Elon Musk still doesn’t own Twitter. He made his $44 billion offer, started looking for ways to get that money (although he has a fortune of over $200 billion, he doesn’t have it in the bank, he has it invested, so he would have to sell some Tesla stock and get some loans to get his hands on the money), and now he says the deal is “temporarily suspended”.
That’s been due to Twitter reporting that fake or spam accounts accounted for less than 5 percent of its 226 million monetizable daily active users.
Elon has posted a link to a May 2 Reuters report on Twitter’s filing, a report that shows some numbers they will have to detail. In the Tweet, Elon Musk said:
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Twitter deal is temporarily on hold pending details to back up estimate that spam/fake accounts account for less than 5% of users.
Musk wants to reduce the number of spam bots, which is key to improving the service, but it’s important to know how many accounts we’re talking about. Once he “cleans up” Twitter, he will begin to prioritize freedom of expression and open up the platform’s algorithms, as he has announced on several occasions.
Twitter has shown the estimated numbers of fake accounts, but they believe that real number could be higher, that’s why Musk has stopped the purchase intention, because he needs more accurate numbers.
This situation has caused Twitter’s stock price to plummet 19 percent, although we are already used to these stock movements every time Elon Musk says something.
A few weeks ago Twitter said it had overcounted its daily users for three years in a row because of a technical glitch, and now it looks like they have more spam than they thought. I really understand why Elon needs to clear these things up before paying soooo much money.