Twitter, Elections and Freedom of Speech

10

October

2020

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Twitter mentioned in a statement that it will block retweets and likes of so called misleading social media content form candidates ahead of the presidential elections of the United States of America. This is a move that will increase the tensions that Twitter already had with Donald Trump. Last months, Twitter made attempts to tackle the spread of false information by adding for example labels on tweets that indicate that it needs to be fact-checked.

 

Past weeks, Twitter made new statements that it was updating its guidelines to add “additional warnings to misleading tweets” from all US political figures, also including the current president and Joe Biden, but also on accounts that have more then 100.000 followers. Hereby, users of Twitter will have warnings as popups within the app that covers a misleading tweet. Here the user must click on the warning in order to read the tweet. Hereby, they also will take away the function to be able to like, retweet or to reply to the specific Tweet.

 

The moral question here is, is of course whether technology giants such as Twitter must have the power to label information being real or potentially false. Freedom of speech an important metric for citizens of the United States, and having eyes of commercial organizations on every word in order to mention whether the statement is a ‘good one’ is a crooked idea. Although, as industry dominance is increasing by a few big players in the technology industry, Twitter is making a good first move that seriously tries to tackle the problems of ‘fake news’ and misinformation.

 

All the above, are factors that could set Twitter on a large scale collision with hefty Twitter user Donald Trump. Twitter already has labeled Trump as a spreader of misinformation, and thus is interfering with the elections itself already. For the coming years, will the regulation by technology companies on creating content become fiercer, and thus limiting your freedom of speech? Or should companies like these let the brakes loose so that every individual on earth make whatever statement they want, even if they are looked upon by millions of others?

 

1) https://www.ft.com/content/feda2f38-4777-4400-8602-f2bc0a60de42

2) https://www.reuters.com/article/us-usa-election-twitter-idUSKBN26U1XK

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Tesla and the boldness of hype

8

September

2020

4.86/5 (7)

By a twist of fate, the electric car company named in Nikola Tesla’s honour has become one of the most extraordinary, wealth-creating stock market machines in history. Despite last weeks global sharp sell-off in tech stocks, Tesla’s share price increased almost 600% since the market lows of the COVID-19 pandemic.

Run by Elon Musk, Tesla is currently valued at about 390 billion USD, which is one and a quarter times more than Toyota and Volkswagen combined (Toyota and Volkswagen combined have more than 11 car brands including Audi, Lamborghini, Lexus etc.).

Elon Musk, the revisionist tweeting, rocket-launching and weed-smoking CEO is not just selling cars, he provides a ticket to the future supporters claim. The market euphoria surrounding Tesla has also skyrocketed the market value of other EV companies. Last week, during the stock market debut in New York of ‘Xpeng Motors’ also jumped 40% as it profited from a ‘Tesla Halo’.

To put things in perspective, in 2019 Volkswagen and Toyota combined sold 21,8 million cars and generated approximately 15,6 billion USD of free cash flow in 2019. Compare that with Tesla, who made 366.000 cars and 1,1 billion USD in cash. At the current stock price, each Tesla car is ‘valued’ at more than 1.000.000,- USD a piece, whilst you can buy a Tesla Model 3 for 35.000,- USD

Wow': Tesla's share price rise stuns Musk and his fans | Financial Times

Generally speaking, Musk fans are convinced that Tesla is betting on world changing technological trends like electric cars, battery technology and autonomous driving.

Contrary, some people argue that the Tesla share price is detached from reality and compare the hype to the world of the ‘Dot.com’ bubble of 2000. It can be stated that its current valuation looks irrational. Also, what if the entire world would run on electric vehicles. How does the mining of lithium, the core element of the batteries of EV’s, will affect the planet? Or will cars eventually drive on Hydrogen, a new emerging technology were Musk is currently not betting on?

According the recent tech rally in stocks, the world assumes that EV’s are the answer to all our problems. But, logistically, is this the answer in the foreseeable future?

 

References:

https://www.reuters.com/article/us-tesla-china-breakingviews/breakingviews-tesla-valuation-speeds-into-ludicrous-mode-idUSKBN1Z72ZW 

https://www.reuters.com/article/us-tesla-results-breakingviews/breakingviews-teslas-wacky-valuation-has-a-link-to-reality-idUSKCN24N2Y6 

https://ftalphaville.ft.com/2020/09/01/1598948660000/Tesla-is-nuts–will-it-ever-crash-/

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