Everyone has been watching the Twitter buyout unfold, but the whole process recently got put on hold because Elon Musk is concerned about the actual number of bots on the social media platform.
The original agreement was for Elon Musk to purchase Twitter at $44 billion. But less than two weeks ago, Musk made it clear that he's skeptical of the real number of spam accounts on the platform. He did say, though, that he's "still committed to acquisition." Twitter claims that less than 5% of users are bots, but it doesn't seem like Musk is believing that statistic.
Elon Musk Suggests Cutting the Cost of the Twitter Acquisition Deal by 25%
On Saturday, Musk tweeted at an account called Whole Mars Catalog, who pointed out that "Twitter has made it way harder to report spam." The result is that far fewer people feel inclined to bring spam to Twitter's attention. Musk responded, "I'm worried that Twitter has a disincentive to reduce spam, as it reduces perceived daily users."
Musk also said that Twitter hasn't gotten back to him on how many real active users there are on the website. "They still refuse to explain how they calculate that 5% of daily users are fake/spam! Very suspicious," he said.
Conservative commentator Ian Miles Cheong replied to Musk, "If 25% of the users are bots then the Twitter acquisition deal should cost 25% less."
"Absolutely," the tech mogul agreed.
Musk has previously criticized Twitter's CEO Parag Agrawal for not showing proof that less than 5% of the accounts are bots. The deal won't move forward unless Twitter agrees to uncover the true number of spam accounts. If either side backs out of the deal, they will have to pay the other $1 billion in a termination fee.