Tag: Elon Musk

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Elon Musk decides not to join Twitter’s board of directors

After purchasing a majority stake in Twitter and becoming the platform’s largest shareholder, Tesla CEO Elon Musk was set to join Twitter’s board of directors as a ‘class II’ director until 2024, but now, Musk has stepped back from the new role.

Revealed in a tweet from Twitter CEO Parag Agarwal, Musk decided not to join Twitter’s board the same morning when it was initially announced that he will be taking a seat at the round table.

“We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance,” said Agrawal in his Tweet. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best. We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input.”

Since news first came out about Musk purchasing a major stake in the social media company, the Tesla CEO has been Tweeting about ways to make the platform better, including a now-deleted Tweet about adding a new profile checkmark for those who pay for Twitter Blue and a Tweet about converting the company’s San Francisco office to a homeless shelter. The majority stockholder also polled his followers about the addition of an edit button, only for Twitter to announce the very next day that it is adding the long-requested feature while clarifying that it has been working on adding an edit button since last year.

Image credit: @elonmusk

Source: @paraga

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Mobile Syrup

Tesla officially opens Austin, Texas-based Gigafactory

Tesla officially opened its Austin, Texas-based Gigafactory, where the company will likely begin production of its long-delayed Cybertruck.

CEO Elon Musk celebrated the opening with a ‘Cyber Rodeo’ event, in which Musk pranced around in a cowboy hat. Tesla invited some 15,000 people to listen to live music, eat food, and as The Verge describes it, “pay homage” to Musk and Tesla.

Musk described the opening of the factory as “entering a new phase of Tesla’s future.”

At the event, Musk showed off a new version of the Cybertruck that will go into production at the Gigafactory, as well as a new Roadster vehicle slated to start production next year. Moreover, Musk teased a “futuristic” robotaxi but didn’t share any other details.

The Gigafactory is Tesla’s fourth in the U.S., joining the vehicle factory in Fremont, California, a battery factory in Sparks, Nevada, and a solar factory in Buffalo, New York. Tesla also has a vehicle factory outside Shanghai, China, and recently opened a factory near Berlin, Germany.

Last year, Tesla Canada revealed it would locate a manufacturing facility in Markham, Ontario, to produce manufacturing equipment for use at the company’s Gigafactories.

Tesla’s Texas factory opened less than two years after Musk decided Austin would be the home of the company’s Gigafactory. Tesla plans to hire up to 5,000 workers at an average salary of $47,147 USD (roughly $59,378 CAD), with entry-level positions starting at $35,000 (about $44,080 CAD).

The Gigafactory is expected to help Tesla meet its goals of building 1.5 million vehicles in 2022, and will likely be the site where the company builds its Cybertruck starting in 2023.

It’s also worth noting the company secured millions in tax breaks from local governments, with Travis County approving a deal worth at least $14.7 million USD (about $18.51 million CAD).

Tesla’s Austin Gigafactory has also faced resistance. Last week, local conservationists tried to block Tesla’s Cyber Rodeo celebration. The company has also faced broad criticism over labour practices and workplace safety, much of it focused on the Fremont factory. California’s civil rights agency sued Tesla, saying the company’s Fremont plant was “segregated to the lowest levels.”

Header image credit: Tesla Cyber Rodeo video screenshot

Via: The Verge

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Mobile Syrup

Twitter confirms it’s working on edit button, Elon Musk will likely take credit

Twitter has confirmed that it’s officially working on a heavily-requested feature: an edit button.

The social network made the announcement through its official @TwitterComms account.

Interestingly, this comes shortly after Elon Musk — who recently purchased a stake in Twitter and joined the company’s board — publicly asked users if they wanted an edit button.

However, Twitter noted in its tweet that the idea for the edit button didn’t come from a poll, in a clear reference to Musk. Instead, the company says it’s been working on the edit button since last year.

The feature will begin testing within Twitter Blue Labs in the “coming months to learn what works, what doesn’t and what’s possible,” Twitter says.

Twitter users have long asked for an edit button, as the only way to correct any mistakes otherwise is to fully delete and tweet again.

However, people have warned that this could be used maliciously, especially in an era of misinformation. For example, someone could tweet something innocuous, receive many likes and retweets and then edit the tweet to include something harmful. To that point, users have suggested an “edit history” section in the vein of Facebook so that a public record of previous versions of a given tweet can be accessed.

It’s unclear exactly what form the Twitter edit button will take, but the company’s comment about needing to “learn what works, what doesn’t and what’s possible” at least seems to acknowledge the importance of getting this right.

