Connect with us

Social Media

Tesla CEO Elon Musk Given 22 Days Ultimatum by A U.S Court to Acquire Twitter

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

Published

on

Twitter - Investor sking

Following Elon Musk’s decision to opt-out of the $44 billion Twitter acquisition deal, a Delaware Court of Chancery in the United States has ordered the Tesla CEO to acquire the micro-blogging platform within 22 days.

The judge presiding over the case made the order following Musk’s decision to proceed with the acquisition of the social networking company 12 days before the court trial on the lawsuit Twitter filed against him. 

Musk had earlier opted out of the Twitter deal where he accused the platform of thwarting his information rights by not providing enough data on fake accounts on the platform.

Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested Twitter’s filings with the Securities and Exchange Commission were misleading.  The company had earlier disclosed that only less than 5% of its daily active users are spam accounts.

However, the Tesla CEO wasn’t convinced by the number of bots accounts twitter claimed were on the platform. He, therefore, insisted that his acquisition of the social media company cannot move forward until he sees more information about the prevalence of spam accounts.

It should be recalled that on May 27, 2022 Investors King reported that

Twitter also displeased by Musk’s action filed a lawsuit in the Delaware Court of Chancery, urging him to complete his $44 billion takeover of the social media company where it accused him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price.

Recently, during a court hearing after the judge at the Delaware court had given Musk a 22 days ultimatum, he asked that Twitter drop the initial lawsuit scheduled for October 17, but the social media company insisted that it would keep the litigation alive until the deal was concluded.

Musk had made the request stating that the lawsuit should be stepped down to enable him to raise the needed capital for the acquisition ahead of the October 28 deadline.

Continue Reading
Comments

Social Media

Elon Musk Envisions X as the Future of Your Financial Life

Published

on

X Logo of Twitter

Tech visionary Elon Musk unveiled his vision for X, aiming to transform it into the epicenter of people’s financial worlds by the end of 2024.

Musk’s plan transcends mere payment solutions, targeting nothing short of the complete financial ecosystem, including money and securities. “You won’t need a bank account,” he affirmed.

X, led by CEO Linda Yaccarino, sees this as an ambitious opportunity that could reshape the financial landscape as we know it.

Musk expressed his unwavering commitment to the cause, stating, “It would blow my mind if we don’t have that rolled out by the end of next year.”

This ambition traces back to Musk’s dot-com-era online bank, X.com, which later evolved into PayPal. Musk aims to take a page from his earlier playbook, hoping to outshine PayPal with a more comprehensive approach.

The platform’s offerings are set to include high-yield money market accounts, debit cards, checks, and loan services. Musk’s endgame? An ecosystem that empowers users to send money worldwide instantly and in real-time.

However, this transformation is not without its challenges. Elon Musk must convince users of the necessity of such an all-encompassing platform while gaining their trust with their financial lives.

The vision of X as an “everything app” resonates with the rise of super apps like WeChat in China, which provide users with access to a myriad of services, from shopping to transportation.

As X positions itself to revolutionize the financial industry, Musk’s audacious endeavor promises to change the way we handle money, potentially eliminating the need for traditional banking as we know it.

The world watches with bated breath to see if Musk’s bold vision will become a reality.

Continue Reading

Social Media

WhatsApp Introduces Dual Account Feature, Enabling Users to Sign Into Two Accounts

Published

on

whatsApp

WhatsApp has introduced a groundbreaking innovation that promises to redefine the user experience.

This new feature allows individuals to simultaneously manage two WhatsApp accounts on a single device, eliminating the need for dual phones.

The eagerly anticipated announcement was made by Mark Zuckerberg, Facebook’s CEO, who assured Android users that this feature will soon grace their screens.

Gone are the days of juggling multiple WhatsApp accounts, a task that often required carrying two separate devices. While tech giants like Xiaomi and Oppo had previously introduced app cloning features for multiple WhatsApp instances, WhatsApp’s integrated approach sets a new standard for seamlessness.

This innovation is poised to be a game-changer for users who navigate both personal and professional realms on this ubiquitous messaging platform.

Cumbersome login-and-logout routines and the perpetual concern of messaging from the wrong account will soon be a thing of the past, replaced by a newfound ease of multitasking.

Activating this feature is a straightforward process. Users need only navigate to the ‘Settings’ menu and select ‘Add Account.’ During setup, a second phone with a SIM card or a device supporting eSIM technology is required to unlock the full potential of multi-SIM functionality.

WhatsApp ensures that each account can have its own customized notification and privacy settings, preserving data integrity and personalization.

In addition to the dual account feature, WhatsApp recently introduced passkey support for Android, enhancing security by providing an alternative to SMS-based two-factor authentication.

This latest advancement underscores WhatsApp’s dedication to user convenience, connectivity, and digital identity security, setting the stage for a more organized and efficient way of communication.

Continue Reading

Social Media

X Takes on Bots: New Zealand and Philippines Users Pay $1 Subscription

Published

on

X Logo of Twitter

X, formerly known as Twitter, has embarked on a bold initiative to combat the growing menace of bots and spammers on its platform.

The company, now owned by Elon Musk, recently rolled out a new subscription plan in New Zealand and the Philippines, requiring new users to pay a mere US$1 per year for access to essential functions like tweeting, replying, retweeting, and liking.

The move, dubbed ‘Not A Bot,’ is designed to fortify X’s ongoing efforts to curb spam, manipulation, and bot activity. New users in these countries must first verify their phone numbers and then pay the nominal fee to post, like, reply, repost, quote posts, and bookmark.

Those who opt out of subscribing will be restricted to “read-only” actions, such as reading posts, watching videos, and following accounts.

Elon Musk, who has been at the helm of X, explained the rationale behind this strategy. Bots, he noted, are inexpensive to set up, costing only a fraction of a penny.

By imposing a nominal fee, X aims to deter bot operators and make it more challenging for them to create multiple accounts.

This move is a part of Musk’s broader vision for transforming X into an all-encompassing app, including payment services.

Musk has been exploring alternative revenue sources as ad revenue declined by 60% due to advertiser boycotts and concerns over content management.

As the ‘Not A Bot’ program unfolds, it holds the potential to revolutionize the fight against bots and spammers, making social media a safer and more authentic space for users. X is eager to assess the program’s effectiveness and may consider expanding it to all users in the future.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending