Економіка

Elon Musk had an eventful year, capping 2022 with a $44 billion acquisition of Twitter, a takeover that almost didn’t happen. The controversial CEO has brought changes and disruptions, layoffs and resignations that put Twitter’s fate into question. VOA’s Tina Trinh has more.
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More than half of 17.5 million users who responded to a poll that asked whether billionaire Elon Musk should step down as head of Twitter voted yes when the poll closed on Monday. 

There was no immediate announcement from Twitter, or Musk, about whether that would happen, though he said that he would abide by the results. 

Musk has clashed with some users on multiple fronts and on Sunday, he asked Twitter users to decide if he should stay in charge of the social media platform after acknowledging he made a mistake in launching new speech restrictions that banned mentions of rival social media websites. 

In yet another significant policy change, Twitter had announced that users will no longer be able to link to Facebook, Instagram, Mastodon and other platforms the company described as “prohibited.” 

But that decision generated so much immediate criticism, including from past defenders of Twitter’s new billionaire owner, that Musk promised not to make any more major policy changes without an online survey of users. 

The action to block competitors was Musk’s latest attempt to crack down on certain speech after he shut down a Twitter account last week that was tracking the flights of his private jet. 

The banned platforms included mainstream websites such as Facebook and Instagram, and upstart rivals Mastodon, Tribel, Nostr, Post and former President Donald Trump’s Truth Social. Twitter gave no explanation for why the blacklist included those seven websites but not others such as Parler, TikTok or LinkedIn. 

Twitter had said it would at least temporarily suspend accounts that include the banned websites in their profile — a practice so widespread it would have been difficult to enforce the restrictions on Twitter’s millions of users around the world. Not only links but attempts to bypass the ban by spelling out “instagram dot com” could have led to a suspension, the company said. 

A test case was the prominent venture capitalist Paul Graham, who in the past has praised Musk but on Sunday told his 1.5 million Twitter followers that this was the “last straw” and to find him on Mastodon. His Twitter account was promptly suspended, and soon after restored as Musk promised to reverse the policy implemented just hours earlier. 

Musk said Twitter will still suspend some accounts according to the policy but “only when that account’s (asterisk)primary(asterisk) purpose is promotion of competitors.” 

Twitter previously took action to block links to Mastodon after its main Twitter account tweeted about the @ElonJet controversy last week. Mastodon has grown rapidly in recent weeks as an alternative for Twitter users who are unhappy with Musk’s overhaul of Twitter since he bought the company for $44 billion in late October and began restoring accounts that ran afoul of the previous Twitter leadership’s rules against hateful conduct and other harms. 

Musk permanently banned the @ElonJet account on Wednesday, then changed Twitter’s rules to prohibit the sharing of another person’s current location without their consent. He then took aim at journalists who were writing about the jet-tracking account, which can still be found on other social media sites, alleging that they were broadcasting “basically assassination coordinates.” 

He used that to justify Twitter’s moves last week to suspend the accounts of numerous journalists who cover the social media platform and Musk, among them reporters working for The New York Times, Washington Post, CNN, Voice of America and other publications. Many of those accounts were restored following an online poll by Musk. 

Then, over the weekend, The Washington Post’s Taylor Lorenz became the latest journalist to be temporarily banned. She said she was suspended after posting a message on Twitter tagging Musk and requesting an interview. 

Sally Buzbee, The Washington Post’s executive editor, called it an “arbitrary suspension of another Post journalist” that further undermined Musk’s promise to run Twitter as a platform dedicated to free speech. 

“Again, the suspension occurred with no warning, process or explanation — this time as our reporter merely sought comment from Musk for a story,” Buzbee said. By midday Sunday, Lorenz’s account was restored, as was the tweet she thought had triggered her suspension. 

Musk’s promise to let users decide his future role at Twitter through an unscientific online survey appeared to come out of nowhere Sunday, though he had also promised in November that a reorganization was happening soon. 

Musk was questioned in court on Nov. 16 about how he splits his time among Tesla and his other companies, including SpaceX and Twitter. Musk had to testify in Delaware’s Court of Chancery over a shareholder’s challenge to Musk’s potentially $55 billion compensation plan as CEO of the electric car company. 

Musk said he never intended to be CEO of Tesla, and that he didn’t want to be chief executive of any other companies either, preferring to see himself as an engineer instead. Musk also said he expected an organizational restructuring of Twitter to be completed in the next week or so. It’s been more than a month since he said that. 

In public banter with Twitter followers Sunday, Musk expressed pessimism about the prospects for a new CEO, saying that person “must like pain a lot” to run a company that “has been in the fast lane to bankruptcy.” 

