Elon Musk threatens to pull Twitter deal unless he sees bot figures

Elon Musk threatens to pull the plug on Twitter deal unless CEO Parag Agrawal provides proof that less than 5% of Twitter accounts are bots

  • Musk has tweeted again that his $44billion Twitter deal ‘cannot move forward
  • He estimated that bots make up at least 20 per cent of Twitter’s users
  • Analysts claim he is trying to lower the price or pull out of the deal completely
  • Elon Musk has again stated his Twitter deal ‘cannot move forwarduntil the social media company shows proof of its spam account figures.

    Il Tesla Vandalo, who last month offered $44billion for the tech platform, disputes their claims that bots represent around five per cent of their users, believing the figures could be ‘much higher’ di 20 per cento.

    The world’s richest man fired off a tweet this morning stating: ‘20% fake/spam accounts, mentre 4 times what Twitter claims, could be *much* higher.

    "La mia offerta si basava sull'accuratezza delle dichiarazioni SEC di Twitter.

    'Ieri, Il CEO di Twitter ha rifiutato pubblicamente di mostrare la prova <5%.

    ‘This deal cannot move forward until he does.

    Elon Musk has again stated his Twitter deal 'cannot move forward' until the social media company shows proof of its spam account figures

    Elon Musk has again stated his Twitter deal ‘cannot move forwarduntil the social media company shows proof of its spam account figures

    The Tesla CEO, who last month offered $44billion for the tech platform, disputes their claims that bots represent around five per cent of their users

    The Tesla CEO, who last month offered $44billion for the tech platform, disputes their claims that bots represent around five per cent of their users

    Shares closed Monday at $37.39. In pre-market trading today, they continued the slump to $36.20

    Shares closed Monday at $37.39. In pre-market trading today, they continued the slump to $36.20

    La settimana scorsa, Musk ha affermato di voler sospendere l'accordo per verificare che gli account falsi o spam rappresentassero meno di 5 per cento della società 229 milioni di utenti nel primo trimestre.

    The surprise tweet caused stocks to continue their nosedive since his deal was announced, poiché gli analisti hanno ipotizzato che Musk stia cercando di negoziare un prezzo più basso per l'accordo o ritirarsi completamente.

    Though Twitter’s board agreed to the purchase last month, it still has not been approved by shareholders, and was not expected to close for at least several months. The legal and practical implications of Musk’s tweets remain unclear.

    Twitter’s share price has been sinking following the April 25 announcement that Twitter’s board had agreed to his buyout, when stocks closed at $51.70.

    They closed Monday at $37.39. In pre-market trading today, they continued the slump to $36.20.

    Elon Musk is seen on Monday addressing the All In podcast conference in Miami

    Elon Musk is seen on Monday addressing the All In podcast conference in Miami

    Analysts questioned why Musk would suddenly express concern about Twitter’s estimate that 5 percent of accounts are fake, an estimate that the company has included in regulatory filings for years.

    Susannah Streeter, analista di Hargreaves Lansdown, detto venerdì: 'Questo 5% la metrica è fuori uso da un po' di tempo. Chiaramente l'avrebbe già visto… Quindi potrebbe essere più parte della strategia abbassare il prezzo.

    "Sarà molto frustrante per molti in azienda dato che un certo numero di dirigenti senior è già stato licenziato,’ lei disse.

    Parag Agrawal, the CEO of Twitter, has defended the company's policies

    Parag Agrawal, the CEO of Twitter, has defended the company’s policies

    Neil Campling, head of TMT Research in London, disse: ‘Laughable. We’d always said he may cut or run or change his tune at the 11th hour and 59 minuti e 59 seconds on the clock. It is farcical.

    ‘He has never had the full fundingwe know that from his constant attempts to get financial supportbut he also held all the cards.

    ‘And the Twitter board have been held hostage and only have themselves to blame for this mess. No other buyer will emergeif he decides he is still interested he can name his priceand it won’t be higher!

