Techmeme
October 27, 2022, 2:45 PM

Top News

Todd Spangler / Variety:
Elon Musk seeks to reassure 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, posted an open letter …
Wall Street Journal:
Sources: ahead of Elon Musk's takeover, advertisers on Twitter are concerned about looser content moderation and potential conflicts of interest for auto ads  —  Marketers worry about the Tesla CEO's stance on content moderation, potential conflicts in auto advertising if the Twitter deal completes
Wall Street Journal:
Sources: banks providing $13B in cash to help fund Elon Musk's Twitter bid have begun transferring the money, signaling the deal could close on Friday  —  Mr. Musk sends borrowing notice, kicking off process to complete the $44 billion deal  —  Elon Musk Plans to Change Twitter, Here Are the Challenges He Faces
Edward Ludlow / Bloomberg:
Sofia Pitt / CNBC:
Meta's stock plummets 22%+, opening around $100, the lowest price since 2016, as investors are spooked by excessive investment into the metaverse  —  - The parent company of Facebook reported its second straight quarterly decline.  — Meta's Reality Labs division, which houses its VR headsets …
Meta - Investor Relations:
The Verge:
Spotify updates its iOS app to remove audiobook purchasing instructions, replaced with a message saying “it's not ideal”, to comply with Apple's App Store rules  —  An update for Spotify's iOS app released Thursday had a big change for its audiobooks vertical — and not for the better.
Joe Rossignol / MacRumors:
Mia Sato / The Verge:
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  —  Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.

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Tom Warren / The Verge: