Elon Musk will tap into his personal wealth for buying Twitter

Here are today’s top trending news from the world of technology. News that we feel every technology enthusiast should know.

1)

Elon Musk will tap into his personal wealth for buying Twitter

The $44 Bn Twitter deal, which was temporarily halted few a days back, is back on track. This after Twitter’s latest regulatory filings confirmed that Musk is changing the funding pattern of this deal. According to this new funding pattern, the Tesla boss will pledge more of his personal wealth and rely more on equity funding than on bank loans. As per the previous deal, Musk was supposed to take at least a $6 Bn loan from banks by pledging his Tesla shares. However, the loan deal has been cancelled now. This also means that Musk now won’t have to pledge his Tesla shares.

2)

Tesla is planning to open a restaurant in Hollywood

Electric vehicle is planning to open a 24 hours restaurant in America’s film & entertainment hub Hollywood. Elon Musk’s company has asked for permission from Los Angeles authorities for opening this restaurant. According to reports, this restaurant will be spread across 9,200 square feet. But mind you, this restaurant will be a drive-in restaurant, which means that customers can order and enjoy their food while sitting in the car. And yes, this restaurant will also have Tesla’s charging station. However, it is still not known when Tesla plans to open this restaurant.

3)

Mark Zuckerberg has been banned from entering Russia

Meta’s owner & CEO Mark Zuckerberg can now no longer travel to Russia. Zuckerberg has been put under Russia’s travel ban list, which also includes American President Joe Biden. This is seen as Vladimir Putin’s backlash against the Meta company, after its popular platforms Facebook and Instagram were repeatedly found censoring Russian news and content. All these censorship and boycott call by American companies is happening because of Russia’s ongoing military invasion against Ukraine. By the way, for all those who don’t know, Russia had already banned Facebook and Instagram in March itself.

4)

Apple is planning to relocate its Shanghai factory  

Fed up by China’s strict lockdown, Apple’s Chinese supplier Quanta is now planning to shift its plant from Shanghai to another Chinese city. And probably that another city is going to be Chonqing, where Quanta already has a factory. By the way, Quanta only manufactures MacBooks and not iPhones. Few days back, there were media reports that Apple may also ask its Chennai factory to increase the production of iPhones. According to media reports, the production of all Apple products has been badly hampered due to the ongoing COVID lockdown in China.

5)

Unacademy warns its employees ‘perform or perish’

India’s popular edtech platform Unacademy has warned that the company is heading towards tough times. And this is all because of the dry funding spell in the startup industry. In a long e-mail, Unacademy’s CEO and co-founder Gaurav Munjal has informed all his employees that the company won’t be able to raise funds for next 18 months or so. This simply means that the company will have to increase its operational revenue by hook or crook. If it fails to achieve this goal then Unacademy may have to lay off employees. Notably, earlier this year Unacademy had laid off nearly 600 employees for reducing its operational cost.