Musk might actually find his acquisition of Twitter goes far better if he focuses less on posting and more on getting his $44 billion purchase into the shape he wants it.
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Editor's Note: The Elon Show
Connor Sephton writes...
We're more than a week into the brave new world of Elon Musk owning Twitter.
My feed used to be a pretty healthy mix of breaking news, crypto charts, and the odd joke thrown in for good measure. Now it just seems to be all Elon, all the time.
It really feels like Musk has made the social network all about him — with dozens of tweets a day that reveal what his plans are for Twitter.
While some might be interested in such granular detail, most on Twitter just want to get on with posting and having conversations with followers.
Do we really need an endless stream of cringeworthy memes, and Musk telling his critics that they'll have to pay $8 for verification like everyone else?
Musk might actually find his acquisition of Twitter goes far better if he focuses less on posting and more on getting his $44 billion purchase into the shape he wants it.
Given the fact he's now running three major companies — Tesla, SpaceX and Twitter — it's astounding that he's got so much time to get involved in this much low-quality banter.
Fired Twitter staff asked to come back 👀
In a rather awkward U-turn, Twitter has reportedly started asking fired employees if they would be willing to return to the social network. Bloomberg says dozens of people were laid off by mistake as their "work and experience may be necessary" for the new features Elon Musk wants. The billionaire has said the mass layoffs — 50% of the total workforce — were necessary because Twitter is losing over $4 million per day. But there are allegations that the redundancies may have broken employment laws in some countries, including the U.K. Musk's Twitter account right now is a constant feed that shows his wishlist for new features and tools — a roadmap that needs to be accomplished with a drastically slimmed-down workforce.
Meta to begin 'large-scale layoffs' 😬
Days after a brutal round of redundancies at Twitter, Meta is reportedly planning to begin large-scale layoffs this week. According to The Wall Street Journal, thousands of Meta's employees will be affected — and an announcement is expected as early as Wednesday. Recent figures suggest that the tech giant — which owns Facebook, Instagram and WhatsApp — has over 87,000 employees. All of this comes as Meta grapples with a shocking fall in its share price, with stock plunging by 73% in the year to date. Investors have struggled to warm to Mark Zuckerberg's plans to build a metaverse, which has led to billions of dollars in losses. It's unclear whether Reality Labs, the division responsible for the metaverse, will be affected.
What if MicroStrategy bought ETH? 🧐
Michael Saylor made a huge splash in August 2020 when he announced MicroStrategy was going to start investing in Bitcoin. The company now owns 130,000 BTC — but is nursing paper losses of $1.26 billion. But what would have happened if the business intelligence firm had chosen Ether instead? New data reveals that, despite the crypto winter, MicroStrategy would still be up by $1.58 billion. It would also make $136 million in annual revenue from staking. Despite all of this, don't expect Saylor to start embracing ETH any time soon. For him, it's about much more than price — and he fears planned upgrades to Ethereum's network over the coming years will "introduce new attack surfaces," potentially opening the door to hackers.
