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Twitter bans third-party clients in developer term update
Twitter updated its developer rules to ban third-party clients on Thursday following the recent blocking of several apps’ access to the platform this week.
Some of the apps, such as Tweetbot, which provides a subscriber-only ad-free Twitter experience, would compete with the platform’s subscription service, Twitter Blue. This week several major third-party Twitter applications lost access to the platform. On January 14, The Information reported that the outage was an internal decision by Twitter.
In a statement, Twitterriffic, another third-party app that provided an ad-free Twitter experience for $9.99 per year, said the app has been discontinued by a Twitter that “we no longer recognize as trustworthy nor want to work with any longer.”
Twitterriffic encouraged its customers who subscribed through iOS to consider not requesting a refund from Apple. “The loss of ongoing, recurring revenue from Twitterrific is already going to hurt our business significantly, and any refunds will come directly out of our pockets,” Twitteriffic stated.
Several third-party clients charge Twitter users for various services that range from scheduling a tweet to accessing the platform without using the Twitter app or website. When Tapbots launched the newest version of Tweetbot in 2021, it introduced a subscription-based payment requirement. This required users to pay either $0.99 per month or $5.99 per year. Tweetbot is but one example of the many third-party applications that are now no longer able to access the platform.
An update to Twitter’s developer rules on Thursday explained why Twitter banned third party-apps from accessing the platform. The update followed the company’s tweet from its Twitter Developer account that said it was enforcing its long-standing API rules, which would result in some apps not working.
Twitter is enforcing its long-standing API rules. That may result in some apps not working.
— Developers (@XDevelopers) January 17, 2023
According to Twitter’s Developer Agreement, the platform defined the term Twitter Applications as its “consumer facing products, services, applications, websites, web pages, platforms, and other offerings, including without limitation, those offered via Twitter.com and Twitter’s mobile applications.”
Twitter’s Restrictions on Use of Licensed Materials further elaborates that developers will not “use or access the Licensed Materials to create or attempt to create a substitute or similar service or product to the Twitter Application.” This completely eliminates third-party apps, especially those competing with Twitter Blue.
In November, The Wall Street Journal noted that Twitter hasn’t recorded an annual profit since 2019 and posted a loss in eight years of the past decade. In 2021, Twitter recorded a net loss of $221.4 million. When Elon Musk purchased the platform in October 2022, he has since commented about the platform’s close call with bankruptcy and moved to save it from that fate.
The new CEO revamped Twitter Blue, the platform’s own subscription service, merging it with verification and later relaunching the service. Although Twitter Blue isn’t an ad-free Twitter experience, it does offer users an ad-free news experience for those reading articles inside the app. Other features include bookmarking folders, themes, and personalization–similar to what several third-party apps would provide users for a fee. Twitter noted that it hopes to offer fewer ads for Twitter Blue subscribers in the future.
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Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
