Latest news with #AntonioGracias
News24
3 hours ago
- News24
Hubris Maximus: The Shattering of Elon Musk
Cover In Hubris Maximus: The Shattering of Elon Musk, journalist Faiz Siddiqui looks closely at one of the most powerful and unpredictable people in the world. Musk is very serious about his vision. Even when it's not the easiest or most profitable path. Cover Extract | Chapter – Welcome to level 2 of hell Late one evening shortly after Elon Musk took over Twitter, head of trust and safety Yoel Roth ventured from his desk in the San Francisco office where he had worked for seven years to grab some dinner. Taking a seat on a second-floor sofa, Roth began running down a set of data on child safety at Musk's request. Antonio Gracias, one of Musk's most trusted associates approached. 'What are you doing?' he asked. Roth replied that he was obtaining data on child safety. 'Why are you doing that?' Gracias countered. Because people have concerns about it, Roth said, taken aback by the inquisition. Gracias continued. 'Who told you to do that? ... Why are you doing it?' Again Roth answered. Gracias paused. 'Well ... why are you doing it here?' Gracias' tone was sufficiently disdainful that Roth decided to pick up and relocate. As far as Roth was concerned, he had simply sought a moment's comfort while working to satisfy his boss' orders well after normal hours and it was unreasonable to be forced to justify himself to a strange man with no formal role at the company. For years, Musk had a golden reputation, a genius who saved the US space programme and made electric cars cool. He was everywhere, even on shows such as The Big Bang Theory and Iron Man 2. Gracias, who had similarly put off Tesla's Jerome Guillen with his comments towards factory workers, was starting an important role at Twitter as Musk's chief deputy – managing financial matters, cost cutting and layoffs. His attitude towards the head of trust and safety embodied what Twitter's rank and file feared in their new bosses. So, Twitter employees were not surprised when an email arrived at precisely midnight on 16 November. My phone buzzed at 12.04am. 'Elon just sent an email to the whole company giving us an ultimatum via Google Form,' the person told me. In the days leading up to the midnight email, Twitter had been haemorrhaging advertisers and gutting its ranks, while pushing away power users with sweeping changes aimed at monetising the platform. Against this backdrop of internal discord, Roth had been plotting his resignation. Among his key considerations that month was his personal security. As an executive responsible for content moderation at Twitter, Roth faced vicious online attacks, including threats to his safety. In response, Twitter's corporate security had decided to place a round-the-clock guard outside his home in El Cerrito. Suddenly, however, lawyer Alex Spiro had bad news: Twitter was pulling Roth's personal security. It was a casualty of cost cutting, Musk's lawyer told Roth. But he made sure to punctuate the revelation with a note of reassurance. 'I have clients that are much more famous than you,' he said, in the recollection of a person familiar with the exchange. Not entirely reassuring. That Thursday, Musk held his first all-hands meeting with staff in what was regarded as a disastrous introduction to a company not yet sold on its new owner. To add to the turmoil, that was the moment when Roth, who had stayed on to serve as Twitter's head of trust and safety – in a promising sign of continuity for advertisers – abruptly quit. He timed his resignation email to hit Musk's inbox while he was speaking to the staff so he wouldn't be able to react in haste. The timing carried another important benefit: Roth could exit the building without being escorted out by security. But among Musk and his circle, Roth's resignation quickly triggered a crisis. Suddenly, messages began pouring in – from Musk's top adviser Jared Birchall and lawyer Alex Spiro – trying to convince him to stay. Birchall and Roth talked by phone for nearly an hour, as Birchall made an unsuccessful bid to keep Roth on board, raising, among other subjects, his compensation. Musk was, of course, still occupied with his address to the staff. But at around 3pm, as Twitter staff and the media were digesting news of the all-hands, Roth received a Signal message. It was Musk. 'Do you have a moment to talk?' he asked. 'It would mean a lot if you would consider remaining at Twitter.' The seven-year Twitter veteran had carefully thought out every aspect of the resignation, including how to de-escalate the situation. He knew the risks of making an enemy of Musk, so he decided to pinpoint the three key reasons behind his decision to leave, tailoring his script around the personal career risks and blowback he faced, instead of indicting Musk's leadership. Show Comments ()
Time of India
22-07-2025
- Business
- Time of India
Musk's xAI to raise up to $12 billion in debt for AI expansion: Report
Synopsis Valor Equity Partners, an investment firm whose founder, Antonio Gracias, has close ties to Musk, is in talks with lenders to raise the capital, according to the report. The money would be used to buy a massive supply of advanced Nvidia chips that would be leased to xAI for a new huge data center meant to help train and power its AI chatbot Grok, the WSJ reported.
CNA
22-07-2025
- Business
- CNA
Musk's xAI working to raise up to $12 billion, WSJ reports
Elon Musk's artificial intelligence startup xAI is working with a financier to secure up to $12 billion more for its expansion plans, the Wall Street Journal reported on Tuesday, citing people familiar with the situation. Valor Equity Partners, an investment firm whose founder, Antonio Gracias, has close ties to Musk, is in talks with lenders to raise the capital, according to the report. The money would be used to buy a massive supply of advanced Nvidia chips that would be leased to xAI for a new massive data center meant to help train and power AI chatbot Grok, the WSJ reported.
