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"content": "\u003cp>The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank — the second-largest bank failure in history — assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down.\u003c/p>\n\u003cp>The announcement came amid fears that the factors that caused the \u003ca href=\"https://www.svb.com/\">bank\u003c/a> to fail could spread. Regulators had worked all weekend to try to find a buyer for the bank; those efforts appeared to have failed Sunday.\u003c/p>\n\u003cp>In a sign of how fast the financial bleeding was occurring, regulators announced that New York-based Signature Bank had also failed and was being seized on Sunday. The failure of Signature Bank, which had more than $110 billion in assets, is the third-largest in U.S. history.\u003c/p>\n\u003cp>In an effort to shore up confidence in the banking system, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) said Sunday that all Silicon Valley Bank clients would be protected and able to access their money. They also announced steps that are intended to protect the bank’s customers and prevent additional bank runs.\u003c/p>\n\u003cp>“This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth,” the agencies said in a joint statement.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>Under the plan, depositors at Silicon Valley Bank and Signature Bank, including those whose holdings exceed the protected $250,000 insurance limit, will be able to access their money on Monday.\u003c/p>\n\u003cp>Also Sunday, another beleaguered bank, First Republic Bank, announced that it had bolstered its financial health by gaining access to funding from the Fed and JPMorgan Chase.\u003c/p>\n\u003cp>In a separate announcement, the Fed late Sunday announced an expansive emergency lending program that’s intended to prevent a wave of bank runs that would threaten the stability of the banking system and the economy as a whole. Fed officials characterized the program as akin to what central banks have done for decades: Lend freely to the banking system so that customers will be confident they can access their accounts whenever needed.\u003c/p>\n\u003cp>The lending facility will allow banks that need to raise cash to pay depositors to borrow that money from the Fed, rather than having to sell bonds and other securities to raise the money. Silicon Valley Bank had been forced to dump some of its bonds at a loss to fund its customers’ withdrawals. Under the Fed’s new program, banks can post those securities as collateral and borrow from the emergency facility.\u003c/p>\n\u003cp>The Treasury has set aside $25 billion to offset any losses incurred under the Fed’s emergency lending facility. Fed officials said, however, that they do not expect to have to use any of that money, given that the securities posted as collateral have a very low risk of default.\u003c/p>\n\u003cp>Analysts said the Fed’s program should be enough to calm financial markets on Monday.\u003c/p>\n\u003cp>“Monday will surely be a stressful day for many in the regional banking sector, but today’s action dramatically reduces the risk of further contagion,” economists at Jefferies, an investment bank, said in a research note.\u003c/p>\n\u003cp>Though Sunday’s steps marked the most extensive government intervention in the banking system since the 2008 financial crisis, its actions are relatively limited compared with what was done 15 years ago. The two failed banks themselves have not been rescued, and taxpayer money has not been provided to the banks.\u003c/p>\n\u003cp>President Joe Biden said Sunday evening as he boarded Air Force One to Washington that he would speak about the bank situation on Monday. In a statement, Biden also said he was “firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.”\u003c/p>\n\u003cp>Regulators had to rush to close Silicon Valley Bank, a financial institution with more than $200 billion in assets, on Friday when it experienced a traditional run on the bank where depositors rushed to withdraw their funds all at once. It is the second-largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual.\u003c/p>\n\u003cp>Some prominent Silicon Valley executives feared that if the federal government didn’t rescue the failed bank, \u003ca href=\"https://apnews.com/article/silicon-valley-bank-janet-yellen-bailout-fdic-fail-failed-c224cf4d2ef07c70cd27e7d0d3be628b\">customers would make runs on other financial institutions\u003c/a> in the coming days. Stock prices plunged over the last few days at other banks that cater to technology companies, including First Republic Bank and PacWest Bank.\u003c/p>\n\u003cp>Among the bank’s customers are a range of companies, from the local wine industry and technology start-ups devoted to combating climate change. Sunrun, which sells and leases solar energy systems, had less than $80 million of cash deposits with Silicon Valley. Stitch Fix, the clothing retail website, disclosed recently that it had a credit line of up to $100 million with Silicon Valley Bank and other lenders.\u003c/p>\n\u003cp>Tiffany Dufu, founder and CEO of The Cru, a New York-based career coaching platform and community for women, posted a video Sunday on LinkedIn from an airport bathroom, saying the bank crisis was \u003ca href=\"https://www.linkedin.com/feed/update/urn:li:activity:7040727755319037952/\">testing her resiliency\u003c/a>. Given that her money was tied up at Silicon Valley Bank, she had to pay her employees out of her personal bank account. With two teenagers to support who will be heading to college, she said she was relieved to hear that the government’s intent is to make depositors whole.\u003c/p>\n\u003cp>“Small businesses and early stage start-ups don’t have a lot of access to leverage in a situation like this, and we’re often in a very vulnerable position, particularly when we have to fight so hard to get the wires into your bank account to begin with, particularly for me, as a Black female founder,” Dufu told The Associated Press.\u003c/p>\n\u003cp>Silicon Valley Bank began its slide into insolvency when its customers, largely technology companies that needed cash as they struggled to get financing, started withdrawing their deposits. The bank had to sell bonds at a loss to cover the withdrawals, leading to the largest failure of a U.S. financial institution since the height of the financial crisis.\u003c/p>\n\u003cp>Treasury Secretary Janet Yellen pointed to rising interest rates, which have been \u003ca href=\"https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90\">increased by the Federal Reserve\u003c/a> to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed.\u003c/p>\n\u003cp>Sheila Bair, who was chair of the FDIC during the 2008 financial crisis, recalled that with nearly all the bank failures then, “we sold a failed bank to a healthy bank. And usually, the healthy acquirer would also cover the uninsured because they wanted the franchise value of those large depositors, so optimally, that’s the best outcome.”\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n\u003cp>But with Silicon Valley Bank, she told NBC’s \u003cem>Meet the Press\u003c/em>, “this was a liquidity failure, it was a bank run, so they didn’t have time to prepare to market the bank. So they’re having to do that now, and playing catchup.”\u003c/p>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>Under the plan, depositors at Silicon Valley Bank and Signature Bank, including those whose holdings exceed the protected $250,000 insurance limit, will be able to access their money on Monday.\u003c/p>\n\u003cp>Also Sunday, another beleaguered bank, First Republic Bank, announced that it had bolstered its financial health by gaining access to funding from the Fed and JPMorgan Chase.\u003c/p>\n\u003cp>In a separate announcement, the Fed late Sunday announced an expansive emergency lending program that’s intended to prevent a wave of bank runs that would threaten the stability of the banking system and the economy as a whole. Fed officials characterized the program as akin to what central banks have done for decades: Lend freely to the banking system so that customers will be confident they can access their accounts whenever needed.\u003c/p>\n\u003cp>The lending facility will allow banks that need to raise cash to pay depositors to borrow that money from the Fed, rather than having to sell bonds and other securities to raise the money. Silicon Valley Bank had been forced to dump some of its bonds at a loss to fund its customers’ withdrawals. Under the Fed’s new program, banks can post those securities as collateral and borrow from the emergency facility.\u003c/p>\n\u003cp>The Treasury has set aside $25 billion to offset any losses incurred under the Fed’s emergency lending facility. Fed officials said, however, that they do not expect to have to use any of that money, given that the securities posted as collateral have a very low risk of default.\u003c/p>\n\u003cp>Analysts said the Fed’s program should be enough to calm financial markets on Monday.\u003c/p>\n\u003cp>“Monday will surely be a stressful day for many in the regional banking sector, but today’s action dramatically reduces the risk of further contagion,” economists at Jefferies, an investment bank, said in a research note.\u003c/p>\n\u003cp>Though Sunday’s steps marked the most extensive government intervention in the banking system since the 2008 financial crisis, its actions are relatively limited compared with what was done 15 years ago. The two failed banks themselves have not been rescued, and taxpayer money has not been provided to the banks.\u003c/p>\n\u003cp>President Joe Biden said Sunday evening as he boarded Air Force One to Washington that he would speak about the bank situation on Monday. In a statement, Biden also said he was “firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.”\u003c/p>\n\u003cp>Regulators had to rush to close Silicon Valley Bank, a financial institution with more than $200 billion in assets, on Friday when it experienced a traditional run on the bank where depositors rushed to withdraw their funds all at once. It is the second-largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual.\u003c/p>\n\u003cp>Some prominent Silicon Valley executives feared that if the federal government didn’t rescue the failed bank, \u003ca href=\"https://apnews.com/article/silicon-valley-bank-janet-yellen-bailout-fdic-fail-failed-c224cf4d2ef07c70cd27e7d0d3be628b\">customers would make runs on other financial institutions\u003c/a> in the coming days. Stock prices plunged over the last few days at other banks that cater to technology companies, including First Republic Bank and PacWest Bank.\u003c/p>\n\u003cp>Among the bank’s customers are a range of companies, from the local wine industry and technology start-ups devoted to combating climate change. Sunrun, which sells and leases solar energy systems, had less than $80 million of cash deposits with Silicon Valley. Stitch Fix, the clothing retail website, disclosed recently that it had a credit line of up to $100 million with Silicon Valley Bank and other lenders.\u003c/p>\n\u003cp>Tiffany Dufu, founder and CEO of The Cru, a New York-based career coaching platform and community for women, posted a video Sunday on LinkedIn from an airport bathroom, saying the bank crisis was \u003ca href=\"https://www.linkedin.com/feed/update/urn:li:activity:7040727755319037952/\">testing her resiliency\u003c/a>. Given that her money was tied up at Silicon Valley Bank, she had to pay her employees out of her personal bank account. With two teenagers to support who will be heading to college, she said she was relieved to hear that the government’s intent is to make depositors whole.\u003c/p>\n\u003cp>“Small businesses and early stage start-ups don’t have a lot of access to leverage in a situation like this, and we’re often in a very vulnerable position, particularly when we have to fight so hard to get the wires into your bank account to begin with, particularly for me, as a Black female founder,” Dufu told The Associated Press.\u003c/p>\n\u003cp>Silicon Valley Bank began its slide into insolvency when its customers, largely technology companies that needed cash as they struggled to get financing, started withdrawing their deposits. The bank had to sell bonds at a loss to cover the withdrawals, leading to the largest failure of a U.S. financial institution since the height of the financial crisis.\u003c/p>\n\u003cp>Treasury Secretary Janet Yellen pointed to rising interest rates, which have been \u003ca href=\"https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90\">increased by the Federal Reserve\u003c/a> to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed.\u003c/p>\n\u003cp>Sheila Bair, who was chair of the FDIC during the 2008 financial crisis, recalled that with nearly all the bank failures then, “we sold a failed bank to a healthy bank. And usually, the healthy acquirer would also cover the uninsured because they wanted the franchise value of those large depositors, so optimally, that’s the best outcome.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>But with Silicon Valley Bank, she told NBC’s \u003cem>Meet the Press\u003c/em>, “this was a liquidity failure, it was a bank run, so they didn’t have time to prepare to market the bank. So they’re having to do that now, and playing catchup.”\u003c/p>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>The U.S. rushed to seize the assets of Silicon Valley Bank on Friday after it experienced a run on the bank, the second biggest bank failure in history after \u003ca href=\"https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6\">Washington Mutual\u003c/a> during the height of the financial crisis more than a decade ago.\u003c/p>\n\u003cp>Silicon Valley, the nation’s 16th-largest bank, failed after depositors — mostly technology workers and venture capital-backed companies — hurried to withdraw money this week as anxiety over the bank’s balance sheet spread.\u003c/p>\n\u003cp>Silicon Valley was \u003ca href=\"https://apnews.com/article/technology-amazoncom-inc-europe-software-business-b23cd72310f20ce2320a36eadc26eded\">heavily exposed to the tech industry\u003c/a>, and there is little chance of contagion in the banking sector similar to the chaos in the months leading up to the Great Recession more than a decade ago. The biggest banks — those most likely to cause a systemic economic issue — have healthy balance sheets and plenty of capital.\u003c/p>\n\u003cp>In 2007, the biggest financial crisis since the Great Depression rippled across the globe after mortgage-backed securities tied to ill-advised housing loans rippled from the U.S. to Asia and Europe. The panic on Wall Street led to the collapse of the storied Lehman Brothers, founded in 1847. Because major banks had extensive exposure to one another, it led to cascading disruption throughout the global financial system, putting millions out of work.\u003c/p>\n\u003cfigure id=\"attachment_11943242\" class=\"wp-caption alignnone\" style=\"max-width: 800px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-11943242\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2023/03/GettyImages-1472604869-800x548.jpg\" alt='A small crowd of people is seen reflected from the window of SVBN headquarters, with the word \"SVB\" on the window in the foreground. Behind the crowd is a carpark on a grey and cloudy day.' width=\"800\" height=\"548\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-800x548.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-1020x699.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-160x110.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869.jpg 1024w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003cfigcaption class=\"wp-caption-text\">People line up outside the shuttered Silicon Valley Bank headquarters on March 10, 2023, in Santa Clara. \u003ccite>(Justin Sullivan/Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>However, there has been unease in the banking sector all week, and the collapse of Silicon Valley pushed shares of almost all financial institutions lower Friday, when they’d already tumbled by double digits since Monday.\u003c/p>\n\u003cp>Silicon Valley Bank’s failure arrived with incredible speed, with some industry analysts on Friday suggesting it was a good company and still likely a wise investment. SVB executives were trying to raise capital early Friday and find additional investors. However, trading in the bank’s shares was halted before the opening bell due to extreme volatility.\u003c/p>\n\u003cp>Shortly before noon Eastern Time, the Federal Deposit Insurance Corporation moved to shutter the bank. Notably, the FDIC did not wait until the close of business to seize the bank, as is typical in an orderly winding down of a financial institution. The FDIC could not immediately find a buyer for the bank’s assets, signaling how fast depositors had cashed out. The bank’s remaining uninsured deposits will now be locked up in receivership.[pullquote align=\"right\" size=\"medium\" citation=\"Ashley Tyrner, CEO, FarmboxRx\"]‘One friend said they couldn’t make payroll today and cried when they had to inform 200 employees because of this issue.’[/pullquote]The bank had $209 billion in total assets at the time of failure, the FDIC said. It was unclear how much of its deposits were above the $250,000 insurance limit at the moment, but previous regulatory reports showed that much of Silicon Valley Bank’s deposits exceeded that limit.\u003c/p>\n\u003cp>The FDIC said Friday that deposits below the $250,000 limit would be available Monday morning.\u003c/p>\n\u003cp>Silicon Valley Bank still appeared stable this year, but on Thursday it announced plans to raise up to $1.75 billion to strengthen its capital position. That sent investors scurrying and shares plunging 60%. They rocketed lower again Friday before the opening of the Nasdaq, where it is traded.\u003c/p>\n\u003cp>As its name implied, Silicon Valley Bank was a major financial conduit among the technology sector, its founders and start-ups as well as its workers. Hundreds of companies held their operating capital with the bank, and it was seen as good business sense to develop a relationship with Silicon Valley Bank if a founder wanted to find new investors or go public.\u003c/p>\n\u003cp>“We saw building a relationship with Silicon Valley Bank as a logical step, given their reach,” said Ashley Tyrner, CEO of FarmboxRx, a company that delivers food as medicine to Medicaid and Medicare recipients. While Tyrner has money in other banks and can make payroll, she said a good portion of her business’s profits are now locked up with the bank.