Mediagazer: Survey: 50% of US 18-29-year-olds say they have some or a lot of trust in information from social media, versus 56% who say the same about national news outlets (Pew Research Center)

12:40 PM ET, October 29, 2022

Top News:

Mike Masnick / Techdirt:

Among tech companies, Twitter has been the biggest defender of online free speech, globally; fired head of legal and policy Vijaya Gadde drove much of that work — Last night, Elon Musk closed his on-again, off-again, on-again deal to buy Twitter, and his very first order of business was to fire a bunch of top executives.

Washington Post:

Elon Musk takes over Twitter and fires several top executives, including CEO Parag Agrawal, CFO Ned Segal, and legal policy, trust, and safety head Vijaya Gadde — Musk's $44 billion deal to acquire the social media company closed on Thursday night. — SAN FRANCISCO — Elon Musk became …

Discussion: @elonmusk, Platformer, @nedsegal, @jackalltogether, New York Times, @whey_standard, @thierrybreton, CNBC, New York Times, Ed Zitron's Where's Your Ed At, The Daily Beast, Axios, CNET, The Verge, CNN, The Guardian, Hmm That's Interesting, @mattzeitlin, Reuters, The Daily Wire, Bloomberg, MIT Technology Review, The Hill, @lukewearechange, @olganyc1211, Engadget, The Journey Is Everything, @nigel_farage, @mikegalsworthy, @tedcruz, Syl's Newsletter, @taylorlorenz, Killer NewsTv, @mmasnick, TheBitTimes.Com's Newsletter, @ariehkovler, The Week, Media Matters for America, Slate, The Post Millennial, The A.V. Club, Vanity Fair, Reason, Fortune, The Rooster, Adweek, Insider, Wall Street Journal, Jezebel, New York Magazine, @_lokeshsharma, @dellcam, @mattzeitlin, MediaPost, Protocol, @megbasham, @geoffreyvs, TechCrunch, The Addition, The Wrap, @penamerica, Observer, @goldman, @jason_kint, @kaalateetham, @quinncy, Mediaite, The Hollywood Reporter, @tinch, @megan, @danprimack, @karaswisher, @carnage4life, @nickbilton, @film_girl, Variety, Wired, @ericrweinstein, @jeffjarvis, @donwinslow, Common Dreams, Gizmodo, MacRumors, Al Jazeera, @clarajeffery and Politico, more at Techmeme »

CNBC:

General Motors suspends its paid advertising on Twitter as the car company evaluates the “direction of the platform under their new ownership” — - General Motors is suspending its advertising on Twitter following Elon Musk's takeover of the social media platform.

Alex Heath / The Verge:

CNBC and Bloomberg ran headlines saying Elon Musk cut Twitter staff, based on two people with boxes outside the company's office; one used a meme as his name — In videos circulating on Twitter Friday morning, two men carrying boxes are seen standing near the entrance to Twitter's San Francisco building …

Todd Spangler / Variety:

Elon Musk pens an open letter to calm Twitter advertisers, arguing his goal is not “to make more money” and the service “cannot become a free-for-all hellscape” — Mega-billionaire Elon Musk, nearing the finish line in his rocky takeover of Twitter …

Discussion: @elonmusk, Washington Post, The Guardian, Reuters, Bloomberg, Wall Street Journal, The Daily LEO, @sep, Newser, CNN, Insider, Wired, The Information, @hasanthehun, @maxwinebach, PRWeek, Gizmodo, CoinDesk, The Wrap, WISC-TV, The Daily Wire, The Hill, NPR, New Republic, Associated Press, Observer, @cwarzel, Techdirt, CBS News, @daveyalba, New York Times, MediaPost, The Post Millennial, Today's Take, Forbes, Press Gazette, KTLA, Los Angeles Times, New York Post, CNBC, @schmittnyc, @mzhemingway, @wajahatali, @greg_price11, @jayrosen_nyu, @bcappelbaum, The Verge, @hayskali, @vprasadmdmph, @miblogestublog, @maxkennerly, Fortune, Billboard, @emilybell, Axios, @adriennelaf, ZDNet, The Shortcut, @marklittlenews, @schwarz, @schwarz, @briannawu, @esqueer_, The Week, @adriennelaf, @justinhendrix, @pkafka, @goldman and @cwarzel, more at Techmeme »

Eli Pariser / Wired:

Musk's Twitter, dependent on ads, won't be the global town square democracies need; we need an overlapping ecosystem of smaller publicly owned digital spaces — This is a moment to choose a different path, inspired by the lessons of thriving offline communities.

