Archive for the ‘Elon Musk’ Category

Elon Musk keeps tweeting conspiracy theories despite Twitter advertiser worries – Vox.com

Despite criticism for continuing to engage with conspiracy theories, Elon Musk is posting through it.

In the past five days, Musk has doubled down on a conspiracy theory about the Allen, Texas, shooter; tweeted that billionaire philanthropist George Soros (who has long been the target of antisemitic conspiracy theories online) wants to erode the very fabric of civilization and hates humanity; and promoted a quickly debunked rumor that falsely claimed Washington Post journalist Taylor Lorenz was related to the founder of the Internet Archive.

When CNBC reporter David Faber asked Musk about his promotion of conspiracy theories in a live interview on May 16, Musk acknowledged that he does support these theories, like the Hunter Biden laptop scandal, because some of these conspiracy theories like the Hunter Biden laptop story have turned out to be true. When Faber pressed Musk about whether his promotion of conspiracy theories is hurting Twitters reputation with advertisers, Musk was defiant.

Ill say what I want to say, and if the consequence of that is losing money, so be it, said the billionaire.

Musks argument is that because conspiracy theories can sometimes be true, its okay to entertain them. Musk is correct that the Hunter Biden laptop story did turn out to be real, even though many in the media questioned its initial veracity. Twitter, the company Musk now owns, even controversially blocked the New York Post story breaking the news. Its also true, as my colleague Zack Beauchamp has explained, that there can be valid, non-antisemitic reasons to criticize powerful figures like Soros.

But many of the conspiracy theories Musk has promoted to his 140 million Twitter followers have proven false. And some argue theres potential danger in Musk spreading misinformation or heated rhetoric. The way Musk characterizes Soros, for example, stands to embolden extremists, according to Anti-Defamation League president Jonathan Greenblatt. Musk accused Greenblatt of defaming him and vehemently denied hes personally antisemitic, saying if anything that hes pro-semite, in the recent CNBC interview.

Lets clarify right out the gate that Musk has a First Amendment right to say what he wants, with some limited legal exceptions. And as the owner of Twitter, a private company, he has the final word on what speech is or isnt allowed on Twitter. But because Musk is the leader of the platform and one of the richest, most influential people in the world, his actions have consequences, both tangible and symbolic. Moreover, Musks tweets serve as a hindrance to the very real challenges Twitter faces to win back more advertisers who have left the brand, in large part over concerns about Musks behavior.

Musks engagement with conspiracy theories in recent weeks hasnt been direct. Hes been described as flirting with these theories, oftentimes replying to a conspiracy theory tweet rather than directly tweeting it himself. Hes often taken a just asking questions approach, especially on subjects where theres an information void.

For example, the week of the recent Texas shooting, early coverage of the incident, including that of open source intelligence research group Bellingcat, claimed that the suspected shooter was a white supremacist, based in part on his social media activity. Soon after, Musk jumped into the fray. He responded to a cartoon meme posted by an account called The Redheaded libertarian that raised questions about whether the suspected shooter, who is of Hispanic origin, could really be a neo-Nazi, and whether his account on a Russian social media app was legitimate.

Didnt the story come from @bellingcat, which literally specializes in psychological operations? I dont want to hurt their feelings, but this is either the weirdest story ever or a very bad psyop! Musk replied.

Bellingcat founder Eliot Higgins has long denied theories about his organization having ulterior motives, saying in a past interview that its contributors are just people with laptops and free time. But even if you dont believe Higgins or Bellingcat on the subject of the Texas shooter, you dont have to take their word for it. Thats because Texas law enforcement confirmed on May 9, the same day Musk posted his initial tweet casting doubt on the shooters white supremacist ties, that the suspected shooter had Neo-nazi ideation as confirmed by patches and tattoos on his body.

Despite this additional evidence, Musk doubled down on his disbelief about the shooters ideology a week later in the CNBC interview, saying there is no proof that the shooter was a white supremacist. Either Musk doesnt know about or is choosing not to mention law enforcements account here. That doesnt mean theres never reason to question public officials account of a crime, but Musk didnt do that here; he just avoided acknowledging a notable piece of evidence that contradicts his theory.

Race and crime seem to be points of particular interest for Musk. Last week, he replied to a tweet that contained a chart claiming to show that Black-on-white crime is higher than that of other categories of crime by race. Many have criticized the chart for being skewed, but Musk seemed to endorse it. Odd, why would the media misrepresent the real situation to such an extreme degree? Musk tweeted.