\u003c/p>\n\u003cp>But Silicon Valley’s connections to the tech sector became a liability rapidly. Technology stocks have been \u003ca href=\"https://apnews.com/article/technology-amazoncom-inc-europe-software-business-b23cd72310f20ce2320a36eadc26eded\">hit hard in the past 18 months\u003c/a> after a growth surge during the pandemic and layoffs throughout the industry.\u003c/p>\n\u003cfigure id=\"attachment_11943252\" class=\"wp-caption alignright\" style=\"max-width: 800px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-11943252\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2023/03/GettyImages-1247999987-800x532.jpg\" alt=\"A white notice is taped to the glass door of SVB headquarters.\" width=\"800\" height=\"532\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-800x532.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-1020x678.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987.jpg 1024w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003cfigcaption class=\"wp-caption-text\">A notice of Silicon Valley Bank’s closure hangs at the bank’s headquarters in Santa Clara on March 10, 2023. \u003ccite>(Noah Berger/AFP via Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>At the same time, the bank was hit hard by the \u003ca href=\"https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90\">Federal Reserve’s fight against inflation\u003c/a> and an aggressive series of interest rate hikes to cool the economy.\u003c/p>\n\u003cp>As the Fed raises its benchmark interest rate, the value of bonds, typically a stable asset, start to fall. That is not typically a problem, as the declines lead to “unrealized losses,” or losses that are not counted against banks when calculating the capital cushion they can use should there be a downturn in the future.\u003c/p>\n\u003cp>However, when depositors grow anxious and begin withdrawing their money, banks sometimes have to sell those bonds before they mature to cover that exodus.\u003c/p>\n\u003cp>That is exactly what happened to Silicon Valley Bank, which had to sell $21 billion in highly liquid assets to cover the exodus of deposits. It took a $1.8 billion loss on that sale.\u003c/p>\n\u003cp>Tyrner said she’s spoken to several friends who are backed by venture capital. She described those friends as being “beside themselves” over the bank’s failure. Tyrner’s chief operating officer tried to withdraw her company’s funds on Thursday, but failed to do so in time.\u003c/p>\n\u003cp>“One friend said they couldn’t make payroll today and cried when they had to inform 200 employees because of this issue,” Tyrner said.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>The U.S. rushed to seize the assets of Silicon Valley Bank on Friday after it experienced a run on the bank, the second biggest bank failure in history after \u003ca href=\"https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6\">Washington Mutual\u003c/a> during the height of the financial crisis more than a decade ago.\u003c/p>\n\u003cp>Silicon Valley, the nation’s 16th-largest bank, failed after depositors — mostly technology workers and venture capital-backed companies — hurried to withdraw money this week as anxiety over the bank’s balance sheet spread.\u003c/p>\n\u003cp>Silicon Valley was \u003ca href=\"https://apnews.com/article/technology-amazoncom-inc-europe-software-business-b23cd72310f20ce2320a36eadc26eded\">heavily exposed to the tech industry\u003c/a>, and there is little chance of contagion in the banking sector similar to the chaos in the months leading up to the Great Recession more than a decade ago. The biggest banks — those most likely to cause a systemic economic issue — have healthy balance sheets and plenty of capital.\u003c/p>\n\u003cp>In 2007, the biggest financial crisis since the Great Depression rippled across the globe after mortgage-backed securities tied to ill-advised housing loans rippled from the U.S. to Asia and Europe. The panic on Wall Street led to the collapse of the storied Lehman Brothers, founded in 1847. Because major banks had extensive exposure to one another, it led to cascading disruption throughout the global financial system, putting millions out of work.\u003c/p>\n\u003cfigure id=\"attachment_11943242\" class=\"wp-caption alignnone\" style=\"max-width: 800px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-11943242\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2023/03/GettyImages-1472604869-800x548.jpg\" alt='A small crowd of people is seen reflected from the window of SVBN headquarters, with the word \"SVB\" on the window in the foreground. Behind the crowd is a carpark on a grey and cloudy day.' width=\"800\" height=\"548\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-800x548.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-1020x699.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869-160x110.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1472604869.jpg 1024w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003cfigcaption class=\"wp-caption-text\">People line up outside the shuttered Silicon Valley Bank headquarters on March 10, 2023, in Santa Clara. \u003ccite>(Justin Sullivan/Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>However, there has been unease in the banking sector all week, and the collapse of Silicon Valley pushed shares of almost all financial institutions lower Friday, when they’d already tumbled by double digits since Monday.\u003c/p>\n\u003cp>Silicon Valley Bank’s failure arrived with incredible speed, with some industry analysts on Friday suggesting it was a good company and still likely a wise investment. SVB executives were trying to raise capital early Friday and find additional investors. However, trading in the bank’s shares was halted before the opening bell due to extreme volatility.\u003c/p>\n\u003cp>Shortly before noon Eastern Time, the Federal Deposit Insurance Corporation moved to shutter the bank. Notably, the FDIC did not wait until the close of business to seize the bank, as is typical in an orderly winding down of a financial institution. The FDIC could not immediately find a buyer for the bank’s assets, signaling how fast depositors had cashed out. The bank’s remaining uninsured deposits will now be locked up in receivership.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>The bank had $209 billion in total assets at the time of failure, the FDIC said. It was unclear how much of its deposits were above the $250,000 insurance limit at the moment, but previous regulatory reports showed that much of Silicon Valley Bank’s deposits exceeded that limit.\u003c/p>\n\u003cp>The FDIC said Friday that deposits below the $250,000 limit would be available Monday morning.\u003c/p>\n\u003cp>Silicon Valley Bank still appeared stable this year, but on Thursday it announced plans to raise up to $1.75 billion to strengthen its capital position. That sent investors scurrying and shares plunging 60%. They rocketed lower again Friday before the opening of the Nasdaq, where it is traded.\u003c/p>\n\u003cp>As its name implied, Silicon Valley Bank was a major financial conduit among the technology sector, its founders and start-ups as well as its workers. Hundreds of companies held their operating capital with the bank, and it was seen as good business sense to develop a relationship with Silicon Valley Bank if a founder wanted to find new investors or go public.\u003c/p>\n\u003cp>“We saw building a relationship with Silicon Valley Bank as a logical step, given their reach,” said Ashley Tyrner, CEO of FarmboxRx, a company that delivers food as medicine to Medicaid and Medicare recipients. While Tyrner has money in other banks and can make payroll, she said a good portion of her business’s profits are now locked up with the bank.\u003c/p>\n\u003cp>But Silicon Valley’s connections to the tech sector became a liability rapidly. Technology stocks have been \u003ca href=\"https://apnews.com/article/technology-amazoncom-inc-europe-software-business-b23cd72310f20ce2320a36eadc26eded\">hit hard in the past 18 months\u003c/a> after a growth surge during the pandemic and layoffs throughout the industry.\u003c/p>\n\u003cfigure id=\"attachment_11943252\" class=\"wp-caption alignright\" style=\"max-width: 800px\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-11943252\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2023/03/GettyImages-1247999987-800x532.jpg\" alt=\"A white notice is taped to the glass door of SVB headquarters.\" width=\"800\" height=\"532\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-800x532.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-1020x678.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987-160x106.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2023/03/GettyImages-1247999987.jpg 1024w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003cfigcaption class=\"wp-caption-text\">A notice of Silicon Valley Bank’s closure hangs at the bank’s headquarters in Santa Clara on March 10, 2023. \u003ccite>(Noah Berger/AFP via Getty Images)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>At the same time, the bank was hit hard by the \u003ca href=\"https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90\">Federal Reserve’s fight against inflation\u003c/a> and an aggressive series of interest rate hikes to cool the economy.\u003c/p>\n\u003cp>As the Fed raises its benchmark interest rate, the value of bonds, typically a stable asset, start to fall. That is not typically a problem, as the declines lead to “unrealized losses,” or losses that are not counted against banks when calculating the capital cushion they can use should there be a downturn in the future.\u003c/p>\n\u003cp>However, when depositors grow anxious and begin withdrawing their money, banks sometimes have to sell those bonds before they mature to cover that exodus.\u003c/p>\n\u003cp>That is exactly what happened to Silicon Valley Bank, which had to sell $21 billion in highly liquid assets to cover the exodus of deposits. It took a $1.8 billion loss on that sale.\u003c/p>\n\u003cp>Tyrner said she’s spoken to several friends who are backed by venture capital. She described those friends as being “beside themselves” over the bank’s failure. Tyrner’s chief operating officer tried to withdraw her company’s funds on Thursday, but failed to do so in time.\u003c/p>\n\u003cp>“One friend said they couldn’t make payroll today and cried when they had to inform 200 employees because of this issue,” Tyrner said.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>A year ago, 80% of the roughly 30 Ukrainians working for San Francisco-based outsourcing company JetBridge \u003ca href=\"https://www.kqed.org/news/11906302/why-russias-invasion-of-ukraine-is-personal-for-silicon-valley\">fled Ukraine following Russia’s invasion\u003c/a>. Now, they’re all back in western Ukraine, which is relatively safer. But that’s not to say everything’s normal outside of work.\u003c/p>\n\u003cp>“Everyone is physically OK, but lack of electricity is a huge problem now,” said CEO John Sung Kim. He’s married to a Ukrainian and his in-laws live in recently liberated Mykolayiv. He worries the city might be shelled again, or his family could be drafted, or both. He worries that might happen to his employees. They worry, too.\u003c/p>\n\u003cp>“I can see on Zoom that they’re starting to get the 10,000-yard stare, from trauma,” Kim said.\u003c/p>\n\u003cp>The company’s Belarus-based workforce of five — also displaced following Russia’s invasion of Ukraine — is now in Poland.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>For years, Ukraine has been one of Silicon Valley’s favorite offshore outposts for educated, cheap IT labor. Google, Grammarly, Oracle and many other companies employ workers in Ukraine.\u003c/p>\n\u003cp>“We are proud to be Ukraine-founded and -built, with many team members who call Ukraine home,” Brad Hoover, CEO of San Francisco-based Grammarly, \u003ca href=\"https://www.grammarly.com/blog/support-ukraine-2023/\">posted recently on the company blog\u003c/a>. “I’m inspired by our colleagues in Ukraine who persevere through daily challenges with grit and adaptability. I admire the strength and bravery of team members who volunteer, fundraise, and serve in Ukraine’s armed forces to defend their homeland.”\u003c/p>\n\u003cp>https://twitter.com/Grammarly/status/1612491205715103752?s=20\u003c/p>\n\u003cp>A recent \u003ca href=\"https://blog.google/outreach-initiatives/public-policy/updates-google-support-for-ukraine/\">Google blog post\u003c/a> details how the Mountain View-based global tech giant has supported Ukraine, ranging from campaigns to counter Russian disinformation about the invasion to the \u003ca href=\"https://www.campus.co/europe/ukraine-support-fund/\">Google for Startups Ukraine Support Fund\u003c/a>, designed to help Ukrainian businesses “maintain liquidity, continue operations and incentivize further investment.”\u003c/p>\n\u003cp>While many Ukrainians have fled to safer places, including the United States, others have stayed or returned out of patriotism, or because they don’t want to leave family behind. Also, they’ve gotten used to military conflict with Russia stretching back to the invasion of 2014.\u003c/p>\n\u003cp>Andy Kurtzig, CEO of the San Francisco-based online expert platform JustAnswer, has about 315 employees based in Ukraine. That’s up roughly 65 people from last year, because, like JetBridge, JustAnswer has hired more people from Ukraine over the past year, despite the Russian invasion.\u003c/p>\n\u003cp>“We’re fairly well-prepared,” Kurtzig said. “We do have generators at our offices. We do have Starlink’s internet at our offices. And so it’s interesting — a lot of our employees, and their families, even, come to our office when the power goes out, because they can take a hot shower and they, you know, charge their devices, and be warm.”\u003c/p>\n\u003cp>Kurtzig and his company have \u003ca href=\"https://www.prnewswire.com/news-releases/justanswer-and-the-arizae-foundation-have-raised-more-than-3-million-in-support-of-ukraines-fight-for-freedom-301720473.html\">done a number of things to support Ukraine\u003c/a>: set up a \u003ca href=\"https://www.arizae.org/\">nonprofit\u003c/a> that’s \u003ca href=\"https://www.prnewswire.com/news-releases/justanswer-and-the-arizae-foundation-have-raised-more-than-3-million-in-support-of-ukraines-fight-for-freedom-301720473.html\">raised more than $3 million\u003c/a>, built a mental health center, and directed employees in updating and upgrading military equipment — JustAnswer engineers based in Ukraine helped upgrade the military’s air defense system in cooperation with the Ukraine military via the company’s partnership with a local group known as the Lviv IT Cluster.\u003c/p>\n\u003cp>Both Kim and Kurtzig say they’re not the only Silicon Valley CEOs doing this kind of thing, and both insist Ukraine will prevail, eventually.\u003c/p>\n\u003cp>Kurtzig has visited Ukraine twice since the war started, and plans to go again next week. What explains his personal passion for the country? The people.\u003c/p>\n\u003cp>“These are good, kind, smart, talented, funny people that don’t deserve this. I feel like we’ve been in a position to be able to be helpful because of all of our connections there,” Kurtzig said.\u003c/p>\n\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>A year ago, 80% of the roughly 30 Ukrainians working for San Francisco-based outsourcing company JetBridge \u003ca href=\"https://www.kqed.org/news/11906302/why-russias-invasion-of-ukraine-is-personal-for-silicon-valley\">fled Ukraine following Russia’s invasion\u003c/a>. Now, they’re all back in western Ukraine, which is relatively safer. But that’s not to say everything’s normal outside of work.\u003c/p>\n\u003cp>“Everyone is physically OK, but lack of electricity is a huge problem now,” said CEO John Sung Kim. He’s married to a Ukrainian and his in-laws live in recently liberated Mykolayiv. He worries the city might be shelled again, or his family could be drafted, or both. He worries that might happen to his employees. They worry, too.\u003c/p>\n\u003cp>“I can see on Zoom that they’re starting to get the 10,000-yard stare, from trauma,” Kim said.\u003c/p>\n\u003cp>The company’s Belarus-based workforce of five — also displaced following Russia’s invasion of Ukraine — is now in Poland.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>For years, Ukraine has been one of Silicon Valley’s favorite offshore outposts for educated, cheap IT labor. Google, Grammarly, Oracle and many other companies employ workers in Ukraine.\u003c/p>\n\u003cp>“We are proud to be Ukraine-founded and -built, with many team members who call Ukraine home,” Brad Hoover, CEO of San Francisco-based Grammarly, \u003ca href=\"https://www.grammarly.com/blog/support-ukraine-2023/\">posted recently on the company blog\u003c/a>. “I’m inspired by our colleagues in Ukraine who persevere through daily challenges with grit and adaptability. I admire the strength and bravery of team members who volunteer, fundraise, and serve in Ukraine’s armed forces to defend their homeland.”\u003c/p>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\n\u003cp>A recent \u003ca href=\"https://blog.google/outreach-initiatives/public-policy/updates-google-support-for-ukraine/\">Google blog post\u003c/a> details how the Mountain View-based global tech giant has supported Ukraine, ranging from campaigns to counter Russian disinformation about the invasion to the \u003ca href=\"https://www.campus.co/europe/ukraine-support-fund/\">Google for Startups Ukraine Support Fund\u003c/a>, designed to help Ukrainian businesses “maintain liquidity, continue operations and incentivize further investment.”\u003c/p>\n\u003cp>While many Ukrainians have fled to safer places, including the United States, others have stayed or returned out of patriotism, or because they don’t want to leave family behind. Also, they’ve gotten used to military conflict with Russia stretching back to the invasion of 2014.\u003c/p>\n\u003cp>Andy Kurtzig, CEO of the San Francisco-based online expert platform JustAnswer, has about 315 employees based in Ukraine. That’s up roughly 65 people from last year, because, like JetBridge, JustAnswer has hired more people from Ukraine over the past year, despite the Russian invasion.\u003c/p>\n\u003cp>“We’re fairly well-prepared,” Kurtzig said. “We do have generators at our offices. We do have Starlink’s internet at our offices. And so it’s interesting — a lot of our employees, and their families, even, come to our office when the power goes out, because they can take a hot shower and they, you know, charge their devices, and be warm.”\u003c/p>\n\u003cp>Kurtzig and his company have \u003ca href=\"https://www.prnewswire.com/news-releases/justanswer-and-the-arizae-foundation-have-raised-more-than-3-million-in-support-of-ukraines-fight-for-freedom-301720473.html\">done a number of things to support Ukraine\u003c/a>: set up a \u003ca href=\"https://www.arizae.org/\">nonprofit\u003c/a> that’s \u003ca href=\"https://www.prnewswire.com/news-releases/justanswer-and-the-arizae-foundation-have-raised-more-than-3-million-in-support-of-ukraines-fight-for-freedom-301720473.html\">raised more than $3 million\u003c/a>, built a mental health center, and directed employees in updating and upgrading military equipment — JustAnswer engineers based in Ukraine helped upgrade the military’s air defense system in cooperation with the Ukraine military via the company’s partnership with a local group known as the Lviv IT Cluster.\u003c/p>\n\u003cp>Both Kim and Kurtzig say they’re not the only Silicon Valley CEOs doing this kind of thing, and both insist Ukraine will prevail, eventually.\u003c/p>\n\u003cp>Kurtzig has visited Ukraine twice since the war started, and plans to go again next week. What explains his personal passion for the country? The people.\u003c/p>\n\u003cp>“These are good, kind, smart, talented, funny people that don’t deserve this. I feel like we’ve been in a position to be able to be helpful because of all of our connections there,” Kurtzig said.\u003c/p>\n\u003cp>\u003c/p>\n\u003c/div>\u003c/p>",
