2]

    Source link

  • Truth Social Exec Forced Off Board After Ignoring Trump Demand To Gift Stock To Melania: Report

    Truth Social Exec Forced Off Board After Ignoring Trump Demand To Gift Stock To Melania: Report

    [ad_1]

    A co-founder of Truth Social’s media parent company was forced off the board of the firm after he ignored demands by Donald Trump to gift some of his stock to Melania Trump, a whistleblower has told The Washington Post.

    Trump pushed for the giveaway to his wife even though he had already been given 90% of the stock in the Trump Media & Technology Group (TMTG) in exchange for the use of his name and some other “minor involvement,” former company executive Will Wilkerson told the Post.

    The company co-founder reportedly dodged the request, telling Trump that it would leave him with a tax bill he couldn’t pay. “Do whatever you need to do,” Trump snapped back, according to Wilkerson.

    He was forced off the board five months later in what Wilkerson believes was payback for failing to turn over a “small fortune” to Melania Trump, the newspaper reported Saturday.

    The incident was one of a series of bombshell revelations supported by several documents viewed by the newspaper about bitter infighting in the Trump business, technical screwups, questionable financial representations, and what Wilkerson insisted were violations of Securities and Exchange regulations, according to the Post.

    Wilkerson submitted a whistleblower complaint to the Securities and Exchange Commission in August regarding the company. Wilkerson’s attorney’s told the newspaper that he is also cooperating with current investigations into Trump Media by the SEC and by federal prosecutors from the Southern District of New York.

    Wilkerson was fired from his job Thursday as TMTG senior vice president of operations after he spoke to The Post.

    Trump Media said in a statement responding to several specific questions from the Post regarding Wilkerson’s information that Trump as company chairman had hired former California Republican congressman Devin Nunes as CEO to “create a culture of compliance and build a world-class team to lead Truth Social.”

    The statement complained that the Post “sent us an inquiry rife with knowingly false and defamatory statements and other concocted psychodramas.”

    It did not specifically address any of the Post’s questions, according to the newspaper.

    The new information follows a lengthening list of bad news for Trump’s Truth Social and media venture.

    Digital World Acquisition Corp. — the special purpose acquisition company (SPAC) that Truth Social needs to go public — revealed in a Securities and Exchange Commission filing last month that investors had already backed out of $139 million in commitments of the $1 billion previously announced by the company.

    There’s likely more to come. Investors, who agreed to put up the money nearly a year ago, can now drop their commitments because Digital World missed its initial Sept. 20 deadline to merge with Trump Media. That deadline was extended by three months after shareholders refused to approve its bid for a 12-month extension. But investors can still pull out.

    A major web-hosting operator complained in August that Truth Social owed about $1.6 million in contractually obligated payments, an allegation suggesting the operation’s finances are in “significant disarray,” Fox Business News reported.

    Trump insisted last month that he was unconcerned about any Truth Social money woes because, he explained, “I’m really rich,” he posted on the social media platform. “I don’t need financing.”

    Yet in the next sentence he asked: “Private company, anyone???” in what appeared to be an invitation to investors.

    [ad_2]

    Source link

  • Elon Musk reverses course, says SpaceX will keep funding Ukraine Starlink service for free | CNN Business

    Elon Musk reverses course, says SpaceX will keep funding Ukraine Starlink service for free | CNN Business

    [ad_1]

    Sign up for CNN’s Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more.



    CNN
     — 

    US billionaire Elon Musk tweeted on Saturday that SpaceX will continue funding Starlink internet service in war-torn Ukraine, apparently reversing course after SpaceX asked the United States military to pick up the tab.

    SpaceX’s Starlink satellite internet services have been a vital source of communication for the country’s military during the war with Russia, but as CNN exclusively reported earlier this week, SpaceX warned the Pentagon that it may stop funding the service in Ukraine unless the US military kicks in tens of millions of dollars per month, according to documents obtained by CNN.

