What just happened? Elon Musk has orchestrated another move in his sprawling business empire, announcing on Friday that his artificial intelligence firm, xAI, has acquired X (formerly Twitter). The all-stock transaction values X at $33 billion, including $12 billion in debt, and xAI at $80 billion, creating a combined entity Musk says will "unlock immense potential" and provide "smarter, more meaningful experiences" for users.
Editor's take: Remember when today's technology was new and exciting and everyone was talking about how great the internet was, or Facebook, or Twitter? Things aren't so rosy now. And while that may sound like an Abe Simpson-like rant, it's easy to understand why "enshittification" has been crowned word of the year.
In brief: Former Twitter platform X has been ordered to pay an ex-employee in Ireland more than €550,000 ($602,640) in an unfair dismissal case. The one-time senior executive at the company was found to have been dismissed unfairly after he failed to click "yes" on an email from Elon Musk confirming that staff were willing to be part of the new "hardcore" work culture.
What just happened? Elon Musk's conflict with advertisers took a shocking new turn yesterday when he announced his platform X, formerly Twitter, is suing a group of ad companies, along with individual firms, over an alleged coordinated boycott of the site. The suit claims this broke federal antitrust laws and caused X to lose revenue.
Big quote: Elon Musk has responded to advertisers rushing to leave former Twitter platform X by telling them to "Go f**k yourself," which is unlikely to appease the companies that were handing over millions for ad space. The owner's outburst has since been addressed by X CEO Linda Yaccarino, who said "X is standing at a unique and amazing intersection of Free Speech and Main Street."