1. Elon tries and fails to acquire Twitter
Tesla and SpaceX CEO Elon Musk made headlines this week by trying to:
- join Twitter's board of directors;
- acquire the whole social network.
Yes, you've read it right. The Tesla CEO tried to make history by purchasing Twitter just in a matter of days. Elon first purchased 73,486,938 shares of Twitter — valued at almost $2.9 billion — which represents a 9.2% passive stake in the company. Shortly after the news broke, Twitter CEO Parag Agrawal wrote in a tweet that the Tesla CEO would bring "great value" to the company as
"Elon is both a passionate believer and intense critic of the service."
But who would've knew that just a few days after that announcement Elon would make an offer to buy the whole company for a total sum of $43 billion? In his statement to Twitter's board, Elon said he's willing to buy 100% of Twitter for $54.20 per share in cash. That move didn't pay off though as Twitter's board almost immediately adopted a new emergency plan, which gives certain shareholders the right to purchase more stock.
2. Meta faces backlash over extremely high fees for Horizon Worlds
Meta wants not only your digital copy for its upcoming metaverse but also all of your money. Well, at least half of it. Vivek Sharma, Vice President of Horizon, announced that Facebook's parent company started testing new features that will allow artists to sell virtual items in Horizon Worlds.
Seems pretty intriguing, right?
Meta is planning to take up to 47.5% on each transaction from virtual items in its metaverse-related hub. The company explained that the cut includes a hardware platform fee of 30% via its Meta Quest Store, as well as a 17.5% cut on Horizon Worlds.
But what Sharma described as a "pretty competitive" rate in the market is far from the truth given that even Apple charges as high as 30% from in-app purchases in the App Store. Fred Sainz, Senior Director, Corporate Communications at Apple, already laughed Meta's plan off, adding that the rate "lays bare Meta’s hypocrisy."
3. Wikipedia editors don't want your bitcoins
If you though that the hate-crypto-over-environment trend is over then think once again as WIkipedia's editors believe that nothing lasts forever except for bitcoin's dire implications for climate change.
This week editors summed up the voting results according to which, a majority (~71%) of the Wikimedia community members is against donations in [any] cryptocurrency. A debate started by a Wikipedia user who goes by GorillaWarfare lasted from January 10 to April 12 with a little under 400 participants.
As an argument against crypto donations, users referred to issues of environmental sustainability, and community issues with the "risk to the movement’s reputation for accepting cryptocurrencies."
But the real problem behind crypto donations may be anything but eco-trend since back in February 2020, Wikipedia co-founder Jimmy Wales speaking in a panel discussion at Coingeek 2020 pointed out that listing bitcoin as a donation method harmed the company's revenue.
And his statements seem to be true as a spokesperson for Wikipedia revealed that the Wikimedia Foundation received just a little above $130,000 worth of crypto in the last fiscal year, which is 0.08% of the company's annual revenue.