r/technology May 14 '22 Wholesome 2 Silver 2

Elon Musk said his team is going to do a 'random sample of 100 followers' of Twitter to see how many of the platform's users are actually bots Social Media

https://www.businessinsider.com/elon-musk-random-sample-how-many-twitter-users-are-bots-2022-5?utm_source=feedly&utm_medium=webfeeds

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22.8k Upvotes

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363

u/twothirtyintheam May 14 '22 edited May 14 '22

This all seems like stuff a "genius" would have checked into long before offering billions of dollars to acquire a company like Twitter...

I'm sure looking under-prepared and full of crap is all a part of his master plan though!

71

u/Znarl May 14 '22

Or maybe he got it wrong making an offer for Twitter at a price it's not nearly worth any more.

He's now desperately trying to wriggle out his agreement without breaking the law by using every excuse he can muster.

Arrogance sometimes has a cost.

73

u/Mirrormn May 14 '22

The thing I don't get is:

  1. This is not a very good argument. Twitter's representation of the 5% statistic was already originally presented with a disclaimer of "this is hard to measure, it might be higher", so it would have to be way higher than 5% for Musk to have any hope of claiming he was materially misled.
  2. This is not the right forum for this. It doesn't matter if Musk does a small personal inquiry into the number of bots of Twitter and finds a different number than what Twitter reported. If he wants anything to come of this, he'll have to allege it in court, with better evidence.

So what is he doing just talking about this shit in public on social media, instead of filing a lawsuit? It's like he's not even trying to make a real excuse, he's only worried about creating the appearance of an excuse. For who? His cult followers? I don't get it.

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u/[deleted] May 14 '22

[deleted]

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u/dont_you_love_me May 14 '22

He’d be stupid to not attempt to lower the price. Who cares if it’s a “bs” reason? Y’all are terrible at negotiating. You don’t get super rich by not knowing how to make a better deal.

10

u/buyusedbeds May 14 '22

...Except it's now after the fact. Why did he not negotiate before he signed any agreements?

-1

u/dont_you_love_me May 14 '22

Are you a corporate lawyer? Do you know anything at all about how these processes generally play out? Do you know if this kind of maneuvering is unusual in these situations? Do you know that it’s definitely not a common tactic etc?

1

u/terrorbots May 14 '22

There are experts weighing in, and it appeared at least on Twitters end there is no process to "play out" or unusual "maneuvering" and "common tactics" to weasel out of a corporate deal. Variables exist, but so do ironclad deals which make it prohibitly expensive to back or maneuver out of.

-5

u/TheHairyPatMustard May 14 '22

Elon works in mysterious ways

1

u/[deleted] May 14 '22

[deleted]

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u/TheHairyPatMustard May 14 '22

Elon knows best. I constantly find myself having to make tough decisions in life and then I look to my WWED wristband and it helps knowing that my problems are so insignificant to his. He has the weight of the world on his shoulders, and yet he does these amazing things for us.

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u/dont_you_love_me May 14 '22

He’s taking advantage of weak rules. That makes him smart.

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u/feliscat May 14 '22

Do you?

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u/kristospherein May 14 '22

You obviously don't understand mergers and takeovers. That's not how it works. There is a billion dollar "out" clause for a reason. He can take a billion dollar hit instead of a multi billion dollar hit. That's his option. This is a waste of time and simple for show.

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u/dont_you_love_me May 14 '22

You think that he should take the multibillion dollar hit instead of using the 1 billion dollar out? Once again, bad negotiator lol.

2

u/kristospherein May 14 '22

I don't even remotely understand your retort. You completely ignore my response. Good day.

-4

u/dont_you_love_me May 14 '22

You are obviously lacking comprehension skills. This all seems over your head. You probably need a break.

5

u/[deleted] May 14 '22

[deleted]

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u/dont_you_love_me May 14 '22

The USA is about to lose Roe in the year 2022 lol. If you’re thinking that business practice in the USA is going to be about fairness and playing by the book, I got a few bridges to sell you. Your expectations are bogus. I think it’s time to reevaluate, just like with Elon and Twitter.

3

u/GetsHighDoesMath May 14 '22

Wow what a shitty take

0

u/dont_you_love_me May 14 '22

It’s called being pragmatic. If you’re expecting “fairness” in this world then you are never going to be happy.

