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EU tells Elon Musk ‘huge work ahead’ for Twitter

2022/11/30/21:23
in Financial insights
Reading Time: 2 mins read
251 3
A A
The world’s richest man’s wealth has taken a $100 billion hit in 2022

Elon Musk's net worth has slumped $100 billion so far this year, but he is still the world's richest person.

Elon Musk has been told he faces “huge work ahead” to bring Twitter into compliance with new European rules on disinformation or face a possible ban.

European Union commissioner Thierry Breton made the comments in a meeting with Mr Musk on Wednesday.

He said the social media site would have to address issues such as content moderation, disinformation and targeted adverts.

The back-and-forth comes as the new law is set to go into effect in 2023.

If companies are found to be violating the rules, they face fines of up to 6% of global turnover – or a ban in the case of repeated serious breaches.

In a statement after the meeting, Mr Breton said he welcomed Mr Musk’s assurances that he would get Twitter ready to comply.

“Let’s also be clear that there is still huge work ahead, as Twitter will have to implement transparent user policies, significantly reinforce content moderation and protect freedom of speech, tackle disinformation with resolve, and limit targeted advertising,” he said.

“All of this requires sufficient AI (Artificial Intelligence) and human resources, both in volumes and skills. I look forward to progress in all these areas and we will come to assess Twitter’s readiness on site.”

The EU plans to conduct a “stress test” in 2023 ahead of a wider audit, his office said.

Source: BBC

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