| Alex Heath / The Verge: |
Sources: Twitter could make Twitter Blue a $20/month subscription that verifies users; staff have until November 7 to build the feature or face being fired — Now that he owns Twitter, Elon Musk has given employees their first ultimatum: Meet his deadline to introduce paid verification on Twitter or pack up and leave.| Casey Newton / Platformer: |
Sources: Twitter is strongly considering taking away its verified users' badges if they don't subscribe to Twitter Blue — Under pressure to generate revenue quickly, Twitter's new CEO considers ending free verification — Twitter is strongly considering making its users pay to remain verified … | Washington Post: |
Source: Elon Musk plans to lay off 25% of Twitter's workforce in the coming days, focusing on sales, product, engineering, legal, and trust and safety — The first round of layoffs, led by his lawyer Alex Spiro, will target 25 percent of the workforce — SAN FRANCISCO … | Lauren Hirsch / New York Times: |
Twitter faces ~$1B per year in interest expenses after Elon Musk's deal added ~$13B in debt, up from ~$50M in 2021 when operations generated ~$633M in cash flow — Mr. Musk faces financial challenges in owning Twitter. The site frequently loses money and took on $13 billion in debt for the blockbuster deal.| Financial Times: |
Sources detail the twists and turns in Elon Musk's $44B Twitter takeover, starting in March, falling apart, and then closing late on October 27 — Even as his $44bn buyout came down to the wire, Elon Musk kept Twitter guessing. — Normally, lawyers and advisers on each side … | Alex Heath / The Verge: |
| Alyssa Lukpat / Wall Street Journal: |
The top 20 tech billionaires globally have lost $480B+ on paper in the past year; Mark Zuckerberg's wealth drops by $87B+, Elon Musk and Jeff Bezos by $58B+ — Moguls including Mark Zuckerberg and Jeff Bezos have collectively lost more on paper than the market values of most S&P 500 companies| Selina Cheng / Wall Street Journal: |
Inside Foxconn's Zhengzhou iPhone plant as the company grapples with a weekslong COVID-19 outbreak during a critical period, leading to harsh lockdown measures — As it adheres to Beijing's strict epidemic controls, Apple's biggest smartphone assembler scrambles to keep production lines moving| Wall Street Journal: |
TuSimple's board fires CEO Xiaodi Hou after reports the US is probing whether it improperly financed and transferred tech to a Chinese startup; stock drops 44%+ — Self-driving trucking company's leadership faces federal investigations into whether it improperly financed and transferred technology to a Chinese startup| Wall Street Journal: |
Sources: US-based self-driving trucking company TuSimple faces US federal probes into whether it improperly financed and transferred tech to a Chinese startup — Government authorities are investigating whether the U.S. self-driving trucking company defrauded investors by financing and transferring technology to China-backed Hydron| Natasha Singer / New York Times: |
The FTC accuses homework help app Chegg of security lapses, such as ~40M users' personal info and passwords stolen in 2018; Chegg agrees to boost data security — Chegg, a homework help app, exposed the data of 40 million users, including details about some students' sexual orientation and religion … | Amanda Hoover / Wired: |
Some Twitter users, concerned about Elon Musk's ownership, are moving to alternative platforms, including Mastodon, which has seen sign-ups surge, and Discord — Discord, Mastodon and other services are bustling as Twitter fans make backup plans for their online social lives.| Amitoj Singh / CoinDesk: |
The Reserve Bank of India plans to begin testing its CBDC on November 1, with nine banks participating, and a retail version in select locations within a month — A pilot for a retail version will start within a month. — India's central bank will introduce a pilot wholesale central bank digital currency … | Benjamin Parkin / Financial Times: |
India's ban on Chinese video games has boosted its domestic industry but foreign publishers, wary of the heavy-handed approach, are afraid to invest — Heavy-handed approach drives domestic success, but executives worry foreign publishers now afraid to invest in country — It is the year 2500.| Stacy Elliott / Decrypt: |
CoinGecko: over the past year, normalized exchange volume has dropped 91% for Crypto.com, 90% for Huobi, 77% for FTX, 75% for Coinbase, and 57% for Binance — Bad ad or bad timing? Either way, trading is down big. — Whichever version of the Latin proverb you choose …
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| Dan Milmo / The Guardian: |