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Musk Threatens To End Acquisition Of Twitter Over Fake Accounts

Economy

Musk Threatens To End Acquisition Of Twitter Over Fake Accounts

For some users of Twitter, the lack of responses from those who supposedly have chosen to follow them, so they can see and react to their posts, is disappointing.

On the other hand, some accounts tend to get a high number of followers, comments, and re-Tweets, the reasons not apparent.

As technology has increased so has the ability for professionals to determine what Twitter accounts are real people, and which ones are considered BOTS – “A software application that is programmed to do certain tasks. Bots are automated, which means they run according to their instructions without a human.”

Undercover investigations and leaked information have also confirmed that human editors and algorithms have suppressed or increased the visibility of selected users.

With all the confusion, Tesla CEO Elon Musk is now threatening to end his $44 billion buyout offer of Twitter, accusing the social media company of not complying with his request for data on how many fake accounts exist on the site.

“Mr. Musk is not required to explain his rationale for requesting the data, nor submit to the new conditions the company has attempted to impose on his contractual right to the requested data,” Musk’s lawyer Mike Ringler said in a letter to Twitter Chief Legal Officer Vijaya Gadde.

“At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement,” Ringler added.

Ringler went on to say that “based on Twitter’s behavior to date,” Musk “believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement.”

“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” Ringler said.

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Musk who was successful in his $44 billion bid to buy the company and take it private last month, said his deal with Twitter “cannot move forward” until the company clarifies the number of bot accounts on the platform.

The SpaceX CEO added that his offer was based on “Twitter’s SEC filings being accurate,” and that he believes the platform could have 20 percent bots “or *much* higher.”

This announcement by the billionaire CEO of Tesla and Space X who wants to verify the true value of his proposed Twitter investment follows Musk’s reported email that he plans to cut ten percent of the jobs at his electric carmaker because he has a “super bad feeling” about the economy.

Tesla, per Musk’s mandate, will be instituting a hiring freeze across the board.

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