The Internet was turned upside down when Elon Musk made a deal to buy Twitter. But we learned recently that the history-making sale was put on hold.
It appears the billionaire innovator grew concerned over statistics the company was providing. They didn’t seem to stand up to his scrutiny. So, he is making a major demand… if the deal is to go through.
From Fox Business:
Tesla CEO Elon Musk set a key condition for his pending $44 billion purchase of Twitter to go through: transparency on the number of fake or spam accounts…
“Yesterday, Twitter’s CEO publicly refused to show proof of <5%,” the Tesla CEO added. “This deal cannot move forward until he does.”
This is pretty interesting. Musk wants proof that there are less than 5% spam/fake accounts on Twitter. If the current CEO cannot prove that stat, the deal will not happen.
Musk suggested that fake accounts could be as high as 20% of Twitter users. He fears it might be “much higher.”
If that is true, then Twitter is more useless than many think. Many users dumped the site in recent years, over allegations of censorship.
Could it be that Twitter made up for that loss of customers, by allowing fake accounts to flourish?
Fake accounts are any accounts run by software (“bots”) that exist only to spam real users with ads and links to malicious websites.
All social networks are plagued by these accounts. But sites like Facebook, YouTube, and Instagram have managed to improve their systems, weeding out as many bots as possible.
But Twitter has appeared reluctant to be as aggressive in getting rid of these accounts. It’s possible the real user base is much smaller than they told Musk.
Why should that be Musk’s concern? He wants to make Twitter successful by protecting free speech. And he has an ambitious goal of increasing the user base in the next few years.
But if Twitter is overwhelmingly run by spam accounts, it will all be for nothing.
We don’t know how many spam accounts are on the site. But Twitter would be wise to fix this problem now.
Because if this deal falls through, they might lose more than they think.
- Elon Musk is demanding Twitter prove how many fake accounts are on its site.
- Musk is pausing the sale, pending proof bots are only 5% or less.
- It appears Musk worries fake accounts are 20% or more of the user base.
Source: Fox Business