Ellon Musk delays deal with Twitter
Twitter’s takeover – for $44 billion – cannot take place until it is proven that the platform’s fake accounts do not exceed 5%, Ilon Musk noted on Twitter after yesterday’s meeting in which he disagreed with the company’s executive director.
“Twitter’s executive director 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 so, the transaction cannot proceed,” he added. At this point, we shall recall an earlier post from Friday. Musk informed that he froze temporarily the deal to acquire Twitter. At least, until it is verified whether the fake accounts really represent less than 5% of the social media medium’s users.
Reuters reported earlier today discussions from a meeting held yesterday. There was disagreement between the company’s executive director Parag Agrawal and Ilon Musk over the platform’s estimates of the percentage of fake user accounts. Trishna in a post made earlier today said that internal estimates for the number of fake user accounts on the social media platform reported by Musk at 5% (referring to last 4 quarters). This was an answer to any critiques Musk has had with reference to these fake accounts.
Elon Musk made the following statement on Friday. “The agreement is not being implemented provisionally”. I recently read an article about how fake accounts have been reacting to Agrawal’s argument. “So how will advertisers know what they are getting for their money? This is fundamental to Twitter’s financial health,” Musk wrote. He also mentioned that social media users who tweet a lot might be bots and bots only make up for about 25% of all active Twitter accounts.
This matter makes headline for months now, but Ellon Musk delays deal with Twitter until today. What shall we expect in the next few months?
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Author: PC-GR
The World of Technology
