Axios

Truth Social's parent company saw its stock fall 23% on Thursday, wiping out all of its post-election gains and around $1.8 billion in market value.

Why it matters: The decline and its timing raise fresh questions about the meme stock's future.

Buckle up: President-elect Trump plans fast action on a business-friendly agenda of tax cuts, deregulation and expanded energy production, his advisers tell us.

Why it matters: Trump plans to load his White House and Cabinet with business- and tech-friendly executives, and stretch the powers of the presidency to force quick changes.

Elon Musk overpaid for Twitter when he bought it for $44 billion in late 2022, after unsuccessfully trying to renegotiate or renege.

Now a new conventional wisdom is emerging: Twitter is a loss leader for the rest of Elon Inc.

Fans who watch the Super Bowl for the halftime show don't have to wait until February to see hot music acts perform on a grand stage.

The big picture: Performances on "Amazon Music Live," which airs following "Thursday Night Football" on Prime Video, have grown in scale since the program launched in 2022.

Apple on Wednesday released the public beta version of iOS 18.2, bringing with it a second wave of Apple Intelligence features.

Why it matters: Some of the most visible AI features are making their way into iOS in this release, including Image Playground, Genmoji and ChatGPT integration.

America just elevated one man to an unfathomable status: the most powerful civilian — ever.

Why it matters: Elon Musk — the most influential backer of President-elect Trump, thanks to his money, time and X factor — now sits at the pinnacle of power in business, government influence and global information (and misinformation) flow.

Some Silicon Valley leaders and investors who have long itched to apply their startup toolkit to government see a big opening in the Republican victory Tuesday, with Elon Musk taking charge of a Trump administration federal efficiency initiative.

Why it matters: Many Trump partisans in tech see Musk's takeover and transformation of Twitter as a model for how to go about reshaping the federal government.

Amazon founder Jeff Bezos, Meta's Mark Zuckerberg and Apple's Tim Cook were among the Big Tech leaders to take social media to congratulate President-elect Trump on his win Wednesday.

Why it matters: The industry is preparing for new policy positions brought by the new Trump administration, though any of them could quickly shift depending on the president's whims.

The world's richest person keeps getting what he wants, time and time again — and each win makes him bolder.

Why it matters: Elon Musk enthusiastically backed Donald Trump's effort to recapture the White House in a winning bet that'll give the Tesla, SpaceX and X boss more political influence than he's ever had.

American voters have just decided — among many other things — that artificial intelligence will grow up in a permissive, anything-goes household, rather than under the guidance of stricter parents.

Between the lines: Trump's reputation may be that of a strongman, and his MAGA brand of conservatism embraces tough talk, but last night's Republican victory makes it a lot more likely that AI will run wild as it develops.

The U.S. military tapped a mix of small and large companies to design an alternate network of GPS satellites it says it needs pronto.

Why it matters: Washington and its friends abroad cannot afford to lose GPS access, which supports battlefield movements and keeps economies afloat.

Elon Musk and his pro-Trump super PAC were sued on Tuesday by two swing state voters who accused them of fraud in separate lawsuits.

The big picture: Both lawsuits cite the billionaire's attorney stating Monday in a Pennsylvania case that allowed a daily $1 million sweepstakes to proceed that the winners were earning payment for acting as spokespeople and were not chosen at random.