Elon Musk Archives - Latest News | Global Business Review Magazines

Elon Musk and Twitter are now fighting about Signal messages

Posted on September 28, 2022 by Admin

Elon Musk’s private messages could once again land him in hot water in his legal fight with Twitter. Lawyers for the two sides once again faced off in Delaware’s Court of Chancery ahead of an October trial that will determine the fate of the deal.

Among the issues raised in the more than three-hour long hearing was Musk’s use of encrypted messaging app Signal. Twitter’s lawyers claim that Musk has been withholding messages sent via the app, citing a screenshot of an exchange between Musk and Jared Birchall, the head of Musk’s family office.

In Twitter’s View

According to Twitter’s lawyers, the message referenced Morgan Stanley and Marc Andreesen as well as “a conversation about EU regulatory approval” of Musk’s deal with Twitter. Twitter’s lawyers said they uncovered a screenshot of the exchange after Musk and Birchall had denied using Signal to talk about the deal. The screenshot showed the message was set to automatically delete.

Lawyers for Twitter also cited “a missing text message” between Musk and Oracle Chairman Larry Ellison, who was set to be a co-investor in the Twitter deal. Musk and Ellison were texting the morning before Musk tweeted that the Twitter deal was “temporarily on hold.” It’s not clear what the significance of the texts are, but Twitter’s lawyers noted that Musk wrote to Ellison saying “interesting times” before arranging a phone call with him.

Twitter’s lawyers are asking the judge in the case, Kathaleen St. J. McCormick, to sanction Musk over his side’s handling of his messages. “We do think that the time has come for the court to issue a severe sanction,” Twitter’s lawyers said during the hearing.

In Elon Musk’s View

Musk’s side attempted to downplay the significance of the Tesla CEO’s use of Signal. “There actually is no evidence that we destroyed evidence,” one of Musk’s lawyers responded. “Signal, you know, it sounds like it’s a nefarious device,” she said. “In fact, Twitter executives have testified that a number of them actually use Signal messaging.”

Musk’s lawyers cited the existence of Signal messages between Jack Dorsey and board chair Bret Taylor, and noted that current CEO Parag Agrawal has also turned over Signal messages. “Signal is not some exotic mechanism, it’s very common in Silicon Valley to use this platform,” she said.

For more updates on legal industry, Click here.

Elon Musk made his bid, and now he might actually have to lie in it

Posted on September 19, 2022 by Admin

Twitter shareholders have approved Elon Musk’s Twitter dot com acquisition, so that’s nice. Musk has, at this point, sent several letters trying to terminate the deal, and who knows, maybe he’ll send more. His pretext for backing out of the deal — I am not going to try to pretend that he really believes this stuff — isn’t looking so good, partly because his whistleblower deus ex machina seems to be a bust. One way to implement the changes Zatko wanted was to run Dorsey over!

Elon Musk’s lies

The pretext Musk is leaning on is that Twitter is knowingly lying about its user numbers, overcounting bots, and so on. A whistleblower complaint filed by Peiter “Mudge” Zatko maybe bolsters his case slightly, but not much. Underlings expect that their bosses will help defend them in their work disputes. But executives don’t have that luxury. They are at the top of the food chain and are themselves responsible for resolving conflicts. There is nobody to go to in order to complain, not the board who only wants results, and not HR, because you are above HR. Not anybody — you have to resolve your own disputes.

Zatko’s complaint seems to be about looking for dispute resolution in the court of public opinion, because he was unable to resolve his dispute with [Twitter CEO Parag] Agrawal himself. In fact, the more I hear, the more I think current Twitter CEO Parag Agrawal had a point about Zatko’s “poor leadership,” which was one of the reasons Agrawal cited for Zatko’s firing. I’m not alone, either — Twitter shares closed up 2 percent after Zatko’s testimony on Tuesday, which doesn’t sound like much until you realize the rest of the stock market fell. Seems like investors didn’t think much of Zatko’s complaints, either.

Plus, as Techdirt’s Mike Masnick has noted, Zatko’s thoughts on Twitter’s measurement of monetizable users don’t square with Musk’s arguments about bots and fake accounts. There is one bright side for Musk here, though. (Well, besides the Zatko-related shareholder lawsuit.) He tweeted out a link to the Tesla merch store where one could order a “Cyberwhistle” for 1,000 Dogecoin. The “Cyberwhistle” is now out of stock, and presumably, Tesla is many Dogecoin richer.

