Elon Musk may be eccentric, but that certainly doesn’t mean that he’s dumb.
The Tesla CEO has been on a mission to purchase social media platform Twitter for nearly a month now, but has run into a problem that has the platform between a rock and a hard place in the public eye: Fake accounts.
Musk says that Twitter has been disingenuous about the number of bots and spam accounts that exist in their network, and Twitter, for whatever reason they may have, has been unwilling to publicly refute this assertion.
Now Twitter is being hit with a serious ultimatum: Reveal the extent to which they’ve been hiding their phony user problem and take a massive economic hit, or lose the Musk deal and also take a massive economic hit.
Elon Musk is threatening to walk away from his $44 billion bid to buy Twitter, accusing the company of refusing to give him information about its spam bot and fake accounts.Trending:
Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday, and Twitter disclosed it in a filing with the U.S. Securities and Exchange Commission.
The letter says Musk has repeatedly asked for the information since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.
The disparity between the two estimates is astounding.
Twitter CEO Parag Agrawal has said that Twitter has consistently estimated that fewer than 5% of its accounts are fake. But Musk has disputed that, contending in a May tweet that 20% or more are bogus.
Worse still, if Twitter does sell to Musk they face an extreme liberal backlash, as the eccentric billionaire has promised to push for a more First Amendment-friendly way of operating: Something that has Democrats concerned about a conservative awakening on the network.