Hello. Welcome to TechScape. I’m Blake Montgomery, technology news editor at Guardian US. In today’s newsletter, we discuss the final form of X, learnings from a jam-packed week of earnings, and niche online Halloween costumes. Thank you for your participation.
The US election culminates the transformation of X into Elon Musk’s weapon. He has managed to bend social networks to his will.
Last week, Musk tweeted and linked to a forum within X called the Election Integrity Community, encouraging his followers to report “potential voting fraud or fraud.” Experts told my colleague Johana Bhuiyan that the community, which has more than 50,000 members, has a swamp of conspiratorial overtones and uncorrected misinformation that will make it a face in 2020. It is said that it is similar to the book “Stop the Steal” group.
Users posting to the self-contained feed quickly began pointing out what appeared to be evidence of fraud and election interference.
Tweets showing everything from torn ballots to ABC News to system tests to postal workers doing their jobs and dropping mail-in ballots were all presented as evidence that the presidential election was compromised. Some of the tweets include attempts to record personal information and identify people who users have falsely accused of stuffing ballots and interfering with voting by Trump supporters. Before anyone can decide whether the allegation is true or false, users occupy the post and assume the unsuspecting person they see is guilty.
Mr. Musk has weaponized the ability of X. He is trying to bend the posts of others to his own political will and frame the discussion into an alternate reality. He gives preferential treatment to some posts and hides others. The Washington Post reported last week that of the top 100 tweeting accounts in Congress, only Republicans are spreading the word. When he first acquired Twitter, Musk deployed Twitter’s internal documents to rebuild its public image. twitter file. He then criticized his own account for supporting Donald Trump. He bombarded his followers with pro-Trump messages and flawed Trump interviews on the Twitter space.
We have never seen a transformation like X. Billionaires are not afraid of campaigning or naked partisanship, bending the connected networks of tens of millions of people to their own vision of reality. The October surprise was Elon Musk.
With no economic success with forced purchases, Musk turned to politics to make his $44 billion bet pay off. My colleague Dan Milmo says: “Company X’s continued influence as a news source and its role as a vehicle for broadcasting its owner’s right-wing views to over 200 million followers requires measuring the benefit to the world’s richest people. That means no ‘financial benchmarks alone.” Think of the restoration of Trump’s account and all of Musk’s pro-Trump tweets as an in-kind donation that Musk will cash in on during Trump’s presidency.
Will it ever end once the election is over? – The value of X decreases. It will become less important for the world’s richest man to make noise about voter fraud conspiracies. As with any media that has seen an increase in interest in political battles and the associated craters, X’s traffic will likely decline. We will see the effects of Mr. Musk’s weaponization in the light.
Lessons learned from profits
Five of the Magnificent Seven (Google, Microsoft, Meta, Amazon, and Apple) announced their quarterly results last week. Not all stocks rose, but all beat Wall Street’s earnings expectations. Several lessons can be learned from their impressive performance.
1. Advertising remains the lifeblood of the internet economy
Google’s revenue, Meta’s revenue, and even Amazon’s revenue show that digital advertising can still maintain an empire.
2. Investments in AI, especially in cloud businesses, are paying off.
Bully Google, Microsoft, and Amazon! Like Meta, these companies have increased their capital spending by tens of billions of dollars to pay for their artificial intelligence products, but investors think it’s worth it. It seems so. Each company reported strong growth in its cloud business. Meta’s investments in open source AI likewise led to Meta AI being deployed at Facebook, WhatsApp, and Instagram, and claiming the title of most used AI. Investors loved it.
3. Both of these outcomes benefit one company in particular
Last week, Reddit became the first publicly traded company to report a profit, posting a massive 68% increase in revenue compared to the same period last year. The company makes most of its revenue from advertising, so a strong market means Reddit makes more money, even if it’s a smaller player than Google or Meta. Reddit’s ad revenue increased by 56%.
Reddit chief Steve Huffman also attributed the company’s better-than-expected results to a new revenue stream: deals with AI companies. Anyone who wants to build a large-scale language model that generates English text uses Reddit to train their AI. That social network is a huge, well-organized collection of human-written texts. Reddit licenses its datasets to Google, OpenAI, and others for tens of millions of dollars. That funding source may not last forever, but it’s not going away anytime soon.
Reddit is also benefiting from AI. The social network’s monthly user count increased by half to 97 million in the past quarter alone. Huffman attributes the dramatic increase to the social network’s new translation feature, which uses AI to transliterate English posts into French, Spanish, Portuguese, Italian and German. The company plans to expand this feature in the coming months.
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new york magazine John Herman points out on Reddit:As a repository of human-written material, it is also useful for people who want to be sure that what they are reading was not written by an AI. As a result, Reddit has become “Google’s favorite website” and a throne with the Sword of Damocles, Herman writes. Huffman said Reddit became the sixth most searched word on Google. Many digital media reach similar heights only to be brought down by a crash.
This week on iPhone
Niche Halloween costumes have received meme treatment with a proliferation of jokes starting with “I hate gay Halloween…” on Instagram with X. This meme seems to point to something bigger. Online culture has gotten to the point where we’re not just debating the appeal of individual specific references. NeNe Leaks and the white refrigeratorFor example, we discuss the value of taking internet inside jokes seriously. Is it worth wearing a bulky cardboard box all night screaming, “This is from an early season of ‘The Real Housewives’!” It’s a little self-loathing to start a tweet about your costume with “I hate it.” We expect to see more witches and cats next year.
Although perhaps not. a Rebuttal from X In the Name of Joy: “I love everyone’s niche Halloween costumes!! “I love the specificity of it. I love the creativity. Putting so much time and effort into something literally just to make yourself laugh And I really love having things explained to me when I don’t understand.
As for me, I dressed up as a skeleton for the third year in a row.
Wider Techscape
Source: www.theguardian.com
