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Musk says Twitter takeover will not go ahead without clarity on spam accounts

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Elon Musk’s Twitter takeover has briefly paused with the billionaire wanting to know how many fake BOT accounts are on the platform

Musk says his bid to buy Twitter was “temporarily on hold” pending details about how many spam and fake accounts are on the platform.

Managing Direction and analyst at Wedbush Securities, Dan Ives says he thinks Musk may have gotten cold feet or is trying to push the price down.

He says that bots and fake accounts on Twitter have played a factor.

“Twitter’s claim is that there’s less than five per cent. Musk said it could be as much as 20 per cent… I think this continues to be a bit of a scapegoat, you know, for him to try to get at a deal,” Ives says.

Over the weekend, he tweeted that Twitter’s legal team called to complain that he had violated their non-disclosure agreement. Twitter has declined to comment

Musk set to negotiate a lower Twitter purchase price

Ives says Musk is attempting to lower the price of the original billion dollar deal.

“Now the question is what is he ultimately offering and negotiating? And then what will the Twitter board do?”

Musk’s involvement with Twitter plays a significant role in how the company performs.

“Musk has a billion dollar breakup fee pretty small relative to the deal. If he walks, you could see Twitter stock go down in a few hours.”

“He’s hugely critical to the company,” he says.

However, Ives does believe that Musk ultimately wants to get the deal done.

“I think ultimately, Musk comes back somewhere in the mid 40 billions…and then ultimately, this becomes a back and forth between the Twitter board.”

Alternaviely, Ives suggests that if Twitter do not comprimise, Musk may walk from the Twitter deal all together.

Over the recent weeks Twitter stocks have been hit compared to other stocks.
“I’d it is historic in terms of what I’ve seen going on…I think quality tech is oversold here and markets are already pricing in a modest recession.”

Amanda Gunn contributed to this post.

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Tesla is slashing prices to stay competitive

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Tesla cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.

Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.
Tesla North America also said in a post on X said it would end its referral program benefits in all markets after April 30.

Referral program allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Tesla is to report first-quarter earnings on Tuesday.

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TikTok launches Instagram competitor ‘Notes’

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TikTok Notes has launched in Australia & Canada as a formidable competitor to Instagram, offering a unique platform for content creation, text and sharing.

“TikTok Notes is a lifestyle platform that offers informative photo-text content about people’s lives, where you can see individuals sharing their travel tips and daily recipes,” reads the official App Store description.

Take note

The app allows users to create content by combining short videos with text-based notes, closely resembling that of Meta’s Instagram.

Whether it’s sharing a quick tutorial, a personal anecdote, or a thought-provoking message, TikTok Notes is positioned to be a formidable social media platform.

Currently, the app is only available for download and “limited testing” in Australia and Canada.

As it gains momentum, the platform is poised to contest Instagram’s established reign in the social media landscape.

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Ramifications of a TikTok ban to impact Open Internet

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The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

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