Elon Musk

Elon Musk to unveil Tesla’s ‘Master Plan 3.’ What to expect for us?

Elon Musk, the CEO of Tesla, said on Twitter on Wednesday that he will unveil the eagerly anticipated Master Plan 3 on March 1 at the company’s investor day.

Tesla announced it will discuss its next-generation vehicle platforms at the forthcoming investor day, which will be held at its gigafactory in Texas. Elon Musk has said that these platforms would result in a car that costs around half as much as Tesla’s current vehicle underpinnings. The session will be broadcasted live.

The company said that some retail and institutional investors will be welcome to attend in person. According to the company, investors will be able to tour its manufacturing facility and speak with members of the leadership team about issues such as the company’s long-term expansion goals, its generation 3 platform, and capital allocation.

Also Read: Tesla is getting cheaper. Is it a good move by Elon Musk?

Musk originally made vague promises to increase Tesla operations to “extreme size” in his Master Plan 3 hints from last March. He also touched on issues like AI and said that his other companies, SpaceX and The Boring Company, would be a part of this next phase of the plan.

On Wednesday, there was a new update. He tweeted, “Master Plan 3, the path to a fully sustainable energy future for Earth will be presented on March 1.”

In 2006, Musk published a blog entry on Tesla’s website explaining what he referred to as the Master Plan. The four-step approach began with the development of a high-priced, low-volume vehicle, and then used the proceeds to fund the creation of a medium-volume, lower-priced car.

An affordable, high-volume car would be produced with the money made from the medium-volume car. The plan concluded with the phrase “provide solar power.”

Part two, or Part Deux, was introduced in 2016 with the goal to “create stunning solar roofs with seamlessly integrated battery storage,” expand Tesla’s EV product line to include all key market segments, and provide self-driving technology that is ten times safer than manual.

Also Read: Why is Meta shutting down Echo VR?

The plan also claimed that owners will be able to use ride-sharing to leverage self-driving technology and profit from their unused vehicles. In part two, Tesla did not check off all the boxes. The Cybertruck, which is apparently a part of the strategy to extend the EV line of products, has not yet been released.

Despite the branding, its advanced driver-aid technology does not drive itself, so owners cannot convert their cars into money-making robot axis. Musk appears to be prepared to continue with Part 3 anyway.

Last year, Tesla shares experienced their worst yearly performance as a result of Musk selling Tesla shares to pay for his acquisition of Twitter and other shareholders losing faith in his commitment to the automaker, whose sales growth fell short of expectations.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Twitter to start charging developers for API access

Twitter will stop providing free access to the Twitter API on February 9 and instead will release a paid version as the mini-blogging platform owned by Elon Musk tries new ways to profit from the platform.

The Twitter Developer account announced in several tweets that the company will be discontinuing assistance for both the legacy v1.1 as well as the latest v2 Twitter APIs. It did not say how much it intends to begin charging for API usage right away.

The change comes after Twitter suddenly changed the conditions of its API over the past weeks, the API seems to have been used by many famous Twitter service users, including Tweetbot and Twitterrific. The majority of third-party Twitter applications have discontinued their mobile apps.

“Twitter data are among the world’s most powerful data sets. We’re committed to enabling fast & comprehensive access so you can continue to build with us,” the Twitter Dev account said Thursday. “Over the years, hundreds of millions of people have sent over a trillion Tweets, with billions more every week.”
Source: techcrunch.com

In light of recent modifications which saw Twitter shutter third-party customers, several other application developers became wary of how they progressed development atop the Twitter API. This new change may force some devs to give up their brands or pass the expense on to their consumers.

Also Read: Why major advertisers are leaving Twitter?

Large numbers of developers use the Twitter API for a variety of purposes, including monitoring Twitter accounts and providing alerts. These are enjoyable side projects for those who are unwilling to pay service charges for something which they are not monetizing.

Then there’s yet another type of Twitter API user, the researchers. Twitter’s latest revelation could have an influence on research in a wide range of sectors, such as hateful speech and online harassment.

Academic institutions frequently use Twitter to understand human behavior in various regions. Limiting free API usage could also deter companies from developing methods to detect the dissemination of false information on Twitter.

Ever since its founding, Twitter has had an odd relationship with developers. But, even though there was an inconvenience, both parties benefitted from the relationship.

Also Read: What Does Twitter 200 Million User Email Leak Actually Mean?

Third-party companies were frequently the ones releasing new services and features for Twitter, and the social media platform helped by not charging people for API usage.

Twitter has even aimed to improve relationships with developers in recent times by introducing new programs such as the Twitter toolkit for app discovery. Several of these initiatives have been halted under the new administration.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

Why major advertisers are leaving Twitter?