    The letter also requested that the Pentagon take over funding for Ukraine’s government and military use of Starlink, which SpaceX claims would cost more than $120 million for the rest of the year and could cost close to $400 million for the next 12 months. The report elicited a torrent of tweets from social media users both defending and criticizing the move.

    A tweet from Musk’s verified account posted Saturday said, “The hell with it … even though Starlink is still losing money & other companies are getting billions of taxpayer $, we’ll just keep funding Ukraine govt for free.”

    Since they first started arriving in Ukraine last spring, the Starlink satellite internet terminals made by Musk’s SpaceX have allowed Ukraine’s military to fight and stay connected even as cellular phone and internet networks have been destroyed in its war with Russia.

    A Pentagon spokesperson said Friday that it had been in communication with SpaceX but did not say whether it was over the funding of the Starlink satellite communication product.

    In response Saturday to a follower who replied to Musk’s tweet, “No good deed goes unpunished,” Musk said, “Even so, we should still do good deeds.”

    Musk on Friday had doubled down on SpaceX’s request to the Pentagon in a series of tweets.

    “SpaceX is not asking to recoup past expenses, but also cannot fund the existing system indefinitely *and* send several thousand more terminals that have data usage up to 100X greater than typical households. This is unreasonable,” read one post from Musk’s verified account.

    He also said that in asking the Pentagon to pick up the bill for Starlink in Ukraine, he was following the advice of a Ukrainian diplomat who responded to Musk’s Ukraine peace plan earlier this month, before the letter was sent to the Pentagon, with: “F*** off.”

    Ukraine’s ambassador to Germany, Andrij Melnyk, responded earlier this month to Musk’s claimed peace plan for Russia’s Ukraine war by saying: “F*** off is my very diplomatic reply to you @elonmusk.”

    SpaceX’s suggestion that it would stop funding Starlink also came amid rising concern in Ukraine over Musk’s allegiance. Musk recently tweeted a controversial peace plan that would have Ukraine give up Crimea and control over the eastern Luhansk and Donetsk regions.

    After Ukrainian President Volodymyr Zelensky raised the question of who Musk sides with, he responded that he “still very much support[s] Ukraine” but fears “massive escalation.”

    One Ukrainian official, Mykhailo Podolyak, an adviser to Zelensky, appeared to extend an olive branch in a tweet posted Friday, writing, “Let’s be honest. Like it or not, @elonmusk helped us survive the most critical moments of war.”

    “Business has the right to its own strategies,” Podolyak’s tweet read. “(We) will find a solution to keep #Starlink working. We expect that the company will provide stable connection till the end of negotiations.”

    [ad_2]

    Source link

  • Iranian security official confirms fire at Evin prison, says situation is under control after social media footage emerges | CNN

    Iranian security official confirms fire at Evin prison, says situation is under control after social media footage emerges | CNN

    [ad_1]



    CNN
     — 

    A large, dark plume of smoke was seen billowing near Evin prison in northern Tehran in multiple videos on social media Saturday night.

    An Iranian security official said “thugs” set fire to the warehouse of prison clothing, which led to a fire in the prison, Iranian state media IRNA reported. Tehran’s Evin Prison is a notoriously brutal facility where the regime incarcerates political dissidents.

    “Now the situation is completely under control and peace is maintained in the prison, and the firemen are extinguishing the fire,” the security official told IRNA.

    Activist group 1500tasvir reported that in videos posted on social media, gunshots were heard and Iranian special forces were seen heading to the area where the prison is believed to be located.

    The Iranian official said that the “rioters” were separated from other prisoners and the other detainees have returned to their cells, IRNA reported.

    CNN cannot independently verify the situation.

    Girls and woman have led the nationwide protest movement that has gripped Iran following the death of a young woman in police custody.

    In September, 22-year-old Mahsa Amini died after she was detained by the country’s morality police for allegedly not wearing her hijab properly. Iranian authorities have since unleashed a brutal crackdown on demonstrators, who have united around a range of grievances with the country’s authoritarian regime.

    Witnesses previously said that Iranian security forces beat, shot and detained students at Tehran’s Sharif University. Last month, nearly two dozen children were killed during the protests, according to a report by Amnesty International.

    At least 23 children – some as young as 11 – were killed by security forces in the last 10 days of September alone, the report said.

    Earlier this week, an Iranian official also admitted that school students participating in street protests are being detained and taken to psychiatric institutions.

    [ad_2]

    Source link

  • ‘The hell with it’: Elon Musk tweets SpaceX will ‘keep funding Ukraine govt for free’ amid Starlink controversy

    ‘The hell with it’: Elon Musk tweets SpaceX will ‘keep funding Ukraine govt for free’ amid Starlink controversy

    [ad_1]

    A smartphone with the Starlink logo displayed on the screen.

    Sopa Images | Lightrocket | Getty Images

    Elon Musk said in a tweet Saturday that his company SpaceX would continue to fund Starlink satellite internet terminals for the Ukrainian government as it battles invading Russian forces.

    “The hell with it,” the billionaire tweeted, “even though Starlink is still losing money & other companies are getting billions of taxpayer $, we’ll just keep funding Ukraine govt for free.”

    It was not immediately clear whether Musk, who is also the CEO of Tesla, was being sarcastic. In response to a tweet about the move, Musk said, “we should still do good deeds.” Responding to another tweet saying that Musk had already paid taxes that are funding Ukraine’s defense, he said, “Fate loves irony.”

    The tweets follow a statement from Musk on Friday in which he said that SpaceX cannot continue fund Starlink terminals in Ukraine “indefinitely,” after a report suggested his space company had asked the Pentagon to cover the costs.

    Musk did not immediately respond to requests for comment.

    In a letter from SpaceX to the Pentagon, the company said that the use of Starlink in Ukraine could cost close to $400 million over the next 12 months, according to a report by CNN. SpaceX has signed several contracts with the U.S. government.

    SpaceX’s donated Starlink internet terminals have been crucial in keeping Ukraine’s military online during the war against Russia, even as communication infrastructure gets destroyed. Russia began its invasion of Ukraine in February.

    Musk drew criticism from Ukrainian officials earlier this month when he posted a Twitter poll gauging support for what he claimed was a likely outcome of the Russia-Ukraine war.

    He appeared to confirm that SpaceX was planning to leave Ukraine in some capacity Friday, replying to a Twitter post that referenced the Ukrainian ambassador telling Musk to “f— off.”

    “We’re just following his recommendation,” Musk said.

    The SpaceX founder is also in the middle of a $44 billion bid to buy Twitter, which he had tried to get out of. A judge ruled that he has until Oct. 28 to close the acquisition if he hopes to avoid a trial.

    [ad_2]

    Source link

  • Meta documents show main metaverse is losing users and falling short of goals, report says

    Meta documents show main metaverse is losing users and falling short of goals, report says

    [ad_1]

    Horizon Worlds, Meta‘s flagship metaverse for consumers, is failing to meet internal performance expectations, according to The Wall Street Journal, which reviewed internal company documents.

    Meta initially aimed to reach 500,000 monthly active users in Horizon Worlds by the end of the year, but the current figure is less than 200,000, according to the report. Additionally, the documents showed that most users didn’t return to Horizon after the first month on the platform, and the number of users has steadily declined since spring, the Journal said.

    Only 9% of worlds are visited by at least 50 people, and most are never visited at all, according to the report.

    The report comes as the company’s stock falls, user numbers decline and advertisers cut spending. Meta shares are down 62% so far this year.

    Meta rebranded from Facebook last year in order to reflect the company’s ambitions beyond social media. CEO Mark Zuckerberg has specifically been interested in building out the metaverse, which is a virtual world that allows users to work and play together.

    As a result, Meta created Horizon Worlds, which is a network of virtual spaces where users can engage with one another as avatars. Individuals can access Horizon through Meta’s Quest virtual-reality headsets.

