Domain Daily: Musk Talks Twitter. And Aliens

The Dose

  • Elon's Address

  • The Sincerest Form of Flattery

  • Streaming Sports

Elon Musk Addresses Twitter Staff

The world's richest man held a forum with Twitter employees ahead of his planned $44 billion acquisition of the social media platform.

The Point: CNBC kept a journal of the meeting. Just note that their reports were based on internal sources and that CNBC wasn't privy to the conversation. With that disclaimer out of the way, here are some highlights. Musk said he wants Twitter to reach 1 billion daily active users, a nearly 5x jump over its 229 million monthly active users. He also took the occasion to advocate for free speech on the platform. Still, he warned that Twitter should be careful about the opinions it promotes. Finally, it wouldn't have been very Elon-like to stick to the topic at hand. CNBC said he "briefly diverted the conversation into a discussion about aliens and human consciousness."

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Facebook Wants to Copy TikTok

According to an internal memo obtained by The Verge, Facebook's plan to fight TikTok is to become more like them.

The Point: In 2021, Facebook saw its user count decline for the first time in history. That's, at least partially, attributable to the rise of TikTok. So Facebook is doing what it has always done when faced with competition: copy them. Instead of prioritizing updates from your friends, Facebook plans to take a page from TikTok and highlight content, regardless of whether you know the creator or not. "What we're really finding is that people want to connect over content," Tom Alison, Meta's executive in charge of Facebook, told The Verge. "And so a lot of where we're going with Facebook is trying to bring you the best content that's going to really cater to your interests, but then making it super easy to share that and discuss and connect with other people in your network over that."

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Major League Soccer Moves to Apple TV

Sports Business Journal said Apple is paying about $2.5 billion over ten years for the league's exclusive streaming rights.

The Point: Why is this worth mentioning? Because sports is the one hook traditional television companies have kept in consumers' backs. Cutting the cord is a tough sell if you're a sports fan. MLS isn't the most popular sports franchise in the country, but it's a start and a clear warning shot to cable and satellite providers. This will get really interesting if Apple or Amazon can snatch NFL's Sunday Ticket package or if Disney's ESPN finally offers a standalone service. If either of those two scenarios happens, Comcast, DirectTV, and others will have real cause for panic.

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*The content team responsible for the above content uses primary and secondary sources they believe to be accurate, which includes but is not limited to Bloomberg, The Wall Street Journal, Financial Times, and CNBC, among others. 

*  Domain Money Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission and an affiliate of Domain Money, has (as of this writing) the following assets mentioned in this communication as part of its managed portfolios: TWTR, META, AAPL, AMZN, DIS