Feature

Twitter’s owner, Elon Musk and its new CEO says the social media network would ditch its bird logo, be rebranded with the name X and move quickly into payments, banking and commerce.

Founded in 2006, Twitter takes its name from the sound of birds chattering, and it has used avian branding since its early days, when the company bought a stock symbol of a light blue bird for $15, according to the design website Creative Bloq.

Tweeting a picture of the company’s new logo, a white X on a black background late Sunday night, Twitter Chief Executive, Linda Yaccarino said “X is here! Let’s do this.”

Also late Sunday night, Musk changed his profile picture to the company’s new logo, which he described as “minimalist art deco,” and changed his Twitter bio to “X.com,” which now redirects to twitter.com.

Musk had earlier tweeted that “If a good enough X logo is posted tonight, we’ll make (it) go live worldwide tomorrow.”

Musk also tweeted that under the site’s new identity, a post would be called “an X.”

The changes were not visible on the website as of 0630 GMT Monday.

Musk had already named Twitter’s parent company the X Corporation, and previously said his takeover of the social media giant was “an accelerant to creating X, the everything app” a reference to the X.com company he founded in 1999, a later version of which went on to become payments giant PayPal.

Such an app could still function as a social media platform, and also include messaging and mobile payments.

“Powered by AI, X will connect us in ways we’re just beginning to imagine,” Yaccarino tweeted earlier on Sunday.

Yaccarino, an advertising sales executive at NBCUniversal who Musk poached last month to become Twitter’s CEO, said the social media platform was on the cusp of broadening its scope.

“X is the future state of unlimited interactivity centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities,” Yaccarino tweeted.

Punch / Titilayo Kupoliyi

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Foreign

 Twitter’s new boss, Elon Musk, may be considering stepping down as the Chief Executive Officer of the micro-blogging company after less than two months on the job.

Musk tweeted a poll via his verified handle Sunday night asking tweeps to vote on whether he should step down as Twitter’s CEO, adding that he would abide by the poll’s results.

He tweeted, “Should I step down as head of Twitter? I will abide by the results of this poll.”

As of Monday morning, with about six hours to the end of the poll, “Yes” was winning by a margin of 56.3% to 43.7%.

Since buying Twitter and taking over as CEO in late October, the billionaire owner of Tesla has been involved in a series of controversies on the ‘blue app.’

After buying the company for $44 billion from its former CEO, Jack Dorsey, Musk began to make some controversial changes to the company’s policy and personnel.

He sacked several of Twitter’s top executives and half of the company’s staff immediately after becoming its CEO, and announced a stop to remote working for the remaining, lucky employees.

He then gave the remaining staff an ultimatum that they needed to do “extremely hardcore” work or leave, an announcement that saw hundreds or so of the remaining staff quit the company.

The new CEO has fired employees who openly disagreed with his policies or tweets.

Musk went on to announce a new policy to commercialise the verification badge on the social media platform, a policy which raised dust among tweeps.

He first proposed a $20 monthly subscription fee for the blue badge, which he later slashed to $8.

He has frequently changed Twitter’s rules by executive fiat and with no prior notice and has banned tweeps who violated his new rules.

Recently, Musk disabled the Twitter Space feature from the app after having a heated argument with the host of a Twitter Space he participated in. The company, however, claimed that Space was disabled because of a little glitch. It has since been restored after backlashes from users.

In what seemed to be like a remorse for his unannounced policy changes, Musk tweeted Sunday night that every major policy change would now be subjected to a vote.

He wrote, “Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again.” Punch/Simeon Ugbodov

Foreign

The world’s richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to US media and an investor in the firm.

He tweeted “the bird is freed,” in an apparent reference to the deal closing.

A number of top executives, including the boss, Parag Agrawal, have reportedly been fired.

It brings to a close a saga that saw Twitter go to court to hold the multi-billionaire to the terms of a takeover deal that he had tried to escape.

Twitter has not yet confirmed the takeover, but an early investor in the company told the BBC that the deal had been completed.

Mr Musk, a self-styled “free speech absolutist”, has been critical of Twitter’s moderation policies and the news will be greeted with mixed feelings by Twitter users and employees.

Many people on the right of US politics will celebrate the exit of Mr Agrawal as chief executive. They view people like Mr Agrawal, and his predecessor, Jack Dorsey, as liberals who are curtailing free speech.

They also think that under their stewardship, Twitter has censored conservative voices – an accusation that Twitter denied.

Mr Agrawal, chief financial officer Ned Segal, and the firm’s top legal and policy executive, Vijaya Gadde, are no longer with the company, according to US media reports.

Mr Agrawal and Mr Segal were escorted out of Twitter’s San Francisco headquarters after the deal closed, the Reuters news agency reported.

Twitter co-founder Biz Stone thanked Mr Agrawal, Mr Segal and Ms Gadde for their “collective contribution” to the business.

Meanwhile, Bret Taylor – who had served as Twitter’s chairman since last November – updated his LinkedIn profile to indicate that he was no longer in the post.

It is not clear yet if the reported board clear-out is the opening salvo in company-wide job cuts.

Ross Gerber, president and chief executive of Gerber Kawasaki Wealth and Investment Management, who is a shareholder in both Twitter and Mr Musk’s other company Tesla, told the BBC reports that 75% of staff at the social media company will lose their jobs is “inaccurate”.

“The figure that they have mentioned originally was around 50% of the staff,” he said. “But that was predicated on the teams that were working on reviewing who the staff was and how good the staff is.”

He said it is likely Twitter’s new owner will want to keep people “especially on the engineering side”.

“Really what they’re looking at from the trimming side is management which they’ve already started with upper management,” said Mr Gerber. He said cuts are then likely to extend to product managers “and products they’ve been working on that aren’t going anywhere”.

The social media platform’s shares will be suspended from trading on Friday, according to the New York Stock Exchange’s website.

Mr Musk said he bought the social media platform to help humanity and he wanted “civilisation to have a common digital town square”.

Earlier this week, Mr Musk tweeted a video of himself walking into Twitter’s headquarters in San Francisco carrying a kitchen sink with the caption: “let that sink in!”

He also changed his Twitter profile to read “Chief Twit”.

A long road

Mr Musk’s early investments in Twitter initially escaped public attention. In January, he began making regular purchases of shares, so that by the middle of March he had accumulated a 5% stake in the firm.

In April, he was revealed as Twitter’s largest shareholder, and by the end of the month, a deal was finally reached to buy the company for $44bn.

He said he planned to clean up spam accounts and preserve the platform as a venue for free speech.

But by mid-May Mr Musk, a prolific Twitter user, had begun to change his mind about the purchase, citing concerns that the number of fake accounts on the platform was higher than Twitter claimed.

In July, he said he no longer wished to acquire the company. Twitter, however, argued the billionaire was legally committed to the acquisition and eventually filed a lawsuit to hold him to the deal.

In early October, Mr Musk revived his takeover plans for the company on condition that legal proceedings were paused

BBC/Simeon Ugbodovon

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Technology

Twitter says it has begun actively testing an edit button, after months of publicly discussing such a tweak.

The company said the trial of “Edit Tweet” will begin with internal employees, and then be expanded out to the platform’s “Twitter Blue” subscription population.

“Edit Tweet is a feature that lets people make changes to their Tweet after it’s been published,” the company said on its blog. “Think of it as a short period of time to do things like, fix typos, add missed tags, and more.”

Under the revision being studied, users could edit a tweet “a few times” in the 30 minutes after the initial posting, in ways that transparently note the changes to “help protect the integrity of the conversation and create a publicly accessible record of what was said,” the company said.

Tesla Chief Executive Elon Musk, who is locked in a lawsuit with Twitter over a potential acquisition of the micro-blogging platform, had backed an edit button shortly before the company said in April it was studying the change.

Users of Twitter Blue – the subscription offering now available in the United States, Canada, Australia and New Zeeland – “receive early access to features and help us test them before they come to Twitter,” the company said.

Twitter said an aim of the tweak is that “Tweeting will feel more approachable and less stressful”.

“You should be able to participate in the conversation in a way that makes sense to you, and we’ll keep working on ways that make it feel effortless to do just that.”

However, a Twitter spokesperson said the test will not necessarily be employed universally on the platform.

AFP/Maxwell Oyekunle

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Foreign

Elon Musk has threatened to walk away from his $44bn takeover of Twitter, accusing the social media company of “thwarting” his requests to learn more about its user base.

In a letter filed with regulators, Mr Musk said he was entitled to do his own measurement of spam accounts.

The letter formalises a dispute that has simmered for weeks after Mr Musk declared the deal “on hold” pending further information.

Twitter has defended its estimates.

