Twitter-Elon Musk: No redemption unless fake accounts prove to be below 5%

The owner of Tesla Elon Musk announced today that the acquisition of Twitter will not materialize unless there is a guarantee that less than 5% of the platform’s accounts are fake.

“Twitter’s CEO yesterday refused to provide evidence that less than 5% of accounts are fake,” Musk, who has 94 million followers, wrote on Twitter.

“Until he does that, the transaction can not proceed,” he added.

Elon Musk would prefer a lower purchase price

Elon Musk hinted that a lower takeover price of Twitter Inc. might have been more appropriate, as he and CEO Parag Agrawal disagreed yesterday, Monday, over Twitter estimates of the percentage of fake user accounts. according to a source who attended a private conference where Musk was a speaker.

THE Twitter stock price expanded its losses late in the afternoon following Musk’s comments, which were made at a conference in Miami, which was not accessible to the media.

Shares fell more than 8% to close at $ 37.39 (€ 35.82), below the day before Musk announced his stake in Twitter in early April, raising doubts. that the billionaire businessman will enter into the $ 44 billion (€ 42.15 billion) takeover agreement at the agreed price.

Agrawal said in a post earlier yesterday that internal estimates for fictitious user accounts on the reported social networking platform and for the last four quarters were “well below 5%.” Responding to Musk’s recent criticism of the company’s management of fictitious user accounts.

Twitter’s assessment, which has remained stable since 2013, cannot be reproduced externally, as both private and public information needs to be used to decide if a user account is fake, he added.

THE Maskwho said on Friday that “the agreement is not being applied temporarily” while waiting for information about fake user accounts, reacted to Agrawal’s argument for the company’s methodology by posting a poop emoji.

“So how do advertisers know what they’re getting for their money?” “This is fundamental to Twitter’s financial health,” Musk wrote.

Shortly after his posts on TwitterMusk said at the conference in Miami, that he suspects that automated user accounts make up 20% or 25% of active users, according to posts made by some of those attending the same conference.

Musk has pledged to change Twitter content management practices, while opposing “aggressive” decisions by the company, such as banning access to former US President Donald Trump, and has promised to take action to address it. of “automated user accounts” on the same platform.

Musk has called for random user tests to tackle automated accounts and says he has not yet read “any” analysis that fake user accounts account for less than 5% of the Twitter user base.

He said on Sunday that “there is a possibility that automated accounts may be more than 90% of daily active users.”

Independent researchers estimate that between 9% and 15% of millions of Twitter users are fictitious through the use of appropriate software.

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