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Elon Musk’s Twitter deal was met with swift criticism. One of the four biggest advertising agencies, IPG Megabrands, urged their clients to halt advertising Twitter just days after the acquisition. Along with these other businesses, paid advertisements on the platform have been suspended by Pfizer, General Motors, and Volkswagen.

Ninety-two percent or so of Twitter’s overall revenue in 2021 came from advertising. If there was any doubt before, it is now evident that Musk must wean Twitter off its dependence on advertising revenue in order for his vision for the company to succeed.

At Twitter, Elon Musk has had a very busy week. His most active users will now need to pay a monthly fee, and he has sacked half of his workers and told the other employees they may no longer work remotely.

Also Read: Ad Spending on Twitter Falls by Over 70%

He has also criticized advertising. Elon Musk in his tweet on Friday claimed that Twitter had experienced a “massive drop in revenue” as more advertisers choose to stay away from what can only be called a turbulent transition.

It’s important to note that overall spending on digital advertising has decreased as the economy faces its own uncertainty. Additionally, it appears that everything is being done to divert attention from the mass layoff issue.

Musk tweeted about advertising again later though. This time, it was in response to a request that Musk “name and shame” companies who have halted their advertising. He tweeted, “A thermonuclear name & shame is exactly what will happen if this continues.”

It appears that 50 out of the top 100 advertisers on Twitter have halted advertising on the platform. These 50 advertisers have spent about $2 billion on Twitter advertisements since 2020, and more than $750 million only in 2022, according to research from Media Matters for America.

Also Read: What Does Twitter 200 Million User Email Leak Actually Mean?

Based on the report, which was released on Tuesday, seven new companies have reduced their advertising to nearly nothing. Since 2020, these businesses have paid Twitter over $255 million for advertising. Chevy, Chipotle Mexican Grill, Ford, Kyndryl, Jeep, Merck & Co., and Novartis AG all made announcements concerning the suspension of Twitter advertisements, or it was rumored and confirmed that they had done so.

The others stopped using the site to advertise for a significant period of time following direct outreach, controversies, and media buyers.” The day following an account pretending to be from Eli Lilly and Co. posted, “We are excited to announce insulin is free now,” the pharmaceutical business ceased running advertisements on Twitter.

The post was left up for hours despite Eli Lilly’s request for Twitter to remove it because the company’s staff was overworked as a result of recent firings and resignations. Eli Lilly’s shares fell shortly after the tweet received thousands of likes and hundreds of retweets.

Advertisers have stopped spending on Twitter advertisements because they don’t want to pay for ads that would randomly start appearing next to violent or racist content. They want assurances that the situation won’t worsen into an even worse swamp than it already is.

Musk hasn’t taken any action to reassure them that it won’t. Instead, he simply continues to use his “management by chaos” approach. He believes it works for him, however, brand stability and predictability are what advertisers desire.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Ad Spending on Twitter Falls by Over 70%

Leave a Comment / News, Tech News / By Suhani Jain

As per some data from an advertising research company, advertising spending on Twitter Corporation declined by 71 percent in December, since top marketers cut their investment in the social media network following Elon Musk’s buyout.

The latest Standard Media Index (SMI) figures come as Twitter attempts to overturn the advertiser exodus. It has launched several measures to woo back advertisers, including providing a few free advertising, removing a restriction on political ads, and giving businesses more control over the placement of their ads.

According to SMI data, advertising spending on Twitter dropped 55 percent from the previous year in November, irrespective of the fact that these months are traditionally times of relatively high advertising expenditure since brands advertise their goods during the holiday rush.

Twitter did not respond right away to a request for a reply from Reuters.

According to a research firm, Pathmatics estimates, most of the businesses stopped investing in November, the very same month Musk recovered eliminated accounts as well as launched a paid account identification that ultimately led to fraudsters imitating companies.

Also Read: DOJ poised to sue Google over digital ad market dominance

According to Pathmatics, soft drink brand Coca-Cola stopped investing in Twitter ads in the October middle of 2022 after investing an estimated 1.1 million USD previously in the month, whilst also tv network HBO’s investment dropped from 1.1 million USD in November to 38,000 USD in December.

Other consumer brands, including Nestle as well as Heinz ketchup producer Kraft Heinz, have also suspended all advertising.

According to Pathmatics estimates, 14 of the best 30 advertising companies on Twitter ceased all marketing on the company after Musk took over on Oct. 27.

Musk discussed the problem of businesses pausing advertisements in an event in November on Twitter Spaces, saying that he knows if advertising companies “want to give it a minute.”

At the same time, Musk accused activist communities of forcing advertisers to pull advertisements from the social media platform. Advertising revenue generates roughly 90 percent of Twitter’s earnings.

Twitter’s fourth-quarter sales dropped 35 percent year by year due to a drop in marketing, according to the Info, referencing detailed knowledge by a leading Twitter ad executive at a team meeting last week.

