Twitter’s second quarter revenue of $1.18 billion underperformed 2021 by only one percent but fell short of estimates by more than 10 percent, disappointing Wall Street, which projected revenue of $1.32 billion for the period. Advertising crept up two percent, to $1.08 billion, but overall Twitter had a quarterly net loss of $270 million, largely attributed to recessionary headwinds and uncertainty about Elon Musk’s proposed takeover. In its earnings report, Twitter said its lawsuit against Musk has been granted an expedited trial for October 2022. Continue reading Ad Market and Musk Credited for Twitter’s Missed Earnings

Elon Musk is attempting to terminate his $44 billion deal to acquire social giant Twitter. Musk’s attorneys claimed in a regulatory filing that Twitter was in “material breach of multiple provisions” of the purchase agreement and “appears to have made false and misleading representations.” According to Twitter board chairman Bret Taylor, “The Twitter board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.” The deal includes a $1 billion “breakup fee” and the company can hold the billionaire to his original agreement by taking him to court. Continue reading Elon Musk Notifies Twitter of Plan to Cancel Acquisition Deal

The European Union unveiled a new code of practice for disinformation, a glimpse at the regulation Big Tech companies will be dealing with under upcoming digital content laws. Meta Platforms, Twitter, TikTok and Google have agreed to the new rules, which update voluntary guidelines. The revised standards direct social media companies to avoid advertising adjacent to intentionally false or misleading content. EU policymakers have said they will make parts of the new code mandatory under the Digital Services Act. Platforms agreeing to comply with the new rules must submit implementation reports by early 2023. Continue reading European Union Creates Code of Practice on Disinformation

Amazon is combatting inventory shortages with a new invite-based ordering protocol for high-demand products, starting with U.S. fulfillment of the Sony PlayStation 5 game console, followed by Microsoft’s Xbox Series X. The idea is to prevent hoarding by “scalpers” who program bots to buy in quantity then resell the items at significant markup. Participation does not require Prime membership, merely a request for the invitation. Amazon plans to roll the program out to more countries as it strives to ensure a positive shopping experience for individual customers and households. Continue reading Amazon Intros Invite-Based Ordering for High-Demand Items

Twitter’s tumbling stock price has spectators second-guessing Elon Musk’s motives in demanding more information for the acquisition deal to proceed. The billionaire’s “best and final” offer of $54.20 per share is now looking like a rich deal for Twitter, which has been hovering at about $38 per share. The Twitter board is understandably intent on keeping the $44 billion offer and $1 billion breakup fee in place, even as Musk tweeted ““this deal cannot move forward” until he sees proof of the company’s claim that spam and bots account for less than 5 percent of users. Continue reading Stock Volatility at Twitter and Tesla Roil Musk’s Buyout Plans

Nearly $30 billion was spent on NFTs last year, according to analytics firm Chainalysis, and one of the companies that’s benefitted from the boom is OpenSea. The firm has a $13 billion valuation thanks to its well-timed entry into the hot new sector, becoming one of the biggest NFT marketplaces in the world. With success has come headaches, as scam artists began to target NFTs and the people who buy and sell them. Now the four-year-old New York firm and other marketplaces are struggling to find a balance between boomtown and lockdown. Continue reading Cybercriminals Target NFTs on OpenSea, Other Marketplaces

Google Cloud recently unveiled a new AI-powered service product named Bot-in-a-Box. The feature, available via Google Cloud Platform (GCP) Business Messages, will help enterprises easily manage conversations with their customers. Bot-in-a-Box creates chatbots that can naturally respond to customers’ questions by using Google’s Dialogflow software. The conversational bot does not require any additional coding but will learn directly from businesses’ customer service data. The new product is expected to cut the customer service budget for businesses and improve the service level of chat function on GCP Business Messages. Continue reading Google’s Bot-in-a-Box Brings Conversational AI to Enterprises

