(PatrioticPost.com)- Elon Musk announced last week that his purchase of Twitter had been put on hold until he investigated if their claims of fewer than 5% fake/spam accounts were accurate.
Musk continues to speak out about the Twitter company’s alleged deception on the public and investors.
He compared owning Twitter to buying a termite-infested home in a previous interview.
On Tuesday, country music musician John Rich reacted to a tweet from Elon Musk, implying that Musk must have known about Twitter’s bot issue and its board and executives’ falsehoods before offering to buy the company.
“Absolutely,” said Elon Musk.
Concerns that Musk may quit the plan to buy Twitter for the agreed-upon price of $54.20 per share have caused investors to drop Twitter shares. Since the billionaire initially revealed his 9% interest in Twitter last month, the stock has lost its gains. The stock increased more than 2% to $38.54, down from $39.31 on April 1, the final trading day before Musk declared his minority stake.
Musk reiterated his belief that the Twitter acquisition “cannot move forward” until the firm can demonstrate that bots account for less than 5% of the platform’s users. Bots are computerized accounts that can be beneficial or harmful. Neither Musk nor Twitter has defined bots or phony accounts in detail.
Musk tweeted early Tuesday morning, “My offer was based on Twitter’s SEC filings being correct.” “The CEO of Twitter openly refused to offer proof of the 5%. This transaction will not be completed unless he does.”
It’s vital to note that Musk is almost certainly lying. He isn’t backing out of the contract because of spambots. He most likely agreed because of spambots. He has presented no proof that Twitter’s estimations are significantly incorrect or created in bad faith.
Twitter’s CEO, Parag Agrawal, tweeted a thread outlining how the company estimates that fake accounts account for less than 5% of its active users and how this analysis is difficult to replicate by outsiders (because they don’t know which accounts are real, and also because they don’t know which accounts Twitter counts as daily active users). It appears that Agrawal’s insightful response is essentially correct.
A feces emoji was Musk’s response.