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WSJ Tech News Briefing

TNB Tech Minute: Elon Musk Likely Has to Cooperate With SEC Probe, Judge Says

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 14 December 2023

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: GM’s self-driving car company Cruise lays off 24% of its workforce. And Meta’s Threads goes live in Europe. Alex Ossola hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Make Match days easy with Google Pay.

0:02.0

Running late for kickoff, tap in and speed through.

0:05.0

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0:07.0

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0:09.0

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Match days made easy with Google Pay.

0:13.5

Add a card to your Google wallet.

0:15.0

Here's your TMB Tech Minute for Thursday, December 14th.

0:20.0

I'm Alex Oscela for the Wall Street Journal.

0:23.0

A federal judge has said she would probably order Elon Musk to cooperate with the Securities and Exchange Commission investigation related to his 2022 takeover of Twitter.

0:33.0

The SEC's probe looks at whether Musk committed civil fraud

0:37.0

by omitting information about his plans for Twitter

0:39.0

when he bought up the company's shares between January and April 2022.

0:43.8

That's according to recent court filings.

0:46.2

Musk is contesting the SEC's ability to continue asking him for information

0:50.1

about Twitter, which he has since renamed X.

0:53.6

GM's self-driving car company Cruz has laid off nearly a quarter of its workforce.

0:58.9

The layoffs span 900 workers, or 24% of its full-time employees in commercial operations and related corporate roles,

1:06.0

Cruz said.

1:07.0

The company's business has struggled since an October crash.

1:11.0

Cruz lost its driverless permits in California and subsequently paused operations

1:15.1

nationwide. And Meta has launched threads in Europe its biggest market

...

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