Elon Musk puts Twitter deal on hold over fake account details

BBC ^ | 6/13/22 | BBC

[JonPreston]

Elon Musk has said his $44bn deal to buy Twitter is temporarily on hold pending further details on the number of spam and fake accounts.

The billionaire tweeted he was waiting for information "supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users" on the social media site.

[JonPreston]

Musk offered to buy at $54.20 a share, and now share price is $36.42. Musk either walks (that will cost him $1 billion) or he buys at the new valuation.

[FreedomPoster]

Twitter had a zillion bot accounts. It very well may have been significantly more than 5%.

[Guenevere]

G

[spacejunkie2001]

I called this right off the bat. I don’t think Elon ever planned to buy Twitter. All of his early tweets were completely negative about the company and he even called out all the fake box and accounts. Why would you pay top dollar for a company that’s built on a house of cards?

[SES1066]

So how much of Twitter is actually a form of a ‘Ponzi Scheme’? Given the number of accounts that seem to be ‘less than real’, is there the grounds for a SEC lawsuit against the company for ‘willful failure’ to disclose these significant facts in a publicly traded company?

[JonPreston]

I think bots are well over 5%, and I don’t see how the board of Twitter doesn’t accept a lower bid, be it from Musk or someone else.

[coloradan]

Musk certainly did get a bunch of useful admissions from various people after his takeover move.

[fruser1]

Those 5% of users (bots) are probably making over 90% of the tweets.

[JonPreston]

That too.

[rdcbn1]

Twitter has been a Left Wing fraud for many years. It was built up over time with fake accounts owned by bots controlled agents of influence The bots would be used to generate false opinions and trends which would be used by woke Leftists in government and corporate influence positions as data to present to decision makers as real data to sway opinions and force corporate officers ( many of whom were woke themselves and needed little persuading) to move their companies leftwards. ) This helps explain why US companies have moved so far left so fast - their twitter informed lower level execs are feeding them twitter manufactured demographic data and opinion tends which are false to influence the. This is also why the Left is so freaked out at the potential of takeover of twitter to a fair and unbiased source of infuencer info

[FreedomPoster]

Great comment.

[spacejunkie2001]

Wow such a good point. Their propaganda machine just fell apart at the seams. Again, I never thought Elon was legitimately going to buy Twitter. I think this whole offer circus was tied to destroying the company. It was no legitimate desire to purchase it

[9YearLurker]

Bannon’s been saying all along that Musk will either kill the deal outright or kill it and renegotiate for a lower price.

[Presbyterian Reporter]

“””Musk offered to buy at $54.20 a share, and now share price is $36.42. Musk either walks (that will cost him $1 billion) or he buys at the new valuation.”””

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Twitter’s share price closed at $45.08 on Thursday. Otherwise, I agree that the players are betting that Musk is going to walk away from the deal.

[BRL]

I wonder if his strategy was to make an offer, expose the fraud then walk away and etch Twitter then implode

[mewzilla]

Would the number of users be put out in Twitter’s 10-Ks or 10-Qs, anyone know?

[JonPreston]

It might be. He certainly wont pay what he originally bid.

[JonPreston]

I only know that Twitter claims that bots make up 5%, or less. Musk is asking for verification.

[rdcbn1]

Looking back you remember some manufactured event like a manufactured transgender controversy that generates huge volumes of coordinated fake bot manufactured foaming at the mouth tweets in favor of that transgender issue and vehemently denouncing opposing views. The fake tweets drive and influence public opinion and then real people jump on the band wagon. Suddenly an issue that nobody really cares about becomes the hot new topic of the day. Woke Marketing and PR people, many of whom know it's a media driven scam , take the date derived by fake and misleading twitter analytics to upper level management and advise that the company has to get out in front of this trend and take a position so they do not alienate that fake, non existent demographic group . Suddenly you get insular CEOs hurriedly rushed out to give inexplicable and embarrassing position statements all in for supporting the trans issue and and just as suddenly produced bizarre Gillette razor commercials about daddies buying their little girls razors so they can be be trained to shave

[pepsionice]

There’s 3 likely scenarios to play out:

1. Elon finishes the deal but at a slightly lesser number (say $48 instead of $54).

2. Elon walks away, triggering the stock to drop down to low 20’s, and around 25-percent of ‘members’ quit. Confidence in the company drops like a rock.

3. SEC steps in and starts asking questions about the fake accounts, when they knew they existed, and whole deal has to be halted while they figure out if advertisers were openly lied to, and the value of the company is a lot less.

Me personally, I’d like for Elon to drop them and trigger an exodus of participants overnight.