Monday, July 11, 2022

Axios Login: Twitter's broken wings

Plus: Uber lobbying leaks | Monday, July 11, 2022
 
Axios Open in app View in browser
 
Presented By Computer & Communications Industry Association
 
Axios Login
By Ina Fried · Jul 11, 2022

Join Axios' Javier E. David, Erica Pandey and Niala Boodhoo tomorrow at 3:30pm ET for a virtual event exploring the digitization of small business.

  • Guests include SBA Administrator Isabel Casillas Guzman, 1863 Ventures founder and managing partner Melissa Bradley, and National Small Business Association president and CEO Todd McCracken.
  • Register here.

Today's newsletter is 1,275 words, a 5-minute read.

 
 
1 big thing: Where a wounded Twitter goes from here
Illustration of an EKG pulse line forming the Twitter bird.

Illustration: Aïda Amer/Axios

 

The architects and proponents of Elon Musk's bid to buy Twitter all describe the platform as a global public square whose health is essential for democracy.

Yes, but: Musk's efforts to exit the deal leave the company, and that public square, shakier than ever.

Driving the news:

  • Musk said Friday he was calling off the deal, claiming he has been unable to verify Twitter's fake-account metrics, among other grievances. Twitter's board said it would take Musk to court to force him to complete the purchase.
  • Armies of lawyers on both sides will now descend on a Delaware court to fight it out, with legal experts saying Twitter has the edge, given the original deal terms and language.
  • Twitter may well get some money out of Musk — the $44 billion deal came with a $1 billion breakup fee — but it's less likely the court will actually force him to buy the company. It all hinges on how the court rules on one key clause, Axios' Felix Salmon reports.

The big picture: After three months of Musk's vacillations and tweets, Twitter as an organization and a service has been seriously injured.

  • Employees at companies coping with this kind of takeover fight are at best highly distracted. At worst, the talent flees.
  • The company's stock has also taken a battering, on top of the general market slide.
  • The prospect of a titanic court battle won't help Twitter's leaders get more done.

What they said: In public statements in April, former Twitter CEO Jack Dorsey, current CEO Parag Agrawal and Musk himself all talked up the importance of preserving Twitter as an essential public resource, and Dorsey boldly praised the deal as the only clear path forward.

  • Dorsey: "Twitter is the closest thing we have to a global consciousness. ... In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust."
  • Agrawal: "Twitter has a purpose and relevance that impacts the entire world," he said in the press release announcing the deal.
  • Musk: "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," he said as the deal was announced.

Our thought bubble: None of the parties seems to care much about any of this rhetoric now.

What's next: Twitter faces the daunting task of trying to fight Musk in court while restoring morale and plotting a new course.

  • With the stock down considerably from Musk's original price, and no clear internal plan to reach that valuation, the company could also be on the lookout for another buyer.
  • But regulators' newly aggressive anti-merger policies likely rule out many of the acquirers who might have the resources to get Twitter on track.
Share on Facebook Tweet this Story Post to LinkedIn Email this Story
 
 
2. Klobuchar, Warren push Meta on abortion posts
An illustration of the Facebook like logo making a thumbs down

Illustration: Megan Robinson/Axios

 

Sens. Amy Klobuchar (D-Minn.) and Elizabeth Warren (D-Mass.) wrote to leadership at Meta last week to press the company about reports it has been "censoring posts containing accurate information about abortion" since the Supreme Court overturned Roe v. Wade, according to a letter shared exclusively with Axios' Ashley Gold.

Driving the news: Klobuchar and Warren wrote to Meta CEO Mark Zuckerberg and Instagram CEO Adam Mosseri July 7.

  • The two senators referred to various news reports that Facebook and Instagram have removed posts about legally obtaining abortion services, added "sensitivity screens" to posts and suspended accounts sharing information about abortion access altogether.

What they're saying: "It is more important than ever that social media platforms not censor truthful posts about abortion, particularly as people across the country turn to online communities to discuss and find information about reproductive rights," Sens. Klobuchar and Warren wrote.

Details: They ask Mosseri and Zuckerberg to answer a number of questions about their policies by July 15, including:

  • what measures Facebook and Instagram employ to flag abortion-related posts;
  • how many abortion-related posts have been removed since June 24;
  • how many abortion-related hashtags have been removed or blocked since the same date.

The other side: Meta spokesperson Andy Stone had said last month some of the posts were taken down due to improper application of Meta's policy against buying, selling, trading, gifting or requesting pharmaceuticals.

