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(Bloomberg) — Elon Musk has fueled the hypothesis that he would possibly try to renegotiate his acquisition of Twitter Inc. , saying a viable deal at a lower price would not be “out of the question. “
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Twitter’s stock fell 8. 2% at the close of trading in New York. Stocks fell due to the hypothesis that Musk is giving up on the $44 billion acquisition. accounts on their social media service.
Musk put more emphasis on this front monday at a technical convention in Miami, estimating that fake users account for at least 20% of all Twitter accounts. That’s the reverse of his estimate of the number of bots on the network, and he asked rhetorically if he can succeed by 90 percent, according to a live video of his comments posted through a Twitter user.
“Right now, what I’m being told is that there’s just no way to know how many bots there are,” Musk said at the conference. “It’s as unknowable as the human soul. “
Twitter declined to comment. The San Francisco-based company reports quarterly that spam accounts for less than 5% of the total number of users.
Musk, chief executive of Tesla Inc. and SpaceX, said last week that his Twitter takeover bid was “temporarily suspended” pending the main points about the amount of spam and fake accounts on the platform. Over the weekend, he tweeted that he planned to do his own research of Twitter’s user base, a random pattern of a hundred user accounts. Soon after, Musk claimed that Twitter’s legal team called to complain about violating its confidentiality agreement by publicly sharing the company’s methodology.
Twitter CEO Parag Agrawal questioned this on Monday in a tweet thread that featured more important points about the company’s technique for spam accounts. Agrawal said Twitter manually checks thousands of accounts each quarter to determine how many deserve to be counted as spam, but added that the procedure cannot be carried out externally due to user privacy issues.
Agrawal said Twitter “shared a review of the estimation procedure with Elon a week ago. “Musk responded to the THREAD OF THE CEO’S tweet by first asking why Twitter doesn’t just call users to determine their identity and then posting a poop emoji.
Read more: Twitter erases everything since Musk revealed his involvement
Musk spoke at a convention hosted through a podcast called “All-In” led by Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg. The $7,500 corresponding to the user’s event sold out and organizers said hounds could not attend. Musk made the impression at the Miami summit through the video convention.
The 50-year-old billionaire bought Twitter shares in January and revealed a 9. 2% stake in the company on April 4. Twitter’s board accepted Musk’s $44 billion offer to buy the company and take it personally on April 25, but the deal lasts for months. away from the close, and Twitter shares are trading well below the offer price.
The difference between Musk’s $54. 20 offer and Twitter’s price continues to widen, erasing any gains the stock has made since Elon Musk revealed his stake in the social media platform.
QuickTake: Why Elon Musk and Twitter CEO are on bots
(Update the percentage value in the paragraph for now; add a comment from Musk, data on bots. )
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