Techmeme
October 27, 2022, 2:25 PM

Top News

Todd Spangler / Variety:
Elon Musk seeks to reassure Twitter advertisers, arguing his goal is not “to make more money” and the service “cannot become a free-for-all hellscape”  —  Mega-billionaire Elon Musk, nearing the finish line in his rocky takeover of Twitter, posted an open letter …
Wall Street Journal:
Sources: ahead of Elon Musk's takeover, advertisers on Twitter are concerned about looser content moderation and potential conflicts of interest for auto ads  —  Marketers worry about the Tesla CEO's stance on content moderation, potential conflicts in auto advertising if the Twitter deal completes
Wall Street Journal:
Sources: banks providing $13B in cash to help fund Elon Musk's Twitter bid have begun transferring the money, signaling the deal could close on Friday  —  Mr. Musk sends borrowing notice, kicking off process to complete the $44 billion deal  —  Elon Musk Plans to Change Twitter, Here Are the Challenges He Faces
Edward Ludlow / Bloomberg:
Sofia Pitt / CNBC:
Meta's stock plummets 22%+, opening around $100, the lowest price since 2016, as investors are spooked by excessive investment into the metaverse  —  - The parent company of Facebook reported its second straight quarterly decline.  — Meta's Reality Labs division, which houses its VR headsets …
Meta - Investor Relations:
Alex Barinka / Bloomberg:
Nelson Wang / CoinDesk:
The Verge:
Spotify updates its iOS app to remove audiobook purchasing options, saying in a message to users that “it's not ideal”, to comply with Apple's App Store rules  —  An update for Spotify's iOS app released Thursday had a big change for its audiobooks vertical — and not for the better.
Joe Rossignol / MacRumors:
Following complaints from prominent developers, Apple says it has “paused ads related to gambling and a few other categories on App Store product pages”  —  Apple today rolled out new ad placements in the App Store on the iPhone, allowing developers to advertise their apps in more places …
David Gutman / The Seattle Times:
A Washington judge fines Meta $24.66M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times  —  Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.
Tom Warren / The Verge:
Microsoft says Xbox Game Pass is profitable and accounts for ~15% of Xbox's content and services revenue, after sharing PC Game Pass subscriptions rose 159% YoY  —  Microsoft Gaming CEO Phil Spencer has revealed that the company's Xbox Game Pass subscription service is already profitable.

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