For more updates on finance industry, Click here

Starlink home internet services are officially going mobile

Posted on July 3, 2022 by Admin

In a piece of recent and latest news, SpaceX’s satellite internet service is officially going mobile after the Federal Communications Commission. On Thursday, 30 June 2022, FCC authorized the company to provide its Starlink WiFi service to vehicles. SpaceX already offers Starlink home internet, which left beta last October. The space-based internet is coming to planes, trains and automobiles, including water-mode of transport like boats.

Starlink home internet

“We agree with SpaceX… that the public interest would benefit by granting with conditions their applications,” The FCC wrote in its authorization letter. “Authorizing a new class of terminals for SpaceX’s satellite system will expand the range of broadband capabilities to meet the growing user demands that now require connectivity while on the move, whether driving an RV across the country, moving a freighter from Europe to a U.S. port, or while on a domestic or international flight.”

Starlink had already begun expanding its terrestrial footprint, even before the FCC decision, installing receiver dishes at Tesla Supercharger stations, raising prices and unveiling a $500/month Premium service tier. SpaceX has also recently announced partnerships with Delta and Hawaiian Airlines to potentially offer the service aboard their aircraft.

Operation of Group-based telescopes

SpaceX, and CEO Elon Musk, have also played the hero in recent months by offering an ‘internet bridge’ to volcano-devastated Tonga and providing Starlink Starlink home internet terminals to the Ukraine government—a generous offer that was, like most of Musk’s ventures, footed by the American taxpayer.

Starlink home internet service—more specifically, the massive constellation of microsatellites in Low Earth Orbit that enable it—has also drawn condemnation from astronomers worldwide who argue that the highly-reflective satellites, of which there are currently more than 2,200 in orbit and which Musk wants 40,000 more of, are grossly interfering with the operation of ground-based telescopes.

Musk’s Belated Disclosure of his Twitter Purchase Led him to a Lawsuit

Posted on May 13, 2022 by Admin

In a piece of recent news, the US Securities and Exchange Commission (SEC) is investigating Elon Musk’s belated disclosure of his purchase of more than 5% of Twitter’s share. The lag allowed him to purchase more stock without alerting other shareholders, something that may have saved him a significant amount of money. Musk is also facing a lawsuit from Twitter shareholders and a separate FTC probe over the same matter.

Musk’s Belated Disclosure of Shares

Musk’s belated disclosure has led to a series of controversies and lawsuits. He disclosed his purchase of the shares on April 4th, 10 days later than the law requires. According to the WSJ’s expert, he likely saved over $143 million by not reporting the trade, as the share price may have been higher had the market known about his stake. He eventually acquired 9.2 percent of Twitter, which made him the company’s largest shareholder.

In his initial filing, Musk said he was a passive shareholder, but the following day he filed a form that showed more involvement, including an offer to join the board of directors. A week later, he submitted an offer to buy Twitter for $44 billion, which has been approved by Twitter’s board. Musk has said that he’ll unlock the “extraordinary potential” of the site and that the deal will be good for free speech.

A Passive Shareholder

A series of lawsuits have been spinned due to Musk’s belated disclosure. Musk has butted heads frequently with the SEC over the past few years. In February, he asked a judge to overturn his agreement with the SEC that required him to get approval for tweets, accusing the Commission of conducting a “harassment campaign.” That request was denied, as was Musk’s request to block an SEC subpoena related to possible insider trading.

Musk was also hit with a class-action lawsuit over his Twitter investment. The SEC appears to have a good case against Musk for the late disclosure, but it’s not yet clear what it plans to do. However, the lawsuit is unlikely to stop Musk’s purchase of Twitter, according to the WSJ.

Also Read: Compilation of 30 Unique Facts about Elon Musk you Should Know in 2022

Compilation of 30 Unique Facts about Elon Musk you Should Know in 2022

Posted on April 30, 2022 by Admin

Elon Musk is well renowned for his quirky thoughts and spontaneous tweets. Facts about Elon Musk is one of the most searched topic on the internet. He is also known for his outlandish claims and ideas. The Tesla CEO always has some fascinating ideas for the future and his tweets are a prime example of that. Among his ideas are the Hyperloop, a futuristic transportation system, a human colony on Mars aided by affordable space travel, linking our brains to computers, and developing micro-satellites to provide low-cost internet access to the masses.

