When the GameStop stock controversy took over the world for a few days, many were expecting a documentary to explain in detail what lead to this event and will be released next Monday.
Hulu is putting together a film called “GameStopped,” which examines the circumstances surrounding GameStop stock’s wild price fluctuations after users on a Reddit forum began purchasing shares of the heavily shorted company.
The documentary will include interviews with Reddit investors, Robinhood CEO Vladimir Tenev, Reddit CEO Steve Huffman, and others involved in the controversy.
In the aftermath of the controversy, GameStop announced in February that Jim Bell, their chief financial officer, is resigning from his position effective on March 26. Furthermore, GameStop found itself in the political spotlight as Republicans and Democrats debated the rapid stock fluctuations.
With GameStop shares spiking again, jumping more than 40 percent, and putting it near the peak set in late January, ABC announced the documentary’s release.
Kara Swisher: Elon Musk “Has to Be” Rethinking Buying Twitter at $54 a Share
Swisher does believe a deal will occur with Twitter seeing Musk as its new owner despite these claims. However, she thinks the entrepreneur might have another idea: reprice the bid.
Elon Musk made headlines a couple of weeks ago with his decision to purchase Twitter for $44-billion; however, New York Times reporter Kara Swisher stated on the latest episode of The Interview that the Tesla CEO is having second thoughts.
“He has to be. This price is too high,” Swisher said. “[Twitter] is not worth $54 a share. It’s crazy. It’s like throwing money down a hole.”
“He should walk away, pay the billion-dollar breakup fee and then wait until it declines. He could pick it up for $15 billion versus $45 billion. That’s a nice savings. There’s a lot you can do with $30 billion,” Swisher said.
Walking away from the deal for the social media company might not be easy. But, either way, Musk is undoubtedly taking a hard look at his bid of $54.20 per share by what Swisher is conveying, wrapping up that her relationship with the possible new owner of Twitter as an “up and down” one.
“We’ve had beefs,” Swisher said. “He hasn’t returned my emails. He usually does. He’s talking to right-wing people. He’s friends with Mike Cernovich. Good for him. He’s making new friends. I don’t care. I have four children; I don’t need Elon Musk.”
New Texas Law Will Make It Illegal to Block, Ban Posts on Social Media Outlets
Texas lawmakers ruled last week that makes it illegal to block, ban, remove, deplatform, demonetize, and de-boost posts on social media platforms.
Texas lawmakers have put Big Tech on notice following a ruling last week that makes it illegal to block, ban, remove, deplatform, demonetize, and de-boost posts on social media platforms with 50 million or more US monthly users.
The 15-word ruling will most likely set the stage for an intense debate in the Supreme Court and could further divide a nation struggling to interpret free speech and the First Amendment.
According to MSN, Texas’s law, HB 20, which seeks to address the perceived imbalance, was blocked in December by a district court judge who ruled it was unconstitutional under the First Amendment.
Trade organizations NetChoice and the Computer Communications Industry Association have appealed directly to the Supreme Court, according to The Verge. In a statement, NetChoice counsel Chris Marchese said the law strips private online businesses of their speech rights.
“The First Amendment prohibits Texas from forcing online platforms to host and promote foreign propaganda, pornography, pro-Nazi speech, and spam,” he added.
The Texas attorney general’s that the appeals court made the right decision and said it would continue defending the Texas law.
Ted Sarandos to Staffers: Quit Netflix if You Find It Hard to Support Our Content
The Netflix CEO sent an internal memo discussing the diversity of its products and suggested that some content may conflict with people’s personal beliefs.
As streaming giant Netflix continues to hemorrhage subscribers, the company has reportedly told its employees to find a new job if they’re offended by some of the content that is being created.
According to Variety, CEO Ted Sarandos sent an internal memo discussing the diversity of its products and suggested that some content may conflict with people’s personal beliefs.
“Depending on your role, you may need to work on titles you perceive to be harmful,” the memo said. “If you’d find it hard to support our content breadth, Netflix may not be the best place for you.”
According to the company’s first-quarter earnings report, Netflix lost 200,000 subscribers during the January-March period. Some employees staged a walkout when Dave Chapelle railed against transgenderism. At that time, the company vowed not to silence its artists.
Sarandos reiterated that Netflix supports individualism and respects the principles and values of its subscribers.
“While every title is different, we approach them based on the same set of principles: We support the artistic expression of the creators we choose to work with; we program for a diversity of audiences and tastes; and we let viewers decide what’s appropriate for them, versus having Netflix censor specific artists or voices,” the memo added.