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Suspended the purchase of Twitter and falls in the stock market
The acquisition of the social network by Elon Musk has been postponed
Suspended the purchase of Twitter. After a series of assumptions in relation to Jack Dorsey, the managing board of Twitter and Elon Musk, they reached a juicy monetary agreement, to make the purchase of the social network a reality.
With regard to such large business transactions, anything can happen. The possibilities are further increased by having a character as volatile as Elon Musk in this negotiation.
Now he claims that the suspension of the purchase of Twitter will be temporary, but why such a sudden cancellation of the purchase of Twitter? We tell you everything in this article!
Elon Musk gives his announcement of what needs to change on Twitter
The tycoon who owns companies like SpaceX and the electric car brand Tesla is a character who can move the masses; this has always been strongly linked to Twitter.
The richest man in the world, has a constant presence on the social network. His comments can be about any topic, but his tweets mentioning the Twitter algorithm are perennial.
The confirmation of the agreement for the purchase of Twitter for 44 million dollars, brought many more complaints from the tycoon to the edge of opinion on the internet.
The Twitter problems most highlighted by Elon Musk are the censorship of full freedom of opinion, the algorithm that prevents tweets from being deleted and the great business problem that ghost accounts can mean.
Ghost accounts account for 5% of active users
As announced by the Twitter team itself, the platform has dropped from its user numbers, millions of fake accounts so far this year, and so far there is only 5%.
This 5% represents the ghost accounts hidden among daily active users, and which are monetizable. These data, Twitter itself, cannot guarantee them 100%.
They argue that they are working to find a system that can bring a more exact figure, regarding the threat that false accounts or bots that publish content without rest within the social network can mean.
Elon Musk decides to suspend the purchase of Twitter until he obtains verified data
The inferences in the Twitter purchase treaty have been seen as prominent news in recent weeks. On this occasion, it comes because of the issue of bots or ghost accounts.
Which represent a problem that prevents a good business model by Elon Musk (Or so he ruled last week in a tweet ).
The tycoon tweeted that the purchase of Twitter is temporarily suspended, until the company offers proof that only 5% of monetized accounts are bots.
Since it implies that if the number of this group of fake users is so high, the social network loses considerable value.
Twitter shares fall 25% on Wall Street
After this message shared by Elon Musk, Twitter shares plummeted by a total of 25% less than their previous value, a major blow to the company on the Wall Street stock market.
In the case of Tesla shares, its situation is completely different, since it has provided green numbers since Musk announced his decision to suspend the purchase of Twitter.
During this negotiation, the prices of both companies have been on a roller coaster. This is when we say that anything can happen in these agreements. For the benefit of one or the other.
What happens if Elon Musk cancels the purchase of Twitter entirely?
What will happen if the tycoon Elon Musk does not buy Twitter, after having made a public proposal to the owners of Twitter, he will have to pay compensation of 1 billion dollars.
If, on the other hand, Twitter is the one who wants to get out of the $44 billion deal, it will have to pay the world's richest man $1 billion as well.
What generates a pressure of a civilized agreement and the culmination of a negotiation that has been lengthened by considerations of the owner of SpaceX.
We are all waiting for Jack Dorsey and his associates to provide what Elon Musk requires, to put an end to this purchase paralysis.
Although, the possibility of continuing with another threat from the tycoon regarding the operation of Twitter is on the table.
The new controversies generate a war between Musk and Dorsey
This weekend, it did not serve to appease the controversy over the cancellation of the Twitter purchase, because Elon Musk did not stop sharing his opinions on his social network account.
This time he talks about the feed algorithm in a more explicit way, after having already mentioned it without much relevance in previous days.
Elon Musk claims that the Twitter feed algorithm manipulates its users without them realizing it. According to an investigation carried out by The Conversation “the system only shows you what it wants you to see”.
For this reason, the tycoon recommends his followers change the filter of your feed from "main" to the "latest" option.
Jack Dorsey defends his creation
Dorsey's tweet in response to these accusations by Elon Musk towards the Twitter algorithm was immediate, and he immediately defended his creation.
He contributed in a short Twitter thread that the feed algorithm is not there to manipulate people. It was created that way so that users who do not enter Twitter every day, quickly find out about the most important news.
Despite this, he affirms that he continues to trust Elon Musk's vision regarding the improvements he can make to Twitter, although he still considers that he is treating it as just another business, and not as a "public good."
Twitter accuses Elon Musk of breaking confidentiality agreement
The legal team of the platform has accused Elon Musk this weekend of breaking the confidentiality agreement signed to buy the platform several days ago.
This for having published a tweet regarding the percentage of false or automated accounts existing among Twitter users.
This is what the richest man in the world contributed to his feed. It is not yet known what the consequences will be on the rupture of the agreement and on the stoppage of the purchase of the social network.