Twitter is testing a new feature that allows bots to self-identify with a label on their account profiles. Although the feature will allow users to differentiate automated accounts that perform legitimate services — such as retweeting news, providing customer service, PSAs or community alerts — it will not flag the problematic “bad bots” that spread misinformation and spam. Last year, Twitter requested developers specify if an account was a bot, who was powering it and its intended use. The new automated accounts to designate “good bots” will be issued to more than 500 accounts for testing and feedback before they are made available to all developers. Continue reading Twitter Asks Developers to ID ‘Good Bots’ Using New Badge

Analytics firm Pixalate has announced $18.1 million in growth capital for connected TV and mobile advertising initiatives. The new round brings total capital raised to $22.7 million for the 9-year-old firm, which specializes in fraud prevention, privacy protection and legal compliance via offices in Santa Monica, Palo Alto and London. The move comes as Pixalate rises to meet the challenges of enterprise clients fending off bot attacks, ad fraud and other malicious threats. Malware incursions by intruders like Puppeteer siphon tens of millions of dollars in annual ad revenue, according to Pixalate. Continue reading Pixalate Raises $18.1M to Combat Click Tricks and Ad Fraud

Google is providing full access to Workspace (formerly G Suite) for its 3+ billion existing users in consumer, enterprise and education markets. Users turn on Google Chat in Gmail to enable the full experience. Although Google Drive and Docs have already been free, Workspace brings features such as smart suggestions in emails and documents. Google is also debuting Google Workspace Individual, a paid version aimed at small business owners, offering “booking services, professional video meetings, personalized email marketing” and more. Continue reading Google Expands Workspace Features and Opens to All Users

A recently fired Facebook data scientist, Sophie Zhang, sent a 6,600-word memo giving specific examples of how the social media company ignored or was slow to act on solid information on fake accounts undermining global politics and elections. That included her proof that, in Azerbaijan and Honduras, government leaders and political parties used fake accounts to shift public opinion. She found similar evidence of coordinated campaigns to impact candidates or elections in Bolivia, Brazil, Ecuador, India, Spain and Ukraine. Continue reading Ex-Facebook Scientist Reveals Slow Action on Fake Accounts

Facebook and Twitter reported that the Internet Research Agency in Russia, which reportedly interfered in the 2016 U.S. presidential election, is again using fake accounts and created Peace Data, a fake left-wing website. With the likely goal of influencing the 2020 election, it is believed to be spreading disinformation about Democratic presidential candidate Joseph Biden. U.S. intelligence agencies have warned for months about Russian meddling. Both social platforms have already taken steps to address such disinformation; most recently, Facebook announced plans to block political ads one week before the November election and Twitter is adding more context to Trending Topics. Continue reading Russia Pushes More Disinformation via Facebook and Twitter

After testing earlier this year, Twitter has introduced settings that allow users to control who can reply to tweets. Twitter is responding to widespread pressure to combat chronic hate speech, misogyny and harassment. Twitter director of product management Suzanne Xie wrote that, “we’ve seen people use these settings to have conversations that weren’t really possible before,” adding that, “starting today, everyone will be able to use these settings so unwanted replies don’t get in the way of meaningful conversations.” Continue reading Twitter Debuts Reply Feature to Prevent Chronic Harassment

Byte, a video-sharing app created by Dom Hofmann, debuted Friday and hit No. 1 for free iOS apps in Apple’s U.S. App Store. Byte, which targets rival ByteDance’s TikTok, is a reboot of the former Vine video-sharing service Hofmann co-founded in 2012 and sold to Twitter that year. Twitter couldn’t find a way to make Vine profitable and shuttered it in 2016. In its short life, Vine became a “cultural touchpoint” as users took on the creative challenge of the six-second format. Byte is also the top free iOS app in Canada. Continue reading Free Video-Sharing App Byte Aims to Compete with TikTok

The NATO (North Atlantic Treaty Organization) Strategic Communications Centre of Excellence, an independent group that advises the organization, conducted a test to see how well big tech companies such as Facebook and Twitter are doing in filtering out paid influence campaigns that use automated bots and other means to manipulate social media. It did so by hiring 11 Russian and five European companies in the business of selling fake social media engagement and found that a small amount of money could cause a lot of damage. Continue reading Study Reveals Power, Reach of Paid Influence Campaigns