The FTC (Federal Trade Commission) announced that it is closely monitoring the movements on Twitter. With recent platform changes, employee layoffs and inconsistent decisions by Elon Musk, the entity felt it was necessary to worry and possibly intervene in the latest acquisition of Tesla’s CEO.
We are following recent developments on Twitter with deep concern. No CEO or company is above the law, and companies must follow our ordinances of approval. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them.
With these very direct words, the FTC leadership has made it clear that they do not approve of the measures taken by Musk thus far.
Thus, the entity starts to look more closely at complaints from users, companies, etc. If she finds something that supports an in-depth investigation, it is possible that she will use her resources to face a company the size of the bird’s social network.
Lawyer warned of possible fine
After the changes that affected many professionals and users of Twitter, the security and privacy teams of the brand began to worry.
According to information from the The Verge, Privacy Chief Damien Kieran, Security Office Information Lead Lea Kissner, and Chief Compliance Officer Marianne Fogarty have resigned from their positions. A lawyer from the company’s privacy team then stated that:
Elon showed that his only priority with Twitter users is how to monetize them. I don’t think he cares about the human rights activists, the dissidents, our users in non-monetizable regions, and all the other users who made the web the global city square that you all spent so much time building, and we all love.
It is important to remember that the social network entered into a settlement with the FTC in May 2022, after they discovered that the company used personal data to target advertisements. That is, if the firm does not comply with what was agreed, it could be fined billions of dollars.
Agreement started in 2011
Twitter accepted the decree that the FTC defined after the entity discovered the misuse of data by users of the platform. In the following years, other cases emerged, which culminated in a $150 million settlement in 2022.
These terms require the site to establish and maintain a program to ensure that its new features do not “jeopardize the extent to which it maintains and protects the security, privacy, confidentiality, or integrity of any non-public consumer information.”
With the frequent changes to the social network, it’s not surprising that the FTC has started to take a closer look at everything.
I’m not there, I’m not there…
Just as the popular song by singer Luka says, it seems that Elon Musk just doesn’t care about the current situation.
O The Verge points out that Alex Spiro, Twitter’s legal leader, said the new owner is willing to take a high level of risk in relation to the company and its users. In his words:
Elon Puts A Rocket In Space, He Ain’t Afraid Of The FTC🇧🇷
There are reports that teams are working the night before the release of the news to review legal issues. For example, before the premiere of new twitter blue, a “red team” was focused on reviewing potential risks. Interestingly, none of this team’s suggestions made it into the final version of the service, according to an employee.
In this way, the feeling is that the teams work for nothing, as their opinions are little heard by the new owner.
And worst of all: Elon himself does not rule out the ruin of the brand. The kingpin told a meeting that “Twitter is losing so much money that bankruptcy is not out of the question.” It is worth remembering that the platform has not made a profit since 2019 and that its revenue has been declining since the rise of the CEO🇧🇷
Finally, Musk stated that one of the reasons he is so interested in focusing on the subscription system is to “keep Twitter alive”.
With information: TechCrunch and Engadget🇧🇷