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"content": "\u003cp>A new study of Silicon Valley wealth, income and other economic measures shows vast disparities in one of the country’s wealthiest regions, with the top 10% of households holding 66% of the investable assets in the region last year.\u003c/p>\n\u003cp>In Santa Clara and San Mateo counties, \u003ca href=\"https://jointventure.org/download-the-2023-index\">just eight households held more wealth than the bottom 50%\u003c/a> (nearly half a million households), according to the Silicon Valley Index, an annual report by the Silicon Valley Institute for Regional Studies, the research arm of Joint Venture Silicon Valley.[pullquote align=\"right\" size=\"medium\" citation=\"Russell Hancock, chief executive, Silicon Valley Institute for Regional Studies\"]‘We live in a capitalist system that is based on markets. There’s rules to the game; the rules are fair. In Silicon Valley, we have some of the world’s biggest winners.’[/pullquote]“We live in a capitalist system that is based on markets,” said Russell Hancock, chief executive of the San José-based think tank. “There’s rules to the game; the rules are fair. In Silicon Valley, we have some of the world’s biggest winners.”\u003c/p>\n\u003cp>Hancock added that the report highlights the need for more investments in education and “equipping people for success.”\u003c/p>\n\u003cp>The institute defines Silicon Valley as Santa Clara and San Mateo counties, as well as parts of Santa Cruz and southern Alameda counties. The think tank also includes San Francisco in some of its metrics. The report focused solely on data from Santa Clara and San Mateo counties for its wealth analyses.\u003c/p>\n\u003cp>Wealth inequality in Silicon Valley is more pronounced than in the U.S. overall, or globally, with the top 1% of households holding 48 times more of the total wealth than the bottom 50%, according to the report. That compares to 23 times nationally and globally, the report said.\u003c/p>\n\u003ch2>Ultra rich\u003c/h2>\n\u003cp>The report estimates Silicon Valley’s aggregate household wealth is nearly $1.1 trillion, when it counts ultra-high-net-worth individuals.\u003c/p>\n\u003cp>The report marks the first time the think tank published wealth estimates that include data on these ultra-high-net-worth individuals, whom the institute defined as those with net investable assets of $30 million or more.\u003c/p>\n\u003cp>Such assets are those that are held in cash, or can easily and quickly be converted into cash, including checking accounts, certificates of deposit and retirement accounts. The group did not count houses, cars or other nonliquid financial holdings as investable assets.\u003c/p>\n\u003cp>Santa Clara and San Mateo counties had 163,000 millionaire households in 2022, which the report defined as households that had more than $1 million in investable assets. That translates to less than 1% of the region’s population holding about 36% of its wealth.\u003c/p>\n\u003cp>And an estimated 8,300 households held more than $10 million in investable assets, according to the report.\u003c/p>\n\u003cp>Conversely, there were about 220,000 Silicon Valley households with fewer than $5,000 in total assets.\u003c/p>\n\u003cp>About 23% of Silicon Valley residents lived below the poverty threshold in 2021, a three-percentage-point increase from 2019. Two percent of Silicon Valley households, or about 22,000 households, did not hold bank accounts.\u003cbr>\n\u003c!-- iframe plugin v.4.3 wordpress.org/plugins/iframe/ -->\u003cbr>\n\u003ciframe loading=\"lazy\" src=\"https://flo.uri.sh/visualisation/12779669/embed\" title=\"Interactive or visual content\" class=\"flourish-embed-iframe\" frameborder=\"0\" scrolling=\"no\" style=\"width:100%;height:600px;\" sandbox=\"allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation\" width=\"100%\" height=\"500\">\u003c/iframe>\u003cbr>\nThe report also noted that while income inequality was lessening statewide, down 1%, as well as nationally, down 3%, income inequality rose in Silicon Valley by 5% in 2021. Generally, the pace of income inequality growth since the 2009 recession has been twice that of the nation, the report said.\u003c/p>\n\u003cp>The disparities in Silicon Valley began in earnest in the 1990s, when the internet economy first took off, and grew more pronounced after 2010, following the Great Recession. The first two years of the pandemic exacerbated the inequality, the report said.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>“We live in a capitalist system that is based on markets,” said Russell Hancock, chief executive of the San José-based think tank. “There’s rules to the game; the rules are fair. In Silicon Valley, we have some of the world’s biggest winners.”\u003c/p>\n\u003cp>Hancock added that the report highlights the need for more investments in education and “equipping people for success.”\u003c/p>\n\u003cp>The institute defines Silicon Valley as Santa Clara and San Mateo counties, as well as parts of Santa Cruz and southern Alameda counties. The think tank also includes San Francisco in some of its metrics. The report focused solely on data from Santa Clara and San Mateo counties for its wealth analyses.\u003c/p>\n\u003cp>Wealth inequality in Silicon Valley is more pronounced than in the U.S. overall, or globally, with the top 1% of households holding 48 times more of the total wealth than the bottom 50%, according to the report. That compares to 23 times nationally and globally, the report said.\u003c/p>\n\u003ch2>Ultra rich\u003c/h2>\n\u003cp>The report estimates Silicon Valley’s aggregate household wealth is nearly $1.1 trillion, when it counts ultra-high-net-worth individuals.\u003c/p>\n\u003cp>The report marks the first time the think tank published wealth estimates that include data on these ultra-high-net-worth individuals, whom the institute defined as those with net investable assets of $30 million or more.\u003c/p>\n\u003cp>Such assets are those that are held in cash, or can easily and quickly be converted into cash, including checking accounts, certificates of deposit and retirement accounts. The group did not count houses, cars or other nonliquid financial holdings as investable assets.\u003c/p>\n\u003cp>Santa Clara and San Mateo counties had 163,000 millionaire households in 2022, which the report defined as households that had more than $1 million in investable assets. That translates to less than 1% of the region’s population holding about 36% of its wealth.\u003c/p>\n\u003cp>And an estimated 8,300 households held more than $10 million in investable assets, according to the report.\u003c/p>\n\u003cp>Conversely, there were about 220,000 Silicon Valley households with fewer than $5,000 in total assets.\u003c/p>\n\u003cp>About 23% of Silicon Valley residents lived below the poverty threshold in 2021, a three-percentage-point increase from 2019. Two percent of Silicon Valley households, or about 22,000 households, did not hold bank accounts.\u003cbr>\n\u003c!-- iframe plugin v.4.3 wordpress.org/plugins/iframe/ -->\u003cbr>\n\u003ciframe loading=\"lazy\" src=\"https://flo.uri.sh/visualisation/12779669/embed\" title=\"Interactive or visual content\" class=\"flourish-embed-iframe\" frameborder=\"0\" scrolling=\"no\" style=\"width:100%;height:600px;\" sandbox=\"allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation\" width=\"100%\" height=\"500\">\u003c/iframe>\u003cbr>\nThe report also noted that while income inequality was lessening statewide, down 1%, as well as nationally, down 3%, income inequality rose in Silicon Valley by 5% in 2021. Generally, the pace of income inequality growth since the 2009 recession has been twice that of the nation, the report said.\u003c/p>\n\u003cp>The disparities in Silicon Valley began in earnest in the 1990s, when the internet economy first took off, and grew more pronounced after 2010, following the Great Recession. The first two years of the pandemic exacerbated the inequality, the report said.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>In the aftermath of the \u003ca href=\"https://apnews.com/article/disaster-planning-and-response-2023-turkey-syria-earthquake-earthquakes-a7ae0cf86757d238dc0dd5f6a5dd96ce\">devastating earthquake in Turkey and Syria\u003c/a>, thousands of volunteer software developers have been using a crucial Twitter tool to comb the platform for calls for help — including from people trapped in collapsed buildings — and connect people with rescue organizations.\u003c/p>\n\u003cp>They \u003ca href=\"https://twitter.com/TwitterDev/status/1623467615539859456?s=20&t=k4WYaBdtiGGMFUwUjL0RTA\">could soon lose access\u003c/a> unless they pay Twitter a monthly fee of at least $100 — prohibitive for many volunteers and nonprofits on shoestring budgets.[pullquote align=\"right\" size=\"medium\" citation=\"Akın Ünver, professor of international relations, Özyeğin University\"]'For Turkish coders working with Twitter API for disaster monitoring purposes, this is particularly worrying — and I'd imagine it is similarly worrying for others around the world that are using Twitter data to monitor emergencies and politically contested events.'[/pullquote]“That’s not just for rescue efforts, which unfortunately we’re coming to the end of, but for logistics planning, too, as people go to Twitter to broadcast their needs,” said Sedat Kapanoğlu, founder of Ekşi Sözlük, Turkey’s most popular social platform, who has been advising some of the volunteers in their efforts.\u003c/p>\n\u003cp>Nonprofits, researchers and others need the tool, known as the API, or application programming interface, to analyze Twitter data because the sheer amount of information makes it impossible for a human to go through piece by piece.\u003c/p>\n\u003cp>Kapanoğlu says hundreds of “good Samaritans” have been giving out their own, premium-paid API access keys (Twitter has already offered a paid version with more features) for use in the rescue efforts. But he says this isn’t “sustainable or the right way” to do this. It might even be against Twitter’s rules.\u003c/p>\n\u003cp>The loss of free API access means an added challenge for the thousands of developers in Turkey and beyond who are working around the clock to harness Twitter’s unique, open ecosystem for disaster relief.\u003c/p>\n\u003cp>“For Turkish coders working with Twitter API for disaster monitoring purposes, this is particularly worrying — and I’d imagine it is similarly worrying for others around the world that are using Twitter data to monitor emergencies and politically contested events,” said Akın Ünver, professor of international relations at Özyeğin University in Istanbul.\u003c/p>\n\u003cp>The new fees are just the latest complication for programmers, academics and others trying to use the API — and they say communicating with anyone at the company has become essentially impossible since Elon Musk took over.[aside label=\"Related Stories\" postID=\"news_11935113,news_11933056,news_11938407\"]Twitter had originally planned to introduce the changes last week, but delayed it until Monday. On Monday, the company \u003ca href=\"https://twitter.com/TwitterDev/status/1625234161010343941\">tweeted\u003c/a> that it was delaying the launch again \"by a few more days,” without providing more details.\u003c/p>\n\u003cp>The API paywall is Musk’s latest attempt to squeeze revenue out of Twitter, which is on the hook for about $1 billion in yearly interest payments from the billionaire’s acquisition, completed in October.\u003c/p>\n\u003cp>It’s not just disaster relief groups that are concerned. Academic and nongovernmental researchers for years have used Twitter to study the spread of misinformation and hate speech or research public health or how people behave online.\u003c/p>\n\u003cp>Rebekah Tromble, director of the Institute for Data, Democracy and Politics at The George Washington University, used the Twitter API to track conversations on Twitter to see what kinds of tweets elicited attacks from trolls — and what got them to go away — in one study.\u003c/p>\n\u003cp>“With so little information from Twitter about the practicalities of this new policy, the specifics of it, we just don’t know where to go. We have no way to do the planning. And for many of us who are in the field, running programs, running projects that have real-world consequences, that’s pretty scary,” she said.\u003c/p>\n\u003cp>Twitter wasn’t alone, but was unique among social media companies, in making its API open and free. TikTok, for instance, is working on it now but so far has not released its API. Facebook's is more limited because the company is very protective of the data it collects.\u003c/p>\n\u003cp>Tromble said social platforms like YouTube, Facebook, Instagram and others are taking steps to increase researcher access and transparency — largely due to new European regulations. Twitter, on the other hand, is moving in the opposite direction.\u003c/p>\n\u003cp>“They’ve gone from first in class to absolute dead last,\" she said.\u003c/p>\n\u003cp>It costs money to maintain an API. And, as a private company, Twitter is free to charge for its tools. But researchers and developers say it wouldn’t take much for Musk to carve out exceptions for academic research and nonprofits.\u003c/p>\n\u003cp>“No other technology has changed society as quickly and as profoundly as social media. Having access to the thoughts and emotions of other people worldwide, that’s a fundamental change to society,” said Kristina Lerman, a computer science professor at the University of Southern California who studies misinformation. “And you can’t understand it without access to data, access to observe.”\u003c/p>\n\u003cp>Takeshi Kawamoto, a Japanese software developer who runs a \u003ca href=\"https://twitter.com/earthquake_jp\">popular earthquake alert bot\u003c/a> with more than 3 million followers, created the account back in 2007 as a hobby.\u003c/p>\n\u003cp>There are an incredible number of such bots on Twitter — useful, friendly or quirky accounts set up by people or groups with a specific interest. There are weather bots, tools that combine long Twitter threads into one easy-to-read file, bots that send quotes from famous books or people, bots that remind you to stand up and stretch at random intervals during the day, bots that insert a little bit of nonsense and weirdness into your Twitter scrolling.\u003c/p>\n\u003cp>The earthquake bot Kawamoto created didn’t take off until the \u003ca href=\"https://apnews.com/article/japan-accidents-tsunamis-earthquakes-42d4947609becd7f141e9524a8c98937\">devastating 2011 earthquake\u003c/a>, tsunami and nuclear disaster that hit Japan, when people turned to it for information about quakes and aftershocks.[pullquote align=\"right\" size=\"medium\" citation=\"Rebekah Tromble, director, Institute for Data, Democracy and Politics, The George Washington University\"]'With so little information from Twitter about the practicalities of this new policy, the specifics of it, we just don't know where to go. We have no way to do the planning. And for many of us who are in the field, running programs, running projects that have real-world consequences, that's pretty scary.'[/pullquote]Kawamoto was ready to shut down the bot when Twitter first announced it was going to charge for API access. Paying $1,200 a year for an account that is decidedly not making a profit was not going to be possible. Last week, Twitter announced it would make a small exception to offer “write-only” API access for free to accounts that send fewer than 1,500 tweets a month.\u003c/p>\n\u003cp>This might help, but Kawamoto says the 1,500 limit will present a problem after a big earthquake with a lot of aftershocks. He would like to ask Musk to allow accounts to post more than 1,500 tweets on a pay-as-you-go basis.\u003c/p>\n\u003cp>So far, San Francisco-based Twitter has offered no other exceptions, although it’s possible Musk will see one of the many tweets from developers working on earthquake relief who have been pleading for a solution.\u003c/p>\n\u003cp>For Mark Sample and his small army of Twitter bots, such as one that would send carefully curated quotes from Herman Melville’s “Moby-Dick” at random intervals, it’s too late. The Moby Dick bot, as well as one that sent out computer clip art from 1994 and one called “weird satellite,” all have left Twitter. Some have moved to Mastodon, the social platform that some discouraged Twitter users have been migrating to.\u003c/p>\n\u003cp>Sample’s bots were part of “weird Twitter,” a quirky subculture of Twitter that peaked in the mid-2010s and included strange, fun, nonsensical bots sending bursts of randomness into people’s feeds.\u003c/p>\n\u003cp>“I’m kind of going through a mourning process, kind of grieving,\" said Sample, professor of digital studies at Davidson College in North Carolina. With the API, \"Twitter was doing something that none of the other social media platforms did, which is kind of like having this open playground. I mean, there were ways that people could take advantage of it and distort things and use it in malevolent ways. But it was also this terrific playground for hobbyists and creative people. None of the other social media platforms had that,” Sample said.