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  /  Latest News   /  Musk’s Present Caricature with Twitter is Stripping Away its Remaining Reputation
Twitter spam bots

Musk’s Present Caricature with Twitter is Stripping Away its Remaining Reputation

Musk says Twitter purchase won’t go ahead without clarity on spam accounts

Elon Musk has stated that he will not proceed with the Twitter deal until there is clarity on fake accounts report. Musk wants assurances that only 5% of the accounts are fake. The purchase of the social media company used by billions of people by the world’s richest man has generated a lot of attention. Almost all politicians, celebrities, and newsmakers are on Twitter and they use it on a regular basis. The fact that Elon Musk is buying the platform is being flagged by many as an over-centralization of power and information.

Musk warned that if Twitter Inc fails to give data on spam and false accounts, he may withdraw his US$44 billion bid to buy the company. In a letter to Twitter, the billionaire restated his request for information on Twitter spam bots and stated that he reserves all rights to terminate the merger because the company failed to provide him with the information in a “clear significant breach” of its commitments. 

Twitter shares were trading at a substantial discount to Musk’s offer of US$54.20 per share, indicating that investors did not anticipate the deal to close at the agreed price. A request for comment from Twitter was not immediately returned. This is the first time Elon has threatened to back out from the transaction on paper rather than on Twitter. 

According to the letter, Musk feels Twitter is openly refusing to comply with its duties under the merger agreement, raising further suspicions that the firm is hiding the needed data. Twitter has previously dismissed Musk’s warning that the acquisition was “on pause,” claiming that the data would aid him in the preparation for his ownership of Twitter and that it was not intended to conduct due diligence or resume discussions. 

Musk stated in May that he would put the transaction “temporarily on hold” while waiting for Facebook to submit data on the percentage of bogus accounts it had. In response, Twitter CEO Parag Agrawal stated that the most sophisticated spam campaigns used a combination of humans and automation and that he did not believe the calculations could be completed externally since they required both public and private information, which Twitter does not disclose.

In his letter, Musk stated that he need the data in order to perform his own research on Twitter users and that he did not trust the company’s “loose testing processes.” He’s trying to back out of the Twitter transaction, and this is the first shot across the bow. Musk, a self-described free-speech absolutist, who owns 9.6% of Twitter and is the company’s second-largest shareholder, has stated that one of his top priorities will be to eliminate Twitter spam bots from the platform.