Twitter’s capitalization plunged on Friday, falling short of $20 billion in an unexpected turn of events. This is highly unexpected, especially in light of Elon Musk’s astronomical $44 billion acquisition price. But why did the value suddenly decrease? It appears that the inexplicable publication on GitHub of some confidential source code may be related. As time passes, investigators keep looking for solutions while Twitter’s future hangs in the balance.
The New York Times acquired an email from Musk to his staff in which he announced a new stock award program and informed them of the company’s devaluation as well as the necessity to make “radical changes” going forward, including layoffs, in order to avoid bankruptcy. He spoke Everyone should see the social media site as a “inverse start-up” since “Twitter is being reshaped rapidly.”
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Elon Musk, a pioneering businessman, has devised a special equity incentive plan for Twitter employees that is based on the effective strategy employed by his business SpaceX. Employees won’t get stock awards from Twitter directly; instead, they’ll get them via X Corporation, the holding company Musk established to buy Twitter. Every six months, these grants may be sold or paid in, offering a tremendous incentive for motivated employees wishing to make an investment in their future.
Elon Musk gave some fascinating ideas on Twitter’s future in a missive that is creating a lot of discussion. Even while he thinks Twitter will one day be worth a jaw-dropping $250 billion, he also raised the alarm about a possible bankruptcy in the not-too-distant future. Introducing Twitter Blue, one of Musk’s newest initiatives to increase the platform’s revenue as more established accounts disappear and users begin paying for their coveted blue checkmarks. Overall, there is a lot of ambiguity around Twitter at the moment, but with Musk involved, we can anticipate some intriguing twists and turns in the future.
In a flash of activity, Twitter showed off their quick thinking by effectively taking down a priceless chunk of proprietary source code from the internet. All of this happened on the same day that Tesla CEO Elon Musk distributed a document outlining stringent information security guidelines for his staff to follow. The legal team at Twitter even went so far as to obtain a court order to find the enigmatic FreeSpeechEnthusiast who posted the code leak on GitHub. Both businesses obviously take the security of sensitive information seriously.
To reveal the identity of the mystery FreeSpeechEnthusiast, Twitter has filed a lawsuit. Twitter withdrew the code and issued a subpoena to the US District Court for Northern California after submitting a copyright claim to GitHub. By gathering their contact details, including IP addresses, they seek to discover who the anonymous agitator is. This legal action demonstrates Twitter’s commitment to defending its platform against users who misuse their right to free expression.
Twitter claimed in the court document, “The purpose for which Twitter’s DMCA Subpoena is sought is to obtain the identity of an alleged infringer or infringers, and such information will only be used for the purpose of protecting Twitter’s rights.”
