Twitter has twice as many bogus accounts than the firm reports, according to Elon Musk. The CEO of Tesla and SpaceX claimed in a legal document that more than 10% of active, monetizable users on the site aren’t actual people. They are spam accounts or bots. The social network has long said that these accounts make up fewer than 5% of its user base of active users.
Ten percent of Twitter users, according to Elon Musk, are fake. In response to Twitter’s complaint, Musk filed a formal response asking the court to issue an order ordering him to complete the proposed acquisition of the firm. In April, the billionaire decided to pay $44 billion to purchase the microblogging platform. But not long after the agreement was made public, he began to voice concerns about phony accounts. Musk said that Twitter is deceptively claiming its active users, something it has been caught doing in the past as well.
A protracted public argument occurred, during which Musk threatened to walk away from the agreement if Twitter didn’t reveal more details about how it counts phony accounts. He had access to some internal tools thanks to the social network, but the results weren’t good. In the end, Musk declared that the deal is off because the business withheld information.
Advertisement As anticipated, Twitter resisted his attempts to withdraw and sued him. The business said that Musk is pulling out of the planned acquisition due to stock market volatility that followed the announcement of the agreement. The social network claimed that there is no reason to be concerned about fraudulent accounts. Additionally, a Twitter investor joined the company to oppose the company’s largest shareholder and potential new owner.
Musk filed a countersuit in response to Twitter’s lawsuit. For nearly a week, it was kept a secret. But thanks to The New York Times , we now know what the Tesla CEO said in response. Along with asserting that Twitter has more than ten percent bots, Musk also said that not all of its monetizable active users receive ads from the firm. In the first three months of this year, nearly 30% of its 229 million active users did not see any adverts. According to the counter filing, Musk was duped by Twitter into agreeing to purchase the firm at an inflated price by concealing these facts.
Twitter has made a comeback. Musk’s counter-suit was quickly followed by another legal filing from Twitter. The business stated that Musk’s method for calculating the percentage of phony accounts on the site was incorrect. It makes reference to Botometer, a program that once determined that his Twitter account was very likely a bot as well.
Advertisement According to Twitter’s board chairman Bret Taylor, his arguments are legally deficient, factually incorrect, and irrelevant from a business standpoint. This year’s Twitter v. Elon Musk trial will start with a hurried trial on October 17. But a protracted court struggle may be in store for us. Who succeeds will be determined in due time.