Tesla and SpaceX’s owner Elon Musk gave a hint that he could ask for Twitter. Musk states that there could be at least four times more fake accounts than the company told. “You can’t pay the same price for something that is much worse than they claimed,” billionaire Musk said at a conference in Miami.
Musk, who announced on Friday that his $44 billion plan to purchase Twitter was on hold seeking information on spam accounts, believes they account for at least 20% of users, contrary to Twitter’s official estimates of 5%.
When asked if the Twitter transaction is still conceivable at a different price, Musk replied, “I mean, it’s not out of the question.” “The more questions I ask, the more concerned I am,” he stated at the All-In Summit 2022.
“They claim that they’ve got this complex methodology that only they can understand … It can’t be some deep mystery that is, like, more complex than the human soul or something like that.”
Just after Musk’s comment about Twitter went public, the Twitter shares dropped down by 8% drastically. As per the market indices, the Twitter price at closing was $37.39, far lower than when Elon revealed the Twitter acquisitions.
Twitter CEO Parag Agrawal, earlier on Monday, stated that internal estimates of spam accounts on the social media network for the previous four quarters were “far under 5%” in response to Musk’s criticism of the company’s treatment of false accounts.
He noted that Twitter’s estimate, which has been constant since 2013, could not be replicated outside due to the necessity to utilize public and private information to evaluate if an account is spam.
Musk used a feces emoji to react to Agrawal’s justification of the company’s procedures.
“So, how can advertisers know exactly what they’re getting for their money? This is critical to Twitter’s financial stability, “Musk penned in a letter.
According to independent analysts, anything from 9% to 15% of the millions of Twitter profiles are bots.