The breathtaking cluelessness of Elon Musk

Now Elon Musk is attacking Wikipedia

In the Tesla CEO’s world, no media source can be considered trustworthy, particularly those that criticise him.

Dave Lee Oct 26, 2023
https://www.afr.com/technology/now-elon-musk-is-attacking-wikipedia-20231025-p5eewj

Not content with trashing one treasured website this year, Elon Musk has turned his sights on another: Wikipedia, the crowdsourced encyclopedia founded in 2001, which has become to represent the very best of what the internet has to offer.

The world’s richest person and owner of social media platform X, seems to have been rattled by a report published by NewsGuard, a company that rates the trustworthiness of information sources. Last week, it offered some troubling statistics around misinformation on X pertaining to the Israel-Hamas conflict almost a year after Musk bought the website for $US44 billion. Wikipedia founder Jimmy Wales is an adviser to NewsGuard.

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Not for the first time, Elon Musk is making enemies of people who fervently back the free speech principles he apparently cares so deeply about. AP

“Have you ever wondered why the Wikimedia Foundation wants so much money?” Musk wrote on X, referencing the non-profit organisation that operates Wikipedia and its appeals for user donations. “It certainly isn’t needed to operate Wikipedia. You can literally fit a copy of the entire text on your phone! So, what’s the money for? Inquiring minds want to know…”

Musk then suggested he would give Wikipedia $US1 billion ($1.6 billion) if it changed its name to a juvenile alternative. The Trumpian broadside was just the latest from Musk against sources of information that disseminate credible information.

Yes, Wikipedia’s articles can be updated by anyone, but they are tightly edited by a team of thousands of mostly volunteer editors, and its guiding principle has always been that every stated fact requires a citation from a trusted, verifiable news source with recognised standards. Millions of college graduates can vouch for the system.

Of course, in Musk’s world, no media source can be considered trustworthy, particularly those that criticise him. Indeed, he claims his own Wikipedia entry is false, despite being heavily moderated and containing verified facts. One of his followers on X suggested someone had been paid to write a negative Musk entry on “Wokipedia”. Musk agreed, naturally.

Unlike X which, as a private company, no longer has to share details on its financial condition since being purchased by Musk, the Wikimedia Foundation regularly publishes its audited accounts. In the 12 months ending June 2022, it received $US165.2 million in contributions from some 13 million donations. That year, it spent $US88 million on salaries and wages; $US15 million on awards and grants; and $US2.7 million on internet hosting – keeping Wikipedia and its related websites online.

In a Q&A accompanying the release of those numbers, Wikimedia Foundation itself draws attention to the most glaring detail – the payroll spend, which increased by just over $US20 million year-on-year. Since 2020, it has added more than 200 roles, as projected in its annual plans. Those new jobs have been focused on expanding Wikimedia Foundation’s programs globally and not throwing Silicon Valley-esque salaries at employees.

Also of note are the internet hosting costs. While Musk is right to say Wikipedia can be stored on a single smartphone, making it available to 25 billion visitors every month is no trivial matter. Compared to the operating costs of comparable sites,Wikipedia is run on a shoestring. (Twitter’s operating expenses in 2021 – the last full year available – were $US5.6 billion.) And keeping the encyclopedia online is about more than just hosting. It requires protections against cyberattack, legal fees to protect user privacy, and experts to combat efforts at misinformation.

Not for the first time, Musk is making enemies of people who fervently back the free speech principles he apparently cares so deeply about. Building Wikipedia could have made Wales one of the richest people on the planet, but he instead has a reported net worth in the low millions of dollars. Long a prominent activist for an open internet, Wales has previously called for “very strong implementation of a right to free speech in Europe – essentially the language of the First Amendment in the US”. Indeed, unlike Musk, who readily admits he will take down content in countries that demand it, Wales has consistently shown his mettle and stood up to Chinese efforts at censorship.

