 Technology |
Technology |
|
|
Fidelity cuts X valuation amid Musk turmoil |
Fidelity has marked down the value of its shares in X Holdings Corp., the parent company of the platform formerly known as Twitter, by 71.5 percent since Elon Musk's purchase of the company. |
© Pavlo Gonchar/SOPA Images/LightRocket via Getty Images |
The investment firm cut its valuation of X by about 10.7 percent in November alone, from an estimated $6.3 million at the end of October to just less than $5.6 million by the end of the following month, according to a recent filing. The social media company faced several controversies at the end of the year. Musk was met with renewed accusations of antisemitism in November after he appeared to endorse a post promoting an antisemitic conspiracy theory. Shortly after, left-leaning media watchdog group Media Matters for America published a series of reports saying it had found ads for mainstream brands placed next to pro-Nazi and white nationalist content on X. As major companies halted their ad spending on the platform, Musk lashed out, telling advertisers to "go f‑‑‑ yourself." "If someone is going to try and blackmail me with advertising, blackmail me with money, go f‑‑‑ yourself," he said at The New York Times DealBook Summit in late November. "Go f‑‑‑ yourself. Is that clear? Hope it is." The outburst punctuated a year defined by setbacks and scandals for the billionaire owner of Tesla and SpaceX. Read more in a full report at TheHill.com. |
Welcome to The Hill's Technology newsletter, we're Rebecca Klar and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. |
|
|
How policy will be impacting the tech sector now and in the future: |
|
|
Elon Musk has faced dozens of setbacks over the past year, from massive advertising losses on X, the platform formerly known as Twitter, to repeated allegations of antisemitism to public legal battles with the Securities and Exchange Commission (SEC) and various watchdog groups. Musk’s latest blow came Friday when X lost its bid to block a California content moderation law. Here's a look back at the billionaire tech mogul's … |
| |
| A foreign exchange student has been found after being reported missing last week, according to local authorities. The student, Kai Zhuang, had been staying with a host family in Riverdale, Utah, at the time of the incident. Riverdale Police said they received a report of a kidnapping Friday. "Officers were contacted by the high school of the missing foreign exchange student," a Sunday press release by Riverdale Police read. … |
| |
|
Chief Justice John Roberts warned that courts will need to consider the proper use of artificial intelligence (AI), portraying it as a new frontier for change in an annual report that follows a turbulent year for the Supreme Court. "I predict that human judges will be around for a while," Roberts wrote in his report. "But with equal confidence I predict that judicial work — particularly at the trial level — will be significantly … |
| |
|
News we've flagged from the intersection of tech and other topics: |
|
|
Smart cars raise tracking alarms |
As cars become equipped with internet-connected features, domestic violence experts warn those smart features may be weaponized in abusive relationships, The New York Times reported. |
|
|
Meta slashes Quest 2 price |
Meta cut the price of its Quest 2 headset model months after launching the Quest 3 model, Tech Crunch reported. |
|
|
Branch out with other reads on The Hill: |
|
|
Google settles $5 billion privacy lawsuit over tracking people using 'incognito mode' |
SAN FRANCISCO (AP) — Google has agreed to settle a $5 billion privacy lawsuit alleging that it spied on people who used the "incognito" mode in its Chrome browser — along with similar "private" modes in other browsers — to track their internet use. The class-action lawsuit filed in 2020 said Google … |
|
|
Interested in exploring a new career? Visit The Hill Jobs Board to discover millions of roles worldwide, including:
Director, Global Affairs — Optica, Washington Apply Delta Regional Authority — Communications Manager, Washington Apply
Principal, Regulatory Policy — Options Clearing Corporation, Washington Apply Journalist, Washington — BBC, Washington Apply Click here to get your job mentioned |
|
|
Two key stories on The Hill right now: |
|
|
Former White House ethics lawyer Jim Schultz, who served under the Trump administration, predicted Monday that former President Trump will “swiftly” … Read more |
| Harvard University President Claudine Gay has resigned from her position after multiple scandals clouded her short-lived administration. … Read more |
|
|
Opinions related to tech submitted to The Hill: |
|
|
You're all caught up. See you tomorrow! |
1625 K Street NW, 9th Floor, Washington, DC 20006 |
Copyright © 1998 - 2024 Nexstar Media Inc. | All Rights Reserved. |
|
|
|
If you believe this has been sent to you in error, please safely unsubscribe.
No comments:
Post a Comment