Cortney Weil
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We’ve long suspected that many Twitter “users” are actually bot or spam accounts, and we may soon find out just how many there are. Elon Musk, who wants to buy Twitter, has put the deal on hold once again until he gets some answers.
According to the latest drama to unfold from Musk’s totally real, non-bot Twitter account, the 20% bot estimate may be much too low:
20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher.
My offer was based on Twitter’s SEC filings being accurate.
Yesterday, Twitter’s CEO publicly refused to show proof of <5%.
This deal cannot move forward until he does.
— Elon Musk (@elonmusk) May 17, 2022
Look, Musk is no fool, and he’s already said he’s “still committed” to purchasing Twitter. He’s even offered $54.20 per share, well over fair market value. So he clearly doesn’t mind overpaying to close the deal. He just doesn’t want to overpay when a substantial number of Twitter accounts may not even be human beings.
Teslarati notes that if Musk backs out of the deal, he will be required to pay Twitter a $1 billion termination fee and could be subjected to additional litigation, per Fox Business.
