Image caption: Detective. Photo: Jim Watson/AFP via Getty Images
forever It’s been weeks since Elon Musk reached an agreement to buy Twitter for $44 billion. The deal has yet to close — it was always expected to take a few months, which is normal — and on Monday, Twitter revealed that it was threatening to blow up the entire deal. Or at least pretend to be keen to get it at a lower price, given that tech stocks have been on a steady decline since the terms were signed.
As you can see, the richest man in the world is interested in robotics. Musk has positioned himself as something like Harrison Ford Blade Runner, to kill copies disguised as real people. Click replies to any particular Musk tweet and you’ll likely get a good understanding of why he wants to do so. There are usually hundreds, if not thousands, of responses and tweets from users that don’t appear to be real, including scams from accounts claiming to be a fraudulent cryptocurrency mogul. The truth is that bots are a problem for social media and it has been a problem for a while. It’s a complex problem compounded by the free speech rights of those who own these robots — ironically, Musk vows Defense.
The message revealed by Twitter today will be familiar to anyone masochistic enough to get alerts every time the Tesla CEO tweets, especially from his claim about a month ago that the deal was “I’m waiting“Until find out what the hell is going on. According to the recording, Musk and Twitter have been going back and forth about this whole robot thing for about a month.
Are bots a bigger problem than how they appear in Twitter’s stock filings? Yes, of course. Parag Agarwal, the current and presumably outgoing CEO, has addressed this matter before. “We suspend more than half a million accounts spam every day, usually before any of you see them on Twitter,” he said He said In a thread explaining how hard it is for a company to fight bots. But the thing is, yes, Musk is probably right that there are more bots than the company reveals. Right now, the company says that less than 5 percent of monetized daily active users are bots, which is…a very special metric, isn’t it? Twitter says it’s a metric that “is not based on any standard industry methodology” but generally reflects who logs in each day and who can make money through ads. There are 229 million users who fall into this group as of the end of the last quarter, which means there could be millions more who are part of another lower earnings category that they’re signed into.
Musk’s latest letter marks a slightly new phase in his argument that this deal is not what he thought. Previously, he complained that there were more robots than meets the eye. Now he says the company is withholding information for him to make that decision himself — data that he says he is entitled to as the company’s next owner even though he missed his chance to do this due diligence before committing to the deal. This is, he said, a “clear material breach” of the deal.
But his argument here is a bit twisted. Twitter appears to argue that it is only obligated to provide information that has a “very specific purpose: to facilitate the closing of a deal.” Musk argues that he has the right to “any reasonable business purpose related to the completion of the transaction.” Is there a difference between ‘closing’ and ‘completion’ of a deal? Musk seems to keep arguing that without this information, he wouldn’t be able to secure funding to actually take over the company (although he didn’t seem to have any trouble with that before).
The point is, Musk is trying to wriggle out of the deal, and his post is trying to prove that Twitter is the bad guy here. And yes, the Twitter board is probably screwing up the screws in a way that’s not so warm and friendly. Musk closed at $54.20 per share — about 39 percent more than the company’s trading floor — in a market that is quite pitiful for tech companies right now. It may be years before the stock price goes up again. Not coincidentally, the board appears to have shaken off any qualms it might have felt about Musk buying the company back when the stock market and economy were doing better. Board members are starting to look like geniuses to take that money – so why would they do anything to give Musk a chance? to Musk, “Hey, you have a spam issue By your own acceptance It can make your product go bad, and I want to know the extent of this problem” Not exactly unreasonable.
The truth is that for Musk, the problem isn’t robots – it’s humans. Specifically, the people sitting on the board of directors of the company he committed to buying, and who would do everything in their power to force him into the deal. Who knows how it will turn out, but I would like to imagine how the judge charged with overseeing the breakup of this deal might react to it. The judge may ask why are we asking these questions now? Mask is familiar with what Twitter is. He’s known about robots ever since before he planned to take over the company. He said he doesn’t care about the “economics” of the deal, after all. But for all the hype that’s been released about Musk being a new kind of corporate attacker, Twitter seems to be the one playing hardball here. The board members probably feel comfortable doing this because they know they can do just about anything and still look like the good guys compared to Musk.