Others have said that the chart Musk is referencing is misleading because its adjusted for percentage of the population: Because white people account for a larger percentage of the US population, it makes sense that they are victims of crime in larger numbers. Also, the chart didnt include white-on-white crime, which is among the highest buckets of crime broken down by race in the US.

As with many of Musks conspiracy-theory-flirting tweets, when put together, we start to see a fuller picture emerge: a specific grievance. In this case, its how the media portrays race and crime.

Its notable that Musk is tweeting controversial tweets during a particularly critical moment for the future of Twitter.

The company has lost more than half of Twitters top 1,000 advertisers since Musk took over in November, according to January data from analytics company SensorTower. Some major companies, like Disney, Amazon, and Apple, have continued to spend money on the platform, and Musk has said other advertisers are coming back. But hell need more advertisers in his corner if he wants to turn Twitters business around.

Musk announced last week that former NBCUniversal advertising executive Linda Yaccarino will be replacing him as CEO. Given her street cred in the advertising industry, shes seen as someone who can help repair Twitters reputation with major brands.

If anyone can do it, its Linda, one advertising executive, who spoke on the condition of anonymity, told me last week. It looks as though Yaccarino has already managed to help bolster Twitters image with GroupM, one of the top advertising agencies in the world. The agency, which is owned by WPP, had designated Twitter as a high-risk company for its clients to advertise with, but, according to the Financial Times, recently removed the designation.

If Musks tweets were gaining him positive attention or drawing attention away from some other, bigger issue, you could say his tweets serve as a useful distraction or a savvy way of gaining free media coverage. Instead, Musks behavior is self-destructive. His controversial tweets could exacerbate the most pressing problem with Twitter: its relationship with advertisers.

Musks continued conspiracy theory flirtation threatens to stymie any progress Twitter is making on that front. Back in November, Musks tweet promoting a conspiracy theory about the violent attack on Nancy Pelosis husband was seen as one of the turning points for many advertising industry insiders in their assessment about whether or not to continue advertising on Twitter.

Its clear that Musks repeated promotion of conspiracy theories has real consequences for his business. If theres a deeper reason for why Musk continues to promote these theories despite the consequences beyond merely saying what he wants to say is anyones guess. Whatever the reasoning, Musk is posting through the firestorm and getting all kinds of attention for it. Maybe that alone is worth the trouble.

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Elon Musk keeps tweeting conspiracy theories despite Twitter advertiser worries - Vox.com

‘Absolutely not’: Americans weigh in on whether Kamala Harris can lead on AI after Elon Musk mocked her – Fox News

Vice President Kamala Harris wouldn't be able to effectively run the White House's response to artificial intelligence if she's charged with leading it, some residents of the nation's capital told Fox News.

"I don't know if Kamala Harris has the background and the tech knowledge to really get a grasp on what AI can do and what its capabilities are, to be able to wrangle it in a space that is safe for everyone and not just beneficial for large corporations," Eric told Fox News.

Vice President Kamala has been involved with the White House's AI efforts. (AP Photo/Nathan Howard)

But another D.C. local, Marlena, said: "I definitely trust her on the task force. She's a brilliant woman, extraordinarily accomplished."

She was the only person Fox News interviewed who had faith in Harris' ability to handle the White House's AI response.

WATCH MORE FOX NEWS DIGITAL ORIGINALS HERE

Harris met with the top executives from OpenAI, Microsoft and Alphabet earlier this month to discuss AI-related risks and opportunities. Afterward, the vice president faced criticism from Elon Musk and others who questioned her expertise in the field.

"Maybe someone who can fix their own WiFi router wouldnt be too much to ask," Musk tweeted about Harris' potential role.

Elon Musk suggested that someone who knows how to fix their own WiFi router would be better to lead the Biden administration's response to AI. (Justin Sullivan/Getty Images)

Several D.C. residents echoed similar sentiments.

"I'm not sure I trust Kamala Harris to run point, but I certainly hope that she gets the job done," Devonne said.

Jo said Harris should "absolutely not" lead the White House's AI response "because I don't believe she's done a good job at all as vice president."

'BORDER CZAR' HARRIS DOWNPLAYS MIGRANT CRISIS DURING GEORGIA FUNDRAISING TRIP: 'GOING RATHER SMOOTHLY'

Others said it would take an industry expert or a panel of them to regulate AI.

"I don't know if putting one person who may or may not possess that particular expertise in charge is a great idea," John told Fox News. "That takes real specialized knowledge and there's so many different ethical considerations, all sorts of various things."

Whoever leads the White House's AI response should have expertise on AI, John said. (Jon Michael Raasch/Fox News Digital)

Others said they can't trust Harris to excel in AI since they haven't seen her succeed in other areas.

