Chief Twit
The Story
Elon Musk’s the new owner of Twitter.
Officially?
Apparently. Musk posted an obscure tweet, signaling he went through with the deal but Twitter has yet to confirm it. The Musk-Twitter dynamic comes off like Daemon and Rhaenyra’s relationship: toxic, messy, and uncomfortable to watch. Earlier this year, Musk love bombed Twitter with a $44 billion proposal. But months later, he tried to pull out, citing fake accounts and spam bots. Twitter didn’t have it in itself to go with grace and sued Musk. Then a judge ordered Musk to close the deal by today. But in Kravis fashion, Musk and Twitter tied the knot earlier than expected.
I’m letting this sink in.
So is Musk. One of his first orders of business: reportedly firing Twitter CEO Parag Agrawal, and other top execs — including its head of legal who was the decision maker behind removing former President Trump from the platform. That, after he allegedly met with employees and denied reports he’ll cut 75% of Twitter’s staff. All of this has people wondering what Twitter will look like under Musk.
Imagining…
Musk pitched his buyout as a win for free-speech absolutists. And said he wants Twitter to be a “digital town square” where beliefs can be debated in a “healthy manner, without resorting to violence.” According to Musk, even his “worst critics” have a place on Twitter. His takeover means people who’ve been kicked off the platform, like Trump or Kanye West, may be welcomed back. Then there’s the whole question about ads. 92% of Twitter's revenue comes from ad sales. And advertisers don’t love love love having their brands associated with violence and hate. The changes also come as the ad market — and media in general — goes through something of a reckoning: with Apple’s recent privacy upgrade and inflation concerns taking a hit on everyone from Twitter to Alphabet to Meta.
theSkimm
The richest man in the world now owns one of the most popular social media sites (ahem, after Facebook, TikTok, and Instagram). The direction Musk takes will likely have a ripple effect on how we communicate…when we hit ‘send tweet.’
And Also...This
What we’re keeping an eye on…
The US economy. Yesterday, a GDP report found that the economy grew last quarter for the first time this year. The news — that the Apple Watch of the US economy is on the up and up — gave investors reasons to pop open the good stuff. The 2.6% annual growth rate was higher than predicted and had President Biden saying it’s “evidence” that our economic recovery is “continuing to power forward.” And simmered recession rumors...for now. A narrowing trade gap (aka when US exports are on the rise) and spending on things like travel were big reasons we saw the boost. But the report also showed that consumer spending, which powers the US economy, slowed down.
…Oh and buying that dream home just got harder. Mortgage rates are peaking over 7% for the first time in 20 years. Guess we’re back to treating Zillow like our Pinterest boards then.
Why we’re checking our medicine labels…
Nitrosamine. Earlier this week, the FDA announced the recall of a blood pressure medication due to a potential cancer risk. Aurobindo Pharma USA says its quinapril and hydrochlorothiazide tablets — typically used to treat hypertension and lower blood pressure — contain nitrosamine. Aka a chemical that’s found in things like water, meat, and beer, but may increase a person's risk of cancer if they’re exposed to high levels over long periods of time. Throughout the years, nitrosamine has sparked multiple recalls of other drugs. While no adverse reactions have been reported yet, the agency says patients should reach out to their doctor and see if they should continue taking it — or find an alternative treatment.
Whose report card says ‘come see me’…
Donda Academy. Yesterday, Ye’s private school reportedly reversed its decision to close its doors. This year, the rapper formerly known as Kanye West founded the Los Angeles-based Christian private school. The mission: to prepare the “next generation of leaders, thinkers, and innovators.” And it gained a lot of buzz and dozens of students. But earlier this week, following the rapper’s antisemitic comments, the principal said it’s taking a hiatus for the rest of the school year — “at the discretion” of its founder. Now, the school has apparently changed its mind and students will be able to get right back to worshiping and taking parkour classes.
…Oh and it’s not the only Ye update yesterday: a new report says Ye wanted to name his 2018 album after Adolf Hitler and that he has an “obsession” with the Nazi dictator. The rapper ultimately went with the eponymous album title, “Ye.”
Who’s got a lot on the line…
Who’s giving Derek Zoolander a run for his money...
Harry Styles as a merman.
When you need a last-minute Halloween costume…
Try ‘tragic space couple.’ Thank you, fake Spirit Halloween memes.
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