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

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1 year 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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ASX positioned for strong start after positive stock rebound

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1 day ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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2 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Treasury Secretary believes the U.S. are on track for a “safe landing”

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2 days ago

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September 9, 2024

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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