Twitter's board said Tuesday that it plans to "close the transaction and enforce the merger agreement" between Elon Musk and Twitter, The New York Times reports.
Driving the news: "The board and Mr. Musk agreed to a transaction at $54.20 per share," Twitter's board said in a statement to The New York Times. "We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement.”
Venture capital giant Andreessen Horowitzargues that what seems like a boom-and-bust cycle in crypto has an underlying logic.
Driving the news: In a blog post accompanying the first of what it promises will be an ongoing series of annual reports on cryptocurrency, several members of the firm explained why crypto is different.
Elon Musktweeted at 3:32am ET Tuesday that his bid to buy Twitter "cannot move forward" unless CEO Parag Agrawal provides proof for his estimate that less than 5% of users are bots or spam accounts.
Why it matters: Analysts believe Musk is using allegations that Twitter's user base has more bots than the company claims to either back out of the deal or negotiate down a price, especially now that Twitter's stock price has plummeted amid a broader market downturn.
Ian Bremmer writesin "The Power of Crisis," out Tuesday, that the globe's three great threats are the next pandemic ... the climate emergency ... and the unexpected impact of disruptive technologies:
"The speed of technological change is the biggest risk of all," writes Bremmer, president and founder of Eurasia Group. "Companies are now using artificial intelligence to figure out the most efficient ways to change human behavior in ways that profit them."
The new CEO of Arm says that the designer of microprocessors is growing again — following its failed sale to Nvidia — thanks to a strategy to move beyond the stagnant smartphone market.
Why it matters: With the Nvidia deal scuttled by opposition from regulators and competitors, cash-strapped parent company SoftBank is now looking to spin out Arm as a separate public company.
A viable Twitter deal is "not out of the question" at a lower price, Elon Musk said at the 2022 All-In Summit Monday, as he's continued to express skepticism about the company's estimate of spam and fake accounts.
State of play: Musk recently put his deal to buy Twitter "temporarily on hold" as he seeks out more information about spam and fake accounts.
The White House slammed Amazon founder Jeff Bezos on Monday after the billionaire accused President Biden of "misdirection" in his comments on inflation and corporate taxes.
Driving the news: Biden tweeted Friday that the wealthiest corporations must "pay their fair share" to help bring down record-high inflation.
Activision Blizzard’s unveiling of a new software program meant to increase diversity in the casts of video games has become a textbook example of what not to do.
Driving the news: The publisher announced the “Diversity Space Tool” last Thursday as “a leap forward for inclusion in gaming,” but by Friday evening had scrubbed those words and more from its online announcement, as developers from the company began slamming it.
Tech platforms are facing a new reality: Unless the U.S. Supreme Court intervenes, Texans could immediately start suing giants like Meta and YouTube over content moderation decisions they don't agree with.
Driving the news: The United States Court of Appeals for the Fifth Circuit reversed an earlier ruling that had stopped Texas from enforcing its social media law, HB 20, last week. Industry groups asked the Supreme Court Friday for an emergency stay.
Twitch says it managed to take down the live stream of the weekend mass shooting in Buffalo within two minutes after it started. However, videos of the shooting have been viewed millions of times, in part because it remains easy to re-upload copies of videos to multiple platforms.
Why it matters: Live-streaming mass shooting events can give assailants assurance that their crimes will live online for many years.
