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Elon Musk stops buying Twitter

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These are times of too much uncertainty on Twitter. After learning a few hours ago that the CEO of the company had fired two of the most prominent managers of the social network and that he had proposed to drastically cut economic items and expenses until the acquisition of the firm by Elon Musk was completed, now the CEO of Tesla makes a surprise announcement that shakes the foundations of the company.

Elon Musk had reached an agreement to take over Twitter for 44,000 million dollars

Elon Musk, unpredictable and controversial as always, has decided Temporarily withdraw offer to buy Twitter. The manager had reached an agreement last month to take over the company, disbursing 44,000 million dollars (42,156 million euros).

However, as indicated in a tweet on the social network itself, it is suspending the acquisition for the time being. The reason is the calculation errors that Twitter has recognized when counting the number of spam or false accounts on the social network.

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“Twitter deal temporarily suspended pending details supporting estimate that fake/spam accounts account for less than 5% of users,” Musk said in the tweet, including a Reuters article indicating the inaccurate estimate of Twitter when calculating the proportion of fake accounts on the platform.

Once again, a single tweet from Musk causes an absolute stir – as happened years ago when he tweeted his intention to sell Tesla shares and turn it into a private company – and Twitter shares fell 6% at the opening of markets .

Twitter’s Measurement Problems

But… what is the measurement problem that leads Musk to paralyze the purchase? According to Twitter has explained before the Securities Market Commission (SEC) of the United States, “there are problems when it comes to measuring the use and participation in the social network” given the number of accounts created and the company’s efforts to fight spam and bots.

According to Twitter, this type of “false” accounts would represent “less than 5% of the total”, but acknowledges that it cannot accurately specify the number and that they could be “more than estimated”.

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This has made Elon Musk doubt, especially after admitting Twitter during the presentation of results for the first quarter of the year that it had “overestimated the calculation of monetizable daily users by more than two million.”

The inaccuracies of Twitter have led the manager to paralyze the purchase offer… or perhaps they are just the excuse he needed to be noticed again and revolutionize, once again, the market.


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