    In an effort to drum up some excitement around the metaverse, Zuckerberg unveiled his company’s newest virtual reality headset, dubbed the Meta Quest Pro, at Meta’s Connect conference Tuesday. The device costs $1,500 and contains new technologies, such as an advanced mobile Snapdragon computer chip.

    A Meta spokesman told The Wall Street Journal that the company continues to make improvements to the metaverse, which was always meant to be a multiyear project. Representatives for Meta didn’t immediately respond to CNBC’s request for comment.

    Meta has said it will release a web version of Horizon for mobile devices and computers this year, but the spokesman didn’t have any launch dates to disclose.

    Read the full Journal report here.

    [ad_2]

    Source link

  • Musk has a ‘super app’ plan for Twitter. It’s super vague

    Musk has a ‘super app’ plan for Twitter. It’s super vague

    [ad_1]

    Elon Musk has a penchant for the letter “X.” He calls his son with the singer Grimes, whose actual name is a collection of letters and symbols, “X.” He named the company he created to buy Twitter “X Holdings.” His rocket company is, naturally, SpaceX.

    Now he also apparently intends to morph Twitter into an “everything app” he calls X.

    For months, the Tesla and SpaceX CEO has expressed interest in creating his own version of China’s WeChat — a “super app” that does video chats, messaging, streaming and payments — for the rest of the world.. At least, that is, once he’s done buying Twitter after months of legal infighting over the $44 billion purchase agreement he signed in April.

    There are just a few obstacles. First is that a Musk-owned Twitter wouldn’t be the only global company in pursuit of this goal, and in fact would probably be playing catch-up with its rivals. Next is the question of whether anyone really wants a Twitter-based everything app— or any other super app — to begin with.

    Start with the competition and consumer demand. Facebook parent Meta has spent years trying to make its flagship platform a destination for everything online, adding payments, games, shopping and even dating features to its social network. So far, it’s had little success; nearly all of its revenue still comes from advertising.

    Google, Snap, TikTok, Uber and others have also tried to jump on the super app bandwagon, expanding their offerings in an effort to become indispensable to people as they go about their day. None have set the world on fire so far, not least because people already have a number of apps at their disposal to handle shopping, communicating and payments.

    “Old habits are hard to break, and people in the U.S. are used to using different apps for different activities,” said Jasmine Enberg, principal analyst at Insider Intelligence. Enberg also notes that super apps would likely suck up more personal data at a time when trust in social platforms has deteriorated significantly.

    Musk kicked off the latest round of speculation on Oct. 4, the day he reversed his attempts to get out of the deal and announced that he wanted to acquire Twitter after all. “Buying Twitter is an accelerant to creating X, the everything app,” he tweeted without further explanation.

    But he’s provided at least a little more detail in the past. During Tesla’s annual shareholder meeting in August, Musk told the crowd at a factory near Austin, Texas, that he thinks he’s “got a good sense of where to point the engineering team with Twitter to make it radically better.”

    And he’s dropped some strong hints that handling payments for goods and services would be a key part of the app. Musk said he has a “grander vision” for what X.com, an online bank he started early in his career that eventually became part of PayPal, could have been.

    “Obviously that could be started from scratch, but I think Twitter would help accelerate that by three to five years,” Musk said in August. “So it’s kind of something that I thought would be quite useful for a long time. I know what to do.”

    But it’s not clear that WeChat’s success in China means the same idea would translate for a U.S. or global audience. WeChat usage in almost universal in China, where most people never had a computer at home and skipped straight to going online by mobile phone.

    Operated by tech giant Tencent Holding Ltd., the platform has made itself a one-stop shop for payments and other services and is starting to compete in entertainment. It is also a platform for health code apps the public is required to use prevent the spread of the coronavirus.

    China has 1 billion internet users, and nearly all of them go online by mobile phone, according to the government-sanctioned China Internet Network Information Center. Only 33% use desktop computers at all — and mostly in addition to mobile phones. Tencent says WeChat had 1.3 billion users worldwide as of the end of June.

