10 Things in Tech: Musk's big Twitter bet
Hello, again. Today we've got the latest on Elon Musk's surprise Twitter stake, and are giving you a sneak peek inside Hyundai's sleek new electric SUV.
Let's get started.
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1. Elon Musk is now Twitter's biggest shareholder. With 9.2% of the company, employees and analysts are now wondering how he will influence it — though some just hope the stock bump lasts:
- Musk's surprise purchase, which was revealed Monday in a regulatory filing, sent Twitter's shares soaring as much as 27%.
- Two employees told Insider they hope the price increase will stick until the window for trading their stock opens again in May. Another, who was considering leaving the company because of its low stock price, said he might reconsider if the stock holds.
- One analyst, pointing to some of Musk's previous tweets, predicted the billionaire Tesla CEO may try to push for changes. Another suggested he may take an even "more aggressive ownership role of Twitter."
What Musk's investment could signal for Twitter.
In other news:
2. Polestar is supplying 65,000 rental vehicles to Hertz. Taking a page out of Tesla's playbook, the electric-car maker will be providing the vehicles over the next two years, starting with the Polestar 2 sedan (which we crowned the coolest EV you've never heard of). What the deal could mean for the young brand.
3. Amazon is staffing up "Project Santos," its secretive project to take on Shopify. According to an internal org chart, Amazon is building out the team with heavy hitters from across the company, including Doug Yeum, ex-Amazon cloud partner network chief and former "shadow" to Amazon CEO Andy Jassy. Meet Project Santos' newest member.
4. They founded a $17.5 billion startup in Russia. Then a war broke out. Software firm Miro closed its office in Russia in March and is scrambling to relocate those employees as the country's assault on Ukraine continues. How one of Russia's crown-jewel startups cut ties with the country.
5. Do we really need metaverse cities? Cities from Seoul to Santa Monica are making big bets on the metaverse. But despite all the money and resources flooding into the new technology, a key question about the metaverse has gone unanswered: What's the point?
6. Two execs have resigned from Truth Social, former President Trump's social-media venture. Reuters reported that two "key" executives stepped down from the startup behind the app. An Insider reporter spent a week on the app, and said it felt like "exploring a ghost town."
7. A founder used this pitch deck to turn a 20-minute pitch into a 1.5-hour conversation — and a $1.25 million check. Aymeric Maudous, founder of climate
8. Two tech execs explain how paternity leave made them better leaders. Opendoor's CTO and VP of engineering said taking paternity leave can set a good example for the rest of your coworkers — especially if you work for a tech company. Read their advice here.
Odds and ends:
9. We tested Hyundai's sleek new electric SUV — and it exceeded expectations. Insider's transportation reporter spent five days with the much-anticipated Ioniq 5, and was won over by its ultra-fast charging, striking looks, and stylish interior. These are the Ioniq 5's best features.
10. A robot dog issuing COVID-19 safety instructions is roaming the streets of Shanghai. With a loudspeaker strapped to its back, the robodog barks at residents in the locked-down city to "wear a mask, wash hands frequently, and check your temperature." Watch the dog in action.
What we're watching today:
- Microsoft is expected to reveal "the future of hybrid work" with Windows 11.
- Megan Thee Stallion begins "Enter Thee Hottieverse," a VR concert tour.
- Axios is holding its virtual "What's Next" Summit.
- The DEVintersection Conference takes place today through April 7.
- Forbes' World Billionaires List is scheduled to be announced.
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email email@example.com or tweet @jordanparkererb.) Edited by Michael Cogley in London.
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