\u003c/p>\n\u003cp>For Sample, the breaking point was not the API announcement. Rather, it came last fall when Musk began \u003ca href=\"https://apnews.com/article/elon-musk-twitter-inc-business-layoffs-c0334da78b3af9faf2f43cf3f6e52ffa\">mass firing Twitter workers\u003c/a> and going after journalists who questioned or criticized him, he said. Building apps for a platform when someone just shut it all down on a whim, he said, is \"not a good use of our time and creative energy.”\u003c/p>\n\u003cp>“I mean, it had a good run,\" he said. \"It’s like 15 years or whatever. So it’s a pretty good run. And maybe it’s time for something else.”\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>“That’s not just for rescue efforts, which unfortunately we’re coming to the end of, but for logistics planning, too, as people go to Twitter to broadcast their needs,” said Sedat Kapanoğlu, founder of Ekşi Sözlük, Turkey’s most popular social platform, who has been advising some of the volunteers in their efforts.\u003c/p>\n\u003cp>Nonprofits, researchers and others need the tool, known as the API, or application programming interface, to analyze Twitter data because the sheer amount of information makes it impossible for a human to go through piece by piece.\u003c/p>\n\u003cp>Kapanoğlu says hundreds of “good Samaritans” have been giving out their own, premium-paid API access keys (Twitter has already offered a paid version with more features) for use in the rescue efforts. But he says this isn’t “sustainable or the right way” to do this. It might even be against Twitter’s rules.\u003c/p>\n\u003cp>The loss of free API access means an added challenge for the thousands of developers in Turkey and beyond who are working around the clock to harness Twitter’s unique, open ecosystem for disaster relief.\u003c/p>\n\u003cp>“For Turkish coders working with Twitter API for disaster monitoring purposes, this is particularly worrying — and I’d imagine it is similarly worrying for others around the world that are using Twitter data to monitor emergencies and politically contested events,” said Akın Ünver, professor of international relations at Özyeğin University in Istanbul.\u003c/p>\n\u003cp>The new fees are just the latest complication for programmers, academics and others trying to use the API — and they say communicating with anyone at the company has become essentially impossible since Elon Musk took over.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>Twitter had originally planned to introduce the changes last week, but delayed it until Monday. On Monday, the company \u003ca href=\"https://twitter.com/TwitterDev/status/1625234161010343941\">tweeted\u003c/a> that it was delaying the launch again \"by a few more days,” without providing more details.\u003c/p>\n\u003cp>The API paywall is Musk’s latest attempt to squeeze revenue out of Twitter, which is on the hook for about $1 billion in yearly interest payments from the billionaire’s acquisition, completed in October.\u003c/p>\n\u003cp>It’s not just disaster relief groups that are concerned. Academic and nongovernmental researchers for years have used Twitter to study the spread of misinformation and hate speech or research public health or how people behave online.\u003c/p>\n\u003cp>Rebekah Tromble, director of the Institute for Data, Democracy and Politics at The George Washington University, used the Twitter API to track conversations on Twitter to see what kinds of tweets elicited attacks from trolls — and what got them to go away — in one study.\u003c/p>\n\u003cp>“With so little information from Twitter about the practicalities of this new policy, the specifics of it, we just don’t know where to go. We have no way to do the planning. And for many of us who are in the field, running programs, running projects that have real-world consequences, that’s pretty scary,” she said.\u003c/p>\n\u003cp>Twitter wasn’t alone, but was unique among social media companies, in making its API open and free. TikTok, for instance, is working on it now but so far has not released its API. Facebook's is more limited because the company is very protective of the data it collects.\u003c/p>\n\u003cp>Tromble said social platforms like YouTube, Facebook, Instagram and others are taking steps to increase researcher access and transparency — largely due to new European regulations. Twitter, on the other hand, is moving in the opposite direction.\u003c/p>\n\u003cp>“They’ve gone from first in class to absolute dead last,\" she said.\u003c/p>\n\u003cp>It costs money to maintain an API. And, as a private company, Twitter is free to charge for its tools. But researchers and developers say it wouldn’t take much for Musk to carve out exceptions for academic research and nonprofits.\u003c/p>\n\u003cp>“No other technology has changed society as quickly and as profoundly as social media. Having access to the thoughts and emotions of other people worldwide, that’s a fundamental change to society,” said Kristina Lerman, a computer science professor at the University of Southern California who studies misinformation. “And you can’t understand it without access to data, access to observe.”\u003c/p>\n\u003cp>Takeshi Kawamoto, a Japanese software developer who runs a \u003ca href=\"https://twitter.com/earthquake_jp\">popular earthquake alert bot\u003c/a> with more than 3 million followers, created the account back in 2007 as a hobby.\u003c/p>\n\u003cp>There are an incredible number of such bots on Twitter — useful, friendly or quirky accounts set up by people or groups with a specific interest. There are weather bots, tools that combine long Twitter threads into one easy-to-read file, bots that send quotes from famous books or people, bots that remind you to stand up and stretch at random intervals during the day, bots that insert a little bit of nonsense and weirdness into your Twitter scrolling.\u003c/p>\n\u003cp>The earthquake bot Kawamoto created didn’t take off until the \u003ca href=\"https://apnews.com/article/japan-accidents-tsunamis-earthquakes-42d4947609becd7f141e9524a8c98937\">devastating 2011 earthquake\u003c/a>, tsunami and nuclear disaster that hit Japan, when people turned to it for information about quakes and aftershocks.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>Kawamoto was ready to shut down the bot when Twitter first announced it was going to charge for API access. Paying $1,200 a year for an account that is decidedly not making a profit was not going to be possible. Last week, Twitter announced it would make a small exception to offer “write-only” API access for free to accounts that send fewer than 1,500 tweets a month.\u003c/p>\n\u003cp>This might help, but Kawamoto says the 1,500 limit will present a problem after a big earthquake with a lot of aftershocks. He would like to ask Musk to allow accounts to post more than 1,500 tweets on a pay-as-you-go basis.\u003c/p>\n\u003cp>So far, San Francisco-based Twitter has offered no other exceptions, although it’s possible Musk will see one of the many tweets from developers working on earthquake relief who have been pleading for a solution.\u003c/p>\n\u003cp>For Mark Sample and his small army of Twitter bots, such as one that would send carefully curated quotes from Herman Melville’s “Moby-Dick” at random intervals, it’s too late. The Moby Dick bot, as well as one that sent out computer clip art from 1994 and one called “weird satellite,” all have left Twitter. Some have moved to Mastodon, the social platform that some discouraged Twitter users have been migrating to.\u003c/p>\n\u003cp>Sample’s bots were part of “weird Twitter,” a quirky subculture of Twitter that peaked in the mid-2010s and included strange, fun, nonsensical bots sending bursts of randomness into people’s feeds.\u003c/p>\n\u003cp>“I’m kind of going through a mourning process, kind of grieving,\" said Sample, professor of digital studies at Davidson College in North Carolina. With the API, \"Twitter was doing something that none of the other social media platforms did, which is kind of like having this open playground. I mean, there were ways that people could take advantage of it and distort things and use it in malevolent ways. But it was also this terrific playground for hobbyists and creative people. None of the other social media platforms had that,” Sample said.\u003c/p>\n\u003cp>For Sample, the breaking point was not the API announcement. Rather, it came last fall when Musk began \u003ca href=\"https://apnews.com/article/elon-musk-twitter-inc-business-layoffs-c0334da78b3af9faf2f43cf3f6e52ffa\">mass firing Twitter workers\u003c/a> and going after journalists who questioned or criticized him, he said. Building apps for a platform when someone just shut it all down on a whim, he said, is \"not a good use of our time and creative energy.”\u003c/p>\n\u003cp>“I mean, it had a good run,\" he said. \"It’s like 15 years or whatever. So it’s a pretty good run. And maybe it’s time for something else.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"slug": "a-layoff-spree-at-bay-area-tech-companies",
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"content": "\u003cp>\u003cspan style=\"font-weight: 400\">You’ve seen the news by now: tech companies are laying people off in droves. Nearly 60,000 people have been laid off from Bay Area-based tech companies since November 2022, according to the latest estimates from Layoffs.fyi, \u003c/span>\u003cspan style=\"font-weight: 400\">a website that has tracked tech layoffs since the start of the pandemic\u003c/span>\u003cspan style=\"font-weight: 400\">. \u003c/span>\u003c/p>\n\u003cp>\u003cspan style=\"font-weight: 400\">Companies cite everything from the need to cut costs, to over-hiring during the pandemic, to fears of a looming recession. \u003c/span>\u003cspan style=\"font-weight: 400\">But what’s really going on? And what does it mean for the tens of thousands of people who once worked in an industry that is famous for the perks, fancy offices, high pay, and stability?\u003c/span>\u003c/p>\n\u003cp>\u003cb>Guest:\u003c/b> \u003cspan style=\"font-weight: 400\">\u003ca href=\"https://twitter.com/KevinNguyen_89\">Kevin Vu Nguyen\u003c/a>, Bay Area journalist whose work has appeared in the SF Standard, the Sacramento Bee, and the Guardian\u003c/span>\u003c/p>\n\u003cp>\u003c!-- iframe plugin v.4.3 wordpress.org/plugins/iframe/ -->\u003cbr>\n\u003ciframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https://playlist.megaphone.fm/?e=KQINC6949236508\" width=\"100%\" class=\"iframe-class\">\u003c/iframe>\u003c/p>\n\u003cp>\u003ca href=\"http://bit.ly/3YfiFKk\" target=\"_blank\" rel=\"noopener\">\u003cem>Episode Transcript\u003c/em>\u003c/a>\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>\u003cstrong>Links:\u003c/strong>\u003c/p>\n\u003cul>\n\u003cli>READ: \u003cstrong>\u003ca href=\"https://sfstandard.com/business/laid-off-tech-workers-are-bracing-for-a-difficult-future/\">Laid-Off Tech Workers Are Bracing for a Difficult Future\u003c/a>,\u003c/strong> by Kevin V. Nguyen\n\u003cdiv class=\"flex flex-col text-sm\">\u003c/div>\n\u003c/li>\n\u003cli>LISTEN: \u003ca href=\"https://www.kqed.org/news/11933923/a-frantic-job-hunt-for-h-1b-visa-holders-in-tech\">\u003cstrong>A Frantic Job Hunt for H-1B Visa Holders in Tech\u003c/strong>\u003c/a>, by Ericka Cruz Guevarra, Rachael Myrow, and Alan Montecillo\n\u003cdiv>\n\u003cdiv class=\"routes-Site-routes-Post-components-Post-components-PostListen-___PostListen__articleListen\">\u003c/div>\n\u003c/div>\n\u003c/li>\n\u003c/ul>\n\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cspan style=\"font-weight: 400\">You’ve seen the news by now: tech companies are laying people off in droves. Nearly 60,000 people have been laid off from Bay Area-based tech companies since November 2022, according to the latest estimates from Layoffs.fyi, \u003c/span>\u003cspan style=\"font-weight: 400\">a website that has tracked tech layoffs since the start of the pandemic\u003c/span>\u003cspan style=\"font-weight: 400\">. \u003c/span>\u003c/p>\n\u003cp>\u003cspan style=\"font-weight: 400\">Companies cite everything from the need to cut costs, to over-hiring during the pandemic, to fears of a looming recession. \u003c/span>\u003cspan style=\"font-weight: 400\">But what’s really going on? And what does it mean for the tens of thousands of people who once worked in an industry that is famous for the perks, fancy offices, high pay, and stability?\u003c/span>\u003c/p>\n\u003cp>\u003cb>Guest:\u003c/b> \u003cspan style=\"font-weight: 400\">\u003ca href=\"https://twitter.com/KevinNguyen_89\">Kevin Vu Nguyen\u003c/a>, Bay Area journalist whose work has appeared in the SF Standard, the Sacramento Bee, and the Guardian\u003c/span>\u003c/p>\n\u003cp>\u003c!-- iframe plugin v.4.3 wordpress.org/plugins/iframe/ -->\u003cbr>\n\u003ciframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https://playlist.megaphone.fm/?e=KQINC6949236508\" width=\"100%\" class=\"iframe-class\">\u003c/iframe>\u003c/p>\n\u003cp>\u003ca href=\"http://bit.ly/3YfiFKk\" target=\"_blank\" rel=\"noopener\">\u003cem>Episode Transcript\u003c/em>\u003c/a>\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>Billionaire Elon Musk says he will step down as chief executive of Twitter as soon as he finds someone “foolish enough” to succeed him.\u003c/p>\n\u003cp>In a \u003ca href=\"https://twitter.com/elonmusk/status/1605372724800393216\">tweet\u003c/a> on Tuesday, Musk confirmed that he is searching for his replacement, but he gave no timeline for the process.\u003c/p>\n\u003cp>Musk’s tweet comes two days after he launched a poll on the social network. The majority of respondents voted for his ouster.\u003c/p>\n\u003cp>Even when Musk finds a new person to head Twitter, he will still be the owner and ultimate decision-maker at the company.\u003c/p>\n\u003cp>Musk indicated as much in his tweet, saying he would “just run the software & servers teams.” Last month, he \u003ca href=\"https://www.npr.org/2022/11/16/1137105935/twitter-elon-musk-ultimatum\">told Twitter employees\u003c/a> that Twitter would become “a software and servers company” under his ownership.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>After Musk \u003ca href=\"https://www.npr.org/2022/12/15/1143291081/twitter-suspends-journalists-elon-musk-jet\">received broad blowback\u003c/a> for suspending the Twitter accounts of several journalists, the billionaire took to his platform Sunday to pose a question: “Should I step down as head of Twitter? I will abide by the results of this poll.”\u003c/p>\n\u003cp>Some 17 million voted in the unscientific poll, and nearly 58% of participants supported Musk stepping down as CEO.\u003c/p>\n\u003cp>“As the saying goes, be careful what you wish, as you might get it,” Musk tweeted after launching the poll.\u003c/p>\n\u003cp>Musk has previously said it was never his intention to stay CEO of Twitter for the long term, but his tweet on Tuesday comes amid renewed scrutiny of his ability to lead the social media company.\u003c/p>\n\u003cp>[aside label=\"related coverage\" tag=\"twitter\"]Since Musk took over Twitter in late October, there has been a constant barrage of erratic decisions and turmoil at the company. From laying off more than half of the staff to reinstating the account of former President Trump, Musk has ruled Twitter based on what seem to be his ever-changing whims, with few checks on his decisions. Nearly all of Twitter’s top executives have either been fired or quit since Musk took the reins.\u003c/p>\n\u003cp>Amid the chaos, major advertisers have fled the platform, just as Musk has repeatedly suggested Twitter could be on the verge of bankruptcy. But longtime analysts of the site doubt that, and suggest Musk could be floating the idea of bankruptcy as cover for his cost-cutting measures.\u003c/p>\n\u003cp>The confusion and disarray at Twitter had some Tesla investors fretting that Musk was too distracted to lead both companies. The electric car company accounts for most of Musk’s wealth, but Twitter has been eating up Musk’s schedule. 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Venture capitalist Paul Graham wrote of the policy, “This is the last straw. I give up.”\u003c/p>\n\u003cp>That \u003ca href=\"https://twitter.com/paulg/status/1604556563338887168\">tweet\u003c/a>, also explaining how people could find Graham on rival social media site Mastodon, triggered a brief suspension of his Twitter account.\u003c/p>\n\u003cp>Musk offered a rare apology in response to the outcry.\u003c/p>\n\u003cp>“Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again,” Musk \u003ca href=\"https://twitter.com/elonmusk/status/1604616863673208832?ref_src=twsrc%5Etfw\">tweeted\u003c/a>.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Three minutes later, Musk launched the poll asking whether it was time for him to step down as head of Twitter, and promising to abide by the poll results.\u003c/p>\n\u003cdiv class=\"fullattribution\">\u003cem>Copyright 2022 NPR. 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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>After Musk \u003ca href=\"https://www.npr.org/2022/12/15/1143291081/twitter-suspends-journalists-elon-musk-jet\">received broad blowback\u003c/a> for suspending the Twitter accounts of several journalists, the billionaire took to his platform Sunday to pose a question: “Should I step down as head of Twitter? I will abide by the results of this poll.”\u003c/p>\n\u003cp>Some 17 million voted in the unscientific poll, and nearly 58% of participants supported Musk stepping down as CEO.\u003c/p>\n\u003cp>“As the saying goes, be careful what you wish, as you might get it,” Musk tweeted after launching the poll.\u003c/p>\n\u003cp>Musk has previously said it was never his intention to stay CEO of Twitter for the long term, but his tweet on Tuesday comes amid renewed scrutiny of his ability to lead the social media company.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>Since Musk took over Twitter in late October, there has been a constant barrage of erratic decisions and turmoil at the company. From laying off more than half of the staff to reinstating the account of former President Trump, Musk has ruled Twitter based on what seem to be his ever-changing whims, with few checks on his decisions. Nearly all of Twitter’s top executives have either been fired or quit since Musk took the reins.\u003c/p>\n\u003cp>Amid the chaos, major advertisers have fled the platform, just as Musk has repeatedly suggested Twitter could be on the verge of bankruptcy. But longtime analysts of the site doubt that, and suggest Musk could be floating the idea of bankruptcy as cover for his cost-cutting measures.\u003c/p>\n\u003cp>The confusion and disarray at Twitter had some Tesla investors fretting that Musk was too distracted to lead both companies. The electric car company accounts for most of Musk’s wealth, but Twitter has been eating up Musk’s schedule. Tesla shares have fallen 56% this year, with some investors suggesting Musk needed to stop trying to juggle leading both operations.\u003c/p>\n\u003cp>Last week, Tesla investor Ross Gerber \u003ca href=\"https://twitter.com/GerberKawasaki/status/1602685634044477442\">told\u003c/a> Tesla’s board of directors to “wake up.”\u003c/p>\n\u003cp>Gerber\u003ca href=\"https://twitter.com/GerberKawasaki/status/1602685634044477442\"> added\u003c/a> in the tweet: “Who is running tesla and when is Elon coming back?”\u003c/p>\n\u003cp>Gerber \u003ca href=\"https://www.npr.org/2022/11/21/1138064606/elon-musk-twitter-investors-fans\">told NPR\u003c/a> in November that he thought Musk had made a number of mistakes since buying Twitter, but that he continued to support him.\u003c/p>\n\u003cp>“I’m never betting against this guy,” Gerber said at the time.\u003c/p>\n\u003ch2>A brief policy shift leads to broad outcry\u003c/h2>\n\u003cp>Twitter announced a new policy on Sunday that took many users aback: It said tweets including links to other social media sites would no longer be allowed, calling such posts “free promotion.”\u003c/p>\n\u003cp>The policy was quickly reversed, but not before upsetting some of Musk’s most ardent supporters.\u003c/p>\n\u003cp>Twitter co-founder Jack Dorsey, who previously voiced support for Musk’s takeover of the platform, questioned the policy, \u003ca href=\"https://twitter.com/jack/status/1604554444544393216\">saying on Twitter\u003c/a> that it “doesn’t make sense.”\u003c/p>\n\u003cp>Others who had backed Musk’s bid for Twitter appeared frustrated at the decision. Venture capitalist Paul Graham wrote of the policy, “This is the last straw. I give up.”\u003c/p>\n\u003cp>That \u003ca href=\"https://twitter.com/paulg/status/1604556563338887168\">tweet\u003c/a>, also explaining how people could find Graham on rival social media site Mastodon, triggered a brief suspension of his Twitter account.\u003c/p>\n\u003cp>Musk offered a rare apology in response to the outcry.\u003c/p>\n\u003cp>“Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again,” Musk \u003ca href=\"https://twitter.com/elonmusk/status/1604616863673208832?ref_src=twsrc%5Etfw\">tweeted\u003c/a>.\u003c/p>\n\u003cp>\u003c/p>\n\u003cp>Three minutes later, Musk launched the poll asking whether it was time for him to step down as head of Twitter, and promising to abide by the poll results.\u003c/p>\n\u003cdiv class=\"fullattribution\">\u003cem>Copyright 2022 NPR. To see more, visit https://www.npr.org.\u003cimg decoding=\"async\" src=\"https://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Elon+Musk+says+he+will+resign+as+Twitter+CEO+once+he+finds+a+replacement&utme=8(APIKey)9(MDAxOTAwOTE4MDEyMTkxMDAzNjczZDljZA004)\">\u003c/em>\u003c/div>\n\n\u003c/div>\u003c/p>",
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"content": "\u003cp>The criticism was immediate, and has only intensified, since Elon Musk suspended several high-profile journalists from Twitter on Thursday, Dec. 15. The suspensions came a day after Twitter changed its policy on sharing live location information and banned an account known as ElonJet, which tracked the movement of Musk’s private jet using public flight data. Most of the banned journalists appear to have been reporting about these developments and to have written critically of Musk’s chaotic management of Twitter.[pullquote size=\"medium\" align=\"right\" citation=\"David Loy, legal director, First Amendment Coalition\"]‘Elon Musk has called himself a free speech advocate. But by banning journalists from Twitter and impairing their ability to report the news and gather the news, he is violating the very principles that he purports to uphold.’[/pullquote]\u003c/p>\n\u003cp>The suspensions caused an intense backlash and accusations of violating press freedom, \u003ca href=\"https://www.npr.org/2022/12/17/1143796992/twitter-lifts-suspensions-on-several-journalists-amid-rift-between-the-site-and-\">leading to Musk reinstating all but one of the suspended accounts \u003c/a>by Saturday, Dec. 17.\u003c/p>\n\u003cp>KQED’s Tara Siler spoke with one of the suspended journalists, Micah Lee, who is director of information security at The Intercept, and with David Loy, legal director of the First Amendment Coalition.\u003c/p>\n\u003cp>\u003cem>This interview has been edited for brevity and clarity.\u003c/em>\u003c/p>\n\u003cp>\u003cstrong>Tara Siler: Can you tell us what you’d been writing about before your account was suspended, and did you receive any explanation as to why it was suspended?\u003c/strong>[aside postID=\"news_11935737,news_11935529,news_11934602\" label=\"Related Posts\"]\u003cstrong>Micah Lee:\u003c/strong> Nope, no communication at all. My account was just suddenly banned and so I’m not even completely sure that this is the reason why. It just seems very likely because it was very shortly after I posted a tweet about ElonJet, and about\u003cb> \u003c/b>20 or 30 minutes later my account got permanently suspended. [But] I’ve spent the last month writing a bunch of articles that are pretty critical of Elon Musk and of the direction Twitter is going in. One of the stories that I reported on was how Elon Musk was basically directly asking right-wing extremists on Twitter who should get kicked off the site. And then in response to that, they kicked off a bunch of very high-profile left-wing accounts that have never broken any rules.\u003c/p>\n\u003cp>And it was directly at the request of specific right-wing influencers on Twitter. This includes some prominent anti-fascist accounts with hundreds of thousands of followers: CrimethInc., an anarchist collective that’s been publishing books since the ’90s, and just yesterday an anarchist news website called It’s Going Down. So that’s one of the stories that I did.\u003c/p>\n\u003cp>I’ve also reported about a Twitter ban of Distributed Denial of Secrets. This is a group that actually was banned in 2020 during the Black Lives Matter protests. And they publish “how can we” documents. And so they published some documents that showed a lot of police misconduct, including police spying on activists. And they’ve been banned ever since then. When Elon Musk took over Twitter, he started unbanning former President Donald Trump and Marjorie Taylor Greene and stuff, but he refuses to unban accounts that aren’t basically on the far right.\u003c/p>\n\u003cp>\u003cstrong>It would seem most of these journalists were reporting about the recent policy changes at Twitter in the suspension of this particular account known as ElonJet. Musk is claiming these reporters were doxxing him by endangering him and his family. I mean, how does that square with your understanding of doxxing?\u003c/strong>\u003c/p>\n\u003cp>\u003cstrong>David Loy:\u003c/strong> Reporting on publicly available data is not, in my view, a form of doxxing. Doxxing, as I understand it, is revealing that which is truly private — someone’s Social Security number, someone’s home address. Truly personal, private information. Flight data is publicly available from the FAA or otherwise. There’s any number of websites which track flight data in real time for both commercial and private jets. This is not in any way truly private information that, as I understand it, falls within the ordinary term or ordinary understanding of the term “doxxing.”\u003c/p>\n\u003cp>\u003cstrong>Musk has long touted himself as this so-called free speech absolutist. I’m wondering what you think that even means on today’s Twitter platform or in the context of social media in general.\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Lee: \u003c/b>Free-speech absolutism is an extreme position to take because it means that Nazi content and child pornography are just fair game. Typically, being a free-speech absolutist means that you think there shouldn’t be any content moderation. And that’s clearly not what he believes.\u003c/p>\n\u003cp>He believes in a lot of content moderation. I think what he means by free-speech absolutism is free speech for the far right, a lot of whom were getting suspended and suppressed in various ways in the old days of Twitter. So he’s undoing that. But I think it also means censorship of the left. I think that’s his version of free-speech absolutism. He is in charge, so he gets to make the rules according to his whims now.\u003c/p>\n\u003cp>\u003cstrong>Twitter is a private company, so I’m just wondering if you can tell us, is there anything illegal about these suspensions?\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Loy: \u003c/b>It does not violate the First Amendment for a private company to decide who it will or will not host on its platform. So this may not be illegal in that sense, but that doesn’t make it a good thing, right? Whether or not Twitter is allowed to ban journalists at will or at whim, I do not believe it should do so. Banning journalists is antithetical to freedom of speech. Elon Musk has called himself a free speech advocate. But by banning journalists from Twitter and impairing their ability to report the news and gather the news, he is violating the very principles that he purports to uphold.\u003c/p>\n\u003cp>Twitter’s a vital news-gathering tool that many journalists rely upon to do their jobs, and the public — now more than ever — depends on journalists to gather, produce, provide and distribute information and facts to promote transparency and accountability and fight disinformation. When Twitter or Facebook or any other platform holds itself out as a common space or a town square, if you will, and engages and invites the public and journalists in particular to participate, then I think it has held itself to a higher obligation than the mere minimum of what the First Amendment requires or allows and should be devoted to freedom of speech, press freedom, and reporting and critiquing the actions of the powerful and the wealthy, and to hold them accountable to the principles that they hold.\u003c/p>\n\u003cp>\u003cstrong>I know some members of Congress are criticizing these suspensions, and I’m just wondering what, if anything, lawmakers can do, given that, again, this is a private company.\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Loy: \u003c/b>Certainly it would be beyond the pale for the government to tell Twitter or any other platform who it must host or not, who it must platform or not — just like the government cannot tell a newspaper what content to print or whose articles to print, or whose editorials or letters to print, or whose op-ed to print or not.\u003c/p>\n\u003cp>The First Amendment does guarantee editorial discretion to owners of platforms and publishers. [But] it is certainly within the authority of lawmakers or anyone else to discuss the issue, to express critiques of the particular decision, to say, “Well, Mr. Musk, you have held yourself out as a free speech advocate, and yet you are acting in ways that seem to violate your own principles.” And that’s certainly a fair topic for debate and discussion. But certainly the government should not be in the business of telling or commanding publishers or platforms what they must publish or who they must publish.\u003c/p>\n\u003cp>\u003cstrong>Looking forward, should journalists be looking for ways to reduce our dependance on social media platforms like Twitter or Facebook? Is that even possible today?\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Lee: \u003c/b>Absolutely journalists should be reducing their dependance on any single social media platform. I think that’s a real problem that a lot of journalists have right now, [because they’re] so addicted to Twitter specifically. Like me. I have this big following on Twitter and I don’t really have a big following on all of these other platforms.\u003c/p>\n\u003cp>And this means that Elon Musk can just, at his whim, kick off journalists, kick off whole newsrooms, and then they lose their whole audience. So I think that it will be very wise for journalists to start expanding beyond Twitter and also beyond Facebook and just use multiple platforms, try and build an audience in multiple places so that there’s not a single point of failure.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The suspensions caused an intense backlash and accusations of violating press freedom, \u003ca href=\"https://www.npr.org/2022/12/17/1143796992/twitter-lifts-suspensions-on-several-journalists-amid-rift-between-the-site-and-\">leading to Musk reinstating all but one of the suspended accounts \u003c/a>by Saturday, Dec. 17.\u003c/p>\n\u003cp>KQED’s Tara Siler spoke with one of the suspended journalists, Micah Lee, who is director of information security at The Intercept, and with David Loy, legal director of the First Amendment Coalition.\u003c/p>\n\u003cp>\u003cem>This interview has been edited for brevity and clarity.\u003c/em>\u003c/p>\n\u003cp>\u003cstrong>Tara Siler: Can you tell us what you’d been writing about before your account was suspended, and did you receive any explanation as to why it was suspended?\u003c/strong>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cstrong>Micah Lee:\u003c/strong> Nope, no communication at all. My account was just suddenly banned and so I’m not even completely sure that this is the reason why. It just seems very likely because it was very shortly after I posted a tweet about ElonJet, and about\u003cb> \u003c/b>20 or 30 minutes later my account got permanently suspended. [But] I’ve spent the last month writing a bunch of articles that are pretty critical of Elon Musk and of the direction Twitter is going in. One of the stories that I reported on was how Elon Musk was basically directly asking right-wing extremists on Twitter who should get kicked off the site. And then in response to that, they kicked off a bunch of very high-profile left-wing accounts that have never broken any rules.\u003c/p>\n\u003cp>And it was directly at the request of specific right-wing influencers on Twitter. This includes some prominent anti-fascist accounts with hundreds of thousands of followers: CrimethInc., an anarchist collective that’s been publishing books since the ’90s, and just yesterday an anarchist news website called It’s Going Down. So that’s one of the stories that I did.\u003c/p>\n\u003cp>I’ve also reported about a Twitter ban of Distributed Denial of Secrets. This is a group that actually was banned in 2020 during the Black Lives Matter protests. And they publish “how can we” documents. And so they published some documents that showed a lot of police misconduct, including police spying on activists. And they’ve been banned ever since then. When Elon Musk took over Twitter, he started unbanning former President Donald Trump and Marjorie Taylor Greene and stuff, but he refuses to unban accounts that aren’t basically on the far right.\u003c/p>\n\u003cp>\u003cstrong>It would seem most of these journalists were reporting about the recent policy changes at Twitter in the suspension of this particular account known as ElonJet. Musk is claiming these reporters were doxxing him by endangering him and his family. I mean, how does that square with your understanding of doxxing?\u003c/strong>\u003c/p>\n\u003cp>\u003cstrong>David Loy:\u003c/strong> Reporting on publicly available data is not, in my view, a form of doxxing. Doxxing, as I understand it, is revealing that which is truly private — someone’s Social Security number, someone’s home address. Truly personal, private information. Flight data is publicly available from the FAA or otherwise. There’s any number of websites which track flight data in real time for both commercial and private jets. This is not in any way truly private information that, as I understand it, falls within the ordinary term or ordinary understanding of the term “doxxing.”\u003c/p>\n\u003cp>\u003cstrong>Musk has long touted himself as this so-called free speech absolutist. I’m wondering what you think that even means on today’s Twitter platform or in the context of social media in general.\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Lee: \u003c/b>Free-speech absolutism is an extreme position to take because it means that Nazi content and child pornography are just fair game. Typically, being a free-speech absolutist means that you think there shouldn’t be any content moderation. And that’s clearly not what he believes.\u003c/p>\n\u003cp>He believes in a lot of content moderation. I think what he means by free-speech absolutism is free speech for the far right, a lot of whom were getting suspended and suppressed in various ways in the old days of Twitter. So he’s undoing that. But I think it also means censorship of the left. I think that’s his version of free-speech absolutism. He is in charge, so he gets to make the rules according to his whims now.\u003c/p>\n\u003cp>\u003cstrong>Twitter is a private company, so I’m just wondering if you can tell us, is there anything illegal about these suspensions?\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Loy: \u003c/b>It does not violate the First Amendment for a private company to decide who it will or will not host on its platform. So this may not be illegal in that sense, but that doesn’t make it a good thing, right? Whether or not Twitter is allowed to ban journalists at will or at whim, I do not believe it should do so. Banning journalists is antithetical to freedom of speech. Elon Musk has called himself a free speech advocate. But by banning journalists from Twitter and impairing their ability to report the news and gather the news, he is violating the very principles that he purports to uphold.\u003c/p>\n\u003cp>Twitter’s a vital news-gathering tool that many journalists rely upon to do their jobs, and the public — now more than ever — depends on journalists to gather, produce, provide and distribute information and facts to promote transparency and accountability and fight disinformation. When Twitter or Facebook or any other platform holds itself out as a common space or a town square, if you will, and engages and invites the public and journalists in particular to participate, then I think it has held itself to a higher obligation than the mere minimum of what the First Amendment requires or allows and should be devoted to freedom of speech, press freedom, and reporting and critiquing the actions of the powerful and the wealthy, and to hold them accountable to the principles that they hold.\u003c/p>\n\u003cp>\u003cstrong>I know some members of Congress are criticizing these suspensions, and I’m just wondering what, if anything, lawmakers can do, given that, again, this is a private company.