Source: @TwitterComms

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Mobile Syrup

Elon Musk joins Twitter’s board of directors until 2024

After buying a 9.2 percent stake in Twitter and becoming the platform’s largest shareholder, Tesla CEO and terminally online, middle-aged man Elon Musk will join Twitter’s board of directors.

According to a Securities and Exchange Commission (SEC) filing spotted by The Verge, Twitter appointed Musk as a ‘class II’ director until 2024. The Verge notes that type of position can be used as an anti-takeover measure.

“For so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9% of the Company’s common stock outstanding at such time, including for these purposes economic exposure through derivative securities, swaps, or hedging transactions,” reads the filing.

Twitter CEO Parag Agrawal took to the platform to welcome Musk to the board, calling him “both a passionate believer and intense critic of the service.”

In a reply, Musk wrote that he was excited to work with the board and “make significant improvements to Twitter in coming months.”

It’s worth noting that Musk has previously accused Twitter of “failing to adhere to free speech principles” while contemplating creating a new platform. Given Musk’s failure to understand what free speech actually is, I have concerns about these incoming “improvements.”

That said, in yet another attempt to prove he’s cool, Musk launched a Twitter poll asking if people want an edit button with the seemingly deliberately misspelled options of “yse” or “on.”

Plus, Agrawal jumped on, noting that the “consequences of this poll will be important,” suggesting the company may actually add an edit button.

So, maybe we’ll get something good out of Musk joining the Twitter board.

Source: Twitter, SEC Via: The Verge

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Mobile Syrup

Tesla delivers 310,000 vehicles in Q1 2022 amid ‘exceptionally difficult’ quarter

Tesla delivered roughly 310,000 vehicles in the first quarter of 2022, an increase of approximately 20,000 compared to the last quarter in 2021 when the company delivered 308,000 EVs.

As usual, the company sold way more Model Y and Model 3 vehicles (295,324) compared to its more expensive Model S and Model X trims (14,724).

Musk tweeted that the quarter was “exceptionally difficult” due to supply chain issues and the lockdowns at the Shanghai Tesla factory.

That said, the company is still growing quarter over quarter. It also opened a new factory in Berlin recently and has plans to open another in Austin, Texas. These should help increase production and deliveries even more.

Source: @ElonMusk Via: The Verge  

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Mobile Syrup

After complaining about free speech on Twitter, Elon Musk buys 9.2 percent stake in the social media platform

Elon Musk now owns a stake in Twitter.

The SpaceX CEO, freedom convoy supporter, and frequent bad meme tweeter purchased 9.2 percent of the social media platform on March 14th.

News of the purchase was released Monday morning through a Securities and Exchange Commission 13G filing.

This led to Twitter’s shares increasing more than 21 percent. According to CNBC, Musk’s stake is worth $2.89 billion USD (roughly $3.6 billion CAD), based on the social platform’s closing numbers Friday.

He now owns almost 73.5 million Twitter shares.

A little over a week ago, Musk launched a poll asking users if Twitter “rigorously adheres” to the principle that “free speech is essential to a functioning democracy.”

A day later, he asked his 80.2 million followers if “a new platform is needed?” Hours later, he tweeted that he was “giving serious thought” to building a new social media platform.

Musk has previously gotten into trouble for his tweets.

In 2018, he tweeted that funds were in place to take Tesla private if shares reached $420 USD (about $523 CAD) each. No such deal was in the works.

As a result, Tesla lawyers have to approve his tweets. Musk is currently trying to get the agreement thrown out and is (questionably?) using quotes from Eminem to get his point across. 

Image credit: Dan Taylor/Heisenberg Media 

Source: CNBC

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Entertainment News

Elon Musk invests heavily in Twitter

13 August 2021, Brandenburg, Grünheide: Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event. The first vehicles are scheduled to roll off the production line in Grünheide near Berlin from the end of 2021. The US company plans to build around 500,000 units of the compact Model 3 and Model Y series here each year. Photo: Patrick Pleul/dpa-Zentralbild/ZB Where: Grünheide, Brandenburg, Germany When: 13 Aug 2021 Credit: Patrick Pleul/DPA/Cover Images **ONLY AVAILABLE FOR PUBLICATION IN THE UK AND USA**

Elon Musk, boss of Tesla and SpaceX among others, has just taken a significant stake in the social network Twitter.

The richest man on the planet is buying 9.2 percent of Twitter Inc. and thus becomes the platform’s largest shareholder.

The announcement this morning of the deal in a regulatory filing sent Twitter’s stock soaring. Elon Musk’s stakein Twitteris worthabout $2.89 billion (US).

Elon Musk is a regular Twitter user and is followed on the social network by over 80 million people.

Chosen as the 2021 Person of the Year by the prestigious Time magazine, Elon Musk has been investing for years in numerous companies or various original projects. In addition to electric vehicles with Tesla, or the conquest of space with SpaceX, the billionaire has embarked on the diversification of urban transport or in the neurotechnologies for example.

Elon Musk’s arrival at Twitter could have major implications. The network is under pressure to accelerate the creation of new products.

The billionaire has often been critical of Twitter, which may be why the markets have welcomed his investment.

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Mobile Syrup

Elon Musk quotes Eminem in legal battle over his Twitter account

In the middle-aged man’s latest example of desperately trying to seem younger and more hip, Tesla CEO Elon Musk has cited a song from Eminem in court.

The businessman is currently calling on the U.S.’ Securities and Exchange Commission (SEC) to throw out a 2018 agreement requiring Tesla lawyers to vet his tweets. In a court filing, Musk quoted rapper Eminem’s 2002 hit “Without Me” and replaced “FCC” with “SEC.”

“The [SEC] won’t let me be or let me be me so let me see / They tried to shut me down,” said Musk via his lawyers.

For context, Eminem originally said that following a Colorado radio station being fined for playing an edited version of his 2000 song “The Real Slim Shady,” which it argued featured “indecent language.” The fee was ultimately rescinded, with the FCC noting that it “did not violate the applicable statute or our indecency rule, and that no sanction is warranted.”

Now, Musk’s lawyers are making the same case for Musk, arguing that “the First Amendment requires that agencies proceed with caution when constitutional rights are at stake.” On Twitter, Musk added in a tongue-in-cheek tweet that he and Eminem are “basically identical [with] a few differences maybe.”

The agreement to have Musk’s tweets vetted came about in 2018 after the Tesla CEO tweeted that he was “considering taking Tesla private at $420” per share. The SEC accused Musk of misleading investors, and Musk eventually signed an agreement to allow his lawyers to approve any tweets containing information that could affect the company’s stock price.

While it remains to be seen what will come out of this legal dispute, Musk is already looking beyond Twitter. After questioning whether Twitter adheres to the principles of free speech, Musk said he’s “giving serious thought” to building a new social platform.

Source: SEC Via: The Verge

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Mobile Syrup

Tesla Full-Self Driving Beta lands in Canada

After months of statements from Elon Musk saying that the Full-Self Driving (FSD) Beta for Teslas will soon release in Canada, the software update finally dropped on Saturday, March 26th, as reported by teslanorth.

Canadian FSD Beta tester Gary (@akidesir) was able to get his hands on the public release of software version 2022.4.5.20 and FSD beta 10.11.1, and subsequently uploaded a video on his YouTube channel, showing the Beta software in action on the roads of Toronto. Canadians like Gary who have a safety score of 99-100 are some of the few people to get FSD Beta outside the United States.

It’s worth noting that the release doesn’t mean all Tesla users in Canada now have FSD Beta. As mentioned, only those with a safety score of 99 or 100 on the Tesla Safety Score app and those that pay for the add-on will have the update available to download. The current cost for the package in Canada is $10,600.

Image credit: akide

Source: teslanorth

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Mobile Syrup

Musk is going the Trump route, wants to build his own social media platform

After automotive, internet, and space exploration, Tesla CEO Elon Musk is now “giving serious thought” to venturing into the social media business.

It all started with Musk criticizing Twitter, stating that the platform doesn’t allow for free speech, and a subsequent poll where he asked whether people “believe Twitter rigorously adheres to this principle?”

A whopping 70.4 percent voted that they don’t believe Twitter provides a platform where users can express themselves freely. I wouldn’t take that percentage at face value, as it’s likely an inflated figure, owing to Musk fanboys.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?” said Musk, which was closely followed by another Tweet with the world’s richest person asking, “Is a new platform needed?”

Of course, free speech is essential to a functioning democracy, but Twitter — a private company — doesn’t have any obligation to adhere to said principles, similar to how Musk’s private company Tesla doesn’t adhere to free speech principles, either. The company recently fired an employee for uploading videos to YouTube showing flaws in the company’s Full-Self Driving Beta.

Regardless, Musk says he’s “giving serious thought” to the idea of building his own social media platform. And while his Twitter fingers are always active, I would take the Tweet with a grain of salt. Execution of such platforms is easier said than done. Take former U.S. president Donald Trump’s ‘Truth Social’ or Twitter competitors Parler and Gettr, for example. Those are all platforms that push for free speech, but haven’t seen the level of success big players like Meta and Twitter have.

Source: @elonmusk