“No one wants the job who can actually keep Twitter alive. There is no successor,” Musk tweeted. 
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Twitter users will no longer be able to link to certain rival social media websites, including what the company described Sunday as “prohibited platforms” Facebook, Instagram and Mastodon.

It’s the latest move by Twitter’s new owner Elon Musk to crack down on certain speech after he shut down a Twitter account last week that was tracking the flights of his private jet.

“We know that many of our users may be active on other social media platforms; however, going forward, Twitter will no longer allow free promotion of specific social media platforms on Twitter,” the company said in a statement.

The banned platforms include mainstream websites such as Facebook and Instagram, and upstart rivals Mastodon, Tribel, Nostr, Post and former President Donald Trump’s Truth Social. Twitter gave no explanation for why the blacklist included those seven websites but not others such as Parler, TikTok or LinkedIn.

Twitter is also banning promotions of third-party social media link aggregators such as Linktree, which some people use to show where they can be found on different websites.

Twitter previously took action against one of the rivals, Mastodon, after its main Twitter account tweeted about the @ElonJet controversy last week. Mastodon has grown rapidly in recent weeks as an alternative for Twitter users who are unhappy with Musk’s overhaul of Twitter since he bought the company for $44 billion in late October and began restoring accounts that ran afoul of the previous Twitter leadership’s rules against hateful conduct and other harms.

Some Twitter users have included links to their new Mastodon profile and encouraged followers to find them there. That’s now banned on Twitter, as are attempts to bypass restrictions such as by spelling out “instagram dot com” and a username instead of a direct website link.

Instagram and Facebook parent company Meta didn’t immediately return a request for comment Sunday.

Musk permanently banned the @ElonJet account on Wednesday, then changed Twitter’s rules to prohibit the sharing of another person’s current location without their consent. He then took aim at journalists who were writing about the jet-tracking account, which can still be found on other sites including Mastodon, Facebook, Instagram and Truth Social, alleging that they were broadcasting “basically assassination coordinates.”

Twitter last week suspended the accounts of numerous journalists who cover the social media platform and Musk, among them reporters working for The New York Times, Washington Post, CNN, Voice of America and other publications. Many of those accounts were restored following an online poll by Musk.

Then, over the weekend, The Washington Post’s Taylor Lorenz became the latest journalist to be temporarily banned from Twitter.

Lorenz said she and another Post technology reporter were researching an article concerning Musk. She had tried to communicate with the billionaire but the attempts went unanswered, so she tried to contact him Saturday by posting a message on Twitter tagging Musk and requesting an interview.

The specific topic was not disclosed in the tweet, although it was in response to Musk tweeting about an alleged incident earlier in the week involving a “violent stalker” in Southern California and Musk’s complaints about journalists allegedly revealing his family’s location by referencing the jet-tracker account.

When she went back later Saturday to check whether there was a response on Twitter, Lorenz was met with a notification that her account was “permanently suspended.”

“I won’t say I didn’t anticipate it,” Lorenz said in a phone interview early Sunday with The Associated Press. She said she wasn’t given a specific reason for the ban.

Sally Buzbee, The Washington Post’s executive editor, said in a written statement Sunday that the “arbitrary suspension of another Post journalist further undermines Elon Musk’s claim that he intends to run Twitter as a platform dedicated to free speech.

“Again, the suspension occurred with no warning, process or explanation — this time as our reporter merely sought comment from Musk for a story,” Buzbee said. “Post journalists should be reinstated immediately, without arbitrary conditions.”

By midday Sunday, Lorenz’s account was restored, as was the tweet she thought had triggered her suspension.
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Taiwan’s government said on Saturday it would fine Foxconn, the world’s largest contract electronics maker, for an unauthorized investment in a Chinese chip maker even after the Taiwanese firm said it would be selling the stake.

Taiwan has turned a wary eye on China’s ambition to boost its semiconductor industry and is tightening legislation to prevent what it says is China stealing its chip technology.

Foxconn, a major Apple Inc. supplier and iPhone maker, disclosed in July it was a shareholder of embattled Chinese chip conglomerate Tsinghua Unigroup.

Late Friday, Foxconn said in a filing to the Taipei stock exchange its subsidiary in China had agreed to sell its entire equity stake in Tsinghua Unigroup.

Taiwan’s Economy Ministry said in response that its investment commission, which has to approve all foreign investments, will ask Foxconn on Monday for a “complete explanation” about the investment. 

“As for the fact that the investment was not declared beforehand, the amount will still be calculated in accordance with the formula and the penalty will be imposed in accordance with the law,” it said, without giving details. 

Foxconn did not immediately respond to a request for comment. 

