May 19, 2022

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Elon Musk says Twitter deal is 'on hold' after spam/fake reporting

Elon Musk says Twitter deal is ‘on hold’ after spam/fake reporting

Elon Musk says his deal to buy Twitter is “temporarily on hold” after the social network reported that fake or spam accounts make up less than 5 percent of its 226 million daily active users. Tesla CEO, who offered to buy Twitter For $44 billionTweet a link for May 2nd Reuters Report On his Twitter profile, he said he wanted to see the company’s accounts.

“Twitter deal is temporarily on hold pending account support details that spam/fake accounts already account for less than 5% of users,” Musk wrote on Twitter.

As of this writing, Twitter’s stock price is down 19 percent on the news, while Tesla’s is up 5 percent.

Below is the relevant section of the Twitter profile. He points out that his calculations about the number of miscalculations or spam is an “estimate”, and that the true number “could be higher than we estimated”:

We conducted an internal audit of a sample of accounts and estimate that the average miscalculations or spam during the first quarter of 2022 represented less than 5% of our MDAU during that quarter. False or spam accounts for a period are the average of bogus or spam accounts in the samples during each monthly analysis period during a quarter. In making this decision, we have applied important judgments, so our estimate of wrong or spam accounts may not accurately represent the actual number of such accounts, and the actual number of wrong or unwanted accounts could be higher than we estimated.

Twitter has had math problems in the past. A few weeks ago, she said in her earnings report that she did so Exceeding the number of daily users for three consecutive years. The company said that a technical error led to it counting several accounts as active, even though they are linked to one user, and this led to an error in calculating the number of its users by up to 1.9 million each quarter.

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Musk has made reducing the amount of “spam and fraud” and “bot armies” on Twitter an essential part of his His plan to improve the servicealong with prioritizing freedom of expression, and open source platform ranking algorithms.

The suspension of the deal represents the latest speed bump in Musk’s bid to take control of the social network. The company initially announced the so-called “poison pill“To prevent the acquisition, before finally accepting the acquisition in late April.