    Tencent and its main Chinese competitor, e-commerce giant Alibaba Group, aim to make apps that offer so many services that users can’t easily switch to another app. They’re not the only ones.

    WeChat has added video calls and other message features as well as shopping, entertainment and other features. Government agencies use it to send out health, traffic and other announcements. WeChat’s payment function, meanwhile, is so widely used that coffee shops, museums and some other businesses refuse cash and will take payment only through WeChat or the rival Ant app.

    There is no comparable app in the U.S., despite tech companies’ efforts.

    It’s worth remembering that Musk’s grand visions don’t always work out the way he appears to expect. Humans are nowhere near colonizing Mars and his promised fleet of robotaxis remains about as far from reality as the metaverse.

    Twitter’s user base is also tiny relative to those at its social-platform competitors. While Facebook, Instagram and TikTok all passed the 1 billion mark long ago, Twitter has about 240 million daily users.

    “Musk would not only have to overcome the hurdle of convincing consumers to change how they behave online, but also that Twitter is the place to do it,” Enberg said.

    ——

    Associated Press Writer Joe McDonald contributed to this story.

    [ad_2]

    Source link

  • TikTok reportedly plans to expand into music streaming service

    TikTok reportedly plans to expand into music streaming service

    [ad_1]

    TikTok reportedly plans to expand into music streaming service – CBS News


    Watch CBS News



    TikTok is reportedly looking to expand into the e-commerce and music world. Those close to negotiations say parent company ByteDance is aiming to integrate a service into the app that will rival Spotify or Apple Music. Business Insider senior media reporter Dan Whateley joins CBS News’ Errol Barnett and Elaine Quijano to tell us more.

    Be the first to know

    Get browser notifications for breaking news, live events, and exclusive reporting.


    [ad_2]

    Source link

  • Federal appeals court pauses Texas social media law’s enforcement amid looming Supreme Court petition | CNN Business

    Federal appeals court pauses Texas social media law’s enforcement amid looming Supreme Court petition | CNN Business

    [ad_1]


    Washington
    CNN Business
     — 

    A federal appeals court has agreed to suspend enforcement of Texas’ social media law restricting content moderation, in the face of a looming request by tech industry groups for the Supreme Court to review the case.

    In an order on Wednesday, the Fifth Circuit Court of Appeals granted a stay of its earlier mandate that had paved the way for the Texas law, known as HB 20, to take effect.

    HB 20 aims to expose social media platforms including Meta, YouTube and Twitter to new private lawsuits, as well as suits by the state’s attorney general, over the companies’ decisions to remove or reduce the visibility of user content they deem objectionable.

    The law is viewed as a challenge to decades of First Amendment precedent, which holds the government may not compel private entities to host speech.

    In a filing leading up to Wednesday’s order, the technology groups challenging the Texas law said they planned to ask for the Supreme Court to rule on HB 20, and that Texas did not oppose the motion for a stay.

    The Supreme Court has already indicated it is open to regulating social media platforms, agreeing this month to hear two cases that could indirectly narrow the scope of the tech industry’s all-important liability shield, Section 230 of the Communications Decency Act.

    Some justices, including conservatives Clarence Thomas and Samuel Alito, have explicitly cited the role and power of social media platforms as reasons the Court should step in.

    Last month, Florida’s attorney general called on the Supreme Court to review a social media law in that state that is similar to Texas’ legislation. The Eleventh Circuit Court of Appeals had earlier blocked Florida’s law, saying it was likely unconstitutional.

    That finding created a split with the Fifth Circuit’s decision to uphold Texas’ law, making it even more likely for the Supreme Court to take up the matter.

    [ad_2]

    Source link

  • Cloud stocks just wrapped up their worst week since January, led by plunge in Five9 and SentinelOne

    Cloud stocks just wrapped up their worst week since January, led by plunge in Five9 and SentinelOne

    [ad_1]

    Rowan Trollope, CEO, Five9

    Scott Mlyn | CNBC

    Cloud stocks plummeted 11% this week, the steepest drop since January, as executive departures at Five9 and Zscaler and investors’ continued rotation out of risk combined to send the group to its lowest level since March 2020.

