Business, Financial & Legal News - Page 17

Elon Musk has implemented a new strategy with the goal of attracting advertisers back to the social media platform X, formerly called Twitter.

When Elon Musk purchased what was Twitter for $44 billion in October 2022, the platform saw a dramatic drop in advertising expenditure as companies were concerned about the changes Musk planned on implementing when it came to content moderation.

The Tesla CEOs changes expanded what content could be posted on Twitter, under the guise of freedom of speech. Advertisers were concerned that their ads would appear alongside content that doesn't necessarily represent their brand or was just entirely inappropriate.

The company behind MrBeast's ghost kitchens has counter-sued the famous Youtuber for an astonishing $100 million.

The counter lawsuit came after Jimmy Donaldson, aka MrBeast, filed a lawsuit against Virtual Dining Concepts, alleging the company prioritized rapid expansion of high-quality products, resulting in food quality levels dropping to an inappropriate standard.

Donaldson's lawsuit alleges that many customers reported receiving their burgers with raw meat, were burnt, contained bugs, and other major problems. Furthermore, MrBeast's lawsuit claims that Virtual Dining Concepts (VDC) has not paid MrBeast and has used the YouTuber's image without his permission.

Elon Musk has fired back at Meta CEO Mark Zuckerberg following his recent comments about the highly anticipated bout between the two billionaires.

It was only a few days ago that Elon Musk reignited the highly anticipated fight with Mark Zuckerberg after posting on his personal X account that he is taking weights to work in preparation for the coming fight. Additionally, Musk posted that the fight would be live-streamed on X, which Zuckerberg replied to on his personal threads account, "Shouldn't we use a more reliable platform that can actually raise money for charity?"

It wasn't long before Musk fired back at Zuckerberg, but his response seemingly has fallen short in terms of topping his opponents' last comments, with the Tesla and SpaceX CEO writing that he is undergoing medical examination that may result in required surgery before the fight. Musk responded to a post on X regarding the fight, saying, "Exact date is still in flux. I'm getting an MRI of my neck & upper back tomorrow. May require surgery before the fight can happen. Will know this week."

The Elon Musk versus Mark Zuckerberg cage fight seems to be back on the cards after the Tesla CEO tweeted where the fight would be live-streamed.

The flight between the two billionaires was thrown into doubt when Mark Zuckerberg said during a company town hall meeting at Meta that he wasn't sure if the fight was "going to come together." The doubt from Zuckerberg came from leaked audio from inside the company town hall meeting, acquired by Reuters. Following the statement from Zuckerberg, the fight between the Meta CEO and Musk seemed to be on the ropes, with minimal chance of fruition.

However, the fight seems to be back on as Musk has taken to his personal X account to announce that the MMA bout will be live-streamed exclusively on X and that all of the proceeds generated from the event will be donated to charities for veterans. To further back up the argument that the fight is going to happen, Musk also tweeted that he has been lifting weights throughout the day to "prepare for the fight", and that he's been bringing weights with him to work as he doesn't have time to work out.

Twitch streamer Kai Cenat has been arrested after a giveaway event in Union Square got completely out of hand.

Popular Twitch Streamer Kai Cenat was at the center of a massive gathering in New York City's Union Square on August 4, following his announcement of a huge giveaway of PCs and PlayStation 5s.

The 21-year-old content creator directed thousands of his fans to Union Square for the giveaway, but the event quickly turned into pandemonium as fans of the streamer began blocking traffic, destroying vehicles, causing damage to buildings within the surrounding area, and engaging in violence with the New York Police Department.

A new report has claimed that X has put out a call for financial data giants to construct a dedicated trading hub within the X app.

According to Semafor that claims it saw X's request for plans and spoke to people familiar with the matter, X is planning on constructing a trading hub within the app, which ties perfectly into X owner Elon Musk's overall vision of converting the social media platform into "the everything app". The publication states that the request for plans was sent out to multiple big providers, and each was requested to provide a proposal for how such an idea would be implemented.

Notably, the request states that X will offer the bidders a chance to reach "hundreds of millions of highly-qualified users," while also stating it won't be providing any compensation for the project. In fact, Semafor reports that the request asks companies to state how much money they would be committing to the project. Furthermore, the publication writes that it needs to be clarified which companies, if any, followed through with proposals, which were due sometime last week.

James "MrBeast" Donaldson has filed a lawsuit against the company that he used to get MrBeast burgers out into so many stores.

MrBeast partnered with Virtual Dining Concepts to create what is commonly referred to as ghost kitchens, which are then used to fulfill orders of MrBeast Burgers. So, here's how it works. In 2020 MrBeast Burgers could only be ordered online, and once an order is placed, a verified ghost kitchen accepts the order and completes it. Each of these ghost kitchens are equipped with all of the ingredients/equipment to create MrBeast Burgers, and the venture was an incredible one during the pandemic as it kept many struggling businesses afloat.

However, not all went to plan, or at least that's what we are finding out now. According to MrBeast's lawsuit, which claims that Virtual Dining Concepts, a Florida-based company, has prioritized rapid expansion over delivering high-quality products. The lawsuit claims that Virtual Dining Concepts has not paid MrBeast and was unable to keep the quality to an appropriate standard, with many customers reporting receiving their burgers with raw meat, burnt, containing bugs, and much more.

Elon Musk has taken to his X account to inform the public that he is pushing for creators to get more money from their posts.

The social media platform owner took to his X account on August 3 to ask the public to support creators by subscribing to their accounts. Musk asked if individuals that can afford to support creators should do so, as people from every corner of the world post incredible content on the platform and that these people should be rewarded for the content that they post as only a few hundreds dollars a month could be life changing.

Musk went on to say that previously it was announced that X would be keeping nothing for the first 12 months of a subscription, then 10% after the 12 months. Now, The social media platform will be keeping nothing forever, until the payout exceeds $100,000 then the 10% tax will kick in.

Only a matter of days after getting X's new logo set up on top of the San Francisco headquarters has it been removed.

New reports indicate that Elon Musk's new logo that was constructed atop the San Francisco headquarters has been removed following complaints from the city, along with neighbors that complained about the sign's immense brightness. Musk recently rebranded Twitter to X, leaving behind the iconic bluebird for a solid X letter, which plays into Musk's affinity with the letter (SpaceX, Tesla's Model X, and his son named X Æ A-12).

The logo change was quick and fast, with most people writing that the change was jarring while also slightly confusing as many other regions of the social media platform still feature the "Twitter" verbiage. The new X sign was put up on Friday, and over the weekend, many X users discussed the new branding along with the impact the sign had on the surrounding environment. Noting that the sign was pointed at a building across the street, which the sign lit up clearly during the night.

Freedom of speech has yet again become a massive topic on X, formerly Twitter as the platform has announced its launched legal claims against the Center for Countering Digital Hate (CCDH), a non-profit that focusses on mitigating online hate speech and disinformation.

These legal claims came after the CCDH published a report that claimed X fails to act on 99% of Twitter Blue accounts hateful tweets/content. The CCDH arrived at this figure by taking 100 hate-speech centered tweets from Twitter Blue accounts and monitor them for four days. After the four days only 1 of the posts were removed, leading to the assumption that 99% of hate speech content from Twitter Blue accounts X fails to act upon.

The article caught the attention of X, which denied all of the CCDH allegations and the non-profit promptly received a letter from Elon Musk's lawyer Alex Spiro, who represents X Corp, the company that owns X. The letter from Spiro alleged that the CCDH's methodology to arrive at the alleged 99% was false, and went on to claim that the CCDH is taking money from X's competitors to run smear campaigns against the social media platform.