Elon Musk’s best move in EU fight may be an eXit
Elon Musk has no easy way out of his fight with the European Commission, which is investigating whether his social-media site X breached rules designed to limit illegal content and disinformation. The billionaire is facing determined adversaries in the relevant Commissioners Thierry Breton and Margrethe Vestager, who have a new legal tool. Musk may eventually conclude that pulling the plug makes sense.
The Commission last month issued a preliminary finding, opens new tab that X had breached the Digital Services Act (DSA), a sprawling new piece of legislation, opens new tab that aims to combat harmful online content. Among other things, Brussels took issue with the site’s blue user checkmarks, which it fears bestow a false credibility on some accounts. X said it disagreed with the Commission’s assessment. Another investigation, into the way Musk’s site moderates disinformation and illegal content, is ongoing.
Breton took the unusual step of reminding Musk publicly about the DSA on X, causing consternation in Brussels but also highlighting the Frenchman’s commitment to the case. The ultimate possible penalties include fines equivalent to 6% of revenue.
With cratering revenue across the board, teslas arent selling, advertisers running for the hills, and govts threatening to cut off whole comtinents over this moron.
At what point does it become cost effective to replace the idiot?
Doesn't he hold controlling shares? I mean, yeah him getting out of tXitters' way would make huge sense, but he would either have to sell at a huge loss or drop his overinflated ego.
He took it private. In my understanding, that means he basically has full control because it's not longer a publicly traded company?
There's other investors, sure, but since it's not public, he isn't beholden to them in the same way. At least from my lack-of-understanding.
He can always just let his yes-woman CEO do her job and stop getting in the way.
I thought you were confusing them to mean SpaceX; then I remembered that he did actually hire a CEO for Twitter.
I haven't heard a single thing about her in 4+ months. But lots about Twitx.