\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Loy: \u003c/b>Certainly it would be beyond the pale for the government to tell Twitter or any other platform who it must host or not, who it must platform or not — just like the government cannot tell a newspaper what content to print or whose articles to print, or whose editorials or letters to print, or whose op-ed to print or not.\u003c/p>\n\u003cp>The First Amendment does guarantee editorial discretion to owners of platforms and publishers. [But] it is certainly within the authority of lawmakers or anyone else to discuss the issue, to express critiques of the particular decision, to say, “Well, Mr. Musk, you have held yourself out as a free speech advocate, and yet you are acting in ways that seem to violate your own principles.” And that’s certainly a fair topic for debate and discussion. But certainly the government should not be in the business of telling or commanding publishers or platforms what they must publish or who they must publish.\u003c/p>\n\u003cp>\u003cstrong>Looking forward, should journalists be looking for ways to reduce our dependance on social media platforms like Twitter or Facebook? Is that even possible today?\u003c/strong>\u003c/p>\n\u003cp>\u003cb>Lee: \u003c/b>Absolutely journalists should be reducing their dependance on any single social media platform. I think that’s a real problem that a lot of journalists have right now, [because they’re] so addicted to Twitter specifically. Like me. I have this big following on Twitter and I don’t really have a big following on all of these other platforms.\u003c/p>\n\u003cp>And this means that Elon Musk can just, at his whim, kick off journalists, kick off whole newsrooms, and then they lose their whole audience. So I think that it will be very wise for journalists to start expanding beyond Twitter and also beyond Facebook and just use multiple platforms, try and build an audience in multiple places so that there’s not a single point of failure.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cp>Amid intense backlash and accusations of violating press freedom, Twitter has reinstated the accounts of \u003ca href=\"https://www.npr.org/2022/12/15/1143291081/twitter-suspends-journalists-elon-musk-jet\">several journalists who were suspended\u003c/a> earlier this week, though at least one remains suspended.\u003c/p>\n\u003cp>On Thursday night, the social media platform suspended several reporters who had tweeted or written about Elon Musk’s ownership of the company.\u003c/p>\n\u003cp>The accounts that went dark included Donie O’Sullivan of CNN; Ryan Mac of \u003cem>The New York Times\u003c/em>; Drew Harwell of \u003cem>The Washington Post\u003c/em>; Micah Lee of The Intercept; and journalist Aaron Rupar.\u003c/p>\n\u003cp>On Friday evening, Musk put the decision of whether to reinstate suspended accounts up for a public vote. He \u003ca href=\"https://twitter.com/elonmusk/status/1603600001057185792\">tweeted\u003c/a> an informal poll which asked Twitter users to choose when to “unsuspend accounts who doxxed my exact location in real-time.”[pullquote align=\"right\" size=\"medium\" citation=\"Linette Lopez, reporter, Business Insider\"]‘It’s funny that Elon suddenly has a problem with doxxing and harassing people because he has a history of doing that before people were paying such close attention to him.’[/pullquote]According to the poll, 58.7% of voters favored lifting the suspensions immediately over 41.3% of respondents who said Musk should wait seven more days.\u003c/p>\n\u003cp>Rupar, whose account was reinstated on Friday, said the suspensions signaled Twitter’s instability.\u003c/p>\n\u003cp>“It’s a clear illustration that it is no longer a rules-based company,” Rupar told NPR. “It’s basically a company based on Elon Musk’s whims and the terms of service depend on his mood each day.”\u003c/p>\n\u003cp>Joan Donovan, the research director at Harvard’s Shorenstein Center on Media, Politics and Public Policy, thinks this week’s spree of suspensions is only the beginning.\u003c/p>\n\u003cp>“The way Musk is targeting particular mainstream journalists, I think we’re going to see more of these shenanigans, and not less, over the next couple of months,” she told NPR’s Michel Martin on \u003cem>All Things Considered.\u003c/em>\u003c/p>\n\u003cp>Linette Lopez, a Business Insider reporter who previously covered Musk, said her account was suspended on Friday after she tweeted court documents that revealed Musk had hacked and doxxed people in the past.\u003c/p>\n\u003cp>“It’s funny that Elon suddenly has a problem with doxxing and harassing people because he has a history of doing that before people were paying such close attention to him,” she told NPR.\u003c/p>\n\u003cp>Lopez’s account remains suspended. As of Saturday afternoon, Lopez said she still has not heard from Twitter as to why.\u003c/p>\n\u003cp>NPR has reached out to Twitter and Musk but has not gotten a response.\u003c/p>\n\u003ch2 class=\"edTag\">It all started with a jet-tracking Twitter account\u003c/h2>\n\u003cp>Prior to suspending the accounts of the journalists, Musk took issue with several accounts that tracked the movement of private planes used by billionaires, government officials and others.\u003c/p>\n\u003cp>Musk was particularly concerned with the jet-tracking account, @ElonJet, run by a 20-year-old University of Central Florida student, which Musk alleges was used by a “\u003ca href=\"https://twitter.com/elonmusk/status/1603190155107794944\">crazy stalker\u003c/a>” in Los Angeles to follow one of Musk’s children.\u003c/p>\n\u003cp>Journalists who tweeted or wrote about Musk’s rift with the account found themselves later suspended.\u003c/p>\n\u003cp>Musk, a self-professed “free speech absolutist,” has denied accusations that the suspensions were in retaliation for critical coverage. Instead, he argued that the accounts are a “physical safety violation” and can lead to “doxxing,” or sharing of personal information to encourage harassers.\u003c/p>\n\u003cp>“Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not,” Musk \u003ca href=\"https://twitter.com/elonmusk/status/1603575877538680832\">tweeted\u003c/a> Thursday night.\u003c/p>\n\u003ch2 class=\"edTag\">Musk’s crackdown was condemned by the UN and EU\u003c/h2>\n\u003cp>A number of organizations around the globe have criticized Musk’s apparent silencing of high-profile journalists on Twitter.\u003c/p>\n\u003cp>Melissa Fleming, the United Nations undersecretary-general for global communications, said she was “deeply disturbed” by the suspensions.\u003c/p>\n\u003cp>“Media freedom is not a toy. A free press is the cornerstone of democratic societies and a key tool in the fight against harmful disinformation,” Fleming \u003ca href=\"https://twitter.com/MelissaFleming/status/1603763517642907655\">tweeted\u003c/a> on Friday.[aside postID=news_11935529 hero='https://ww2.kqed.org/app/uploads/sites/10/2022/12/GettyImages-1240652428-1020x763.jpg']Věra Jourová, the European Commission vice president, warned Twitter of potentially violating the European Union’s Digital Services Act and Media Freedom Act.\u003c/p>\n\u003cp>“There are red lines. And sanctions, soon,” Jourová \u003ca href=\"https://twitter.com/VeraJourova/status/1603689440710369281?s=20&t=dUR9L5132TApMsXHmrkMQQ\">tweeted\u003c/a> Friday.\u003c/p>\n\u003cp>The suspensions have also drawn outrage from several news organizations that are demanding explanations for why their reporters were temporarily banned.\u003c/p>\n\u003cp>“Twitter’s increasing instability and volatility should be of incredible concern for everyone who uses the platform,” CNN said in a \u003ca href=\"https://twitter.com/CNNPR/status/1603579612612665344\">statement \u003c/a>on Thursday. “We will reevaluate our relationship based on that response.”\u003c/p>\n\u003cp>For Rupar, though he was initially worried about how the Twitter ban would negatively impact his career, the opposite turned out to be true.\u003c/p>\n\u003cp>“The consequences for me were pretty positive overall,” he said.\u003c/p>\n\u003cp>In the hours following his suspension, Rupar said he received an onslaught of support and a mass of followers on his newly created \u003ca href=\"https://www.npr.org/2022/11/10/1135243276/mastodon-twitter-elon-musk\">Mastodon\u003c/a> account — which he plans to use more frequently.\u003c/p>\n\u003cp>“Even though I’m back on Twitter, in light of this experience, it seems like a good time to spend more energy developing a following elsewhere,” Rupar said.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>Amid intense backlash and accusations of violating press freedom, Twitter has reinstated the accounts of \u003ca href=\"https://www.npr.org/2022/12/15/1143291081/twitter-suspends-journalists-elon-musk-jet\">several journalists who were suspended\u003c/a> earlier this week, though at least one remains suspended.\u003c/p>\n\u003cp>On Thursday night, the social media platform suspended several reporters who had tweeted or written about Elon Musk’s ownership of the company.\u003c/p>\n\u003cp>The accounts that went dark included Donie O’Sullivan of CNN; Ryan Mac of \u003cem>The New York Times\u003c/em>; Drew Harwell of \u003cem>The Washington Post\u003c/em>; Micah Lee of The Intercept; and journalist Aaron Rupar.\u003c/p>\n\u003cp>On Friday evening, Musk put the decision of whether to reinstate suspended accounts up for a public vote. He \u003ca href=\"https://twitter.com/elonmusk/status/1603600001057185792\">tweeted\u003c/a> an informal poll which asked Twitter users to choose when to “unsuspend accounts who doxxed my exact location in real-time.”\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>According to the poll, 58.7% of voters favored lifting the suspensions immediately over 41.3% of respondents who said Musk should wait seven more days.\u003c/p>\n\u003cp>Rupar, whose account was reinstated on Friday, said the suspensions signaled Twitter’s instability.\u003c/p>\n\u003cp>“It’s a clear illustration that it is no longer a rules-based company,” Rupar told NPR. “It’s basically a company based on Elon Musk’s whims and the terms of service depend on his mood each day.”\u003c/p>\n\u003cp>Joan Donovan, the research director at Harvard’s Shorenstein Center on Media, Politics and Public Policy, thinks this week’s spree of suspensions is only the beginning.\u003c/p>\n\u003cp>“The way Musk is targeting particular mainstream journalists, I think we’re going to see more of these shenanigans, and not less, over the next couple of months,” she told NPR’s Michel Martin on \u003cem>All Things Considered.\u003c/em>\u003c/p>\n\u003cp>Linette Lopez, a Business Insider reporter who previously covered Musk, said her account was suspended on Friday after she tweeted court documents that revealed Musk had hacked and doxxed people in the past.\u003c/p>\n\u003cp>“It’s funny that Elon suddenly has a problem with doxxing and harassing people because he has a history of doing that before people were paying such close attention to him,” she told NPR.\u003c/p>\n\u003cp>Lopez’s account remains suspended. As of Saturday afternoon, Lopez said she still has not heard from Twitter as to why.\u003c/p>\n\u003cp>NPR has reached out to Twitter and Musk but has not gotten a response.\u003c/p>\n\u003ch2 class=\"edTag\">It all started with a jet-tracking Twitter account\u003c/h2>\n\u003cp>Prior to suspending the accounts of the journalists, Musk took issue with several accounts that tracked the movement of private planes used by billionaires, government officials and others.\u003c/p>\n\u003cp>Musk was particularly concerned with the jet-tracking account, @ElonJet, run by a 20-year-old University of Central Florida student, which Musk alleges was used by a “\u003ca href=\"https://twitter.com/elonmusk/status/1603190155107794944\">crazy stalker\u003c/a>” in Los Angeles to follow one of Musk’s children.\u003c/p>\n\u003cp>Journalists who tweeted or wrote about Musk’s rift with the account found themselves later suspended.\u003c/p>\n\u003cp>Musk, a self-professed “free speech absolutist,” has denied accusations that the suspensions were in retaliation for critical coverage. Instead, he argued that the accounts are a “physical safety violation” and can lead to “doxxing,” or sharing of personal information to encourage harassers.\u003c/p>\n\u003cp>“Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not,” Musk \u003ca href=\"https://twitter.com/elonmusk/status/1603575877538680832\">tweeted\u003c/a> Thursday night.\u003c/p>\n\u003ch2 class=\"edTag\">Musk’s crackdown was condemned by the UN and EU\u003c/h2>\n\u003cp>A number of organizations around the globe have criticized Musk’s apparent silencing of high-profile journalists on Twitter.\u003c/p>\n\u003cp>Melissa Fleming, the United Nations undersecretary-general for global communications, said she was “deeply disturbed” by the suspensions.\u003c/p>\n\u003cp>“Media freedom is not a toy. A free press is the cornerstone of democratic societies and a key tool in the fight against harmful disinformation,” Fleming \u003ca href=\"https://twitter.com/MelissaFleming/status/1603763517642907655\">tweeted\u003c/a> on Friday.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>Věra Jourová, the European Commission vice president, warned Twitter of potentially violating the European Union’s Digital Services Act and Media Freedom Act.\u003c/p>\n\u003cp>“There are red lines. And sanctions, soon,” Jourová \u003ca href=\"https://twitter.com/VeraJourova/status/1603689440710369281?s=20&t=dUR9L5132TApMsXHmrkMQQ\">tweeted\u003c/a> Friday.\u003c/p>\n\u003cp>The suspensions have also drawn outrage from several news organizations that are demanding explanations for why their reporters were temporarily banned.\u003c/p>\n\u003cp>“Twitter’s increasing instability and volatility should be of incredible concern for everyone who uses the platform,” CNN said in a \u003ca href=\"https://twitter.com/CNNPR/status/1603579612612665344\">statement \u003c/a>on Thursday. “We will reevaluate our relationship based on that response.”\u003c/p>\n\u003cp>For Rupar, though he was initially worried about how the Twitter ban would negatively impact his career, the opposite turned out to be true.\u003c/p>\n\u003cp>“The consequences for me were pretty positive overall,” he said.\u003c/p>\n\u003cp>In the hours following his suspension, Rupar said he received an onslaught of support and a mass of followers on his newly created \u003ca href=\"https://www.npr.org/2022/11/10/1135243276/mastodon-twitter-elon-musk\">Mastodon\u003c/a> account — which he plans to use more frequently.\u003c/p>\n\u003cp>“Even though I’m back on Twitter, in light of this experience, it seems like a good time to spend more energy developing a following elsewhere,” Rupar said.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"slug": "a-dangerous-precedent-media-ngos-slam-twitters-suspension-of-journalists-who-cover-elon-musk",
"title": "'A Dangerous Precedent': Media, UN Slam Twitter's Suspension of Journalists Who Cover Elon Musk",
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"content": "\u003cp>News organizations were left scrambling and journalists were reacting with alarm this week following Elon Musk’s abrupt suspension of several reporters who cover Twitter, the latest sign of a growing rift between the social media site and media organizations that have used the platform to build audiences.\u003c/p>\n\u003cp>Accounts of reporters with The New York Times, The Washington Post, CNN, Voice of America and other publications went dark Thursday. The suspension of journalists continued Friday with the account of a Business Insider columnist who published a series of articles between 2018 and 2021 highlighting what she called dangerous Tesla manufacturing shortcomings.\u003c/p>\n\u003cp>There was an exodus of advertisers shortly after the billionaire’s $44 billion acquisition of Twitter in October over content moderation and Musk now risks a rupture with media organizations, among the most active on the platform.[aside label=\"Related Stories\" postID=\"news_11935113,forum_2010101891137,news_11934602\"]\u003c/p>\n\u003cp>The company hasn’t explained to the journalists why it took down the accounts and made their profiles and past tweets disappear. But Musk took to Twitter on Thursday night to accuse journalists of sharing private information about his whereabouts that he described as “basically assassination coordinates.” He provided no evidence for that claim.\u003c/p>\n\u003cp>Business Insider’s Linette Lopez told The Associated Press that she was given no explanation for the suspension. Shortly before being suspended, she said, she had posted court-related documents to Twitter that included a 2018 Musk email address. That address is not current, said Lopez, because “he changes his email every few weeks. If he wants to call that doxxing, fine.”\u003c/p>\n\u003cp>On Tuesday, she posted a 2019 story about Tesla troubles, commenting, “Now, just like then, most of @elonmusk’s wounds are self inflicted.” The same day, she called reports of Musk reneging on severance for laid-off Twitter employees, threatening workers who talk to the press and refusing rent payments “classic Elon-going-for-broke behavior.”\u003c/p>\n\u003cp>Alarm over the suspensions extended beyond media circles, however.\u003c/p>\n\u003cp>“From our standpoint, the move sets a dangerous precedent at a time when journalists all over the world are facing censorship, physical threats and even worse, and we are remaining in touch with officials,” said U.N. spokesperson Stéphane Dujarric.\u003c/p>\n\u003cp>The sudden suspension of news reporters followed Musk’s decision Wednesday to permanently ban \u003ca href=\"https://apnews.com/article/elon-musk-technology-business-social-media-13119e8cc9bbc15a886369263b29087a\">an account that automatically tracked the flights of his private jet\u003c/a> using publicly available data. That also led Twitter to change its rules for all users to prohibit the sharing of another person’s current location without their consent.\u003c/p>\n\u003cp>Several of the reporters suspended Thursday night had been writing about the new policy and Musk’s rationale for imposing it, which involved his allegations about a stalking incident he said affected his family on Tuesday night in Los Angeles.\u003c/p>\n\u003cp>[pullquote align=\"right\" size=\"medium\" citation=\"Statement from the Committee to Protect Journalists\"]‘If confirmed as retaliation for their work, this would be a serious violation of journalists’ right to report the news without fear of reprisal.’[/pullquote]The official account for Mastodon, a decentralized social network billed as an alternative to Twitter, was also banned. The reason was unclear, though it had tweeted about the jet-tracking account.