Tag Archives: Twitter Inc

Bill Gates says we need more Elon Musks to tackle climate change

Bill Gates said the world needs more entrepreneurs like Elon Musk to take on climate change.

“I think what Elon’s done with Tesla is fantastic. It’s, you know, probably the biggest single contribution to showing us that electric cars are part of how we solve climate change,” Gates told CNBC’s Andrew Ross Sorkin in an interview that aired Thursday morning on “Squawk Box.” “We need a lot of Elon Musks, including… ones who work on these super hard categories,” he said, suggesting areas like steel and cement.

The billionaire philanthropist also pointed toward Musk’s carbon removal challenge, which was announced last month. Musk said on Twitter that he would donate $100 million toward a prize for the best technology that can capture carbon dioxide.

“Elon’s done a carbon capture prize, which is an amazing thing,” added Gates, who has a new book called “How to Avoid a Climate Disaster.” It comes at a crucial time, as global carbon dioxide emissions have soared in the past century, leading to unprecedented global warming and climate change.

“I think he should be very proud of what he’s done,” Gates said.

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India rebukes Twitter for not fully complying with government order

The Twitter App loads on an iPhone in this illustration photograph taken in Los Angeles, California.

Mike Blake | Reuters

India rebuked Twitter for not promptly complying with government orders to take down certain content and warned the social media giant that it must follow local laws to operate in the country.

Ajay Sawhney, secretary for the Ministry of Electronics and Information Technology, virtually met with Twitter’s vice president for global public policy, Monique Meche, and deputy general counsel, Jim Baker, on Wednesday.

“Secretary expressed his deep disappointment to Twitter leadership about the manner in which Twitter has unwillingly, grudgingly and with great delay complied with the substantial parts of the order,” the government said in a statement after the meeting.

India ordered Twitter to remove more than 1,100 accounts and posts that it alleges are spreading misinformation about farmers protesting against new agricultural reforms, Reuters reported.

Last month, reports said that protesters clashed with authorities, resulting in hundreds of injuries and one death. Local media reported that authorities have filed charges against journalists and a high-profile opposition MP for tweets about the death but their arrests have been stayed, for now, by the Supreme Court.

(Secretary Sawhney) took this opportunity to remind Twitter that in India, its Constitution and laws are supreme.

Government of India statement

In a public blog post before the Wednesday meeting, Twitter said it only partially complied with the orders. Last week, the social media site temporarily blocked some of the accounts at the government’s behest but said it subsequently restored access “in a manner that we believe was consistent with Indian law.”

The government’s statement said that New Delhi considers the hashtag on “farmer genocide” to be incendiary and baseless, alleging that it was being used to spread misinformation about the protests.

It also characterized some of the accounts that it wants taken down as being “supported by Khalistan sympathizers and backed by Pakistan.” The government did not provide specific evidence for those claims in its statement.

“(Secretary Sawhney) took this opportunity to remind Twitter that in India, its Constitution and laws are supreme. It is expected that responsible entities not only reaffirm but remain committed to compliance to the law of land,” the statement added.

Twitter in its blog post explained it took steps to reduce the visibility of hashtags containing harmful content and suspended more than 500 accounts that were engaging in “clear examples of platform manipulation and spam.”

Other accounts identified in the government’s blocking orders are unavailable in the country but can be accessed from outside India. The company added that it does not believe the actions it was directed to take are consistent with Indian law and refused to restrict the accounts of journalists, activists and politicians.

“In keeping with our principles of defending protected speech and freedom of expression, we have not taken any action on accounts that consist of news media entities, journalists, activists, and politicians,” Twitter said in the blog post, adding, “To do so, we believe, would violate their fundamental right to free expression under Indian law.”

The IT ministry secretary told Twitter that it is welcomed to do business in India but it must still follow Indian laws irrespective of the social media company’s own rules and guidelines, according to the government statement.

India is Twitter’s third-largest market behind the U.S. and Japan and has more than 17 million users there as of January, according to German data firm Statista.

The current face-off against the government puts the U.S. company in a bind where it has to juggle between advocating for the right of free expression of its users and complying with local laws. Reuters reported that Twitter’s top lobbyist in India, Mahima Kaul, has resigned as the company grapples with its growing public relations crisis.

Indian government officials on the other hand are promoting a home-grown Twitter alternative called Koo App and local media reported a surge in users on that site. The IT ministry promoted its own account on the new platform on Twitter.



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Twitter (TWTR) Q4 2020 earnings

Twitter and Square CEO Jack Dorsey speaks during a press event at CES 2019 on January 9, 2019 in Las Vegas, Nevada.

