Tag: Starlink

Musk wages another private war. Brazilian Supreme Court Justice Alexandre de Moraes has suspended Elon Musk’s social media platform X in Brazil. This decision follows X’s failure to appoint a legal representative in the country, a mandatory requirement under Brazilian law to ensure foreign companies can be legally notified. Musk has strongly criticized Justice de Moraes, calling him a “dictator” and a “criminal” masquerading as a judge."

In the wake of Reddit's successful initial public offering (IPO), there is an anticipated surge in scams promising shares in companies on the verge of their own IPOs. Such scams are not new and have been a method of deceit for years, targeting uninformed investors eager to get in on the ground floor of the next big company. A notable name often mentioned in these fraudulent offers is Elon Musk's Starlink, a company many investors are keenly watching.

Reddit's much-anticipated Initial Public Offering (IPO) has successfully captivated the market's attention, marking a notable transition for the social media entity from a niche platform to a publicly traded company. Reddit's shares experienced a significant surge, closing 48% above its IPO price, which elevated its fully diluted market capitalization to an impressive $9.5 billion. It was the first big tech IPO in 2024, but we expect to see more as the year unfolds.

Elon Musk is undoubtedly the first "richest man" who has made social media and Twitter, in particular, an essential tool of his reign. The founder of Tesler and SpaceX announced the acquisition of Twitter for $44 billion. Shortly after that, he declared the deal pending because the number of Twitter fake accounts would be significantly higher than the maximum 5% stated by Twitter. Now SpaceX is expected to set new records with a new capital increase helping Musk to finance the Twitter deal.

The Ukraine war is also being fought in cyberspace. Russia has apparently tried to shut down the Internet for Ukraine. Consequently, Mykhailo Federov, Vice Prime Minister of Ukraine and Minister of Digital Transformation, asked Elon Musk via Twitter to provide Starlink satellite broadband service in Ukraine. Within a few hours, the tech billionaire answered and informed Federov that Starlink would be active now in Ukraine and that more terminals would be en route.