Science & Technology
Twitter’s new CEO is an NBCUniversal executive with deep ad industry ties
Elon Musk confirmed that the new CEO for Twitter will be NBCUniversal’s Linda Yaccarino, an executive with deep ties to the advertising industry.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter!” Musk wrote in a Friday tweet. He added that Yaccarino “will focus primarily on business operations” while Musk will stay closely connected to product design and new technology.
Before that announcement, NBCUniversal said Friday that Yaccarino would step down immediately as chairwoman for global advertising and partnerships, AP reported.
Musk, who bought Twitter last fall and has been running it since, has long insisted that he would step down as top executive at the company, which is now called X Corp.
Few expect Musk to remove himself from the decision-making process at Twitter, however.
“While he’s stepping back from the CEO title, Musk is far from likely to step back from calling the product shots,” said Mike Proulx, research director at Forrester Research.
Yaccarino, with deep roots in the advertising industry, could be a linchpin in Twitter’s future.
Luring advertisers is critical for Musk and Twitter after many fled in the early months after his takeover of the social media platform, fearing harm to their brands in the ensuing chaos. Musk said in late April that advertisers had returned, but provided no details.
Mark DiMassimo, founder and creative chief of ad agency DiGo, said Yaccarino successfully integrated and digitized ad sales at Comcast and NBC — and that her track record of cross-selling ads across different platforms could appeal to Musk as he tries to transform Twitter from a social media company to a bigger media platform.
Yaccarino worked at NBCUniversal for nearly 12 years — with her team generating more than $100 billion in ad sales since 2011, her company bio notes.
According to LinkedIn, Yaccarino previously served as NBC’s chair for advertising and client partnerships and as president of cable entertainment and digital advertising sales. Prior to her time with NBC, Yaccarino worked at global entertainment company Turner for almost two decades.
Last month, Yaccarino interviewed Musk on a Miami stage last month in front of hundreds of advertisers.
“If anyone can translate the Musk vision into advantages for marketers she’ll be able to do it,” DiMassimo said Friday, prior to Musk’s confirmation. “Even though there’s skepticism and all marketers live in the ‘show me’ state right now with regard to Twitter, if in fact she does go to Twitter this is a powerfully reassuring move.”
Musk said he never intended to be CEO of Tesla, and that he didn’t want to be chief executive of any other companies either, preferring to see himself as an engineer. Musk also said at the time that he expected an organizational restructuring of Twitter to be completed in the next week or so. It’s been nearly six months since he said that.
Bantering with Twitter followers late last year, Musk expressed pessimism about the prospects for a new CEO, saying that person “must like pain a lot” to run a company that “has been in the fast lane to bankruptcy.”
“No one wants the job who can actually keep Twitter alive. There is no successor,” Musk tweeted at the time.
Science & Technology
Australia’s under-16 social media ban sparks anger and relief
Australians reacted on Friday with a mixture of anger and relief to a social media ban on children under 16 that the government says is world-leading, but which tech giants like TikTok argue could push young people to "darker corners of the internet".
Australia approved the social media ban for children late on Thursday after an emotive debate that has gripped the nation, setting a benchmark for jurisdictions around the world with one of the toughest regulations targeting Big Tech, Reuters reported.
The law forces tech giants from Instagram and Facebook owner Meta Platforms to TikTok to stop minors from logging in or face fines of up to A$49.5 million ($32 million). A trial of enforcement methods will start in January, with the ban to take effect in a year.
"Platforms now have a social responsibility to ensure the safety of our kids is a priority for them," Australian Prime Minister Anthony Albanese said on Friday
"We're making sure that mums and dads can have that different conversation today and in future days."
Announcing the details of the ban earlier this month, Albanese cited the risks to physical and mental health of children from excessive social media use, in particular the risks to girls from harmful depictions of body image, and misogynist content aimed at boys.
In Sydney on Friday, reaction to the ban was mixed.
"I think that's a great idea, because I found that the social media for kids (is) not really appropriate, sometimes they can look at something they shouldn't," said Sydney resident Francesca Sambas.
Others were more scathing.
"I'm feeling very angry, I feel that this government has taken democracy and thrown it out the window," said 58-year-old Shon Klose.
"How could they possibly make up these rules and these laws and push it upon the people?"
Children, meanwhile, said they would try to find a way around the ban.
"I feel like I still will use it, just secretly get in," said 11-year-old Emma Wakefield.
WORLD FIRST
Countries including France and some U.S. states have passed laws to restrict access for minors without a parent's permission, but the Australian ban is absolute. A full under-14s ban in Florida is being challenged in court on free speech grounds.
Albanese's Labor party won crucial support from the opposition conservatives for the bill that was fast-tracked through the country's parliament as part of 31 bills pushed through in a chaotic final day of parliament for the year.
The government has said enough notice was given as it first flagged the ban after a parliamentary inquiry earlier this year that heard testimony from parents of children who had self-harmed due to cyber bullying.
But it was criticised by social media firms and some lawmakers who say the bill has lacked proper scrutiny.
A spokesperson for TikTok, which is hugely popular with teen users, said on Friday the process had been rushed and risked putting children into greater danger.
"We're disappointed the Australian government has ignored the advice of the many mental health, online safety, and youth advocacy experts who have strongly opposed the ban," the spokesperson said.
Albanese said on Friday passing the bill before the age verification trial has been completed was the correct approach.
"We've got your back is our message to Australian parents," Albanese said.
"We don't argue that its implementation will be perfect, just like the alcohol ban for under 18s doesn't mean that someone under 18 never has access, but we know that it's the right thing to do."
The ban could strain Australia's relationship with key ally the United States, where X owner Elon Musk, a central figure in the administration of president-elect Donald Trump, said in a post this month it seemed a "backdoor way to control access to the Internet by all Australians".
It also builds on an existing mood of antagonism between Australia and mostly US-domiciled tech giants. Australia was the first country to make social media platforms pay media outlets royalties for sharing their content and now plans to threaten them with fines for failing to stamp out scams.
Science & Technology
South Korea authorities launch probe after three die in Hyundai car test
The Ulsan plant is Hyundai’s biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles
South Korean authorities launched an investigation on Tuesday after three people died during a car test at a Hyundai Motor plant in the city of Ulsan, police told Reuters.
The two Hyundai researchers and one Hyundai contractor were found unconscious in a car at around 3:00 p.m. while they were testing it in a "chamber," according to Hyundai's labour union.
South Korean media reports said the three had suffocated.
A police officer in Ulsan said the police and the labour ministry were investigating the incident, including its cause.
A fire department official told Reuters that it first received a report at 3:17 pm that the accident happened at Hyundai's No.4 factory.
"Hyundai Motor Company is deeply saddened by the incident that occurred at our plant in Ulsan, South Korea," Hyundai said in a statement, saying it would "cooperate fully with all relevant authorities to determine the cause of this incident."
The Ulsan plant is Hyundai's biggest manufacturing facility, with its own port and an annual production capacity of 1.4 million vehicles, including exports of 1.1 million units.
In November last year, Hyundai Motor broke ground on a 2 trillion won ($1.44 billion) plant in Ulsan dedicated to making electric vehicles in South Korea, as the automaker accelerated a shift away from petrol-powered cars.
[embed]https://youtu.be/KrLKCrpLALU[/embed]
Science & Technology
Russia fines Google more than the world’s total GDP over YouTube bans
Russia has fined Google $2.5 decillion after the US tech giant took action against pro-Kremlin TV channels on YouTube following Moscow’s invasion of Ukraine.
Russia imposed a daily fine four years ago - a fine that has since swelled to an unprecedented level - ($20,000,000,000,000,000,000,000,000,000,000,000 - a 33-digit figure).
To put this into perspective, global GDP reaches an estimated $110 thousand billion (12-digit figure), according to the IMF.
Speaking to Russia’s TASS news agency, one expert, Roman Yankovsky from the HSE Institute of Education, said Google “clearly will not pay this penalty, and the Russian Federation will not be able to recover this money from the company."
Euronews reported that a short calculation shows that he is right.
Google's holding company, Alphabet, has a market capitalisation of slightly more than $2 trillion. Even with earnings of $80.54 billion from the last quarter, the tech giant doesn’t seem to be able to afford to pay the fine.
Google first barred pro-Moscow channel Tsargrad TV, which is owned by oligarch Konstantin Malofeev, four years ago.
At the time, Google was fined a daily penalty of 100,000 roubles and warned that amount would double every 24 hours if it went unpaid.
The original fine has been compounded by further penalties after Google eventually blocked a total of 17 Russian TV channels as a result of international sanctions, The Telegraph reported.
The tech giant now owes a staggering $2.5 decillion.
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