Tesla CEO declared he won't proceed with his $44-bn takeover of Twitter unless the social media giant can prove bots make up fewer than 5% of its users
Opening another front against Twitter CEO Parag Agrawal, Tesla CEO Elon Musk on Tuesday asked the US Securities and Exchange Commission (SEC) to probe whether Twitter's claim on the number of its user base is true.
The account, published in Twitter's proxy statement that outlines what shareholders need to know to vote on the deal, paints a picture of Musk in a rush to clinch a deal
Business Standard brings you the top headlines on Tuesday
While Musk tries his best to bring Trump back on Twitter, it is not easy for the former US President to join back the micro-blogging platform owing to the rules on his own social media platform.
Elon Musk's ties to China through his role as electric car brand Tesla's biggest shareholder could add complexity to his bid to buy Twitter.
On Friday Musk tweeted that his plan to buy Twitter was placed on temporary hold as he tried to pinpoint the number of fake accounts on the social media platform
Twitter CEO tried to dispel concerns around the presence of fake/spammy accounts in a Twitter thread, with data, facts, and context, as Musk questioned Twitter data on removing fake accounts last week
"You are being manipulated by the algorithm in ways you do not realise. Easy to switch back and forth to see the difference," Musk said in a tweet
"Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!" tweeted Musk, chief executive of electric car maker Tesla Inc.
Tech billionaire Elon Musk on Sunday said that microblogging site Twitter's algorithm might be manipulating users and also suggested a solution for that.
Taking to a social media platform on Saturday (local time), Musk said: "Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!."
It's been a messy few weeks for Twitter. One thing is certain: the turmoil will continue, inside and outside of the company
He tweeted: "To find out, my team will do a random sample of 100 followers of @twitter. I invite others to repeat the same process and see what they discover"
Agrawal said that regardless of the company's future ownership, Twitter will be improved as a product and business for customers, partners, shareholders, and all of the users
Most of the vapourisation is coming from investors abandoning Tesla. Their carp is that legal issues at Twitter might distract the maverick suitor
The company has estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users
Growth stocks such as Apple Inc, Google-owner Alphabet Inc, Amazon.com and Nvidia Corp gained between 2.2% and 6.5% after falling for most of the week.
Elon Musk says his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts
Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform. Of the two, Musk's electric vehicle company has fared worse, with its stock down almost 16% so far this week to $728. Twitter shares fell 9.5% for the week, closing Thursday at $45.08. Both stocks have taken a bigger hit than the S&P 500, which is down 4.7% for the week. Along with malaise in the broader markets, investors have had to weigh legal troubles for Musk, as well as the possibility that his acquisition of Twitter could be a distraction from running the world's most valuable automaker. The Wall Street Journal reported Wednesday that U.S. securities regulators are investigating Musk's tardy disclosure that he had bought more than 5% of Twitter shares. Musk now owns more than 9% of the San Francisco company. The SEC wouldn't comment, and a message was left for Musk's ...