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Twitter is a “bin fire”: Australia’s eSafety commission

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11 months ago

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The online platform faces fines of up to AU$700K per day if it does not adequately address hate speech

There has been a marked rise of hate speech on Twitter since billionaire Elon Musk bought the platform in October 2022.

This had led to advertisers fleeing the platform, and Australia’s eSafety commission to threaten the site with AU$700,000 in fines per day if it does not clean up its content.

The commission went so far as to call Twitter a “bin fire”, as it received more complaints about online hate on Twitter in the past 12 months than any other platform.

Reports escalated since Elon Musk’s takeover of the company.

A self-described “free-speech absolutist”, Musk vowed to put an end to what he saw as cancel culture that was rampant on the platform.

As part of this, he reinstated many accounts that had been banned by previous management for violating the platform’s terms of use.

Most famously that of former U.S. President Donald Trump, who was banned from Twitter for his involvement in the January 6 riots in Washington DC.

Musk also slashed jobs as part of a cost cutting plan that saw many staff in content moderation, among other departments, made redundant.

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Why the meme-stock frenzy is unlikely to repeat

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5 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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5 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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6 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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