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Elon Musk avoids talking about Twitter deal at Sun Valley Moguls rally – Source

Elon Musk avoids talking about Twitter deal at Sun Valley Moguls rally - Source

SpaceX owner and Tesla CEO Elon Musk speaks at the E3 Games Conference in Los Angeles, California, US, June 13, 2019. REUTERS/Mike Blake/

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(Reuters) – A person who attended the conference told Reuters that Elon Musk avoided discussing the collapsed Twitter deal and merely repeated allegations of fake accounts on the social media platform while addressing an audience of Emperors on Saturday.

Billionaire Entrepreneur and CEO of Tesla Inc (TSLA.O) and SpaceX on stage at the Allen & Co Sun Valley conference, an annual gathering of media and technology executives in Idaho, less than 24 hours after announcing the termination of its $44 billion deal to buy Twitter Inc. (TWTR.N).

Musk’s arrival at the Allen & Co Sun Valley conference sent a jolt into this week’s unrecorded event, with headlines usually happening outside the prying eyes of the media.

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The interview was conducted by Sam Altman, CEO of OpenAI, an artificial intelligence research firm, funded by Musk and several others.

“It feels like absolute chaos,” said a senior media official, who spoke on condition of anonymity before the interview. “Man makes his own rules…I hate being Twitter, where you have to take this guy seriously.”

Sun Valley is usually covered as a sports version of the Met Gala, with incoming paparazzi capturing sweater-clad media moguls and journalists blogging lunches at the property’s Konditorei Café.

A prominent Hollywood mediator on Friday hoped that Musk’s interview would revive the well-established and cerebral atmosphere of the convention this year.

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Hours later, Musk’s lawyers delivered an eight-page letter to Twitter, saying he intended to scrap the deal to acquire the social network. The document, filed with the Securities and Exchange Commission, alleged that Twitter failed to respond to repeated requests for information over the past two months, or to obtain its approval before taking actions that would affect its business — such as the dismissal of two key executives. Read more

Up until that point, conversations in media circles had focused on Wall Street’s reassessment of the streaming business in the wake of Netflix Inc (NFLX.O) Subscriber losses. One digital media executive said Hollywood, which is usually insulated from recessions, has suddenly become concerned about how the slumping economy will affect its multi-billion dollar investment in streaming services.

“For the first time, people are realizing that the economy is really affecting the entertainment business, because inflation affects disruption,” said the digital media executive, referring to subscribers leaving the service. “People are now saying, ‘Wow, are people really going to pay for three of these things?'” “

After Musk’s announcement, one of the CEOs pointed to the elephant in the room — Saturday’s remarks may be uncomfortable for two conference attendees: Twitter CEO Parag Agrawal and chief financial officer Ned Segal.

One of Musk’s recent public messages to Agrawal came in the form of a bubble emoji tweet in response to the Twitter CEO’s defense of how the company accounts for spam bots. Read more

(Don Chmilevsky reports from Los Angeles); Editing by Kenneth Lee and Franklin Poole

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