Google’s Project Loon, a plan to use balloons to beam broadband Internet to unserved areas, was shut down in 2021 after eight years, but Loon’s core technologies have propelled a spinout, Aalyria, which is developing advanced networking and laser communications that far exceed anything available today, extending connectivity where there is no infrastructure “at an exponentially greater scale and speed,” according to the company. Aalyria’s first commercial client is the Defense Innovation Unit (DIU), a division of the U.S. Department of Defense that awarded an $8 million contract to develop high-speed Internet in space. Continue reading Aalyria: Google Spinout Plans to Deliver High-Speed Internet

More than 100 subpoenas have reportedly been issued in the legal battle between Elon Musk and Twitter, creating a full employment act for lawyers recruited to represent Silicon Valley’s elite. In addition to Twitter co-founder Jack Dorsey, those summoned to speak include investor Marc Andreessen, Oracle executive chair Larry Ellison, tech investors David O. Sacks and Joe Lonsdale, and former Twitter security head Peiter Zatko. The matter is set to be heard in Delaware Chancery Court starting October 17. “Every firm in the Valley is salivating like dogs trying to get in on that action,” said University of San Francisco professor of legal ethics Carol Langford. Continue reading Subpoenas Fly with Tech Elite Drawn into Musk-Twitter Battle

A former Twitter security chief may be Elon Musk’s white knight in the billionaire’s effort to get out of his contract to purchase Twitter for $54.20 per share ($44 billion). Peiter Zatko filed a whistleblower disclosure to Congress and federal agencies claiming Twitter not only deceived shareholders and the public by misrepresenting its bot count and security measures, but also alleging “that one or more current employees may be working for a foreign intelligence service,” according to CNN. If true, the allegations would violate a 2011 agreement between Twitter and the Federal Trade Commission. Continue reading Charges Made by Twitter Whistleblower Could Benefit Musk

Twitter’s second quarter revenue of $1.18 billion underperformed 2021 by only one percent but fell short of estimates by more than 10 percent, disappointing Wall Street, which projected revenue of $1.32 billion for the period. Advertising crept up two percent, to $1.08 billion, but overall Twitter had a quarterly net loss of $270 million, largely attributed to recessionary headwinds and uncertainty about Elon Musk’s proposed takeover. In its earnings report, Twitter said its lawsuit against Musk has been granted an expedited trial for October 2022. Continue reading Ad Market and Musk Credited for Twitter’s Missed Earnings

U.S. tech execs are experiencing app envy, with companies from Uber to PayPal and billionaires Elon Musk and Jack Dorsey setting their sights on building one-size-fits-all “super apps” to rival Tencent’s WeChat in China and SoftBank’s LINE in Japan. Where typical apps are built to do one thing really well, so-called super apps are generalists, which in theory means people will use them more often. Spotify and Snap have also expressed interest in super solutions, which have been popular in Asia since 2020 and are sparking new interest in the West. Continue reading U.S. Firms Chase China’s WeChat in Bid to Build Super Apps

Elon Musk is attempting to terminate his $44 billion deal to acquire social giant Twitter. Musk’s attorneys claimed in a regulatory filing that Twitter was in “material breach of multiple provisions” of the purchase agreement and “appears to have made false and misleading representations.” According to Twitter board chairman Bret Taylor, “The Twitter board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.” The deal includes a $1 billion “breakup fee” and the company can hold the billionaire to his original agreement by taking him to court. Continue reading Elon Musk Notifies Twitter of Plan to Cancel Acquisition Deal

Twitter is reportedly poised to launch a tool that enables publication of long-form content on the platform. Currently said to be in test mode, the new Twitter Notes will let users create content through a combination of rich formatting and uploaded media. Once published, the Twitter Notes can be shared. Twitter rolled out threads in 2017 as a way to accommodate longer commentary, and users today frequently create numbered threads to connect a string of related tweets (also known as “tweetstorms”). The move may be the result of increased focus on monetization following Elon Musk’s purchase offer. Continue reading Twitter Experiments with Blogging in Long-Form ‘Notes’ Test

