World

Experts see harsh realities ahead for Musk at Twitter

Tesla boss Elon Musk’s road to turning Twitter into a money-making platform where anyone can say anything looks to experts like a tough one.

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Musk’s $44-billion deal to buy the global messaging platform must still get the backing of shareholders and regulators.

And while Musk has not revealed nitty-gritty details of how he would run the business side of Twitter, he has voiced enthusiasm for dialing back content moderation to a legal minimum and making money from subscriptions.

“Other than advocating free speech, Musk hasn’t articulated a vision of what the platform can be,” Creative Strategies analyst Carolina Milanesi told AFP.

“He hasn’t said if Twitter has an age issue, a geographic skew, who is the biggest competitor — what else he is thinking.”

Subtract ads?

Musk’s talk of doing away with Twitter’s advertising model for revenue, relying instead on subscriptions, does not appear feasible, Baird Equity Research analyst Colin Sebastian said in a note to investors.

“Elon Musk has floated the idea of ditching the ad revenue model,” Sebastian said.

“We struggle to believe this will happen altogether, unless he plans to fund interest payments on debt out of his own pocket.”

Analysts doubt that Twitter users would flock to pay for premium content or features such as retweeting posts when social media platforms such as Facebook are free of charge. Musk could try selling posts or asking other websites to pay for anything they use from tweets.

Musk’s proclaimed stance as a free speech absolutist also promises to undermine the advertising on which Twitter currently depends for revenue.

Brands are averse to having their ads associated with controversial content, such as misinformation or posts that could cause real-world harm, analysts agreed.

Pushing heavily into subscriptions is likely to reduce the audience at Twitter, at the same time that allowing more controversial posts creates a “toxic environment” that puts off advertisers, said Lauren Walden of Tinuiti digital marketing specialty firm.

As Twitter struggles with profitability, Musk will be on the hook for hefty interest payments from financing arranged to buy the San Francisco-based company.

Meanwhile, US legislators are already threatening to modify a law sparing internet platforms from responsibility for what users post. They could use a Musk-led Twitter as a poster child for the effort.

Troll roadmap?

Musk’s talk of getting rid of “bots,” software-powered accounts that fire off posts, and verifying user identities runs up against privacy concerns as well as the very free speech right he claims to cherish, academics noted.

“Spam is a form of free speech,” said Duke University sociology professor Chris Bail.

“Some of the proposals Musk’s put out there might actually contradict each other.”

Changes Musk plans for Twitter include making public the software running the platform, letting people see how posts are handled and even recommending tweaks.

Making Twitter software “open source” could give users insight and control at the platform, but would provide “uncivil actors” with instructions on how to better spread their posts, Bail told AFP.

“Paradoxically, open-sourcing the platform may actually make it easier for trolls to dominate the platform,” Bail said.

Musk would be taking control of Twitter while still running electric car maker Tesla; tunnel-drilling enterprise Boring Company; private space exploration endeavor SpaceX and a Neuralink project to sync brains with computers.

“It is like he is collecting CEO jobs,” quipped tech analyst Rob Enderle of Enderle Group.

“Maybe with 10 he gets free coffee.”

Twitter co-founder Jack Dorsey was heavily criticized for dividing his time by running digital payments firm Block, then called Square, while he was chief of Twitter.

However, Musk is a proven success as a businessman and the world’s richest person.

“The only thing that gives me pause is that he has expertise in engineering firms, but Twitter really isn’t an engineering firm,” Bail said.

“It’s not about teaching a car to drive itself, it’s about serving the interests of people.”

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Twitter reports stronger user growth rises amid Elon Musk’s takeover

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM