Elon Musk said on Tuesday, May 17, his $44 billion offer would not move forward until Twitter shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company.
“You can’t pay the same price for something that is much worse than they claimed,” he said at at the All-In Summit 2022 conference in Miami on Monday. The stock had on Monday dropped more than 8% to close at $37.39, lower than its level the day before Musk revealed his Twitter stake in early April, sowing doubts that the billionaire entrepreneur would proceed with his acquisition at the agreed price.that internal estimates of spam accounts on the social media platform for the last four quarters were “well under 5%,” responding to days of criticism by Musk of the company’s handling of phony accounts.
Musk has pledged changes to Twitter’s content moderation practices, railing against decisions like its ban of former President Donald Trump as overly aggressive while pledging to crack down on “spam bots”. Twitter does not currently require users to register using their real identities and expressly permits automated, parody and pseudonymous profiles.
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