But Mr Musk has said he believes spam and fake accounts represent a far greater share than the less than 5% of daily users that Twitter reports publicly.

As Twitter’s prospective owner, Mr Musk is clearly entitled to the requested data to enable him to prepare for transitioning Twitter’s business to his ownership and to facilitate his transaction financing. To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model – its active user base,” lawyer Mike Ringler wrote in the letter.

“Based on Twitter’s behaviour to date, and the company’s latest correspondence in particular, Mr Musk believes the company is actively resisting and thwarting his information rights,” the letter said.

“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.”

The dispute has raised more doubts about the future of the takeover, which Twitter’s board approved in April.

Twitter has said Mr Musk waived typical rights to due diligence in his eagerness to clinch the deal.

But last month, Mr Musk raised the issue of the spam accounts on social media, saying the deal was on hold but he remained committed to the acquisition.

Mr Musk is on the hook for a $1bn break-up fee if he opts out of the deal, as is Twitter.

Analysts have said the Tesla boss might be using the issue to try to renegotiate the price or even walk away. They said Mr Musk’s decision to raise the issue on social media was unconventional, making it difficult to establish how serious he was.

When Twitter chief executive Parag Agrawal defended the company’s process in a series of tweets, Mr Musk responded with a poo emoji.

Mr Musk has said he believes that bots could account for 20% or more of Twitter users. The letter, filed with the US Securities and Exchange Commission, confirms that the two sides have gone back and forth on the issue since early May.

It says Mr Musk merits “reasonable cooperation” as he tries to line up financing for the deal.

“Twitter’s latest offer to simply provide additional details regarding the company’s own testing methodologies, whether through written materials or verbal explanations, is tantamount to refusing Mr Musk’s data requests,” the letter says.

“Twitter’s effort to characterize it otherwise is merely an attempt to obfuscate and confuse the issue.”

Mr Musk’s plans for the company have drawn intense scrutiny from regulators around the world, while raising some alarm among investors of electric car company Tesla and rocket firm SpaceX, which Mr Musk also leads.

He has lined up outside investors to help pay for the takeover and is also using equity and loans backed by his Tesla shares, which have been hit in recent weeks as market turmoil wipes billions from the values of companies including Tesla.

The decline has also made Mr Musk’s offer of $54.20 per share for Twitter look even more generous. On Monday, Twitter shares were trading below $39, down 3%. They have yet to return to the highs they hit last month shortly after Mr Musk revealed he had purchased about 9% of the firm’s shares.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said the letter marked the “strongest signal yet that the Tesla founder is prepared to walk away”.

“This is a move Twitter investors have for weeks been steeling themselves for: the moment when Elon Musk’s haphazard ruminations in tweets have been distilled into an official letter to regulators,” she said. “However, given the added volatility which has hit the tech sector since Mr Musk made his offer, it’s highly likely he’s after a cheaper price even if Twitter does provide the data requested in support of its initial analysis.”


BBC /Taiwo Akinola

Foreign

The billionaire founder of Tesla Inc, Elon Musk, has said that Twitter may charge  commercial and government users a slight cost

Musk stated this on his verified  Twitter handle, on Wednesday.

He said the microblogging platform would always be free for “casual users.”

“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” he said.

Last week, Twitter announced that it accepted Musk’s buyout offer of $44 billion, making him the new owner of the platform, pending regulatory and shareholder approval.

Following the  announcement, Musk said he wanted to enhance the platform with new features.

Newspeak/ Oluwayemisi Owonikoko

Technology

Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc. (Photo: Bloomberg)

Tesla Chief Executive Elon Musk, now the world’s richest person with a net worth north of $180 billion, announced on Twitter that he planned to give away $100 million as prize for the “best carbon capture technology.”

He added in a subsequent tweet that he would provide more details next week, so it is not yet clear how such a contest will work.

Am donating $100M towards a prize for best carbon capture technology

— Elon Musk (@elonmusk) January 21, 2021

Capturing planet-warming emissions is becoming a critical part of many plans to keep climate change in check, but very little progress has been made on the technology to date, with efforts focused on cutting emissions rather than taking carbon out of the air.

Carbon dioxide is the most commonly produced greenhouse gas. Carbon sequestration is the process of capturing and storing atmospheric carbon dioxide. It is one method of reducing the amount of carbon dioxide in the atmosphere with the goal of reducing global climate change.

International Energy Agency said late last year that a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions targets.

FRCN Abuja