London According to US newspapers, Elon Musk seems to be winning another arm wrestling match in the battle with Twitter management to gain full access to fake account numbers on the platform, attributing the information to insiders.
Musk struck a deal to buy Twitter in April, but is beginning to question the $44 million investment. percentage of fake accounts will increase from 5% to 20% informed by the board of directors.
The businessman made a legal move after publicly suggesting he might back out of the acquisition: On Monday, his lawyers sent a stern letter to the company’s legal director. Vijaya Gadde accused the platform of “actively resisting and blocking” access rights to company data and information under the deal.
Why Does Musk Care About Fake Twitter Accounts?
News about Twitter’s intention to open the data to Elon Musk surfaced this Wednesday (8) by the Washington Post. The newspaper noted: The social media company would gain access to a data stream of more than 500 million tweets posted each day.
According to the Post, this access is someone who already pays for it and is a real-time recording of tweets, devices used and From accounts that tweet.
This The New York Times also announced that the platform will allow For Musk to see the “fire hose” in daily traffic.
Fake accounts on social media platforms pose a problem for users and advertisers.
Spam bots are used to spread fake news and hate speech. And advertisers refer to user numbers provided by digital media companies to identify their investments.
Elon Musk’s argument is that if the number of users is much less than expected, the growth and profitability goals that drove him to buy Twitter will be jeopardized. The deal would have been less valuable, or not worth it.
Twitter shares are up 1.37% in the past five days, a sign that the market is bullish on buying.
No statement was made about the news on Twitter. He referred to a statement circulated only Monday after the lawyers’ letter. “Will continue to share information in collaboration with Musk to complete the transaction in accordance with the terms of the merger agreement.”
Parag Agrawal, CEO of the social network, also declined to comment. His last post on the subject came on May 16, when he posted a series of comments and tweeted a Twitter document revealing the “true facts” about the manipulation on the networks.
In the meantime, for those who want to learn more: https://t.co/3zShh9dbMjhttps://t.co/njNfHHGrZq
– Parag Agrawal (@paraga) 16 May 2022
The lack of transparency regarding fake Twitter accounts and the reach of the social network’s potential buyer raises more suspicion about an operation that could radically change the way Twitter works, as well as being huge financially.
Elon Musk is promising big changes to make the network more profitable, increasing the number of users and reducing moderation standards to allow for what he calls freedom of expression. For critics, this means allowing extreme positions and hate speech.
Read more
Press freedom at risk with Twitter owner Musk, warns journalists
Analysts interpreted the questioning of the number of fake accounts as an attempt to abandon the purchase with a legal argument that would allow Musk to avoid a $1 billion fine.
He even revealed that the purchase was temporarily suspended until the figures were confirmed, but was later withdrawn and plans are still in progress.
And he criticized Twitter’s CEO, Parag Agrawal, for blatantly refusing to “show evidence” that less than 5% of accounts are “fake/spam”.
Read more
5% or 20%? Recent moves in the ‘war’ over fake accounts between Musk and Twitter CEO
But none of this had any effect until Monday, when the lawyers’ letter was sent in a threatening tone:
“As the prospective owner of Twitter, Musk clearly has rights to the data requested to prepare for the ownership of the Twitter business and facilitate the financing of its operations.
To do both, Twitter needs to have a thorough and accurate understanding of its active user base, which is at the core of its business model.
Based on Twitter’s behavior to date, and particularly the company’s most recent correspondence, Musk believes the company is actively resisting and blocking their right to information.
This is a clear material breach of Twitter’s obligations under the merger agreement, and Musk reserves all rights arising, including the right not to complete the transaction and the right to terminate the merger agreement.”
Fake accounts on Twitter and other networks
Musk isn’t the only one keeping an eye on fake Twitter accounts. Texas Attorney General Ken Paxton announced an investigation into Twitter for allegedly failing to disclose the extent of fake accounts.
Elon Musk’s electric car company Tesla’s corporate headquarters moved to the US state last December. Another of its companies, SpaceX, has a factory and rocket launch pad in Texas. And the businessman lives in Texas.
Meanwhile, Elon Musk continues to fire up spam accounts, not just on Twitter.
On the same day that speculation about access to data was hot, he tweeted criticizing YouTube for allegedly being indifferent to spammy ads compared to what happens when someone uses offensive language.
— Elon Musk (@elonmusk) June 7, 2022
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source: Noticias
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