David Becker | Getty Images News | Getty Images

Twitter’s stock was up slightly in after-hours trading on Tuesday after the company reported its fourth-quarter earnings, as the company beat Wall Street’s earnings and revenue expectations. But the company failed to meet Wall Street’s user growth expectations.

Here are the key numbers:

  • Earnings per share: 38 cents, adjusted, vs. 31 cents forecast by Refinitiv
  • Revenue: $1.29 billion vs. $1.19 billion forecast by Refinitiv
  • Monetizable daily active users (mDAUs): 192 million vs. 193.5 million expected, according to StreetAccount

Looking ahead, Twitter said it expects revenue to grow faster than expenses in 2021, assuming the pandemic continues to improve and taking into account an expected “modest impact” from Apple’s upcoming privacy changes to iOS 14. However, the company warned it expects headcount growth of more than 20% this year, with overall expenses increasing more than 25%.

Twitter guided that it is expecting revenue between $940 million and $1.04 billion in the first quarter. Analysts were expecting guidance of $965 million on average, according to Refinitiv.

Twitter’s total mDAUs grew by 5 million from the third quarter to 192 million but fell shy of analysts’ expectations of 193.5 million. The user base was up 26.3% compared to a year ago.

Twitter ad revenue grew 31% year over year to $1.15 billion, according to the report, with total ad engagement growing 35% over the same period.

Twitter noted that revenue from its Mobile Application Promotion (MAP) offering, a part of its direct response ad business, was up 50% year over year in the fourth quarter. The company on Monday announced the launch of its rebuilt MAP product, and said in its earnings report that it “should increase our addressable market and diversify our customer base.”

This is breaking news. Please check back for updates.

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Tesla CEO donates to carbon capture technology prize

GRUENHEIDE, GERMANY – SEPTEMBER 03: Tesla head Elon Musk talks to the press as he arrives to to have a look at the construction site of the new Tesla Gigafactory near Berlin on September 03, 2020 near Gruenheide, Germany. Musk is currently in Germany where he met with vaccine maker CureVac on Tuesday, with which Tesla has a cooperation to build devices for producing RNA vaccines, as well as German Economy Minister Peter Altmaier yesterday.

Maja Hitij | Getty Images

Tesla and SpaceX CEO Elon Musk has announced that he is donating $100 million towards a prize for the best technology that can capture carbon dioxide.

Musk, who overtook Amazon founder Jeff Bezos to become the world’s richest person this month, made the announcement on Twitter late Thursday, saying he would share more details next week.

“Am donating $100M towards a prize for best carbon capture technology,” Musk tweeted to his 42.7 million followers.

Carbon capture is the process of trapping waste carbon dioxide either directly from the air, or just before it gets emitted from factories and power plants.

With the latter, the first step is often to install solvent filters on factory chimneys, which catch the carbon emissions before they’re released into the Earth’s atmosphere. Once captured, carbon dioxide can then be shipped or piped somewhere it can’t escape from (often deep underground) to prevent it contributing to global warming.

Most of the captured carbon dioxide remains underground, but some of it can also used to make plastics and fizzy drinks.

Why is carbon capture needed?

Global carbon dioxide emissions have soared over the last 100 years, leading to unprecedented global warming and climate change.

There are currently around 20 carbon capture, usage and storage (CCUS) projects operating commercially worldwide, according to the International Energy Agency.

The agency said that 30 new projects had been agreed since 2017, but stressed that many more were needed to prevent carbon emissions from raising the temperature on Earth by more than 1.5 degrees Celsius above pre-industrial levels.

The IEA believes CCUS projects could reduce carbon emissions by almost a fifth, while also slashing the cost of tackling the climate crisis by 70%. Adapting heavy industry to run on clean energy is relatively difficult and expensive compared to installing carbon capture systems.

U.S. President Joe Biden has pledged to put more of a focus on cutting emissions than his predecessor and said he wants the U.S. to be carbon neutral by 2050.

‘Plant more trees’

The prize that Musk has said he will contribute to is connected to the Xprize Foundation, TechCrunch reported, citing an anonymous source. The foundation is a nonprofit that puts on competitions to promote and support innovation.

According to the Bloomberg Billionaire Index, Musk has a total net worth of $201 billion, while Bezos has $193 billion. Microsoft founder Bill Gates is the next wealthiest person, with a total net worth of $134 billion.

Musk recently asked his Twitter followers what he should do with his money.

“Critical feedback is always super appreciated, as well as ways to donate money that really make a difference (way harder than it seems),” he tweeted Jan. 8.

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