Twitter’s 8,000 employees were treated to a question-and-answer session with Elon Musk on Thursday, the first staff meeting the tech entrepreneur has conducted since his bid to purchase the company for $44 billion. The hour-long meeting, which was live-streamed to the Twitter staff, touched on a wide range of topics, including aliens and “the nature of reality” as well as interests closer to home, such as layoffs, growth plans and, of course, TikTok. The move seemed to reinforce Musk’s intent to close the Twitter deal after suggesting in April that it was “on hold.” Continue reading Musk Shares Some of His Thoughts with Twitter Employees

Twitter’s tumbling stock price has spectators second-guessing Elon Musk’s motives in demanding more information for the acquisition deal to proceed. The billionaire’s “best and final” offer of $54.20 per share is now looking like a rich deal for Twitter, which has been hovering at about $38 per share. The Twitter board is understandably intent on keeping the $44 billion offer and $1 billion breakup fee in place, even as Musk tweeted ““this deal cannot move forward” until he sees proof of the company’s claim that spam and bots account for less than 5 percent of users. Continue reading Stock Volatility at Twitter and Tesla Roil Musk’s Buyout Plans

Elon Musk revealed on Thursday he has brought in investors willing to supply $7 billion toward his Twitter buyout. On Friday, he and Twitter were sued by a Florida pension fund seeking to prevent the Tesla CEO’s proposed $44 billion takeover. Prince Alwaleed bin Talal of Saudi Arabia has reportedly agreed to roll his existing $1.9 billion stake into a Musk-controlled Twitter. The fresh endorsement reverses the Saudi’s stance last month, when he tweeted “I don’t believe that the proposed offer by @ElonMusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.” Continue reading Musk, Twitter Board Sued in Wake of $7 Billion Commitment

Twitter has entered into a deal with FOX Sports, which will create and distribute exclusive content on the social platform for all upcoming FIFA World Cup Qatar 2022 and FIFA Women’s World Cup Australia & New Zealand 2023 tournaments. Appearing at the IAB NewFronts this week, Twitter also talked-up new and expanded deals with media partners NBCUniversal, E! News, Condé Nast, Essence and Sean “Diddy” Combs’ Revolt Media. The NewFronts announcements are important for Twitter, which accepted a buyout offer by Elon Musk that has some advertisers worried. Continue reading Twitter Announces Deals with FOX Sports and NBCUniversal

Twitter’s board has accepted billionaire Elon Musk’s offer to purchase the social media company for $44 billion, a financial value that reflects his April 14th offer of $54.20 per share. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk, the CEO of Tesla Motors and SpaceX, who earlier revealed a desire to make Twitter a private company. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.” Continue reading Twitter Accepts Musk’s $44 Billion Offer to Acquire Company

Twitter is fending-off Elon Musk’s takeover intentions with a poison-pill strategy that will make it much more costly for him to buy the company once his holdings exceed 15 percent. Although the Twitter board has yet to formally respond to Musk’s $43 billion offer of $54.20 per share, it is expected to reject it based on the defensive posture  adopted Friday. The poison-pill plan would be in effect for nearly a year, giving Twitter time to find another buyer. While Musk has not detailed how he would fund his offer, word surfaced Monday that Apollo Global Management is evaluating participation. Continue reading Twitter Board Attempts to Block Musk as Equity Firms Circle

Less than two weeks after announcing he had built up a 9.2 percent stake in Twitter (and more recently turning down an offer to join its board of directors), billionaire CEO of SpaceX and Tesla Motors Elon Musk has made a cash offer of $54.20 a share to purchase the popular social networking service, valuing the company at about $43 billion. “Twitter needs to be transformed as a private company,” Musk wrote in a letter to Twitter chairman Bret Taylor disclosed in an SEC filing. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.” Continue reading Elon Musk Makes ‘Best and Final’ $43B Offer to Buy Twitter

Subscribers to the premium Twitter Blue will soon be able to test an edit feature, according to Twitter, which says a tweet edit button has for years been its most-requested UI update. Speculation that the feature would be added has run rampant since Elon Musk, a vocal proponent, announced his significant investment in the company. Following news that Musk will join its board, Twitter revealed that it has been working on such a feature since last year and testing will begin in the coming months. However, the feature is somewhat controversial. Continue reading Twitter Will Begin Testing a Controversial Edit Button Feature