    'Essi (il bordo) should have seen this coming. There was a specific performance clause in the merger agreement (sezione 9.9), which gave Twitter the right toconsummate the closing (of the deal)” but only if he had the financingwhich he doesn’t.

    Michael Hewson, chief markets analyst at CMC Markets, aggiunto: 'Ovviamente, the markets are reacting as if he is going to pull out of the deal, otherwise why are Twitter shares down 20 per cento. So maybe he’s (Elon Musk) paving the ground for pulling out of the deal.

    ‘But the timing is curious given the lengths he’d gone to to secure financing for the deal. Così, maybe some share holders in SpaceX and Tesla said they want his attention on his primary concerns there. This is straight out of the Musk play book, keeping shareholders on their toes.

    It comes after he yesterday fueled speculation he could be seeking to negotiate a lower price for his buyout, telling a Miami tech conference that an agreement at a lower price wouldn’t be ‘out of the question.

    He also responded with a poop emoji to CEO Parag Agrawal’s lengthy thread explaining the problem in trying to detect and eliminate bots.

    ‘So how do advertisers know what they’re getting for their money? This is fundamental to the financial health of Twitter,’ Musk ha accennato al fatto che Tesla era sulla buona strada per raggiungere consegne di veicoli record quest'anno.

    Journalist Molly Jong-Fast replied: ‘You’re obviously trying to get out of the deal.

    Musk told the Miami audience that he thought around 20 percent of Twitter accounts were fake.

    Attendees had paid $7,500 each for tickets to the three-day conference in Florida

    Attendees had paid $7,500 each for tickets to the three-day conference in Florida

    He asked rhetorically if the figure could be as high as 90 per cento, according to a live-streamed video of his remarks posted by a Twitter user, and obtained by Bloomberg.

    ‘Currently what I’m being told is that there’s just no way to know the number of bots,’ Musk said at the conference.

    ma presto si rese conto che avevano aperto opportunità per essere creativi, as unknowable as the human soul.

    He reportedly told the audience that the more questions he asked, the more concerned he was growing.

    Musk spoke at a conference hosted by the All In podcast, run by Chamath Palihapitiya, an entrepreneur and early Facebook executive; Jason Calacanis, an angel investor; David Sacks, former chief operating officer at PayPal, which Musk merged his company with in 1999, and David Friedberg, founder and CEO of The Production Board, a company geared towards solving major problems in the world.

    The $7,500-per-person event was sold out, and organizers said journalists were excluded from attending.

    Musk appeared at the Miami summit via videoconference.

    Durante il fine settimana, Musk tweeted that he planned to do his own analysis of Twitter’s user base by using a random sample of 100 user accounts.








    He said that he was then contacted by Twitter’s legal department and accused of breaking their non-disclosure agreement by publicly sharing the company’s methodology.

    Agrawal, in response to Musk’s agitation, said on Monday that Twitter manually checks thousands of accounts every quarter to determine how many should be counted as spam.

    Agrawal said Twitter ‘shared an overview of the estimation process with Elon a week ago.

    He tweeted that spam ‘harms the experience for real people on Twitterand that the company is ‘strongly incentivized to detect and remove as much spam as we possibly can, every single day.

    ‘Anyone who suggests otherwise is just wrong,’ Agrawal tweeted.

    Musk replied to the CEO’s tweet thread by first asking why Twitter doesn’t just call users to verify their identityand then by posting a poop emoji.

    Analyst Dan Ives said that the changing stock market and the challenge of financing the deal, ‘has caused Musk to get cold feetand that the issue of bots is ‘likely more of a scapegoat to push for a lower price.

    Ives argued that no one else is likely to match Musk’s deal, and Musk knows it

    ‘The elephant in the room for the Twitter board is Musk can walk away for a $1 billion as a small breakup fee (for Musk-all relative) and likely cite the bot/fake account issue as the reason, even though this likely would be contested by Twitter in the courts,’ Egli ha detto, secondo Il New York Post.