Discussion: @elipariser, @baekdal, @planetaryinc, @deeptidoshi, @chrisstoecker, @nxthompson, @progressntwrk, @asbruckman, @esgarchitect, @josephmenn, TechCrunch, @wearenew_public, The Information and The Daily Wire

Pew Research Center:

Survey: 50% of US 18-29-year-olds say they have some or a lot of trust in information from social media, versus 56% who say the same about national news outlets — Americans have long been much more likely to trust information from local and national news organizations than information on social media sites.

Discussion: The Hill

Bloomberg:

A book excerpt details Netflix's shift from DVDs and tensions with HBO, which took a hard line on streaming rights, leading Netflix to make its own content — Jeffrey Bewkes scanned his mind, searching for the perfect war metaphor. — It was December 2010.

Discussion: @jonnyrmcfarlane and @lucas_shaw, more at Techmeme »

Liz Robbins / Poynter:

A look at the “piecemeal” coverage of immigrant communities in North Carolina, where, out of nearly 300 media outlets, three reporters are dedicated to the beat — New research from Define American reveals insufficiencies in how news outlets report on such communities and how important it is to improve

Discussion: @bylizrobbins and @poynter

Erik Wemple / Washington Post:

A reassessment of The New York Times' apology and James Bennet's firing after Sen. Tom Cotton's op-ed: Bennet was right and Publisher A.G. Sulzberger was wrong — Controversy over an op-ed by Sen. Tom Cotton (R-Ark.) consumed the New York Times in June 2020 and claimed the job of then-editorial page editor James Bennet.

Financial Times:

eMarketer: US advertisers are on track to spend $65.3B on Facebook, Twitter, and other social networks in 2022, up 3.6% YoY, which is ~10x slower than in 2021 — A decade-long era of breakneck growth in social media advertising has come to an abrupt halt. Who killed the boom?

Discussion: @alexeheath, @financialtimes and Crain's New York Business, more at Techmeme »

Benjamin Mullin / New York Times:

In an email to staff, Chris Licht said CNN will stop buying documentary films and original TV series, and instead explore creating a long-form content studio — Acquired and commissioned documentary movies and TV shows like ‘Navalny’ and ‘Stanley Tucci: Searching for Italy’ are going away.

Discussion: Variety, Puck, @maxkennerly, @jamesjonesfilm, @fawfulfan, @isobelyeung, @thor_benson, @jbflint, @scottfeinberg, @will_doran, @elwasson, The A.V. Club, The Wrap, IndieWire and The Hollywood Reporter

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Kaya Yurieff / The Information:
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David Gutman / The Seattle Times:
A Washington judge fines Meta $24.66M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times

Discussion: The Register, @evelyndouek, @katieharbath, @jvagle, Horrific/Terrific and @agowa

Kif Leswing / CNBC:
Apple's Services revenue grew 4.98% YoY to $19.19B vs. $20.1B expected in Q4; fiscal year Services growth was above 14%, slower than 2021's 16% and 2020's 27%

Discussion: How They Make Money, CNET, Axios, 9to5Mac, The Register, El País, @carnage4life, @samifathi_, @jsnell and @claireatki

Annie Palmer / CNBC:
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Discussion: TechCrunch, CNET, Publishers Weekly, Front Office Sports, @tcarmody and @pt

The Verge:
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Agence France-Presse:
AFP and Twitter partner to elevate credible information in Spanish in Latin America, Spain, and the US, a month after announcing a deal for Portuguese in Brazil

Defector:
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Discussion: Nieman Lab, @film_girl, @defectormedia, @jayrosen_nyu and @mattdpearce

From Techmeme:

Kent Walker / The Keyword:
Google says the US DOJ's “wildly overbroad proposal goes miles beyond the Court's decision”, would hurt US consumers and jeopardize US' global tech leadership

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Paige Smith / Bloomberg:
CFPB will supervise tech companies offering digital wallets, like Apple Pay, Google Pay and Venmo, by treating companies with 50M+ annual transactions as banks

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