Our thought bubble: This is just the beginning of the challenges online platforms will face from all sides in moderating content related to reproductive medicine as many states move to outlaw abortion.

Share on Facebook Tweet this Story Post to LinkedIn Email this Story
 
 
3. Big Uber file leak raises new questions

Uber's effort to land political allies for its "bare-knuckled global expansion" from 2013 to 2017 included lobbying efforts that directly targeted President Biden and French President Emmanuel Macron, according to a joint media investigation published Sunday.

Why it matters: Uber's history of challenging or ignoring local laws and regulations has long been a matter of record. But, as Axios' Rebecca Falconer writes, the fresh report highlights that Uber was courting high-level officials even as in some cases it was flouting the orders of local governments.

How it happened: The latest revelations came from a Guardian-led probe that was shared with the nonprofit International Consortium of Investigative Journalists (ICIJ) and a number of outlets, including the Washington Post.

By the numbers: Investigative journalists analyzed 124,000 leaked records for "the Uber Files," including those of more than 100 meetings between the San Francisco-based firm's executives and public officials from 2014 to 2016.

Zoom in: Then-Vice President Biden appears to have "tweaked" a 2016 Davos speech following a meeting with Travis Kalanick, Uber's CEO at the time. The speech praised the firm for enabling workers the "freedom to work as many hours as they wish, manage their own lives as they wish," according to the report.

  • President Macron was described by an Uber lobbyist as a "true ally" for his relationship with the company when he was economy minister from 2014-16 — including striking a deal with lawmakers in the French Cabinet who were opposed to the firm.
  • Macron also allegedly promised to intervene after a French official banned Uber in Marseille in a test message, stating "I will look at this personally. At this point, let's stay calm."

The other side: Uber spokesperson Jill Hazelbaker acknowledged in a statement that "mistakes" had been made, but added that the company had transformed under the leadership of Dara Khosrowshahi, who became CEO in 2017.

  • "We ask the public to judge us by what we've done over the last five years and what we will do in the years to come," Uber said.

The big picture: The investigation builds on earlier allegations against Uber, such as its use of technology to thwart police raids, citing correspondence from Kalanick during a police raid in Amsterdam stating: "Please hit the kill switch ASAP ... Access must be shut down in AMS (Amsterdam)."

  • It also outlines how some Uber executives "sought to spin" reports of violence against drivers to the company's advantage in the media and adds more details on the company's channeling of money through tax havens, including Bermuda.
Share on Facebook Tweet this Story Post to LinkedIn Email this Story
 
 

A message from Computer & Communications Industry Association

Pending antitrust legislation could cost US economy billions
 
 

Senate bill S. 2992 could break digital services like Google Search, Amazon Prime and your phone's security.

Americans are feeling the squeeze of record inflation, so why do some members of Congress want to set the economy back by an estimated $319 billion?

Learn more.

 
 
4. Take note

On tap

Trading Places

  • Envoy has hired business development veteran David McNeil as chief revenue officer. McNeil previously worked at Salesforce and HubSpot and most recently served as chief commercial officer for healthcare firm Tebra.com.

ICYMI

Share on Facebook Tweet this Story Post to LinkedIn Email this Story
 
 
5. After you Login

Check out these funky, handmade Raspberry Pi-based laptops.

Share on Facebook Tweet this Story Post to LinkedIn Email this Story
 
 

A message from Computer & Communications Industry Association

Congress: Don't squeeze Americans' finances even further
 
 

Some policymakers are intent on passing S. 2992 — flawed legislation that could undermine free and reliable digital services that families use daily.

Without Amazon's guaranteed 2-day shipping, Google search or phone security, consumers' finances will be squeezed even further.

Learn more.
 
HQ
Are you a fan of this email format?
It's called Smart Brevity®. Over 300 orgs use it — in a tool called Axios HQ — to drive productivity with clearer workplace communications.
 

Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here.
Sponsorship has no influence on editorial content.

Axios, 3100 Clarendon B‌lvd, Arlington VA 22201
 
You received this email because you signed up for newsletters from Axios.
Change your preferences or unsubscribe here.
 
Was this email forwarded to you?
Sign up now to get Axios in your inbox.
 

Follow Axios on social media:

Axios on Facebook Axios on Twitter Axios on Instagram
 
 
                                             

No comments:

Post a Comment

5 Stocks to Buy Now That Trump is President

If you are not able to see this mail, click here If you wish to unsubscribe from our newsletter, click here Fellow Reader, ...