Suhani Jain

Tesla is getting cheaper. Is it a good move by Elon Musk?

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Following a series of price cuts last week in Asia, Tesla reduced prices across the US, Europe, the Middle East, and Africa. Analysts viewed this move as a direct jab at both its smaller rivals who have been bleeding money and the traditional automakers who are hurriedly ramping up their production of electric vehicles.

According to adjustments made to the pricing of vehicle listings on its website on Thursday, the EV company has lowered costs on some of its popular models, such as the Model Y SUV and Model 3, by close to 20% across the USA and Europe. Even while the cars are still rather pricey, the premium pricing has significantly decreased.

Additionally, it’s a hint that Tesla is defending itself after months of gradually raising the prices of its cars. Price reductions follow the company’s failure to meet market expectations for deliveries last year, which coincided with an economic slump that reduced its market valuation from a peak of $1 trillion to less than $400 billion.

Customers from the United States and France may benefit from the federal tax credits and discounts offered in each nation for specific electric vehicle purchases.

Also Read: What Does Twitter’s 200 Million User Email Leak Actually Mean?

Before a $7,500 federal tax credit became available for several electric vehicles on January 1, those price reductions—which might reach as high as 30%—were already in place. Tesla also reduced the price of its Model S sedan and premium crossover SUV in the US.

Without identifying which costs were decreased, a spokeswoman for Tesla Germany claimed that cheaper price inflation was also a contributing element in price reductions in its top European market.

Tesla reduced the cost of the Model 3 and the Model Y in Germany by anywhere between 1% and approximately 17%. The most popular Model Y will now cost 44,890 euros ($48,499), which is a decrease of 9,100 euros.

Additionally, it brought down costs in Austria, Switzerland, and France. Customers in France purchasing the Model 3 for 44,990 euros will now receive a further discount thanks to a 5,000 euro government subsidy on an electric vehicle programme with a 47,000 euro threshold.

Since taking over Twitter, Musk has progressively expressed his displeasure with the Fed’s strong interest rate hike strategy to drive inflation down slightly to its objective of 2% on the network.

Also Read: Why Are US States Banning TikTok from official devices?

Tesla has suffered because of the increase in interest rates. Its stock lost favour with investors for the same causes that tech stocks as a whole are down; speculative businesses that gamble on the future are currently less enticing to investors than safe-haven value assets like commodities.

Since taking over Twitter, Musk has progressively expressed his displeasure with the Fed’s strong interest rate hike strategy to drive inflation down slightly to its objective of 2% on the network.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Twitter reverses longstanding ban on political advertising

Leave a Comment / News, Tech News / By Suhani Jain

Twitter, the renowned social media networking site, has officially confirmed that it will loosen up the bans on political advertisements that had been placed in 2019.

Twitter opted to lift the long-standing ban on January 3, enabling numerous political actors as well as elected representatives to resume cause-related promos. Elon Musk, the CEO of Tesla, took over Twitter and implemented numerous policy changes.

This decision was taken when it was revealed that the firm is already in financial trouble. In 2019, the firm chose to prohibit particular types of Politics ads, justifying that political influence must be “obtained” instead of being “bought”.

Although the social media went back on these wordings on January 3.

On the company’s Twitter Safety account, the move was announced with a tweet that read, “We believe that cause-based advertising can facilitate a public conversation around important topics. Today, we’re relaxing our ad policy for cause-based ads in the US. We also plan to expand the political advertising we permit in the coming weeks.”
Source: republicworld.com

Twitter’s advertising policy will now be aligned with the policies of television as well as other media sources, according to the company.

Making it clear that the move is still at a preliminary stage, the company wrote, “As with all policy changes, we will first ensure that our approach to reviewing and approving content protects people on Twitter. We’ll share more details as this work progresses.”
Source: republicworld.com

As reported by the New York Times, Elon Musk has previously stated that among his goals following Twitter, the takeover is to relax its rules regarding content moderation.

Twitter is going through a financial crisis currently, with reports claiming that the firm is cutting significant costs. Previously, the Tesla CEO’s approach to content moderation has startled several top brands.

Twitter now shows how many people view your tweets

Some even stopped spending on Twitter because they were concerned about their ads that they would stand alongside controversial tweets. The big brand’s decision resulted in a significant drop in the company’s revenue.

As per the New York Times, the decision to ease restrictions on political advertisements on the site has the potential to increase revenue. The action will entice numerous political actors to return to the platform, especially as various US politicians begin their campaigns for the presidential elections in 2024.

The social media platform is indeed trying to deal with numerous lawsuits, one of which reveals the firm’s financial condition. Previously this week, it was revealed that the firm is currently being sued for failing to pay its deposit for the San Francisco headquarters, highlighting the company’s difficulties.

Suhani Jain

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