Twitter is working toward 'closing the transaction process' with Elon Musk

If attendees at Twitter’s annual shareholder meeting were hoping to clear up confusion surrounding Elon Musk’s acquisition of the company, they likely left disappointed. Despite numerous questions about the future of Twitter, the company’s executives had little to say about Musk, who did not attend the meeting.

“We’re working through the transaction process,” CEO Parag Agrawal said during the meeting. The status of the deal has been somewhat unclear since Musk announced it was “on hold,” due to his concerns about bots on the platform. Twitter executives have maintained they are moving forward with their plans.

“Even as we work towards closing this transaction, our teams and I remain focused on the important work we do every day to serve the public conversation,” Agrawal said.

Twitter had said ahead of the meeting that it wouldn’t answer questions related to Musk’s acquisition of the company, which will need to be formally approved by Twitter stockholders at a later date. Even so, shareholders tried to get Twitter executives to address the issue. The very first question in the Q&A portion of the meeting asked what will happen to Twitter shareholders’ stock if “someone” buys the company and takes it private. “We aren’t able to address these questions today,” Sean Edgett, Twitter’s General Counsel, said, directing people to the company’s previous SEC filings.

Shareholders also raised questions about the future of the company’s content moderation policies. Agrawal said the company remains “focused” on existing its current policies and “decreasing our reliance on user reports.” Though he didn’t directly address comments Musk has made about loosening its rules, he said that “silencing political commentary is antithetical to our commitment to free speech.”

The meeting also marks the end of co-founder Jack Dorsey’s tenure with Twitter. He had stepped aside as CEO in November, but remained on the board of directors until the meeting. As with much of Twitter’s future, it was unclear who will succeed him.

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In its study of 49 countries, the nonprofit found that 146 of the 164 “EdTech” products used in those places reviewed employed data practices that either put the rights of young people at risk or actively infringed on them. Those platforms either employed or had the capacity to use tracking technology to monitor their young users secretly and without their consent or that of parents. What’s more, their data was frequently sold to third-party companies.

Human Rights Watch observed 146 of the apps it reviewed directly sending or granting access to the data of their young users to 196 third-party companies, with the vast majority of that information making its way to adtech platforms. Put another way, there were significantly more advertising firms buying the data of children than there were tech companies collecting it.

“In the process of endorsing and ensuring their wide adoption during COVID-19 school closures, governments offloaded the true costs of providing online education onto children, who were unknowingly forced to pay for their learning with their rights to privacy, access to information and potentially freedom of thought,” the report’s authors said.

Human Rights Watch points out that many of the tools governments recommended for online learning, including Zoom, Microsoft Teams and Cisco Webex, weren’t explicitly designed for use by children. But even those that were, such as ST Math, often employed trackers that sent data to companies like Meta and Google that could then later be used for behavioral advertising.

The report is yet one reminder of just how problematic surveillance capitalism has become in recent years. A similar report published earlier this month found that Immigration and Customs Enforcement operates as a “domestic surveillance agency,” and that it was able to bypass laws governing its operation by purchasing databases from private companies.

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