\u003c/p>\n\u003cp>“Same doxxing rules apply to ‘journalists’ as to everyone else,” Musk tweeted Thursday. He later added: “Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not.”\u003c/p>\n\u003cp>“Doxxing” refers to disclosing online someone’s identity, address or other personal details.\u003c/p>\n\u003cp>The Washington Post’s executive editor, Sally Buzbee, called for technology reporter Drew Harwell’s Twitter account to be reinstated immediately. The suspension “directly undermines Elon Musk’s claim that he intends to run Twitter as a platform dedicated to free speech,” Buzbee wrote. “Harwell was banished without warning, process or explanation, following the publication of his accurate reporting about Musk.”\u003c/p>\n\u003cp>CNN said in a statement that “the impulsive and unjustified suspension of a number of reporters, including CNN’s Donie O’Sullivan, is concerning but not surprising.”\u003c/p>\n\u003cp>“Twitter’s increasing instability and volatility should be of incredible concern for everyone who uses Twitter,” CNN’s statement added. “We have asked Twitter for an explanation, and we will reevaluate our relationship based on that response.”\u003c/p>\n\u003cp>The U.N. is also reconsidering its involvement with Twitter, according to Dujarric.\u003c/p>\n\u003cp>Another suspended journalist, Matt Binder of the technology news outlet Mashable, said he was banned Thursday night immediately after sharing a screenshot that O’Sullivan had posted before his own suspension.\u003c/p>\n\u003cp>The screenshot showed a statement from the Los Angeles Police Department sent earlier Thursday to multiple media outlets, including The Associated Press, about how it was in touch with Musk’s representatives about the alleged stalking incident.\u003c/p>\n\u003cp>“I did not share any location data, as per Twitter’s new terms. Nor did I share any links to ElonJet or other location tracking accounts,” Binder said in an email. “I have been highly critical of Musk but never broke any of Twitter’s listed policies.”\u003c/p>\n\u003cfigure id=\"attachment_11931830\" class=\"wp-caption aligncenter\" style=\"max-width: 800px\">\u003ca href=\"https://ww2.kqed.org/app/uploads/sites/10/2022/11/005_KQED_Twitter_11072022.jpg\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"wp-image-11931830 size-medium\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-800x533.jpg\" alt=\"A partial view from below of a seemingly limestone-brick building, with four floors of windows visible, and a white, vertical, two-story sign, with @twitter in gray, capped by the blue bird Twitter symbol. The photo is framed by shadowy, blurred leaves on the left, and perhaps a roof, a dark, triangle, in the bottom right.\" width=\"800\" height=\"533\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-800x533.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-1020x680.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-1536x1024.jpg 1536w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022.jpg 1920w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter building in San Francisco. \u003ccite>(Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>Late Thursday, Musk briefly joined a Twitter Spaces chat hosted by journalist Katie Notopoulos of BuzzFeed. Musk stood by the suspensions, saying, “You dox, you get suspended, end of story.”\u003c/p>\n\u003cp>He abruptly left the conversation, and, a short time later, all of Twitter Spaces went offline.\u003c/p>\n\u003cp>Some of the journalists who had been suspended, and the creator of the ElonJet Twitter account, were on the Spaces chat with Musk despite the suspension of their Twitter accounts due to what appears to be a technical quirk.\u003c/p>\n\u003cp>Musk later tweeted, “We’re fixing a Legacy Bug,” and said that the service should be up and running again Friday. It remained dormant Friday afternoon.\u003c/p>\n\u003cp>The suspensions come as Musk makes major changes to content moderation on Twitter. He has tried, through the release of selected company documents dubbed “The Twitter Files,” to claim that the platform suppressed right-wing voices under its previous leaders.\u003c/p>\n\u003cp>He has promised to let free speech reign and has reinstated high-profile accounts that previously broke Twitter’s rules against hateful conduct or harmful misinformation, but also has said he would suppress negativity and hate by depriving some accounts of “freedom of reach.”\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>The nonprofit Committee to Protect Journalists, which defends journalists around the world, voiced concern.\u003c/p>\n\u003cp>“If confirmed as retaliation for their work, this would be a serious violation of journalists’ right to report the news without fear of reprisal,” the group said.\u003c/p>\n\u003cp>If suspensions lead to the exodus of media organizations that are highly active on Twitter, the platform would be changed at the fundamental level, said Lou Paskalis, longtime marketing and media executive and former Bank of America head of global media.\u003c/p>\n\u003cp>CBS briefly shut down its activity on Twitter in November due to “uncertainty” about new management, but media organizations have largely remained on the platform.\u003c/p>\n\u003cp>“We all know news breaks on Twitter — it has been stock and trade since I’ve been using Twitter — and to now go after journalists really saws at the main foundational tentpole of Twitter,” Paskalis said. “Driving journalists off Twitter is the biggest self-inflicted wound I can think of.”\u003c/p>\n\u003cp>The suspensions may be the biggest red flag yet for advertisers, Paskalis said, some of which had already cut their spending on Twitter over uncertainty about the direction Musk is taking the platform.\u003c/p>\n\u003cp>“It is an overt demonstration of what advertisers fear the most,” Paskalis said. “Retribution for an action that Elon doesn’t agree with. That would be the No. 1 reason to pause advertising on Twitter if I haven’t done so already.”\u003c/p>\n\u003cp>Advertisers are also monitoring the potential loss of Twitter users. Twitter is projected to lose 32 million of its users over the next two years, according to a forecast by Insider Intelligence.\u003c/p>\n\u003cp>They’re projecting a nearly 4% drop in 2023 and another 5% drop in 2024, as technical issues and the return of accounts banned for offensive posts return under new Twitter rules.\u003c/p>\n\u003cp>\u003cem>Associated Press writers Kelvin Chan in London, Frank Jordans in Berlin, Frank Bajak in Boston and Hillel Italie and Edith Lederer in New York, contributed to this report.\u003c/em>\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n",
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"excerpt": "Twitter suspended the accounts of several journalists who cover the social media platform in the latest battle over what can and cannot be said on the site since billionaire Elon Musk took control of it.",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>News organizations were left scrambling and journalists were reacting with alarm this week following Elon Musk’s abrupt suspension of several reporters who cover Twitter, the latest sign of a growing rift between the social media site and media organizations that have used the platform to build audiences.\u003c/p>\n\u003cp>Accounts of reporters with The New York Times, The Washington Post, CNN, Voice of America and other publications went dark Thursday. The suspension of journalists continued Friday with the account of a Business Insider columnist who published a series of articles between 2018 and 2021 highlighting what she called dangerous Tesla manufacturing shortcomings.\u003c/p>\n\u003cp>There was an exodus of advertisers shortly after the billionaire’s $44 billion acquisition of Twitter in October over content moderation and Musk now risks a rupture with media organizations, among the most active on the platform.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The company hasn’t explained to the journalists why it took down the accounts and made their profiles and past tweets disappear. But Musk took to Twitter on Thursday night to accuse journalists of sharing private information about his whereabouts that he described as “basically assassination coordinates.” He provided no evidence for that claim.\u003c/p>\n\u003cp>Business Insider’s Linette Lopez told The Associated Press that she was given no explanation for the suspension. Shortly before being suspended, she said, she had posted court-related documents to Twitter that included a 2018 Musk email address. That address is not current, said Lopez, because “he changes his email every few weeks. If he wants to call that doxxing, fine.”\u003c/p>\n\u003cp>On Tuesday, she posted a 2019 story about Tesla troubles, commenting, “Now, just like then, most of @elonmusk’s wounds are self inflicted.” The same day, she called reports of Musk reneging on severance for laid-off Twitter employees, threatening workers who talk to the press and refusing rent payments “classic Elon-going-for-broke behavior.”\u003c/p>\n\u003cp>Alarm over the suspensions extended beyond media circles, however.\u003c/p>\n\u003cp>“From our standpoint, the move sets a dangerous precedent at a time when journalists all over the world are facing censorship, physical threats and even worse, and we are remaining in touch with officials,” said U.N. spokesperson Stéphane Dujarric.\u003c/p>\n\u003cp>The sudden suspension of news reporters followed Musk’s decision Wednesday to permanently ban \u003ca href=\"https://apnews.com/article/elon-musk-technology-business-social-media-13119e8cc9bbc15a886369263b29087a\">an account that automatically tracked the flights of his private jet\u003c/a> using publicly available data. That also led Twitter to change its rules for all users to prohibit the sharing of another person’s current location without their consent.\u003c/p>\n\u003cp>Several of the reporters suspended Thursday night had been writing about the new policy and Musk’s rationale for imposing it, which involved his allegations about a stalking incident he said affected his family on Tuesday night in Los Angeles.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>The official account for Mastodon, a decentralized social network billed as an alternative to Twitter, was also banned. The reason was unclear, though it had tweeted about the jet-tracking account.\u003c/p>\n\u003cp>“Same doxxing rules apply to ‘journalists’ as to everyone else,” Musk tweeted Thursday. He later added: “Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not.”\u003c/p>\n\u003cp>“Doxxing” refers to disclosing online someone’s identity, address or other personal details.\u003c/p>\n\u003cp>The Washington Post’s executive editor, Sally Buzbee, called for technology reporter Drew Harwell’s Twitter account to be reinstated immediately. The suspension “directly undermines Elon Musk’s claim that he intends to run Twitter as a platform dedicated to free speech,” Buzbee wrote. “Harwell was banished without warning, process or explanation, following the publication of his accurate reporting about Musk.”\u003c/p>\n\u003cp>CNN said in a statement that “the impulsive and unjustified suspension of a number of reporters, including CNN’s Donie O’Sullivan, is concerning but not surprising.”\u003c/p>\n\u003cp>“Twitter’s increasing instability and volatility should be of incredible concern for everyone who uses Twitter,” CNN’s statement added. “We have asked Twitter for an explanation, and we will reevaluate our relationship based on that response.”\u003c/p>\n\u003cp>The U.N. is also reconsidering its involvement with Twitter, according to Dujarric.\u003c/p>\n\u003cp>Another suspended journalist, Matt Binder of the technology news outlet Mashable, said he was banned Thursday night immediately after sharing a screenshot that O’Sullivan had posted before his own suspension.\u003c/p>\n\u003cp>The screenshot showed a statement from the Los Angeles Police Department sent earlier Thursday to multiple media outlets, including The Associated Press, about how it was in touch with Musk’s representatives about the alleged stalking incident.\u003c/p>\n\u003cp>“I did not share any location data, as per Twitter’s new terms. Nor did I share any links to ElonJet or other location tracking accounts,” Binder said in an email. “I have been highly critical of Musk but never broke any of Twitter’s listed policies.”\u003c/p>\n\u003cfigure id=\"attachment_11931830\" class=\"wp-caption aligncenter\" style=\"max-width: 800px\">\u003ca href=\"https://ww2.kqed.org/app/uploads/sites/10/2022/11/005_KQED_Twitter_11072022.jpg\">\u003cimg loading=\"lazy\" decoding=\"async\" class=\"wp-image-11931830 size-medium\" src=\"https://ww2.kqed.org/app/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-800x533.jpg\" alt=\"A partial view from below of a seemingly limestone-brick building, with four floors of windows visible, and a white, vertical, two-story sign, with @twitter in gray, capped by the blue bird Twitter symbol. The photo is framed by shadowy, blurred leaves on the left, and perhaps a roof, a dark, triangle, in the bottom right.\" width=\"800\" height=\"533\" srcset=\"https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-800x533.jpg 800w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-1020x680.jpg 1020w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-160x107.jpg 160w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022-1536x1024.jpg 1536w, https://cdn.kqed.org/wp-content/uploads/sites/10/2022/11/005_KQED_Twitter_11072022.jpg 1920w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\">\u003c/a>\u003cfigcaption class=\"wp-caption-text\">The Twitter building in San Francisco. \u003ccite>(Beth LaBerge/KQED)\u003c/cite>\u003c/figcaption>\u003c/figure>\n\u003cp>Late Thursday, Musk briefly joined a Twitter Spaces chat hosted by journalist Katie Notopoulos of BuzzFeed. Musk stood by the suspensions, saying, “You dox, you get suspended, end of story.”\u003c/p>\n\u003cp>He abruptly left the conversation, and, a short time later, all of Twitter Spaces went offline.\u003c/p>\n\u003cp>Some of the journalists who had been suspended, and the creator of the ElonJet Twitter account, were on the Spaces chat with Musk despite the suspension of their Twitter accounts due to what appears to be a technical quirk.\u003c/p>\n\u003cp>Musk later tweeted, “We’re fixing a Legacy Bug,” and said that the service should be up and running again Friday. It remained dormant Friday afternoon.\u003c/p>\n\u003cp>The suspensions come as Musk makes major changes to content moderation on Twitter. He has tried, through the release of selected company documents dubbed “The Twitter Files,” to claim that the platform suppressed right-wing voices under its previous leaders.\u003c/p>\n\u003cp>He has promised to let free speech reign and has reinstated high-profile accounts that previously broke Twitter’s rules against hateful conduct or harmful misinformation, but also has said he would suppress negativity and hate by depriving some accounts of “freedom of reach.”\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003c/p>\n\u003cp>The nonprofit Committee to Protect Journalists, which defends journalists around the world, voiced concern.\u003c/p>\n\u003cp>“If confirmed as retaliation for their work, this would be a serious violation of journalists’ right to report the news without fear of reprisal,” the group said.\u003c/p>\n\u003cp>If suspensions lead to the exodus of media organizations that are highly active on Twitter, the platform would be changed at the fundamental level, said Lou Paskalis, longtime marketing and media executive and former Bank of America head of global media.\u003c/p>\n\u003cp>CBS briefly shut down its activity on Twitter in November due to “uncertainty” about new management, but media organizations have largely remained on the platform.\u003c/p>\n\u003cp>“We all know news breaks on Twitter — it has been stock and trade since I’ve been using Twitter — and to now go after journalists really saws at the main foundational tentpole of Twitter,” Paskalis said. “Driving journalists off Twitter is the biggest self-inflicted wound I can think of.”\u003c/p>\n\u003cp>The suspensions may be the biggest red flag yet for advertisers, Paskalis said, some of which had already cut their spending on Twitter over uncertainty about the direction Musk is taking the platform.\u003c/p>\n\u003cp>“It is an overt demonstration of what advertisers fear the most,” Paskalis said. “Retribution for an action that Elon doesn’t agree with. That would be the No. 1 reason to pause advertising on Twitter if I haven’t done so already.”\u003c/p>\n\u003cp>Advertisers are also monitoring the potential loss of Twitter users. Twitter is projected to lose 32 million of its users over the next two years, according to a forecast by Insider Intelligence.\u003c/p>\n\u003cp>They’re projecting a nearly 4% drop in 2023 and another 5% drop in 2024, as technical issues and the return of accounts banned for offensive posts return under new Twitter rules.\u003c/p>\n\u003cp>\u003cem>Associated Press writers Kelvin Chan in London, Frank Jordans in Berlin, Frank Bajak in Boston and Hillel Italie and Edith Lederer in New York, contributed to this report.\u003c/em>\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"title": "California Approves Lowering Incentives for Rooftop Solar Panels to Evenly Spread Overall Energy Costs",
