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Elon Musk's playbook for DOGE has a precedent: X
Economic Times
·
7m ago
Medial
Elon Musk, the tech billionaire and owner of X, has turned to the platform to publicize his plans as he helps lead the new Department of Government Efficiency. Musk has targeted federal employees focused on climate issues and suggested they should lose their jobs. He has also criticized the Securities and Exchange Commission, proposed a return-to-office mandate for government workers, and called for firing agency leaders. Musk aims to reduce the federal budget by $2 trillion and is using X to rally support and draw in investors, similar to his strategy during the acquisition of X in 2022.
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How Australia struggled to get Elon Musk’s X to remove a terrorist attack video
Livemint
·
1y ago
Medial
Australian regulators have demanded that Elon Musk's X remove videos of the stabbing of a religious leader. While X says it has geoblocked the content for users in Australia, regulators argue that the video can still be accessed using virtual private networks (VPNs), which masks a user's true location. The lawsuit filed by the Australian eSafety Commissioner accuses X of not fully removing the video and highlights the difficulties regulators face in getting social media platforms to remove sensitive content. Musk and X argue that Australia's request to remove the video globally sets a dangerous precedent for internet control.
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Australian court upholds order for Musk's X to pay $418,000 fine over anti-child abuse probe
Economic Times
·
9m ago
Medial
- Australian court upholds order for Elon Musk's X to pay a fine of A$610,500 for failure to cooperate with a regulator's request - X challenged the fine but the Federal Court of Australia ruled it was obligated to respond to a notice from the eSafety Commissioner - X argued it was not bound to respond because it was folded into a new Musk-controlled corporate entity - Accepting X Corp's argument could have set a concerning precedent for foreign companies avoiding regulatory obligations in Australia - eSafety has begun civil proceedings against X due to noncompliance - This is not the first conflict between Musk and the Australian internet safety regulator. Earlier this year, eSafety ordered X to remove posts, prompting a court battle.
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Australia fines Elon Musk's X platform $386,000 over anti-child abuse gaps
Economic Times
·
1y ago
Medial
Elon Musk's social media platform X has been fined A$610,500 ($386,000) by an Australian regulator for failing to cooperate with a probe into anti-child abuse practices. The regulator claimed that X did not respond to questions about its response time to reports of child abuse material and its methods of detection. The fine comes as X sees a decline in revenue due to complaints about its content moderation and the reinstatement of banned accounts. X closed its Australian office after Elon Musk's buyout and has not yet responded to the fine.
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Musk's X will not be designated as gatekeeper under landmark EU tech rules
Economic Times
·
9m ago
Medial
- Elon Musk's X will not be designated as a gatekeeper under EU's Digital Markets Act - The decision comes after an investigation by the European Commission - X would have been subject to extensive obligations if designated as a gatekeeper - The European Commission will announce its decision next week - The outcome is a relief for X and Elon Musk
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Walmart joins ranks of advertisers pulling away from X
Livemint
·
1y ago
Medial
Walmart has joined the list of brands distancing themselves from Elon Musk's social media platform X (formerly Twitter) by halting advertising on the platform. The decision comes as other companies, including Walt Disney and Warner Bros. Discovery, have also stopped advertising efforts on X due to Musk's recent controversial actions. Ad industry experts predict more advertisers will leave the platform, potentially causing turmoil for X.
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Musk kicks off xAI, Neuralink fundraises after DOGE farewell
Economic Times
·
1m ago
Medial
Elon Musk is shifting focus from politics back to his businesses, raising funds for ventures like xAI and Neuralink. xAI aims to gather $5 billion with debt offerings to expand in the competitive AI sector. Neuralink has secured $650 million, focusing on brain implant technologies for people with disabilities. Furthermore, Musk’s X platform introduces XChat, a direct message service with enhanced features. Meanwhile, Tesla shows apprehension towards manufacturing in India despite initiating some presence.
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Elon Musk's X receives money transmitter license in Utah
Economic Times
·
1y ago
Medial
Elon Musk's company, X, has received a money transmitter license in Utah. This license allows X to legally transmit money and operate in the state. This development further indicates X's expanding presence in the financial technology sector.
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Elon Musk's X lowers cost for gold checkmark 10 months after trying to get businesses to pay $12K a year
Business Insider
·
1y ago
Medial
Elon Musk's social media platform, X (formerly Twitter), is now offering businesses a discounted verification plan for $200 a month. Last year, the platform had announced that businesses would have to pay $1,000 monthly for a gold checkmark. This move suggests that the previous pricing was not successful in attracting businesses. It comes amidst concerns over the financial health of X, as its estimated valuation has dropped significantly since Musk's acquisition.
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Who runs DOGE? Not Elon Musk, says White House
Business Today
·
4m ago
Medial
Elon Musk serves as a senior adviser to the president as part of the Department of Government Efficiency (DOGE) but has no formal authority to make decisions. Appointed by Trump alongside Vivek Ramaswamy, Musk's role is primarily advisory, similar to Anita Dunn’s position with President Biden. DOGE focuses on regulating government spending, but a federal judge has restricted its access to US Treasury payment systems. Investigations into various agencies continue under DOGE’s oversight.
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EU asked to say how much funding given to Elon Musk's firms
Economic Times
·
4m ago
Medial
The EU has been questioned about its funding to Elon Musk's companies amid rising tensions with the US. German Green EU lawmaker Daniel Freund requested the European Commission to disclose detailed EU funding, including grants and subsidies, for Musk's businesses over the past five years. Freund cited concerns over Musk's companies potentially weakening the EU. Elon Musk's social media platform, X, is under EU scrutiny, while Musk accuses the EU of censorship regarding content moderation rules.
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