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"I would say no because I have no knowledge of what her track record is at this point of anything," Keisha told Fox News.

Another man said: "No, because we have not seen her do anything at all."

To watch the full interviews, click here.

Ramiro Vargas contributed to the accompanying video.

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'Absolutely not': Americans weigh in on whether Kamala Harris can lead on AI after Elon Musk mocked her - Fox News

Elon Musk’s SpaceX and Italy’s Unipol join forces to help Italians hit by flooding – Reuters

[1/5] Residents use a boat to navigate through flood water after heavy rains hit Italy's Emilia Romagna region, in San Pancrazio near Ravenna, Italy, May 18, 2023. REUTERS/Antonio Denti

MILAN, May 20 (Reuters) - Elon Musk's SpaceX and Unipol Gruppo (UNPI.MI) agreed to join forces to help people hit by flooding in northern Italy connect to the Internet, facilitating rescue operations, the Italian insurer said on Saturday.

Torrential rains devastated the eastern side of the Italian region of Emilia-Romagna, killing 14 people, causing billions of euros worth of damage and hitting agriculture particularly hard.

Around 36,000 people were forced to leave their homes and many of those who remained in flooded areas were left with no electricity. Rescue efforts are hampered by persistent bad weather and disruptions on phone lines

Under the agreement, Unipol acquired SpaceX's Starlink satellite internet terminals and will make them available for rescuers, hospitals and the public. SpaceX is positioning its satellites to prioritise the Emilia-Romagna region and provide improved coverage.

"SpaceX, Starlink and Tesla are happy to be of use in any way to help Italy and the people affected by the flooding", Musk said in a statement.

Reporting by Gianluca Semeraro, Editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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Elon Musk's SpaceX and Italy's Unipol join forces to help Italians hit by flooding - Reuters

Ross Gerber holds $74 million in Tesla stock. Here’s why he’s bullish. – Business Insider

Welcome to the weekend, friends. Phil Rosen here today I'm excited to share my conversation with a high-profile Tesla shareholder who recently campaigned for a board seat at Elon Musk's company.

As always, if you have any suggestions for who I should interview next, let me know on Twitter @philrosenn, or email me prosen@insider.com.

If this was forwarded to you, sign up here. Download Insider's app here.

Ross Gerber is the cofounder and CEO of Gerber Kawasaki Wealth and Investment Management, and holds 420,000 shares of Tesla stock, or about $74 million based on Tesla's current stock price. This conversation has been lightly edited for length and clarity.

Phil Rosen: What was your takeaway on Musk at this week's annual shareholder meeting?

Ross Gerber: Elon had his mojo back. Seeing his energy and enthusiasm, him being around the people who love him and he loves, you can see he's clearly happy.

He came out swinging pretty hard with the business plan, $25,000 car, Cybertruck, self-driving then he followed it with a mainstream media interview, which he killed.

It was literally the best PR day for Tesla since the Twitter disaster began.

Musk appointed a new CEO of Twitter on May 12, days before the shareholder meeting. How did these two events impact your investment view on the stock?

RG: You gotta own Tesla in your portfolio with Elon re-focused on Tesla.

Over the first quarter I was a net seller. I went from 440,000 shares to 420,000, but now I'm back to a buy.

I went from a hold and somewhat bearish, to a buy and somewhat bullish. The only thing keeping me from outright bullishness is the broader economy.

What do you want to see the EV company do next to get to the next level?

RG: It comes down to service and quality. Tesla needs a quality and service czar whose job it is to make sure customers are having good experiences.

Tesla needs to understand that they have millions of users, and someone has to be in charge of the user experience, not just updating software. They're very good with the tech side, but they need to be better with human interaction for customers.

Read my full conversation with the top Tesla investor and money manager.

What do you think of Gerber's outlook on Tesla? Let me know.

And here are the top stories from markets this week:

1. Ray Dalio said politicians will likely avoid a default, but whatever deal they make will bode poorly for the future. Any potential decision by lawmakers probably won't be the most viable long-term solution, the billionaire said. He warned that repeatedly raising the debt ceiling will "eventually lead to a disastrous financial collapse."

2. A whistleblower said the investment arm of the Mormon church operated like a "clandestine hedge fund."The Church of Jesus Christ of Latter-day Saints has a portfolio topping $100 billion, and that includes $46.2 billion parked in stocks. Here are the top 10 holdings.

3. This investment chief oversees $100 billion.He said the stock rally isn't painting the whole picture of what's really happening. These are the the three corners of the market that he likes for the short- and long-term.

4. RH stock plunged after Warren Buffett's Berkshire Hathaway dumped its entire stake. The conglomerate had started to build its position in the third quarter of 2019, and it was last worth about $575 million. Shares of RH have plunged 67% from their post-pandemic high but Buffett still likely made a profit on the bet.

5. Taylor Swift showed her financial savvy when she avoided a deal with failed crypto exchange FTX.The popstar puts her money in a niche type of mutual fund, according to Boaz Weinstein: "For many reasons, it's hard not to be a Swifty."

6. "Big Short" investor Michael Burry piled into First Republic, PacWest, and other ailing bank stocks last quarter.His firm, Scion Asset Management, more than doubled the dollar value of its portfolio to $107 million to start the year. Full details.

7. Hedge fund billionaire Steve Cohen told investors to ride the "big wave" of AI and stop focusing on recession odds.You could miss out on timely opportunities if you get caught up in potential downside, he said at a recent event, sources told Bloomberg: "I'm actually pretty bullish."

8. The top large-cap fund manager from the past 12 months shared his 13 favorite stocks right now.He broke down his full list, and explained the one change that completely turned around his portfolio performance.

9. Meet the money manager of an award-winning credit fund that has tripled its benchmark since 2014.Sam Reid of River Canyon Total Return Bond Fund shared his strategy for picking winners in the current landscape and what he's watching in the credit market.

10. The strength of the US consumer is at risk as 43 million borrowers are set to resume student loan payments.Strategists at Bank of America said millions of Americans could start shelling out up to $400 per month later this year. That could make shareholders for companies like Discover and SoFi winners in this scenario.

Curated by Phil Rosen in New York. Feedback or tips? Tweet @philrosenn or email prosen@insider.com

Edited by Max Adams (@maxradams) in New York.

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Ross Gerber holds $74 million in Tesla stock. Here's why he's bullish. - Business Insider

Elon Musk: ‘I’ll say what I want, and if the consequence of that is losing money, so be it’ – CNBC

Elon Musk told CNBC's David Faber on Tuesday that he doesn't care if his inflammatory tweets scare away potential Tesla buyers or Twitter advertisers.

"I'll say what I want, and if the consequence of that is losing money, so be it," said Musk, who owns Twitter.

Musk has for years tweeted controversial items, including conspiracy theories and comments his critics have called broadly discriminatory.

His defense came after Musk caught renewed criticism for a tweet in which he likened liberal billionaire and Democratic donor George Soros to X-Men villain Magneto, a Jewish Holocaust survivor.

"He wants to erode the very fabric of civilization. Soros hates humanity," Musk tweeted Monday.

Musk has previously criticized Soros, whose family office, Soros Fund Management, recently cut its stake in Tesla. Soros, who is also Jewish, is a favorite target of right wing pundits and politicians and often the subject of anti-Semitic attacks. Soros and his family escaped the Nazis during World War II.

Critics said Musk's tweets about Soros fit a larger pattern of attacks on the 92-year-old investor and Democratic donor. "Musk's likening Soros to Magneto isn't casual; it's a nod to harmful antisemitic tropes of Jewish global control," tweeted Alex Goldenberg, an analyst at the Network Contagion Research Institute. Israel's Foreign Ministry, likewise, said Musk's tweets had "anti-Semitic overtones."

Musk on Tuesday denied he's an anti-Semite. "I'm a pro-Semite, if anything," he said when Faber asked him about the criticism. Musk has also previously tweeted and removed memes using Hitler.

Faber on Tuesday also asked Musk why he tweeted a link to someone who said a mass shooting at a Texas mall earlier this month might be part of "a bad psyop," or "psychological operation."

Investigators have probed whether the shooter, whom police killed, had expressed white supremacist views since he wore a "RWDS" patch, a reference to the phrase "Right Wing Death Squad," which is used by extremists. He also had Nazi tattoos, including a swastika.

"I thought this ascribing it to white supremacy was bulls---," Musk said, adding that he thinks there's no proof the shooter was a white supremacist. "We should not be ascribing things to white supremacy if they're if it's false."

Since Musk took over Twitter last fall, the social media network has experienced a sharp decline in advertising revenue as brands and companies assessed changes to the platform and some called out its outspoken new owner.

Last week, Musk hired former NBCUniversal advertising chief Linda Yaccarino to replace him as Twitter's CEO, a move widely seen as a way to jumpstart Twitter's ad business. She started Sunday.

Disclosure: NBCUniversal is the parent company of CNBC.

CNBC's Lora Kolodny contributed to this report.

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Elon Musk: 'I'll say what I want, and if the consequence of that is losing money, so be it' - CNBC