Wikipedia is one of humanity’s finest achievements. A collectively written and edited knowledge base of almost 60 million articles in 336 languages, freely available to anyone with an internet connection – and indeed to many without. I once joined a group of activists in South Korea who would load the Korean version of Wikipedia onto USB sticks and send them into the North using hot air balloons, to be picked up and plugged into clandestine laptops – such was the yearn for its contents.

Wikipedia would be, if we ever decided to designate such things, a digital wonder of the world, maybe one of the last surviving relics of the early internet, when the possibilities of what could be achieved together seemed endless and exhilarating.

That it has stood the test of time is down to good governance and selfless volunteer work. Its financial record, just like every single other thing that happens on the site, is out in the open. Its model allows it to be the only website among the 10 most visited globally that doesn’t sell our data, pummel us with targeted advertising, or demand a subscription.

No wonder Musk is attacking Wikipedia. If he only cared to look, he would see his complaints are bogus. Wilfully ignorant or just ignorant – take your pick.

Dave Lee is Bloomberg Opinion’s US technology columnist.
 
Elon Musk gives X employees a year to turn app into finance platform: ‘You won’t need a bank account’
By Ariel Zilber Published Oct. 27, 2023
https://nypost.com/2023/10/27/busin...ees-a-year-to-turn-app-into-finance-platform/

Elon Musk has given his employees at social media platform X a year to roll out a payments processing mechanism that will enable people to do away with their bank accounts.

“When I say payments, I actually mean someone’s entire financial life,” Musk told his charges at an all-hands meeting on Thursday.

Audio of the meeting, which was held to mark the one-year anniversary of Musk’s acquisition of the company, was obtained by the tech-centric news site The Verge.

“If it involves money, it’ll be on our platform,” Musk said, adding: “I’m talking about, like, you won’t need a bank account.”

Musk appeared virtually at the meeting from his hometown of Austin, Texas — a move that raised eyebrows given that he had famously forced employees back into the office upon taking over the firm.

Linda Yaccarino, the former NBCUniversal executive who Musk tapped to be CEO of X, was also absent from the company’s San Francisco headquarters.

She conferenced into the meeting from her office in New York, according to Fortune.


Elon Musk with one of his son walks on the pit lane after the 2023 United States Formula One Grand Prix at the Circuit of the Americas in Austin, Texas, on Oct. 22.
AFP via Getty Images

Upon taking over Twitter, Musk demanded that remote workers report back to the office.

Some employees embraced the boss’ “hard core” vision and slept on the office floor after working grueling hours during the chaotic days and weeks after the acquisition — during which Musk laid off most staffers and instituted sweeping changes to the site’s content moderation policies.

Since purchasing the site formerly known as Twitter last year for $44 billion, Musk has laid out a vision for X becoming an “everything app” similar to China’s WeChat, which combines instant messaging, social media, mobile payments, video conferencing, and other features.


Musk has given his employees at X one year to turn the site into a payments processing app.
AFP via Getty Images

After rebranding Twitter as X, Musk signaled he would turn the platform into a super-app, offering a range of services from messaging and social networking to peer-to-peer payments.

To that end, X recently announced it was launching an early version of video and audio calling for some users.

Musk described a post on the platform instructing users on enabling the feature as an “Early version of video & audio calling on X”.

The latest functionality comes amid a series of new features and changes to the platform’s core experience under Musk, who acquired the social media company nearly a year ago.


Musk acquired the site formerly known as Twitter one year ago on Oct. 26. He is seen above at Twitter headquarters in San Francisco shortly after the acquisition.
AP

Teasing the feature in August, Musk had said users would not need a phone number for the features, which will be available on Apple’s iOS, Google’s Android and personal computers.

Musk has hit work cut out for him at X, which was already struggling financially when he acquired it in a deal that closed Oct. 27, 2022, and the situation appears more precarious today.

Musk took the company private, so its books are no longer public — but in July, the Tesla CEO said the company had lost about half of its advertising revenue and continues to face a large debt load.

“We’re still negative cash flow,” he posted on the site on July 14, due to a about a “50% drop in advertising revenue plus heavy debt load.”


