Where’s my flying car? Everyone who’s grown up with the idea that you could commute to work in a “The Jetsons”-style flying car in the future might have asked that question. You could even call an Uber-like flying car with an app if you want somebody else to do the driving. NASA is working with … [Read more…]
In the tumultuous couple of months since Elon Musk took charge of Twitter, he may have come across as a bull in the china shop. Now he may step away from daily operations after a poll in which he asked, “Should I step down as head of Twitter?” 57.5% of respondents voted “Yes.” Elon Musk … [Read more…]
So I’m sure we’re all at least somewhat familiar with the drama behind Elon Musk’s acquisition of Twitter. First Elon Musk revealed that he had enough Twitter stock to equal a 9.2% stake and offered to take it private. Twitter’s board of directors dithered around about it for a bit, and then accepted the offer. … [Read more…]
A new regulatory filing with the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) unveiled “Twitter Payments LLC,” a subsidiary of Twitter that will process payments. Twitter Payments LLC will be a money transmitter – essentially a third party that can relay money from a sender to a recipient. The application was filed on November … [Read more…]
About 1,100 former Twitter employees saved Elon Musk the trouble of laying them off since he announced his offer to take Twitter private in April. Many of them found work at other Big Tech companies like Meta and Google or smaller tech startups. Musk is busy making cuts to the staff who stayed and will … [Read more…]
The payment processing company Stripe is laying off 1,000 employees, or about 14% of its workforce. The layoff returns Stripe’s workforce to its February level of just under 7,000 employees. Stripe co-founders Patrick and John Collison admitted that it simply overextended itself this year in an email to employees. The company will especially cut back … [Read more…]
The European Union’s Digital Markets Act went into effect today (November 1, 2022). The terms of the Digital Markets Act will become enforceable in May 2023. It will compel online “gatekeepers” like Google and Meta to overhaul some of their businesses practices. The act includes provisions for data handling that includes forbidding businesses from using … [Read more…]
The consumer protection group Consumer Financial Protection Bureau (CFPB) came into increased focus last week as its activity was scrutinized by judges, questioned by politicians, and criticized by bankers. On top of that, it is working on new rules for financial institutions’ handling of consumer data. The result was a busy week for the CFPB. … [Read more…]
Twitter has been taken private in a deal led by Elon Musk. Although he really created a lot of drama around it, he isn’t the only stakeholder in Twitter now that its last day of public trading on the New York Stock Exchange ended with a flourish at $53.70 per share. (For reference, Elon Musk … [Read more…]
More than 1,100 Twitter employees have left the company since Elon Musk announced that he bought enough Twitter stock (NYSE:TWTR) to represent slightly over 9% stake in the company and intended to buy the rest to take it private. 530 of those employees left just in the past quarter, according to data from LinkedIn that … [Read more…]