Elon Musk says it will lower Twitter prices due to the large number of spam accounts

Elon Musk suggested lowering Twitter prices on Monday, saying there could be at least four times more fake accounts than the company says.

“You can’t pay the same price for something much worse than they claimed,” he said at a meeting in Miami.

Musk said his $ 44 billion (approximately Rs. 3,41,910 chlore) transaction to buy Twitter on Friday withheld information about spam accounts, they compared to Twitter’s official estimates. 5% said they suspect that they make up at least 20% of users.

When asked at the conference if a Twitter deal could be run at a different price, Musk replied, “That’s not out of the question.”

“The more questions I ask, the greater my concern,” he said at the All-in-Summit 2022 conference.

“They claim to have this complex methodology that only they can understand … it cannot be some deep mystery, more complex than the human soul or something like that. . “

Following Musk’s comments, Twitter expanded its losses in late-afternoon trading.

Shares fell more than 8% to close at $ 37.39, lower than the day before Musk announced Twitter shares in early April, a price agreed by billionaire entrepreneurs. ..

Twitter CEO Parag Agrawal tweeted that internal estimates of spam accounts on social media platforms for the past four quarters were “well below 5%,” criticizing Mask’s handling of fake accounts. Responded to every day.

He added that Twitter’s quote, which has remained the same since 2013, could not be externally reproduced because both public and personal information must be used to determine if the account is spam. rice field.

Musk responded to Agrawal’s defense of the company’s methodology with the Pile of Poo emblem.

“So how do advertisers know what they’re getting from their money? That’s the basis of Twitter’s financial position,” Musk wrote.

Musk opposes decisions such as overly aggressively banning former President Donald Trump while promising to change Twitter content moderation practices and crack down on “spambots” on the platform. There is.

Musk requested a random sample test of Twitter users to identify the bot. “It can be more than 90% of the daily active users,” he said.

Independent researchers estimate that 9% to 15% of millions of Twitter profiles are bots.

Twitter does not currently require users to register using their real ID, and explicitly allows automated parody and pseudonym profiles on the service.

The company has determined that the purpose is to “deceive and manipulate others” by banning spoofing and spam, engaging in fraud, coordinating abuse campaigns, and artificially increasing involvement. If so, you will be penalized for your account.

Mask’s comments to an individual audience could raise concerns about his disclosure of information that drives the market.

Known for his candid Twitter posts, Mask has a long history of skirmishes with the US Securities and Exchange Commission. Recently, a U.S. judge has accused him of trying to escape a settlement with the SEC demanding surveillance of Tesla’s tweets.

© Thomson Reuters 2022 Elon Musk says it will lower Twitter prices due to the large number of spam accounts

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