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Elon Musk Continues to Seek a Way Out of his $44 Billion Twitter Takeover Deal

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Elon Musk Sells of Tesla Stock in Preparation for Possible Twitter Deal

That Elon Musk certainly is proving to be a rascal, as he continues to seek a way to wriggle out of his $44 billion Twitter takeover deal.

With the Twitter v. Musk trial scheduled for October 17th – just 34 days away – Musk’s legal team has been desperately seeking either a delay of the hearing, in order to better prepare their defense (or just to hold things up even more, in the hopes that will help him avoid payment), or to get the case dismissed entirely, on increasingly spurious legal grounds.

But questionable approaches or not, Musk’s lawyers are certainly doing their job, exploring every avenue they possibly can to extricate Musk from the deal, if there’s any possible way to do that.

Which, there’s probably not. But still, worth a try.

Team Musk’s latest proposed case for dismissal comes on the back of Peiter ‘Mudge’ Zatko’s various accusations against Twitter over its internal operations, and flaws in its reporting and security systems.

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Zatko, who was employed by Twitter between late 2020 and early this year, was dismissed, Twitter says, due to ‘poor performance and leadership’, though he was paid out a handy $7 million for his time.

That payment is now the basis of Musk’s latest legal appeal against the takeover deal, with Musk’s legal team arguing that the millions of dollars that Twitter paid to Zatko are actually in violation of the terms of the deal.

Because Zatko and Twitter came to the settlement agreement in June – after the Musk takeover deal had been agreed to – Musk’s team says that this is a major change in the scope of the company, which is not allowed under the terms of the takeover deal.

Though Twitter moved quickly to shut down that suggestion:

“Twitter has breached none of its representations or obligations under the Agreement, and following the receipt of the approval of Twitter’s stockholders at its September 13, 2022 special meeting, all of the conditions precedent to the closing of the Merger will be satisfied.”

As noted, Twitter’s shareholders are meeting this week to vote on the Musk takeover, which is the final step, in Twitter’s view, to securing the deal. Twitter has urged shareholders to accept Musk’s $44 billion offer, and the expectation is that the vote will go through without a hitch.

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Which will then clear the way for the final settlement, which Twitter’s legal team remains absolutely confident will eventually go through, after the October hearing.

Musk’s team, on the other hand, seems far less assured, pulling out every trick and loophole that they can find to push back. None of those efforts have held up so far, though that doesn’t mean that they won’t find some other technicality to get Musk off the hook when the hearing does actually have its day.

It’s worth noting that Musk has previously been able to utilize a range of legal loopholes and technicalities in various other legal actions that have been brought against him.

Back in 2019, after Musk baselessly accused a cave diver of being a pedophile via tweet, and was subsequently sued for defamation by said diver as a result, Musk’s legal team was eventually able to get the case dismissed entirely, because Musk didn’t technically mention the accused in the offending tweet.

What Musk did say was this:

So it’s pretty clear who Musk was aiming his comment at, but he didn’t specifically name anybody, which Musk’s legal team was able to argue raised significant enough doubt over his actual intent.

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In other words, they’re good, and they can find and prosecute legal loopholes pretty well – which, of course, is what you’d expect when they’re working for the world’s richest man.

As an aside, Musk also hired a private detective to dig up dirt on the man that he’d labeled a pedophile – for no reason – as part of the case. So again, Musk and Co. will do whatever has to be done to win, and you can expect that they will indeed turn over every leaf and try every avenue of appeal in the process.

But on balance, it seems like Twitter’s legal team has come prepared for this. Knowing how Musk operates, they do seem to have established very solid contractual terms and obligations, that will be tough for Musk to wriggle out of.

I still wouldn’t be surprised if Musk’s legal team does, somehow, find a way out, but at this stage, it seems increasingly unlikely.

Maybe, given that he’s been able to slink out of various other obligations in the past, Musk’s arrogance is actually the weak point here, and he’s actually locked in.

We’ll find out soon, with a judge to decide whether any of Team Musk’s various accusations actually hold any bearing in the legalities of the agreement.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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