Billionaire Elon Musk, who has vowed to eliminate “spambots” from Twitter, has claimed through the social network that there may be more such automated accounts than expected, rendering the purchase agreement unfeasible.
The recent turn by the world’s richest man to buy the social network was controversial and, according to some analysts, pointless, short of trying to drive down the cost of Twitter or renegotiate a deal that experts say is getting more and more expensive for the Tesla CEO.
While such heavy-handed tactics are not uncommon in corporate mergers, the way in which this happens, becoming a widely publicized topic on the same platform that Elon Musk intends to acquire, is almost unprecedented, according to the Associated Press (AP).
The Tesla founder recently pushed investors to their limit by announcing that he was temporarily putting on hold the purchase of the platform he announced for nearly $44 billion, only to later correct that information and indicate that he remains committed to acquiring it.
“This is the strategy you are trying to use as a way to avoid [do negócio] or get a lower price,” said Brian Quinn, associate professor of law at Boston College.
Musk took to Twitter on Tuesday to say that the agreement reached to buy the company cannot “move forward” unless the social network provides public evidence that less than 5% of the accounts on the platform are fake or “fake spam.”
Experts say Mux cannot unilaterally halt the deal, though that hasn’t stopped the billionaire from acting as if he could.
If he backs out of the agreement, he could be ordered to pay a $1 billion fee.
On Monday, Elon Musk bluntly and sarcastically responded to reports from the CEO of Twitter about fake accounts.
Parag Agrawal emphasized in his post that the social network blocks more than half a million “spam” accounts every day “before users even see them.”
“The most difficult problem is that many accounts that at first glance seem to be fake are actually real people. And some of the fake accounts that are actually the most dangerous and cause the most harm to our users may appear to be completely legitimate,” he added.
According to Agrawal, this is why the Twitter team cannot identify all fake profiles.
“We measure it within the company. And every quarter, we estimate that less than 5% of the quarterly monetized active users (mDAUs) are spam accounts,” he said.
However, the CEO indicated that “actual internal estimates for the past four quarters have been well below 5%.”
But Elon Musk mentioned in a tweet this Tuesday that there are “20% fake/spam accounts,” four times as many as Twitter claims.
Musk warned that the figure could be much higher and that his offer to buy was based on the accuracy of the social network’s records.
For Brian Quinn, the words of the founder of Tesla do not make sense.
“The disclosure you are asking for is the same information that the company has been filing with the SEC (U.S. Securities and Exchange Commission) for a long period of time,” he said.
Asia in red corresponds to the USA. Europe prepares for red week
After ending the worst semester since 2008, Europe should start trading in negative territory this Friday, with a loss trend spreading into the early second half of the year.
In Asia, the main indices of the continent traded in the red and registered losses for the third day in a row.
Asian markets were affected by May consumption data in the US, which recorded a decline for the first time this year. Investors are still waiting for Chinese President Xi Jinping to visit Hong Kong a year after he introduced a national security law in the region.
In China, the Shanghai Composite fell 0.2% and the Hang Seng was closed for the holiday. In Japan, Topix lost 1.3% and Nikkei lost 1.6%. Finally, in South Korea, Kospi recorded a 1% decline.
Futures for the Stoxx 600, the benchmark for Western Europe, fell 0.8%.
In major market moves, companies associated with tourism and airlines in China fell after announcing emergency fuel spending. Already, chip makers in the region, namely TSMC and Samsung, have stepped up losses at a time when Micron Technology, the largest memory chip maker in the United States, ended depreciation talks on Wall Street after lowering consumer financial outlook. reduce the cost of computers and mobile phones.
“Usually lower US consumption data leads to a drop in global demand. They affect markets dominated by exports, in particular South Korea,” explains Cui Xuehua, analyst at Meritz Securities, Bloomberg.
“Investors are also looking for clues as to whether there will be policies that will benefit Hong Kong, such as opening borders and expanding trade,” an analyst said of the Chinese president’s visit this Friday.
The government will extend the tax cut on petroleum products for the next two months, according to CNN Portugal. But fix the values and stop revisiting them every week.
The government will extend tax cuts on petroleum products in July and August to bring down the final price of fuel. CNN Portugal knows that this decision was approved this Thursday by the Council of Ministers and that it has new characteristics.
The current tax reduction applied only to the months of May and June, thus ending on June 30th. But as fuel prices remain very high, the government decided to extend the decision for another two months, thus covering July and August.
But the model is not exactly the same. The government decided to stop weekly reviews of ISP cuts, as it has done so far, and fix the cuts. Recall that the original goal was to achieve with the help of ISP the equivalent of reducing VAT from 23% to 13%. To do this, the government has launched a set of measures, which now intends to simplify.
Overall, as government sources have been able to confirm to CNN Portugal, the measures approved by the Council of Ministers will constitute a decrease of 28.2 cents per liter of diesel fuel and 32.1 cents per liter of gasoline.which is close to the current values.
According to data from the Directorate General of Energy and Geology from this Thursday, the average price of plain diesel fuel in mainland Portugal is currently 2,062 euros per litre. The average price of regular gasoline 95 is 2101 euros per liter.