Musk Backs Out Of Twitter Deal

This has seemed imminent for a while. I know many were looking forward to the purchase.Twitter did state previously they would hold him to it. It may get messy.

Tech titan Elon Musk says he is backing out of his agreement to purchase social media platform Twitter for $44 billion.

The Tesla CEO said in a filing Friday afternoon that he believed Twitter was in material breach of multiple provisions of the April 25 sale agreement — including Musk’s request that the company share information about the number of fake and spam accounts on the social media platform.

NBC






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a reply to: frogs453

If Twitter isn't willing to disclose ALL of the requested information about their company before the final purchase, I don't see how Musk can be forced to honor the preliminary contract. It appears a large portion of Twitter may just be fake...

originally posted by: frogs453
This has seemed imminent for a while. I know many were looking forward to the purchase.Twitter did state previously they would hold him to it. It may get messy.

Tech titan Elon Musk says he is backing out of his agreement to purchase social media platform Twitter for $44 billion.

The Tesla CEO said in a filing Friday afternoon that he believed Twitter was in material breach of multiple provisions of the April 25 sale agreement — including Musk’s request that the company share information about the number of fake and spam accounts on the social media platform.

NBC

the quote is quoted for a reason, think about the influence one could have spamming Twitter with their agenda and platforms making them seem more urgent than other issues. ie they become a squeaky wheel and the squeaky wheel gets the grease.

including Musk’s request that the company share information about the number of fake and spam accounts on the social media platform.

I was really rooting for Musk to buy it

and shut down this ridiculous WOKE BULL #

This is a sad day..

Not only for America but for the world..

I can't blame him though, it is estimated to have 40-50% FAKE BOT ACCOUNTS..

He knows how worthless twitter financially is..

Here is the story from new york post has a video with it also

Tesla Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter, saying that the social media company had failed to provide information about fake accounts on the platform.

Shares of Twitter fell 6% in extended trading.

In a filing, Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company’s business performance.

In the Friday regulatory filing, Musk said Twitter “is in material breach of multiple provisions of that agreement” and appears to have made “false and misleading representations” when entering into the agreement.

MUSK BACKS OUT OF TWITTER

Interesting. A part of me isn't really all that surprised. I got the feeling that Musk was having cold feet weeks ago. I think he realized what he initially agreed to and thought "No way am I going through with this." Just cold feet. And I don't think Musk is the type of guy who gives a crap what others think or that he may have just crapped on a company because he changed his mind. After all, Musk is just another narcisstic billionaire.

originally posted by: nugget1
a reply to: frogs453

If Twitter isn't willing to disclose ALL of the requested information about their company before the final purchase, I don't see how Musk can be forced to honor the preliminary contract. It appears a large portion of Twitter may just be fake...

I believe it mostly is bots.

I mean I don't really know how serious he was. He was in a really weird place when he made the offer. He was non stop tweeting almost 24 hours a day, really random stuff. Seemed similar to Kanye West during his manic phases.

So Musk is out a billion dollars because he felt like trolling people. I wish I had that kind of money.

And Twitter responds:

The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.

Bret Taylor Co-CEO Twitter

a reply to: frogs453

Musk outed Twitter for the sham site that they are.

lol

a reply to: DBCowboy

I mean really anyone who uses it knows bots are rampant. Super easy to spot: Namebunchofnumbers created that day or 5 years ago with no followers.

With weird middle of the night trending of certain topics. When the majority of the U.S. is asleep.

Back a few months ago, just getting into Musk's positioning, Steve Bannon predicted this exact scenario, leading to the devaluing of Twitter.

The fallout could be interesting.

a reply to: incoserv

It's going to be a bumpy ride for sure. With both doubling down.

Musk is basically saying the platform is 45% fake news engineered to make the 45% consumer drones look more credible when they pop off because fabricated outrage and memeology for the politically illiterate. He's better served just reinventing the wheel instead of buying the original with all the widgets and browser history and malware still attached.

(cross posted)

originally posted by: frogs453
a reply to: DBCowboy

I mean really anyone who uses it knows bots are rampant. Super easy to spot: Namebunchofnumbers created that day or 5 years ago with no followers.

With weird middle of the night trending of certain topics. When the majority of the U.S. is asleep.

From a mathmatical viewpoint it would be interesting to see ow effective bots are at trending items.

a reply to: DBCowboy

It would. Maybe a court case will be interesting.

a reply to: frogs453

It makes me wonder if a company or political party can purchase bots for the sole purpose of promoting an idea or product.

a reply to: DBCowboy

On their own? Not particularly effective..

Working in unison with governments, other corporations, and things like media? Based on engagement metrics, data harvesting, and algorithms? The efficacy is staggering...

Buying twitter also means jumping head first into this manipulation machine, which extends far beyond twitter itself. I have to imagine Musk knew this, but perhaps he encountered some conflicts he wasnt entirely willing to face even with the preparations he has made. Or it could be that he really didnt know the extent of twitters shenanigans. Or it could be that his goal was always to expose whats going on there.

Surely he knows it wont matter that he simply exposes it though. Thats like pointing out discrepancies and contradictions in religious texts; it doesnt matter one bit. Faith is a funny thing, even moreso when adherents arent aware they are operating on it.

He has been clear that he was preparing for some kind of conflict for a while now. I have my doubts about his intentions.. but much like Trump, having a high profile figure fighting against this Cult Machine can be a very good thing.

a reply to: DBCowboy

I'm certain both do use them.

originally posted by: Xcalibur254
So Musk is out a billion dollars because he felt like trolling people. I wish I had that kind of money.

Depends. If its true that half of Twitter accounts are fake, then Twitter has MUCH bigger problems then completing this buyout. Like, how do they avoid getting sued into the dumpster of history by the advertisers they scammed with their phony subscriber numbers?