elon musk

As more senior executives quit, Musk warns of Twitter bankruptcy

In a latest update, Twitter Inc’s new owner Elon Musk on Thursday cautioned that there is a possibility of the social media platform going bankrupt, closing a chaotic day that included a warning from a U.S. privacy regulator and the resignation of the company’s trust and safety head.

Elon Musk at Twitter Headquarters

Elon Musk at Twitter Headquarters

Bloomberg news reported that the billionaire-investor on his first mass call with employees said that he could not rule out the chance of bankruptcy, two weeks after taking over the company in a $44 billion deal that, according to credit experts, has left Twitter’s finances in an uncertain position.

In his first company-wide email, earlier in the day, Musk said that Twitter would not be able to “survive the upcoming economic downturn” if it did not succeed in boosting subscription revenue to compensate for the falling advertising income. This was informed by three people who have seen the message to Reuters.

Yoel Roth

Two people familiar with the matter told Reuters that Yoel Roth, who has headed Twitter’s response to counter hate speech, misinformation and spam on the service, resigned on Thursday.

In his Twitter bio on Thursday, Roth described himself as “Former Head of Trust &

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November 18, 2022 by ATTORNEY

Musk warns Twitter could face bankruptcy

twitter-1500-800-1200×640.jpg 1200w” sizes=”(max-width: 1500px) 100vw, 1500px”/Twitter’s new owner, Elon Musk, has raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US privacy regulator and the exit of the company’s trust and safety leader.

The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for US$44-billion — a deal that credit experts say has left Twitter’s finances in a precarious position.

Earlier in the day, in his first company-wide e-mail, Musk warned that Twitter would not be able to “survive the upcoming economic downturn” if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message said.

Yoel Roth, who has overseen Twitter’s response to combat hate speech, misinformation and spam on the service, resigned on Thursday, two people familiar with the matter said.

In his Twitter profile on Thursday, Roth described himself as “Former Head of Trust & Safety” at the company. Roth did not respond to requests for comment.

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November 16, 2022 by ATTORNEY

Elon Musk tells Twitter staff that bankruptcy isn’t out of the question: report

Twitter owner Elon Musk told employees on Thursday that he is not sure how much run rate the company has and that bankruptcy is not out of the question, the Managing Editor of tech newsletter Platformer tweeted.

Musk is participating in an all-hands meeting with Twitter employees, a source told Reuters.

Twitter did not immediately reply to an emailed request for comment from Reuters.

The revelation came after reports that several top executives have jumped Musk’s sinking ship — including Yoel Roth, the company’s Head of Safety & Integrity, and Chief Security Officer Lea Kissner.

Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty have also resigned, according to an internal message seen by Reuters.

The exodus follows Musk’s move to swiftly clean house after taking over Twitter for $44 billion on Oct. 27. He announced plans to cut half its workforce last week, promised to stop fake accounts and is charging $8 a month for the Twitter Blue service that will include a blue check verification.

The U.S. Federal Trade Commission said it was watching Twitter with “deep concern” after the social media platform’s top privacy and compliance officers quit, potentially putting it at risk of violating

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November 12, 2022 by ATTORNEY

Tesla hires new lawyer in compliance role amid legal battles

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland. REUTERS/Arnd Wiegmann

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(Reuters) – Tesla Inc has hired Michael Munro to handle compliance issues, according to a post from Munro on his LinkedIn account Tuesday, as the electric-car maker and its CEO Elon Musk face mounting legal challenges.

Munro will serve as associate general counsel for global compliance. Tesla did not confirm the hire nor did it immediately respond to requests for comment Tuesday.

Munro jumps to Tesla from a part-time position as general counsel at logistics platform company e2Log and a role at compliance consulting firm GCMR, which his LinkedIn profile said he co-founded.

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Tesla and Musk, who is the world’s richest person, are fighting on several legal fronts, including with the Securities and Exchange Commission over a 2018 agreement to have Musk’s Twitter posts vetted.

Tesla also faces several labor lawsuits, the latest of which alleges the company failed to provide legally-required advance notice to employees ahead of a

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June 29, 2022 by LAW
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