The Week in Business: Who comes after Elon Musk?

Elon Musk said he will step down as Twitter boss once he finds a successor “dumb enough to take the job.” Last weekend, after facing backlash over unpopular content moderation policies and the banning of high-profile users, including some journalists, Mr Musk asked his nearly 123 million Twitter followers in a “poll” whether he should resign, and said he would abide by the result of the vote. 57 percent of the 17.5 million respondents said “yes”. After a notable silence, Mr Musk said Tuesday he would be stepping down as chief executive — although he added that he still plans to oversee Twitter’s software and server teams. Mr. Musk has shown an affinity for polls in the past. When asked about user input on decisions, Mr. Musk said have sent “Vox Populi, Vox Dei,” roughly meaning that the voice of the people is the voice of God.

YouTube beat out bids from Apple and Amazon to acquire the rights to the National Football League’s Sunday Ticket game pack. YouTube has agreed to pay the league about $2.5 billion a year, about $1 billion from DirecTV, the former rights holder. The deal will allow people to stream almost all NFL games on YouTube next season. The deal’s exact timeline is unclear, but YouTube and the NFL called it a “multi-year deal.” Apple recently dropped out of the rights race, opting instead to sponsor the 2023 Halftime Show — a performance by Rihanna.

When Mark Zuckerberg was asked by a lawyer if Meta, the parent company of Facebook, WhatsApp and Instagram, was “trying to shape the future of technology,” he hesitated, then replied, “Yes. That’s a pretty broad statement, but yes.” Lord. Zuckerberg appeared as a key witness in federal court in San Jose, California on Tuesday. The case will decide whether to grant the Federal Trade Commission an injunction to block Meta’s $400 million acquisition of Within, a company that makes a virtual reality fitness game. If the FTC blocks the acquisition (originally announced in 2021), it could set an antitrust precedent.

As the new year approaches, economists and officials try to predict what might be next for the economy. But the future, as Fed Chair Jerome H. Powell said this month about the possibility of a recession, is “unpredictable.” This is true every year and especially now in our current economic climate. The economy has turned forecasts on their head and defied the usual patterns in recent years. Historical data, which is generally useful to those making economic forecasts, has not proven to be a reliable guide. In 2022, the Federal Reserve raised interest rates at the fastest rate since the 1980s to slow growth and contain inflation. It remains to be seen how these tariff changes will play out in the coming year.

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