Elon Musk Plans to Shake Up Twitter, and Amazon Takes a Loss in the First Quarter of 2022

Speaker 1: This is seen as, and here are the stories that matter right now, earlier this week, Twitter accepted Elon Musks offered to buy the company for 44 billion. And now the Tesla boss has ideas on how he wants to transform it. For starters, he has a new CEO lined up to take over when the sale is finalized. Also Musk says he'd reign an executive pay, perhaps make cuts and even find new ways to monetize tweets. According to Reuters, the deal faces shareholder and regulatory approval before it can be finalized. Coincidentally, during [00:00:30] the same week as big Twitter news, Donald Trump's new social media platform, truth, social climbed to the top of Apple's chart for free apps. Donald Trump was permanently barred from Twitter and other social media sites. After his remarks regarding the January 6th Capitol hill riots, it's unclear whether Elon Musk will allow the former president back onto the platform. Speaker 1: Once he officially takes over truth. Social had a Rocky rollout when it launched in February and continues to glitch, but it could one day become Trump's news, social media megaphone. [00:01:00] And finally, Amazon has report did a first quarter profit loss for the start of 2022. The e-commerce giant cited, increasing fuel costs, waning interest in online shopping as the pandemic eases and the war in Ukraine, as reasons for the decline. Furthermore, Amazon has invested heavily in Rivian automotive in electric truck manufacturer, and it's been hit by the declining value of those shares because of a, all of these factors, Amazon executives don't predict or return to strong growth as operating costs will only continue to increase, stay [00:01:30] up to date with the latest by visiting CNET.