    The WisdomTree Cloud Computing Fund, a basket of 75 cloud software stocks, has lost 53% of its value for the year, more than double the drop in the S&P 500. After soaring in 2020 and 2021, when Wall Street piled into growth at the expense of profit, the sector has fallen out of favor in 2022 on concerns over inflation and rising interest rates.

    Five9 shares suffered the biggest decline in the index, falling 29% for the week, after CEO Rowan Trollope said he was leaving to run a pre-IPO company. While the provider of call center software also pre-announced third-quarter revenue that indicated results would be better than expected, the numbers weren’t good enough to offset the concern caused by a transition in the C-suite.

    Trollope, who’s been CEO since 2018, is being succeeded by Mike Burkland, who resigned as CEO in 2017 after he was diagnosed with cancer. 

    “Interest level in the name remains high, but confidence is shaken following both announcements and the lack of clarification from Five9 until the earnings call next month,” wrote analysts from Piper Sandler in a report on Oct. 13. The firm still has a buy rating on the stock.

    Five9 wasn’t the only company in the group to lose a top executive. Security software vendor Zscaler announced the resignation of its president, Amit Sinha, who is also taking a CEO position at a pre-IPO company. The stock plunged 21% for the week.

    “While it’s never (or rarely) thought of as good news for a C-level executive to leave a company, we believe this change will not impact Zscaler’s near- or long-term prospects, and it appears to be a unique opportunity for Mr. Sinha,” wrote analysts from Guggenheim who recommend buying the stock.

    It was a choppy week for the markets broadly, capped off by a selloff on Friday. A consumer survey from the University of Michigan showed inflation expectations were increasing, a sentiment that the Federal Reserve is likely watching closely. The Nasdaq led declines as growth companies are most sensitive to interest rate hikes.

    The WisdomTree index fell all five days this week, and had its worst day on Friday, dropping 3.6%. SentinelOne, which sells cybersecurity software, dropped 22%, even with no particular news driving the decline. GitLab, a code repository for developers, slid 21%. SentinelOne and GitLab both went public last year in high-profile IPOs. They’ve each lost more than half their value this year.

    WATCH: The efficiencies of the cloud pose a long-term threat to hardware

    [ad_2]

    Source link

  • Meet the judge who tamed the Musk-Twitter trial

    Meet the judge who tamed the Musk-Twitter trial

    [ad_1]

    DOVER, Del. — A lawyer for billionaire Elon Musk had barely begun speaking during a recent hearing when the Delaware judge presiding over Twitter’s lawsuit against Musk abruptly cut her off.

    “Skip the rhetoric and go to the meat,” Chancellor Kathaleen St. Jude McCormick said bluntly.

    The judge’s tone that day illuminates the no-nonsense approach she brings as the first woman to lead Delaware’s 230-year-old Court of Chancery. The court is America’s go-to venue for high-stakes disputes involving some of the world’s biggest companies, many of which call Delaware their legal home.

    This court fight between the world’s richest man and the influential social platform could easily have become a circus, particularly given Musk’s penchant for chaos. That hasn’t happened largely thanks to McCormick, who’s been a judge for only four years. She has set firm deadlines, reined in over-the-top attorney requests and kept the case moving briskly.

    Musk has been battling Twitter since he announced in July that he wanted to scuttle an agreement to acquire the social media giant for $44 billion. Twitter sued Musk, seeking a court order of “specific performance” directing him to consummate the deal.

    McCormick recently ordered a temporary halt in the case after Musk indicated that he would go ahead with the transaction, but she also warned that she will schedule a November trial if Musk doesn’t close the deal by Oct. 28.

    The judge, whose humble demeanor belies her professional confidence, does not like the spotlight. After joining the court, McCormick admitted that she didn’t fully appreciate how everything she wrote or said would receive intense scrutiny.

    McCormick now seems unfazed that court observers and legal pundits are not only watching her every move, but sometimes pretending to know what she is going to do and why.

    “The world will have to wait for the post-trial decision,” she wrote in a September ruling, indirectly acknowledging the public spotlight on the case.

    From an early age, McCormick, 43, has demonstrated that she can adapt and persevere when faced with challenges.

    She was born in Dover, Delaware’s capital city, and raised with her two older brothers a few miles north in the town of Smyrna. Her mother taught English; her father taught history and coached Smyrna High School’s football team.

    “Katie” McCormick thought she, too, would become a teacher, even serving as president of the Delaware Future Educators of America, among other student organizations

    McCormick also was a tough athlete who played fastpitch softball and ran track despite having extreme scoliosis, an abnormal curvature of the spine that was apparent from birth and which required her to wear a brace at times. In 1995, when she was 15, McCormick underwent spinal fusion surgery.

    Two years later, as a 17-year-old senior, McCormick was the recipient of a scholarship awarded each year to a downstate athlete who had overcome a physical disability. A photograph from the awards banquet that night shows a smiling McCormick, in a white dress with paisley trim, standing between then-U.S. Sen. Joe Biden and former NFL quarterback Joe Theisman.

    “Some days were just a little harder than others, but I had faith it would all work out for the best,” McCormick said at the time, noting that other children she would meet during her hospital trips faced more severe problems.

    McCormick became the first Smyrna High student to attend Harvard University, where she majored in philosophy.

    McCormick, with a deep and eclectic interest in music, played in an Irish folk band while at college. She also became involved in a student-run legal aid program that helps low-income people in the Boston area. That experience helped pique her interest in the law, leading her to the University of Notre Dame law school.

    McCormick, who has long viewed the law as a path to serve others, spent her summers working in Northern Ireland for firms specializing in human rights work and international conflict resolution. After graduation, she looked homeward, taking a job with the Community Legal Aid Society, where she worked on housing issues.

    “Her academic record stood out. She was a Delaware native,” said CLASI executive director Dan Atkins, who recruited McCormick. “That was not typical for us, so that was cool.”

    After two years at CLASI, financial considerations involving the birth of her second child propelled McCormick into private practice. She later admitted that she felt “defeated” by the move because she had wanted to pursue a service-oriented path. Still, she developed a passion for business litigation, as well as for expedited proceedings like the fast-track schedule she ordered in the Twitter lawsuit.

    “Her return to public service with the court makes sense. She’s come full circle,” said Atkins, who noted that, in addition to corporate litigation, the Court of Chancery also handles equally important matters such as trusts and estates, guardianships and real estate disputes.

    “I bet you she gives those cases every bit of her attention that she gives the Twitter case,” he said. “I guarantee it.”

    McCormick is no humorless legal robot, however. In the introduction to her article in a law school journal, she poked fun at the supposed “misspelling” of her first name, Kathaleen, which she shares with her mother and grandmother. She explained that the unusual spelling was attributable to her great-grandmother, not the journal’s staff.

    On the Chancery Court, where judges sometimes cite historic, literary and even pop-culture references in their rulings, McCormick’s opinions tend to be comparatively prosaic and direct. Presented with the opportunity, however, she, too, can turn a phrase. A ruling last year in a lawsuit involving the cannabis industry opened with a reference to a Grateful Dead song.

    In another ruling last year, McCormick noted that, “Julia Child is rumored to have once said: ‘A party without a cake is just a meeting.’” In that case, she ordered a private equity firm to acquire a cake decorating company even though the buyers had “lost their appetite” for the deal after signing it. Such an order of specific performance is the same type of relief sought by Twitter against Musk.

    The icing on that particular cake? One week after that ruling, McCormick, who was appointed a vice chancellor in 2018 when the court expanded from five judges to seven, was promoted to chancellor.

    [ad_2]

    Source link