Twitter finally responded to Elon Musk with data on how many bots are included in the company’s daily activities. They reportedly gave him everything.
Elon Musk uncovered a material breach in Twitter’s financial reporting to the SEC a few weeks ago. While Twitter has been reporting that only 5% of its accounts were bots, the real number may be 20% or higher. This was horrible news for the far-left social media giant.
Twitter has been filing quarterly reports for years that say that only 5% of its accounts were bots. But the number, in reality, may be much higher. If this is the case, it means Twitter has been lying in its financials and could be downgraded and ripe for lawsuits.
When companies provide their numbers to the SEC they are to be accurate. Any discrepancies will have to be reported and adjusted for in current and prior periods. This is a really big deal.
Musk claims that he based his bid on the financials filed with the SEC.
20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher.
My offer was based on Twitter’s SEC filings being accurate.
Yesterday, Twitter’s CEO publicly refused to show proof of <5%.
This deal cannot move forward until he does.
— Elon Musk (@elonmusk) May 17, 2022
We reported on this on May 17 when this was first known.
Yesterday the social media giant gave Musk access to its entire “firehose” of data.
Elon Musk’s latest objection to the $44 billion deal he signed to buy Twitter is that the company hasn’t provided enough information. That, Musk’s lawyers allege, has made it impossible for him to get a loan—one of the few conditions that would allow the Tesla and SpaceX CEO to get out of the deal.
Except that argument likely won’t work. On June 8, Twitter gave Musk access to its entire “firehose,” a stream of tweets and metadata about them that encompasses the 500 million tweets per day, according to The Washington Post.
Musk replied to some tweets on this today.
— Trung Phan (@TrungTPhan) June 8, 2022
Musk responded that this amount of data wasn’t that big and could be placed on a flash drive:
— Trung Phan (@TrungTPhan) June 9, 2022
So let’s see what the data experts surrounding Musk can find in this data.