Uh-Oh: Elon Musk's Lawyers are Threatening to Terminate Merger Over Fake Accounts
There's more drama over Elon Musk purchasing Twitter. Only instead of Musk tweeting about it, he's got his lawyers involved. That makes it serious this time unless his lawyers are edgelords, as well.
Musk is accusing the company of “resisting and thwarting” his attempt to get information on how many Twitter accounts are spam or fake accounts. He claims that Twitter keeping the information from him is a breach of their deal.
Per a letter sent to Twitter's lawyers on Monday: “Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement."
The issue dates back to last month when Musk announced, via Twitter, that the deal was on hold pending a full review of fake accounts. Musk made an offer based on a certain number of Twitter users. If half of them are fake and the company gave Musk inaccurate information while making his offer, it drastically reduces the value of the company. Twitter accused Musk of breaking their non-disclosure agreement by saying so out loud.
Since then, an independent report was released saying that half of Joe Biden's followers were fake. Another report said the same about 25% of Musk's followers. 70% of Musk’s followers hadn't tweeted in three months.
Fake users plus inactive users cause the value of the company to be grossly overestimated and causes it to have an inflated influence on society. It's the least used social media app, yet seems more popular than it is due to the three most vapid groups in America swearing by it: celebrities, politicians, and journalists.
Where the deal goes from here, how many fake accounts there are, and whether or not this is just a ploy for a better deal due to the stock market downturn is anybody's guess. Tune into Elon Musk's Twitter account for the latest.
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Elon Musk Has Twitter by the Balls! Can He Actually Change It? | Louder With Crowderyoutu.be
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