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...Trading firm GTS will be the designated market maker for Reddit, having performed the same role with Twitter, Pinterest and Snap. Morgan Stanley and Goldman Sachs are the lead bankers on the deal....
...congressional subpoena should be contingent on the acquiescence of a foreign power”, Blumenthal wrote to his fellow committee members....
...subpoena....
...It asked the court to compel him to appear, “in the face of Musk’s blatant refusal to comply with the SEC’s subpoena”....
...The SEC said that Musk failed to testify on September 15, as required by a subpoena it had issued. It asked the court to compel him to appear. Read the full story here....
...The materials noted that 87 per cent of respondents to Musk’s Twitter plebiscite in January, just after the pay package ruling, were in favour of a move....
...stock” and “his 2022 statements and SEC filings relating to Twitter”....
...The second-tier players — Twitter, Snap, Pinterest and Reddit — take the scraps....
...failed to comply with a subpoena demanding information about their work for the $700bn Public Investment Fund....
...The SEC separately sued Musk in October to compel him to testify as part of a probe by the agency into his 2022 purchase of Twitter, a subpoena he has been fighting in court....
...“We are hard-pressed to think of any other precedent of a company of Tesla’s size basing its path of success on such binary bets,” writes Barclays, apropos the latest thing:https://twitter.com/elonmusk/status...
...“To this day, OpenAI, Inc.’s website continues to profess that its charter is to ensure that AGI ‘benefits all of humanity’,” it adds....
...After the SEC issued its subpoena, Musk tweeted: The SEC began investigating Musk’s Twitter purchases in May April 2022....
...It also sought a subpoena that would force GitHub to reveal anything it knew about the identity of the person who disclosed the code....
...One thing to start: Four firms, McKinsey, BCG, Teneo and Michael Klein’s advisory boutique, have been accused of failing to comply with a US congressional subpoena of documents related to their work with...
...Ironically, Musk has angled for another big Tesla stock grant after selling billions to buy Twitter. His new problem is that, if his appeals fail, his $55bn share pile will return to the company....
...Or will Reddit end up like Twitter/X and Snap, which are big but not as big as Meta, and have struggled to turn users into money as efficiently as Meta has? What, broadly, has made the difference?...
...For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X, formerly Twitter....
...For example, under the FTC’s allegations, Twitter/X is not in the market....
...According to a report in Rolling Stone, Bloys and his team created fake accounts on Twitter, the social media site now known as X, to fight back at television critics online in 2020 and 2021....
...Tesla’s predicament has prompted some to step up their criticism of Musk, who since late 2022 has also been overseeing Twitter, which he renamed X after buying it for $44bn....
...Though as a post-publication postscript we are obliged to note:https://twitter.com/elonmusk/status/1750995501560807465?...
...In 2022, to help fund his Twitter acquisition, Musk sold more than $20bn worth of his Tesla stock, and pledged even more for a $12.5bn margin loan though the latter was never executed....
...Mark Zuckerberg, chief executive of Meta (which has its own virtual reality headset app store) once mused that Twitter’s founders “drove a clown car into a gold mine and fell in”....
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