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››Elon Musk says Twitter deal can’t happen until dispute with bot is resolved

Elon Musk says Twitter deal can’t happen until dispute with bot is resolved

By Shirley J. Speights
May 17, 2022
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Without citing a source, Musk claimed in a tweet that Twitter is “20% fake/spam accounts” and suggested that Twitter’s filings with the Securities and Exchange Commission were misleading. The company said less than 5% of its daily active users are spam accounts.

“My offer was based on the accuracy of Twitter’s SEC filings,” Musk tweeted. “Yesterday the CEO of Twitter publicly refused to show proof of

Musk doubled down later in the day, posting a Twitter poll to its more than 93 million followers with the prompt: “Twitter claims that >95% of daily active users are real unique humans. Anyone have this experience?”
He also tagged the verified SEC Twitter account in a later post. Tweeter. He seemed to invite the regulator, whom he has clashed with in the past, to look into the matter by asking, “anyone home?”
Musk’s latest tweets appeared to cast further doubt on the $44 billion deal. Musk said Friday he was “temporarily suspended” but was “still committed to the acquisition.” This Musk pivot has fueled speculation that the world’s richest man could be using the bot debate to get a better price for Twitter, either as a bargaining tactic or out of necessity.

Shares of Twitter were down 1.7% in premarket trading on Tuesday. The stock erased all of its gains in the weeks after Musk revealed his stake in the company and now trades at $36.80 per share, well below Musk’s offer price of 54.20. $ per share.

“Twitter is committed to completing the transaction at the agreed price and terms as quickly as possible,” the company said in a statement Tuesday.

On Monday, Musk traded a series of tweets with Twitter CEO Parag Agrawal about the spam account issue.
Twitter (TWTR) suspends “more than half a million spam accounts every day”, Agrawal wrote. He also reiterated the 5% statistic, saying this estimate is based on “several human reviews … of thousands of accounts” randomly sampled. Twitter has previously acknowledged that while it considers its estimates to be “reasonable”, the metrics have not been independently verified and that the actual number of fake or spam accounts could be higher.
Agrawal’s first 13 tweets received a response from Musk that reflected the unusual and extremely online nature of the deal: a poo emoji.
Musk followed up with a slightly more thoughtful question. “So how do advertisers know what they’re getting for their money? » Musk asked “It’s fundamental to the financial health of Twitter,” he added.
Musk has repeatedly spoken out against bots and spam accounts on Twitter, once describing cryptocurrency spam bots as the “platform’s most annoying problem.” Anyone who knows the replies to Musk’s tweets knows that they are full of such scams, many of which try to capitalize on Musk’s name.

“The bot problem at the end of the day … seems to us more like the ‘dog ate the homework’ excuse to bail out the Twitter deal or talk about a lower price,” Dan Ives and John Katsingris, analysts at Wedbush Securities , wrote in a note on Monday.

Elon Musk says Twitter's legal team told him he violated an NDA

In his Twitter thread, Agrawal said most spam campaigns on Twitter use a combination of humans and automation, rather than being primarily bot-driven. Analyzing legitimate and fake accounts can be complicated, he said.

“The difficult challenge is that many accounts that appear superficially fake — are actually real people,” he said. mentioned. “And some of the spam accounts that are actually the most dangerous – and cause the most harm to our users – may seem entirely legitimate at first glance.”
Agrawal mentioned Twitter had been in touch with Musk over the spam issue.

“We shared an overview of the estimation process with Elon a week ago and we look forward to continuing the conversation with him and all of you,” he added.

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