Technology
Twitter discontinues CoTweets, says will debut text attachments next week • TechCrunch

Twitter announced Tuesday that it is discontinuing CoTweeting, a feature that let two users co-author a tweet. The company said that the feature will immediately cease to exist. Users will be able to view the set of co-tweets for a month. After that, they will be automatically converted to retweets on the co-author’s profile.
“For the last several months we’ve been testing a new way to Tweet together using CoTweets. We’re sad to say that the current experiment is coming to an end,” the company said on the support page for CoTweets.
Twitter started testing CoTweets last July saying it wanted to learn how people use this feature to “strengthen their collaborations with other accounts.”
There might still be some hope for the feature to come back in another form. “We’re still looking for ways to implement this feature moving forward,” Twitter said.
While Twitter’s official reasoning behind shutting this feature down was generic, in a tweet Elon Musk said that the social network took the step “to focus on enabling writers to add essays as attachments to tweets.” It’s not immediately clear why it was a hindrance to writing.
Musk also added that next week, the social network is launching a beta version of its new Superfollows program, which will supposedly help creators publish directly on the platform and get paid for it.
Before Musk’s tenure at Twitter, the company had introduced a long-form writing program called Twitter Notes. But it was immediately axed under the new management. Over the last few months, Musk has hinted about introducing long text attachments.
In December, Twitter designer Andrea Conway also posted some concepts to indicate how long text might look like on the platform.
In January, app researcher Alessandro Paluzzi posted a video showing that Twitter might curtail long posts at 280 characters with a “show more…” button at the end. If users click on it, the post will expand to show the full text. However, there is no confirmation that Twitter will stick to this implementation.
Overall, CoTweet’s demise is not entirely surprising. Musk & co. have slashed projects and features like ad-free articles, Twitter Notes, Twitter Toolbox for developers, Twitter Tiles (a new version of Twitter media cards), and very recently third-party Twitter clients.
Technology
GitHub takes down repository containing Twitter’s source code

Microsoft-owned GitHub took down a repository by a user named “FreeSpeechEnthusiast” that contained proprietary source code to Twitter after the social network filed a DCMA takedown request. The username certainly seems to be a jab at Twitter owner Elon Musk, who has claimed to be a “free speech absolutist” many times.
On Friday, Twitter filed a petition in the District Court of Northern California asking GitHub to take down the code and also help it find the perpetrator. The subpoena asks GitHub to disclose name(s), address(es), telephone number(s), email address(es), social media profile data, and IP address(es) linked with “FreeSpeechEnthusiast”.
The development comes days before March 31, when Musk will supposedly make Twitter’s algorithm related to the recommendation open source.
It’s not clear what part of Twitter was leaked on GitHub and for what duration. GitHub’s DCMA takedown blog just mentioned it took down the repository containing “Proprietary source code for Twitter’s platform and internal tools.”
The code-hosting site didn’t say if any users were able to access the repository before the company took it down. We have asked for a comment and will update the story if we hear back.
Twitter might be concerned about copies of the code that might not be present on GitHub. Twitter’s internal investigation suggested that the people who were responsible for the leak left the company last year, as per a report from the New York Times. The story also suggested that the social network’s executives got to know about the code leak only recently.
The company is facing a tough time after Musk’s takeover last year. Recent reports suggest that the Tesla CEO now values Twitter at $20 billion — less than half of the $44 billion he paid for the social network. According to a report from the New York Times, Musk also wrote an email to employees to announce a new stock compensation program that said Twitter could be worth $250 billion one day.
To get Twitter’s finances in better shape, Musk has taken radical steps for cost-cutting including mass layoffs and relaunching a new subscription program that offers verification as one of the benefits. According to data from analytics firm Sensor Tower, Twitter has managed to just get $11 million out of this new service. For comparison, Twitter registered $1.17 billion in revenue for Q2 2022.
At a recent conference, Musk said that time on users’ Twitter is poorly monetized.
“The average amount of time that people spend on Twitter per day that 250 million [monthly active users] is around half an hour or so. So what we have is — the thing that’s I think most interesting — is there are about 120 to 130 million hours of human attention per day on Twitter,” he said
“Every single day on, average, which is — I think it comes to a really interesting point which is to — just it’s startling how poorly monetized that is — because you have to say like how valuable is that attention 100 to 130 million hours of human attention per day of people that read — so these are the generally the smartest people in the world, the most influential people in the world.”
As expected, when we reached out to Twitter, we got a poop emoji.
Technology
Activist investor Elliott ditches director nomination plans for Salesforce

Activist investor Elliott Investment Management won’t be proceeding with plans to nominate its own directors to Salesforce’s board, citing improved performance and a clearer “focus on value creation” from the enterprise software company.
Elliott — one of five activist investors within Salesforce’s ranks — announced ahead of Salesforce’s recent Q4 earnings that it was pushing several of its own candidates toward the Salesforce board after a turbulent 2022 for the company. However, after a return to financial form for Salesforce, beating growth forecasts and announcing more shareholder returns, it seems this has been enough to convince Elliott that Salesforce has corrected course.
In a joint statement today, the companies said that in light of Salesforce’s recently announced “profitable growth framework” dubbed “New Day,” alongside its strong fiscal year 2023 and a slew of additional “transformation initiatives,” Elliott won’t pursue its director nominations.
“I have great respect for Marc [Salesforce co-founder and CEO Marc Benioff] and his team, and I have become deeply impressed by their strong ongoing commitment to profitable growth, responsible capital return and an ambitious shareholder value creation plan,” Elliott managing partner Jesse Cohn noted in a press release.
Technology
First Citizens to acquire Silicon Valley Bank

First Citizens BankShares has agreed to buy Silicon Valley Bank, the California lender that served as lifeblood of thousands of startups and whose collapse sent shockwaves through the financial sector, the Federal Deposit Insurance Corporation said on Monday.
The deal includes the purchase of about $72 billion assets of Silicon Valley Bank at a discount of $16.5 billion. About $90 billion in securities and other assets of the California-based lenders will remain “in receivership of disposition” by the U.S. Federal Deposit Insurance Corporation.
The announcement comes weeks after the FDIC seized control of Silicon Valley Bank on March 10 after a run on deposits made the lender insolvent. The 17 former branches of Silicon Valley Bank will open as First Citizens Bank on Monday, the FDIC said.
“In addition, the FDIC received equity appreciation rights in First Citizens BancShares, Inc., Raleigh, North Carolina, common stock with a potential value of up to $500 million,” the FDIC said in a statement.
Before the collapse, the Silicon Valley Bank was the 16th largest bank in the U.S. Its meltdown was the largest bank failure in the U.S. since the 2008 financial crisis.
More to follow.
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