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BREAKING: Elon Musk's Twitter deal 'temporarily on hold'


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The Post Millennial

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk wrote.

Libby Emmons Brooklyn, NY

May 13, 2022

Elon Musk shared a tweet on Friday morning saying that his $44 billion deal to buy Twitter is on hold temporarily, linking to a Reuters article stating that by Twitter's estimates, fake accounts on the platform "comprise less than 5% of users." This per an SEC filing.

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Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users
 
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"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk wrote.

Musk "seeks more details," Axios reports, noting as well as that Twitter shares fell more than 17 percent in pre-market trading, while Telsa stock, the EV company Musk founded and operates, rose nearly 5 percent.

This is only one day after Twitter's current CEO, Parag Agrawal, parted ways with two top executives at the social media company, and well after the Board and Musk came to a deal on the price of the buyout, $44 billion. Musk has already secured capital and additional investors for the takeover.

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In that filing, Twitter said the company faces "several risks" until the deal closes, as the company faces the difficult and dicey time during an acquisition process where deals can go south as all the company's cards are laid on the table.

One of those concerns is if Twitter will be able to retain advertising dollars, and the additional "potential uncertainty regarding our future plans and strategy."

This is a breaking story and will be updated.

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June 16 2022

EXCLUSIVE: Leaked Video of Elon Musk’s Address to Twitter Employees About ‘Essential’ Nature of Free Speech, Voting Republican, and ‘Evolving’ Twitter

• Project Veritas has published the recording of an internal Twitter company-wide meeting wherein Elon Musk addressed thousands of Twitter employees and answered questions moderated by Twitter CMO, Leslie Berland.

• “I think it's essential to have free speech,” Musk said on the call after describing his affinity for Twitter. He added that “multiple opinions” should exist on Twitter to “make sure that we’re not sort of driving a narrative.”

• On the call, Musk was asked about his political leanings, his plans for layoffs and the direction of the company.

• Musk described his political views as “moderate” noting that he traditionally has voted democrat but voted republican this week for the first time in his life, voting for Congressional Candidate Mayra Flores in Florida. He said he believes most of the world favors moderate politics but that the far left and right should be able to voice their frustrations on Twitter.

• Musk also discussed his vision for Twitter saying that traditional news media is “negative” and that they “almost never” get it right. He added that bots, spam and multi-account users must be contained. “I think an important goal for Twitter would be to try to include as, as much of the country, as much of the world as possible,” Musk added.

• Musk notes that he’s “not hung up on titles,” but he certainly wants to be the one driving the product change at Twitter.

• Musk reacted to the news of Project Veritas publishing the recorded meeting on Twitter, by posting “Exactly.”

(Snip)

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