{"id":22210,"date":"2022-05-13T13:13:37","date_gmt":"2022-05-13T17:13:37","guid":{"rendered":"https:\/\/autosector.com\/?p=22210"},"modified":"2022-05-13T13:13:37","modified_gmt":"2022-05-13T17:13:37","slug":"elon-musk-put-twitter-deal-hold-fake-accounts-cold0feet","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=22210","title":{"rendered":"Elon Musk put Twitter deal on hold until it proves less than 5% of accounts are fake \u2013 is he getting cold feet?"},"content":{"rendered":"

Elon Musk announced that he is putting the Twitter acquisition deal on hold until the social media platform can prove less than 5% of its accounts are fake or spam. Is the Tesla CEO getting cold feet on the deal?<\/p>\n

Now that Twitter\u2019s board has approved Musk\u2019s offer to buy the company and take it private, it looked like a done deal, pending working through some details and bringing the proposition to a shareholder vote. But during an interview earlier this week, Musk started to talk more tentatively about the deal and wouldn\u2019t share his level of confidence in it actually going through.<\/p>\n

Now he went a step further and announced that the deal is \u201con hold\u201d following a report from Twitter about the number of spam and fake accounts on the platform:<\/p>\n

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Twitter deal temporarily on hold pending details supporting calculation that spam\/fake accounts do indeed represent less than 5% of usershttps:\/\/t.co\/Y2t0QMuuyn<\/a><\/p>\n

\u2014 Elon Musk (@elonmusk) May 13, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n<\/figure>\n

The Tesla CEO said that he is still \u201ccommitted to the acquisition,\u201d but it is \u201ctemporarily on hold\u201d:<\/p>\n

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\u201cTwitter deal temporarily on hold pending details supporting calculation that spam\/fake accounts do indeed represent less than 5% of users.\u201d<\/p>\n<\/blockquote>\n

In a new filing this week, Twitter said that it estimates that 5% of its 229 million active users are spam or fake accounts.<\/p>\n

Part of Musk\u2019s plan for Twitter is doubling the effort to remove spam from the platform by either making them financially unviable and\/or by authenticating all real users and prioritizing replies over those from unauthenticated users.<\/p>\n

As part of the acquisition agreement, if either party, Musk or Twitter, fails to complete the deal, that party will have to pay the other a $1 billion fee.<\/p>\n

Yesterday, we reported on Musk looking to finance the Twitter acquisition without loans backed by Tesla shares<\/a> as Tesla\u2019s stock price fell.<\/p>\n

Is Musk getting cold feet and wants a way out? Let us know what you think in the comments section?<\/p>\n

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