Besides his world famous entrepreneurial passion, Musk is also one of the most controversial business leaders of our time. In this blog, we have compiled a list of some unique facts about Elon Musk that define his personal as well as professional life.

Musk loved “The Hitchhiker’s Guide to the Galaxy,” as a boy and at age 12, he reportedly made a space-themed PC game called ‘Blastar’ which was sold to a magazine for $500.
By 25, Musk had created Zip2, an online advertising platform, and was a millionaire by age 30 after selling the company to Compaq Computer in 1999.
Musk followed that success with the creation of the online bank, X.com, which was later merged into PayPal which eBay bought in 2002 for $1.5 billion.
Musk founded SpaceX, also known as Space Exploration Technologies Corp, in 2002. SpaceX is scheduled to launch two crewed flights for NASA in 2021, including one in the spring, and four cargo refueling missions over the next 15 months.
Due to lack of funding, Musk invested his own money for the development of SpaceX rockets. After setting ambitious goals for the model\’s ramp-up, Musk hit a rough spot in 2018 as Tesla Motors, where he became a major funder, missed targets while burning through cash.
In 2018, Musk jolted markets by announcing that he was considering taking Tesla private and said that he had “secured” financing for doing so. Musk quickly dropped the go-private effort, but became embroiled in a bitter dispute with the Securities and Exchange Commission (SEC). Musk has a baby with the most unusual name, which he shortens to “X.” Musk had said it’s pronounced “just like the letter X. AE is pronounced ‘ash’, as in Old English. A-12 is also pronounced just like it reads. Refers to the Archangel-12 CIA reconnaissance plane.” Credit:
Musk has a baby with the most unusual name, which he shortens to “X.” Musk had said it’s pronounced “just like the letter X. AE is pronounced ‘ash’, as in Old English. A-12 is also pronounced just like it reads.
Musk made an appearance in “The Simpsons” episode, “The Musk Who Fell to Earth”.
Musk publicly sparred with a British caver, who had mocked the Tesla CEO\’s offer of a mini-submarine to rescue young soccer players trapped in a cave in Thailand in the summer of
Musk publicly sparred with a British caver, who had mocked the Tesla CEO’s offer of a mini-submarine to rescue young soccer players trapped in a cave in Thailand in the summer of 2018.

Facts About Elon Musk: His Personal Life

Despite his energetic personality, the entrepreneur is not a spring chicken anymore. Elon Musk’s age has been contested a few times, but he turned 50 on June 28, 2021.
When asked what he would like for his birthday on Twitter, he responded in true Musk fashion with “Starship Super Heavy.” We presume that he wanted a successful launch for his next Starship.
Originally, Elon Musk is from Pretoria, South Africa. He has mixed heritage—his mother is Canadian and his father is South African.
Musk’s mother, Maye Musk, is a dietitian and model. Maye Musk’s net worth is currently $20 million. His father, Errol Musk, is an electromechanical engineer, property developer, and pilot.
During his young life, Elon Musk was often bullied.
After his parents divorced, Musk lived with his father.
Elon Musk developed and sold his first video game at 12.
Musk moved to Canada when he was 17 years old.
Musk has a Bachelor of Science degree in economics.
Musk lasted two days at Stanford University.
There are six children in the Musk family and his partner Grimes claims he is a good father.

His Business Ventures

Musk is the founder of PayPal, Tesla, SpaceX, Neuralink, and The Boring Company. The billionaire entrepreneur is mostly known for being the co-founder of Tesla and Paypal, and more recently—the founder of SpaceX.
Perhaps the least known of his pursuits is the infrastructure and tunnel construction business The Boring Company.
Musk sold Zip2 for $340 million and used the money to establish X.com.
Elon Musk was rich even before Tesla.
Elon Musk donated $30 million to Tesla Motors and joined the co-founding team.
Tesla released the Tesla Roadster in 2008 and it became the first car launched into space in 2018.
Elon Musk founded Space Exploration Technologies Corp., or SpaceX, with the goal of colonizing Mars one day. He also aims to make space transportation more affordable.
Despite Musk’s stellar aspirations with SpaceX, his initial rocket launching missions all crashed and burned. Falcon 1, which was the initial SpaceX rocket model, suffered three failed launches between 2006 and 2008.
Following these explosive failures, SpaceX and Tesla were on the brink of bankruptcy, as was Musk himself.

Also Read: Will the global chip shortage stretch into 2024 according to Intel’s CEO?

How does Army Corps of Engineers stop SpaceX’s plans for expansion?

Posted on April 9, 2022 by Admin

SpaceX can’t start expanding its launch facilities in Boca Chica, Texas anytime soon. According to documents obtained by various media sources, the Army Corps of Engineers has closed its review of the company’s application to build a new launchpad, landing pad and other related infrastructure in Boca Chica. SpaceX reportedly failed to provide the Army Corps with the environmental information it requested, and the permit process can’t continue without it.

Failure to validate Army Corps

The company was planning to build new infrastructure on 17 acres of land that includes wetlands and mudflats. As CNBC notes, the Army Corps has stewardship over wetland areas that serve as habitats for fish and wildlife in the country. It oversees any development over wetlands to ensure it doesn’t cause a significant impact on the endangered species living in them, as well as on drinking water for people in the area. It’s also in charge of examining whether it’s feasible for companies applying for a permit to move construction elsewhere.

In the letter it sent to the company, the Army Corps listed the information it’s seeking from SpaceX, including how its expansion would impact the wetlands exactly. It’s also asking for data on threatened or endangered species that may be significantly impacted by the construction, as well as the company’s current knowledge on the presence or absence of historic properties on the land. While the Army Corps suspended the company’s application, SpaceX can reinitiate the permit process if it can provide all the information being requested.

Separate Review of the Facility

The Federal Aviation Administration is also conducting a separate review of the facility to determine whether launching the Starship out of Boca Chica will cause safety issues or have a significant environmental impact on the area. SpaceX was supposed to hear from the FAA last year, but the agency has delayed its decision quite a few times since then: Its latest target date of completion is April 29th. Without permission from the FAA, it won’t be able to launch its massive spaceship from Boca Chica for its first orbital test flight that’s expected to take place in the next few months. Elon Musk previously said that if SpaceX fails to secure the permits the company needs in Texas, it will move Starship launches to Cape Canaveral in Florida.

Also Read: What do Russia’s Letters to NASA say about its withdrawal from the ISS?

Can Musk’s Social Media Company champion free speech?

Posted on March 28, 2022 by Admin

Elon Musk is planning to start his own social media company. His idea of Musk’s social media company might come as a vague plan. But according to various reports and Twitter, Musk said that he is giving some serious thought to creating a new social media platform.

Musk’s social media company

But, like every time, Musk’s social media company idea receives multiple criticisms on Twitter, where he claimed the platform doesn’t allow for free speech. “Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” Musk tweeted Friday. “What should be done?” He further asked if a new platform is needed.

A 2018 agreement with the Securities and Exchange Commission requires that Musk gain pre-approval from other Tesla executives prior to posting tweets about the company. After Musk asked his Twitter followers in November if he should sell 10% of his stake in Tesla, the electric vehicle company received a subpoena from the SEC because the poll question triggered a stock selloff — which the CEO has called “harassment.”

Championing Free Speech

Earlier this week, in response to Musk challenging the subpoena, an SEC regulator urged a federal judge to allow his tweets to continue to be scrutinized. “Musk’s motion to quash is procedurally defective and substantively meritless,” the SEC said. If he proceeds with launching a platform of his own, Musk would join a growing list of public figures and technology companies who are ditching established social media networks and creating their own platforms, often championing “free speech.”

Former President Donald Trump, who has been banned from Twitter since January 2021, notably launched Truth Social in February as part of the Trump Media and Technology Group. Rumble, Parler, Gettr and other services have also formed as alternatives to mainstream social networks. Parler was removed from Apple’s app store amid allegations that January 6 rioters used the platform to incite violence. It was reinstated in April after improvements were made by the company to better detect and moderate hate speech.

Also Read: 6 Upcoming Business Trends to follow in 2022

Tag: Elon Musk