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"content": "\u003cp>\u003cem>Updated 5 p.m. Friday\u003c/em>\u003c/p>\n\u003cp>California utility regulators on Thursday approved major changes to the state's booming rooftop solar market that they say will more evenly spread the cost of energy and help reduce the state's reliance on fossil fuels in the evening.\u003c/p>\n\u003cp>The state has long led the nation in adoption of rooftop solar panels, and today more than 1.5 million California homes and other buildings have them. Under a decades-old program, people with solar panels can get paid by their power companies by sharing excess solar energy they don't need, leading some solar homes to pay minimal electric bills.\u003c/p>\n\u003cp>That's led to criticism that rooftop solar customers aren't paying their fair share into the rest of the energy grid, which many still rely on for power when the sun goes down. Power rates also include things like transmission equipment and wildfire prevention work, and regulators approve a set amount of money that utilities can recover from customers.[aside label=\"Related Stories\" postID=\"news_11935070,news_11931931,news_11932033\"]The policy approved unanimously by the California Public Utilities Commission lessens the overall payment for selling excess power. It also revamps electric rates to try to encourage people to build home storage systems alongside their panels, so they can tap that stored power at night or feed it back to the grid, either of which would help the system rely less on fossil fuels.\u003c/p>\n\u003cp>“For the rooftop solar industry to remain sustainable, we must place greater value on exports during the truly fossil-heavy time of day,” Commissioner John Reynolds said. “In short, we are making this change because of our commitment to addressing climate change.”\u003c/p>\n\u003cp>Although solar provides a lot of California’s power during the day, fossil fuels largely take over in the evening and during the night. Sometimes, California has more solar power than it can use during the day. Existing rooftop systems are capable of generating about 12,000 megawatts of power, according to the commission, nearly six times what the state's last remaining nuclear plant generates.\u003c/p>\n\u003cp>But battery storage is not yet widespread. Today about 16% to 20% of the 150,000 households that install solar panels annually in California add battery storage systems, according to industry estimates. As of 2020, California started requiring \u003ca href=\"https://apnews.com/article/technology-business-california-ap-top-news-ca-state-wire-afa0978eff8443af9e5d7c77a3c285bf\">all newly built homes to have solar panels\u003c/a>, but there is no requirement for storage.\u003c/p>\n\u003cp>The commission's vote followed sustained criticism over three hours of public comment in which some speakers accused the commission — and Democratic Gov. Gavin Newsom's administration — of hindering the state's climate efforts.[pullquote align=\"right\" size=\"medium\" citation=\"Sean Gallagher, vice president of state and regulatory affairs, Solar Energy Industries Association\"]'The solar and storage industry remains concerned that the transition from net metering to the new net billing structure is too abrupt and threatens to slow the deployment of rooftop solar in California.'[/pullquote]California has pushed forward with ambitious targets for weaning the state off oil and gas. Also Thursday, state air regulators approved a \u003ca href=\"https://apnews.com/article/california-agriculture-climate-and-environment-2591f7c60f1a143e08b599610dc49fce\">climate roadmap\u003c/a> that says California must quadruple its solar and wind power to achieve carbon neutrality by 2045.\u003c/p>\n\u003cp>The fight over the solar changes has gone on for nearly two years, pitting the state’s three major utilities against the solar industry, with many environmental groups caught somewhere in between. The changes will apply only to customers of Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric, which collectively serve a majority of customers in the states. They would not affect people who already have rooftop solar.\u003c/p>\n\u003cp>A utility-backed coalition called Affordable Clean Energy for All estimates that $4 billion in costs are shifted from solar to non-solar customers. Since the change doesn't apply to existing solar customers, the cost shift will continue putting pressure on energy bills for everyone else, the coalition argued.\u003c/p>\n\u003cp>“Numerous independent studies and testimony from diverse parties make clear the current solar subsidy program forces low-income families, renters, seniors and anyone who doesn’t have rooftop solar to bankroll wealthier Californians’ solar systems. Today’s vote ensures this indefensible cost-shift will continue indefinitely,” Kathy Fairbanks, a spokesperson for the coalition, said in a statement.\u003c/p>\n\u003cp>The solar industry disputes that number, saying it doesn’t account for the benefits that rooftop solar provides for everyone, like making the grid more resilient and reducing the need for utilities to build more costly legacy power equipment.\u003c/p>\n\u003cp>Broadly, solar companies have warned that fewer people will add home solar because the overall value of rooftop solar is going down.[pullquote align=\"right\" size=\"medium\" citation=\"Kathy Fairbanks, spokesperson, Affordable Clean Energy for All\"]'... the current solar subsidy program forces low-income families, renters, seniors and anyone who doesn’t have rooftop solar to bankroll wealthier Californians' solar systems. Today's vote ensures this indefensible cost-shift will continue indefinitely.'[/pullquote]“The solar and storage industry remains concerned that the transition from net metering to the new net billing structure is too abrupt and threatens to slow the deployment of rooftop solar in California,” Sean Gallagher, vice president of state and regulatory affairs for the Solar Energy Industries Association, said in a statement.\u003c/p>\n\u003cp>The policy includes a transition period that gives extra incentives to people who install panel and storage systems in the next five years. Low-income utility customers as well as people living in disadvantaged neighborhoods and tribal communities will get double the credits to install home systems. Still, some solar advocates argued the price of solar will be too expensive for those households.\u003c/p>\n\u003cp>The average household solar and storage system costs about $26,000 when taking into account federal tax credits that cover about 30% of the cost, said Bernadette Del Chiaro, executive director of the California Solar & Storage Association\u003c/p>\n\u003cp>But the Public Advocates Office, a consumer advocacy group with the utilities commission, supports the change, pointing to commission estimates that show the proposal will still save residential solar customers an estimated $100 on their monthly bills, or $136 a month if they also install storage systems.\u003c/p>\n\u003cp>“Clean energy use during the day must be extended into the evening. Solar with batteries does exactly that. It’s the next step toward a clean energy future that will improve the air we breathe, the communities we live in, and our overall quality of life,” Matt Baker, the office's director, said in a statement.\u003c/p>\n\u003cp>With those payments, it would take no more than nine years for someone to recoup the cost of installing the solar and battery systems through reduced energy costs, the commission said.\u003c/p>\n\u003cp>[ad fullwidth]\u003c/p>\n\u003cp>[ad floatright]\u003c/p>\n",
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"content": "\u003cdiv class=\"post-body\">\u003cp>\u003cp>\u003cem>Updated 5 p.m. Friday\u003c/em>\u003c/p>\n\u003cp>California utility regulators on Thursday approved major changes to the state's booming rooftop solar market that they say will more evenly spread the cost of energy and help reduce the state's reliance on fossil fuels in the evening.\u003c/p>\n\u003cp>The state has long led the nation in adoption of rooftop solar panels, and today more than 1.5 million California homes and other buildings have them. Under a decades-old program, people with solar panels can get paid by their power companies by sharing excess solar energy they don't need, leading some solar homes to pay minimal electric bills.\u003c/p>\n\u003cp>That's led to criticism that rooftop solar customers aren't paying their fair share into the rest of the energy grid, which many still rely on for power when the sun goes down. Power rates also include things like transmission equipment and wildfire prevention work, and regulators approve a set amount of money that utilities can recover from customers.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>The policy approved unanimously by the California Public Utilities Commission lessens the overall payment for selling excess power. It also revamps electric rates to try to encourage people to build home storage systems alongside their panels, so they can tap that stored power at night or feed it back to the grid, either of which would help the system rely less on fossil fuels.\u003c/p>\n\u003cp>“For the rooftop solar industry to remain sustainable, we must place greater value on exports during the truly fossil-heavy time of day,” Commissioner John Reynolds said. “In short, we are making this change because of our commitment to addressing climate change.”\u003c/p>\n\u003cp>Although solar provides a lot of California’s power during the day, fossil fuels largely take over in the evening and during the night. Sometimes, California has more solar power than it can use during the day. Existing rooftop systems are capable of generating about 12,000 megawatts of power, according to the commission, nearly six times what the state's last remaining nuclear plant generates.\u003c/p>\n\u003cp>But battery storage is not yet widespread. Today about 16% to 20% of the 150,000 households that install solar panels annually in California add battery storage systems, according to industry estimates. As of 2020, California started requiring \u003ca href=\"https://apnews.com/article/technology-business-california-ap-top-news-ca-state-wire-afa0978eff8443af9e5d7c77a3c285bf\">all newly built homes to have solar panels\u003c/a>, but there is no requirement for storage.\u003c/p>\n\u003cp>The commission's vote followed sustained criticism over three hours of public comment in which some speakers accused the commission — and Democratic Gov. Gavin Newsom's administration — of hindering the state's climate efforts.\u003c/p>\u003c/div>",
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"content": "'The solar and storage industry remains concerned that the transition from net metering to the new net billing structure is too abrupt and threatens to slow the deployment of rooftop solar in California.'",
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"content": "\u003cdiv class=\"post-body\">\u003cp>California has pushed forward with ambitious targets for weaning the state off oil and gas. Also Thursday, state air regulators approved a \u003ca href=\"https://apnews.com/article/california-agriculture-climate-and-environment-2591f7c60f1a143e08b599610dc49fce\">climate roadmap\u003c/a> that says California must quadruple its solar and wind power to achieve carbon neutrality by 2045.\u003c/p>\n\u003cp>The fight over the solar changes has gone on for nearly two years, pitting the state’s three major utilities against the solar industry, with many environmental groups caught somewhere in between. The changes will apply only to customers of Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric, which collectively serve a majority of customers in the states. They would not affect people who already have rooftop solar.\u003c/p>\n\u003cp>A utility-backed coalition called Affordable Clean Energy for All estimates that $4 billion in costs are shifted from solar to non-solar customers. Since the change doesn't apply to existing solar customers, the cost shift will continue putting pressure on energy bills for everyone else, the coalition argued.\u003c/p>\n\u003cp>“Numerous independent studies and testimony from diverse parties make clear the current solar subsidy program forces low-income families, renters, seniors and anyone who doesn’t have rooftop solar to bankroll wealthier Californians’ solar systems. Today’s vote ensures this indefensible cost-shift will continue indefinitely,” Kathy Fairbanks, a spokesperson for the coalition, said in a statement.\u003c/p>\n\u003cp>The solar industry disputes that number, saying it doesn’t account for the benefits that rooftop solar provides for everyone, like making the grid more resilient and reducing the need for utilities to build more costly legacy power equipment.\u003c/p>\n\u003cp>Broadly, solar companies have warned that fewer people will add home solar because the overall value of rooftop solar is going down.\u003c/p>\u003c/div>",
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"content": "\u003cdiv class=\"post-body\">\u003cp>“The solar and storage industry remains concerned that the transition from net metering to the new net billing structure is too abrupt and threatens to slow the deployment of rooftop solar in California,” Sean Gallagher, vice president of state and regulatory affairs for the Solar Energy Industries Association, said in a statement.\u003c/p>\n\u003cp>The policy includes a transition period that gives extra incentives to people who install panel and storage systems in the next five years. Low-income utility customers as well as people living in disadvantaged neighborhoods and tribal communities will get double the credits to install home systems. Still, some solar advocates argued the price of solar will be too expensive for those households.\u003c/p>\n\u003cp>The average household solar and storage system costs about $26,000 when taking into account federal tax credits that cover about 30% of the cost, said Bernadette Del Chiaro, executive director of the California Solar & Storage Association\u003c/p>\n\u003cp>But the Public Advocates Office, a consumer advocacy group with the utilities commission, supports the change, pointing to commission estimates that show the proposal will still save residential solar customers an estimated $100 on their monthly bills, or $136 a month if they also install storage systems.\u003c/p>\n\u003cp>“Clean energy use during the day must be extended into the evening. Solar with batteries does exactly that. It’s the next step toward a clean energy future that will improve the air we breathe, the communities we live in, and our overall quality of life,” Matt Baker, the office's director, said in a statement.\u003c/p>\n\u003cp>With those payments, it would take no more than nine years for someone to recoup the cost of installing the solar and battery systems through reduced energy costs, the commission said.\u003c/p>\n\u003cp>\u003c/p>\u003c/div>",
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"info": "Our flagship program, helmed by Kai Ryssdal, examines what the day in money delivered, through stories, conversations, newsworthy numbers and more. Updated Monday through Friday at about 3:30 p.m. PT.",
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"info": "The MindShift podcast explores the innovations in education that are shaping how kids learn. Hosts Ki Sung and Katrina Schwartz introduce listeners to educators, researchers, parents and students who are developing effective ways to improve how kids learn. We cover topics like how fed-up administrators are developing surprising tactics to deal with classroom disruptions; how listening to podcasts are helping kids develop reading skills; the consequences of overparenting; and why interdisciplinary learning can engage students on all ends of the traditional achievement spectrum. This podcast is part of the MindShift education site, a division of KQED News. KQED is an NPR/PBS member station based in San Francisco. You can also visit the MindShift website for episodes and supplemental blog posts or tweet us \u003ca href=\"https://twitter.com/MindShiftKQED\">@MindShiftKQED\u003c/a> or visit us at \u003ca href=\"/mindshift\">MindShift.KQED.org\u003c/a>",
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"info": "For decades, the process for how police police themselves has been inconsistent – if not opaque. In some states, like California, these proceedings were completely hidden. After a new police transparency law unsealed scores of internal affairs files, our reporters set out to examine these cases and the shadow world of police discipline. On Our Watch brings listeners into the rooms where officers are questioned and witnesses are interrogated to find out who this system is really protecting. Is it the officers, or the public they've sworn to serve?",
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"info": "Our weekly podcast explores how the media 'sausage' is made, casts an incisive eye on fluctuations in the marketplace of ideas, and examines threats to the freedom of information and expression in America and abroad. For one hour a week, the show tries to lift the veil from the process of \"making media,\" especially news media, because it's through that lens that we see the world and the world sees us",
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"tagline": "Politics from a personal perspective",
"info": "Political Breakdown is a new series that explores the political intersection of California and the nation. Each week hosts Scott Shafer and Marisa Lagos are joined with a new special guest to unpack politics -- with personality — and offer an insider’s glimpse at how politics happens.",
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"info": "Possible is hosted by entrepreneur Reid Hoffman and writer Aria Finger. Together in Possible, Hoffman and Finger lead enlightening discussions about building a brighter collective future. The show features interviews with visionary guests like Trevor Noah, Sam Altman and Janette Sadik-Khan. Possible paints an optimistic portrait of the world we can create through science, policy, business, art and our shared humanity. It asks: What if everything goes right for once? How can we get there? Each episode also includes a short fiction story generated by advanced AI GPT-4, serving as a thought-provoking springboard to speculate how humanity could leverage technology for good.",
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"radiolab": {
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"info": "A two-time Peabody Award-winner, Radiolab is an investigation told through sounds and stories, and centered around one big idea. In the Radiolab world, information sounds like music and science and culture collide. Hosted by Jad Abumrad and Robert Krulwich, the show is designed for listeners who demand skepticism, but appreciate wonder. WNYC Studios is the producer of other leading podcasts including Freakonomics Radio, Death, Sex & Money, On the Media and many more.",
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"reveal": {
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"officialWebsiteLink": "https://www.revealnews.org/episodes/",
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},
"rightnowish": {
"id": "rightnowish",
"title": "Rightnowish",
"tagline": "Art is where you find it",
"info": "Rightnowish digs into life in the Bay Area right now… ish. Journalist Pendarvis Harshaw takes us to galleries painted on the sides of liquor stores in West Oakland. We'll dance in warehouses in the Bayview, make smoothies with kids in South Berkeley, and listen to classical music in a 1984 Cutlass Supreme in Richmond. Every week, Pen talks to movers and shakers about how the Bay Area shapes what they create, and how they shape the place we call home.",
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"science-friday": {
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