People familiar with the matter have previously told Reuters that Foxconn did not seek approval from the Taiwan government before the investment was made and authorities believe it violated a law governing self-ruled Taiwan’s relations with China, which claims the island as its own. 

In a statement on Saturday before the economy ministry’s, Foxconn said as the year-end approached the original investment had “remained unfinalized.” 

Foxconn said that Xingwei, 99% controlled by its China-listed unit Foxconn Industrial Internet Co Ltd., had agreed to sell its holdings for at least $772 million to a Chinese company called Yantai Haixiu. 

Xingwei controls a 48.9% stake in a different entity that holds a 20% stake in the vehicle owning all of Unigroup. 

“In order to avoid uncertainties from further delays or impact to investment planning and the flexible deployment of capital, the Xingwei Fund will transfer its entire holding in Shengyue Guangzhou to Yantai Haixiu,” it said. “After the transfer is completed, FII will no longer indirectly hold any equity in Tsinghua Unigroup.” 

Tsinghua Unigroup did not respond to a request for comment. 

Taiwanese law states the government can prohibit investment in China “based on the consideration of national security and industry development.” Violators of the law could be fined repeatedly until corrections are made. 

Foxconn, formally called Hon Hai Precision Industry Co. Ltd., is keen to make auto chips, in particular, as it expands into the electric vehicle market. 

The company has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics. 

Taipei prohibits companies from building their most advanced foundries in China to ensure they do not site their best technology offshore. 

 
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A prominent video game creator who helped lead Facebook’s expansion into virtual reality has resigned from the social networking service’s corporate parent after becoming disillusioned with the way the technology is being managed.

John Carmack cut his ties with Meta Platforms, a holding company created last year by Facebook founder Mark Zuckerberg, in a Friday letter that vented his frustration as he stepped down as an executive consultant in virtual reality.

“There is no way to sugar coat this; I think our organization is operating at half the effectiveness that would make me happy,” Carmack wrote in the letter, which he shared on Facebook. “”Some may scoff and contend we are doing just fine, but others will laugh and say, ‘Half? Ha! I’m at quarter efficiency!'”

In response to an inquiry about Carmack’s resignation and remarks, Meta on Saturday directed The Associated Press to a tweet from its chief technology officer and head of its reality labs, Andrew Bosworth. “”It is impossible to overstate the impact you’ve had on our work and the industry as a whole,” Bosworth wrote in his grateful tweet addressed to Carmack.

Carmack’s departure comes at a time that Zuckerberg, Meta’s CEO, has been battling widespread perceptions that he has been wasting billions of dollars trying to establish the Menlo Park, California, company in the “metaverse” — an artificial world filled with avatars of real people.

While the metaverse losses have been mounting, Facebook and affiliated services such as Instagram have been suffering a downturn in advertising that brings in most of the company’s revenue. The decline has been brought on by a combination of recession fears, tougher competition from other social networking services such as TikTok and privacy controls on Apple’s iPhone that have made it tougher to track people’s interests to help sell ads.

Those challenges have caused Meta’s stock to lose nearly two-thirds of its value so far this year, wiping out about $575 billion in shareholder wealth.

Although Carmack had only been working part time at Meta, the dismay that he expressed seems likely to amplify the questions looming over Zuckerberg’s efforts to become as dominant in virtual reality as Facebook has been in social networking since he started the service nearly 20 years ago while attending Harvard University.

Zuckerberg began to explore virtual reality in earnest in 2014 with Facebook’s $2 billion purchase of headset maker Oculus. At the time, Carmack was Oculus’ chief technology officer and then joined Facebook after the deal closed. Before joining Oculus, Carmack was best known as the co-creator of the video game Doom.

Federal regulators are now trying to limit Zuckerberg’s sway in virtual reality by preventing his attempt to buy Within Unlimited, which makes a fitness app designed for the metaverse.

Carmack testified earlier this week in a trial pitting the Federal Trade Commission against Meta over the fate of the deal. Zuckerberg is expected to testify at some point in the trial, which is scheduled to resume Monday in San Jose, California.

Despite his frustration with the way things have been going at Meta, Carmack praised its latest virtual reality headset, the Quest 2, in his resignation letter. He described the headset as “almost exactly what I wanted to see from the beginning” of his Oculus tenure.

“It is successful, and successful products make the world a better place,” Carmack said of the Quest 2. “It all could have happened a bit faster and been going better if different decisions had been made, but we built something pretty close to The Right Thing.”

But Carmack ended his letter with this entreaty: “Maybe it actually is possible to get there by just plowing ahead with current practices, but there is plenty of room for improvement. Make better decisions and fill your products with ‘Give a Damn!'” 
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