Musk acquired Twitter and later rebranded it as X. He said he wants to turn it into an “everything app.”
ZUMAPRESS.com

“Need to reach positive cash flow before we have the luxury of anything else,” he said.

According to research firm Similarweb, global web traffic to Twitter.com was down 14%, year-over-year, and traffic to the ads.twitter.com portal for advertisers was down 16.5%.
 
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Elon Musk Was Staggeringly Wrong About Sam Bankman-Fried
by Victor Tangermann Yesterday Getty / Futurism
https://futurism.com/the-byte/elon-musk-wrong-about-sam-bankman-fried

Last night, a New York jury found the disgraced CEO of the cryptocurrency exchange FTX guilty on all seven charges, including wire fraud, conspiracy to commit wire fraud, and conspiracy to launder money. He's now facing over 100 years in prison.

And while many were able to predict his fate, other high-profile figures were dead wrong about whether he'd face justice.

Case in point is Tesla CEO Elon Musk, who predicted just under a year ago — around the time the exchange collapsed in on itself — that due to Bankman-Fried's donations to the Democratic party, there would be "no investigation."

The tweet exemplifies Musk's continuous slide toward the right, as well as a growing willingness to engage with and further conspiracy theories. And at the heart of it, isn't his whole thing supposed to be predicting the future?

Mind Virus
To be clear, Musk wasn't wrong about Bankman-Fried's political affiliations. The crypto baron made numerous well-documented donations to Democratic committees and candidates. He spent around $40 million during the 2022 election cycle and around $6 million on a PAC that supported Biden's 2020 campaign.

But Musk was dead wrong about what those political affiliations would mean for Bankman-Fried.

That's probably not surprising. Especially ever since he's taken over Twitter, Musk has been engaging with right-wing commentators, making personal attacks aimed at Democrats, and spreading baseless conspiracy theories about the left singling him out. He's long complained about a "woke mind virus" infecting the masses, which makes about as much sense as it sounds like.

But instead of Democrats conspiring together to let Bankman-Fried off the hook, like Musk predicted, pretty much the opposite happened.

Regulators are making a huge example of Bankman-Fried, sending a clear warning to the crypto community that defrauding investors will always be a crime, whether it's wrapped up in a pseudo-philanthropic guise or not.

And that couldn't be more relevant these days, with the Biden administration still actively debating how to regulate an industry that has long been known to play things a little fast and loose.

To his credit, Musk does seem to have had the right hunch about Bankman-Fried's questionable business practices early on. In Walter Isaacson's recently published Musk biography, the mercurial CEO recalled how he rejected Bankman-Fried's request to join his bid to buy Twitter, in which SBF suggested that Twitter's tech could be moved onto a blockchain.

"My bullshit detector went off like a red alert on a Geiger counter," Musk told Isaacson.
 
‘Vast worldwide sewer’: Paris mayor quits X with swipe at Elon Musk
‘This platform and its owner act deliberately to exacerbate tensions and conflicts,’ Anne Hidalgo says.

By Nicolas Camut November 27, 2023
https://www.politico.com/www.politi...musks-x-says-its-become-vast-worldwide-sewer/

Paris Mayor Anne Hidalgo on Monday announced she would leave X, formerly Twitter, because the social media platform has become a "weapon of mass destruction of our democracies" in recent years.

Without naming him, Hidalgo pointed to Elon Musk's responsibility for changes made to the site since he took over the company in October 2022.

"This platform and its owner act deliberately to exacerbate tensions and conflicts," Hildago said in a statement posted on X, adding it had become a "vast worldwide sewer."

"It's a clear political project which wants to do without democracy and its values in favor of powerful private interests," the socialist mayor said, adding: "I refuse to endorse this fateful scheme."

Hidalgo is the first high-profile French politician to announce they are quitting the platform.

X has faced criticism over the spread of disinformation since Musk bought the company, which culminated in recent weeks related to content about the Israel-Hamas war.

These concerns prompted the European Commission to say it would "temporarily suspend advertising on this platform until further notice," in an internal note obtained by POLITICO earlier this month.
 
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