Who is Elon Musk and what drives him?

The richest man on the planet, Elon Musk, used Tesla and SpaceX to revolutionise cars and rockets. Now, this restless entrepreneur has his eyes on other global problems. But who is Elon Musk and what drives him?

Twitter is on the Brink of Bankruptcy

When Elon Musk walked into Twitter's HQ with a kitchen sink, the tech world knew change was coming. But what exactly does this change entail? 

Explore the story behind Musk's Twitter takeover, the introduction of 'X', and what it could mean for the social media giant's future. Are we looking at a super-app revolution or is this just another marketing gimmick?

Threads vs. Twitter: Could Elon Musk’s App Be Replaced?

Twitter is facing new challengers that threaten to take over the platform’s position as the global town square. 

WSJ tech columnist Christopher Mims joins host Zoe Thomas to explain how the rise of Threads could make Twitter less relevant.

Citadel Advantage News Digest - Issue #158

Read / Subscribe to the “Citadel Advantage News Digest” Issue #158 - In this edition -

• Green Loans: A Fast-Track Method to Be a Banking ESG Leader
• Cryptocurrency Exchanges, Regulation and Bank Runs: A Summary
• The whole point of money is to NOT know your customer - Chris Skinner's blog
• Just 8% of Americans have a positive view of cryptocurrencies now
• 'Bank of Twitter': Is Elon Musk Spitballing Or Could It Really Work?
• Why Crypto’s Crash Hasn’t Spilled Into Other Markets
• Elon Musk Is Hiring Relatives at Twitter in Literal Nepotism

NEWS about World Affairs, Banking, Fintech, Payments, Business, Blockchain, Crypto, Money and more…

Check it out HERE

Working for Elon Musk: Ex-Employees Reveal His Management Strategy

“He has never said this, but I’ve watched it. You have 30 seconds to make your point.” 

What Elon Musk has been doing at Twitter since he took over the company isn’t new – he’s used the same management strategies when he took over Tesla and when he founded SpaceX. 

The Wall Street Journal spoke with three former employees to better understand Musk’s management playbook.

Why Tesla’s China Ties Could Be a Problem for Elon Musk’s Twitter

Elon Musk’s new ownership of Twitter could be affected by the ties one of his other companies, Tesla, has to China. The electric-vehicle company sources materials and builds and sells its cars there. But Beijing is often sensitive about what is said about it on social media. Could this affect Mr. Musk’s plans for content moderation on Twitter? WSJ Heard on the Street Europe Editor Stephen Wilmot joins host Zoe Thomas to discuss.

Read the latest Edition (#129) of the Citadel Advantage News Digest

NEWS about Banking, Fintech, Payments, Business, Blockchain, Crypto, Money and more…

Read the newsletter HERE

In this edition;

• With or without Elon Musk, Twitter is overdue a shake-up
• Crypto market crash: Layoffs, bankruptcies and frozen accounts
• What to do now about tomorrow’s code-cracking computers
• Credit Suisse: what next for the crisis-hit bank?
• Battle for Credit Cards Waged With Innovation and Sheer Marketing Muscle
• How Can Password-Free Identity Verification Safeguard User Privacy?
• Major Card-Issuing Bank Takes on Fintechs with Its Own BNPL Plan
• The real value in relationship-focused pricing decisions
• 5 Ways Community Banks & Credit Unions Can Compete in Credit Cards
• Visualized: How Bonds Help Reduce Bear Market Risk
• The Gap Between Products Banks Offer & What Consumers Really Need
• WaaS for Finance: How Banks and Retailers Can Leverage Wallet-as-a-Service?
• Banks Struggle to Provide Personalized Engagement: Here's Why

You can read/subscribe to the newsletter HERE

Tesla CEO Elon Musk on Trump, Twitter, Job Cuts, Recession Risks

Tesla Inc. CEO Elon Musk discusses his planned acquisition of Twitter Inc., his view that a US recession is likely, and the outlook for job cuts at Tesla. In an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum, he also comments on supply constraints and whether he would support Donald Trump in the next US presidential election.

How Elon Musk Plans to Change Twitter

Twitter will become a private company if Elon Musk’s $44 billion takeover bid is approved. The move would allow Musk to make changes to the site. WSJ’s Dan Gallagher explains Musk’s proposed changes and the challenges he might face enacting them.

Bitcoin is setting the world on fire

Bitcoin was really hot in 2021, but not the way you might think. 

I'm talking about the massive energy and carbon footprint that has bloomed up as the Bitcoin network continues to grow. We've finally started to pay attention to it in 2021, with Elon Musk calling its energy consumption "insane," and calling into question its usefulness (and interestingly neither Tesla nor Musk have divested themselves of Bitcoin holdings).

It's true that Bitcoin uses an absurd amount of energy, and 2021 was the year that it truly skyrocketed, rising from somewhere around a 77 TWh/year forecast in the beginning of the year to more than 200 TWh/year by December 25. At this point, the Bitcoin network is burning through the same amount of power and fuel as some medium-sized countries, and an individual transaction eats up more power than an average U.S. household uses in 70 days!

Bitcoin, and other cryptocurrencies, need something big, like a transition to proof-of-stake, if they're going to survive a larger global transition to greener energy.

Musk Named Time's Person of the Year After Tesla's Stellar Run

Elon Musk was named Time magazine's "Person of the Year," capping a run during which the head of Tesla Inc. solidified his standing as the world's richest person and turned his onetime electric-vehicle startup into a $1 trillion company.

'Tesla as the World’s Biggest Robot Company' Elon Musk on AI and U.S. Innovation

Watch Tesla CEO Elon Musk in an interview with WSJ’s Joanna Stern at the CEO Council Summit.

Elon Musk: CO2 saint or sinner? - FT Film

 

The electric car revolutionary has built a reputation as a clean energy champion. But SpaceX has never fitted in with Musk's green image. Now the tech billionaire is driving the energy-hungry crypto market. FT writers and experts weigh his climate record, both good and bad, and ask whether his green status stacks up. 

You can read more at https://www.ft.com/climate-capital

Elon Musk’s Power Over Crypto, Explained - WSJ

Elon Musk’s comments on assets like bitcoin and dogecoin have helped send prices sky high – and crashing down – over the past year. WSJ explains Musk’s influence on cryptocurrency investors, and why some experts think the ‘Dogefather’ is taking investors for a ride.

 

Bitcoin Blues

From The Economist

Bitcoin speculators had a jittery week, pushing the cryptocurrency down from a record high. Janet Yellen, America’s treasury secretary, added to the febrile atmosphere when she described bitcoin as an “extremely inefficient way of conducting transactions”. Meanwhile, New York state’s attorney-general branded Tether “fraudulent” and barred the stablecoin—commonly used to buy bitcoin on crypto-exchanges—from trading in New York. Tether long claimed its coin was backed one-to-one by the dollar, but New York concluded that it overstated its reserves and is “a stablecoin without stability”.

The knock to bitcoin was a factor behind a sharp fall in Tesla’s share price. The electric-car maker made a controversial $1.5bn investment in bitcoin recently. Shortly before the cryptocurrency plunged, Elon Musk mused that its price seemed “too high”. The drop in Tesla’s stock at one point wiped $15bn off his fortune.