Fake accounts threaten Twitter buyout

 Business Insider:

Elon Musk said Tuesday his proposed $44 billion Twitter buyout can't move forward until Twitter's CEO provides proof the platform has fewer than 5% fake accounts.

"My offer was based on Twitter's SEC filings being accurate," Musk tweeted.

Musk announced Friday he was putting his Twitter deal "on hold" while assessing how the company calculates the proportion of fake accounts it harbors. In a Securities and Exchange Commission (SEC) filing, Twitter says that fewer than 5% of accounts on its platform are fake.

Musk said Tuesday: "20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher." Musk did not detail how he arrived at the 20% figure.

He added: "Yesterday, Twitter's CEO publicly refused to show proof of <5%. This deal cannot move forward until he does."

Twitter CEO Parag Agrawal on Monday posted a thread on Twitter explaining why Musk's earlier suggestion of sampling 100 random accounts to determine the proportion of fake ones wouldn't work. Musk responded to Agrawal's post with a poop emoji.

Agrawal said in his thread that Twitter's estimate of what proportion of accounts are spam was based on "multiple human reviews (in replicate) of thousands of accounts." He said Twitter's internal teams randomly sampled accounts the company considered to be "monetizable daily active users."

...

This is not just about getting a better deal.  There are ramifications for filing false information with the SEC that could lead to significant fines and other restrictions on operation.  A buyer has a right to verify the supposed assets of a company.

See, also:


'Twitter does not believe in free speech': Undercover Project Veritas recording reveals Twitter engineer saying platform censors the right but NOT the left, everyone who works there is 'commie as f**k' and they 'hate' Elon Musk

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more