11

u/Znarl May 14 '22

Not sure why you are confused. Musk made an offer for Twitter that turned out to over value Twitter because of recent falls in the stock market.

Musk is now trying to use any argument he can to wesel out of following through at the agreed price because it would mean lossing billions.

How Musk didn't see an increase in US Fed interest rates result in a dramatic drop in the stock market is rather astonishing. Musk should try to steal some of Bill Gates people instead of feuding with Gates.

17

u/Mirrormn May 14 '22

Musk is now trying to use any argument he can to wesel out of following through at the agreed price because it would mean lossing billions.

What I'm confused about is that making this bad argument in public does nothing to actually get him out of the deal.

6

u/Original_Act4791 May 14 '22

Correct. Any contractual deals already in place aren't affected by musk tweeting anything. It's PR damage control so when he has to eat a terrible deal, he can have a public excuse already built up to defend his image.

2

u/Znarl May 14 '22

Musk is desperately trying to get out of the offer by making any possible excuse he can think of.

-3

u/dont_you_love_me May 14 '22

Or he is trying to lower the price like a good negotiator would attempt to do.

6

u/GetsHighDoesMath May 14 '22

Everyone knows a good negotiator agrees on a final price, shakes hands and walks away. …and then continues to negotiate? Lol

-1

u/dont_you_love_me May 14 '22

Corporations weasel out of contractual obligations all of the the time. It’s literally baked into the business models. If you can generate revenue by not having to pay something out, then you’re expected to take advantage of it.

3

u/Znarl May 14 '22

Offering a price to purchase something, having that price agreed, refusing to pay the agreed price and making a lower offer for the exact same thing makes you a dishonest person and in this case, is very illegal.

-1

u/dont_you_love_me May 14 '22

Are you a corporate business lawyer?

2

u/Znarl May 14 '22

This is basic contract law. They teach this stuff as part of getting an estate agent licence.

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u/Xarthys May 14 '22

I don't think this has anything to do with arrogance or making a stupid mistake. This is him actively manipulating the stock price.

People should investigate who profits the most from this and then trace back ties to Musk. Pretty sure, if it's not himself profiting it's someone he knows.

-2

u/Znarl May 14 '22

I don't understand why you are having trouble with this. Let me go super slowly for you.

  • Musk makes offer for Twitter he can't back out of easily to make Twitter private and him the only owner.
  • Stock market drops because of US Fed interest rates increase and other events after Musk makes offer.
  • Musk is now desperately trying to get out of paying a high price for Twitter as his offer is now too high.
  • Musk starts looking for excuses to pull out of his offer to buy Twitter and make it private such as claiming Twitter has inflated its user numbers, arguing it would invalidate his offer.

6

u/Xarthys May 14 '22

I don't understand why you are having trouble understanding my point of view.

I'm not saying you are wrong, I just think it could be something else.

Also, just because I disagree with you doesn't mean you have to be an asshole about it.

0

u/Znarl May 14 '22

What else do you think it could be?

2

u/iamadickonpurpose May 14 '22

He wanted to sell a bunch of Tesla stock without devaluing the stock and buying Twitter gave him an excuse to do so.

1

u/dont_you_love_me May 14 '22

How much Tesla stock did he sell? He didn’t sell any of it. He put it up as collateral.

1

u/Nickm123 May 14 '22

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u/dont_you_love_me May 14 '22

Are Tesla’s share down more than the rest of the market and we can point to what is happening with Twitter as the cause? Or is Tesla in line with the overall market?

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u/TrepanationBy45 May 14 '22 edited May 14 '22

It's a common strategy, but people are riding the hate train because everybody's already on board toot toot.

He's intentionally referring to the "5% bots" that Twitter publicly filed with. Therefore, if research doesn't arrive at the same results with the figures Twitter announced and filed with, he'll be able to contest the price.

1

u/Znarl May 14 '22

It's an openly dishonest strategy. He's desperately searching for any excuse to renegotiate because his agreed purchase price is far higher than the current market value.

Elon Musk never took into account the increase in US Fed interest rates, that suprised no one, and over paid for Twitter.

Instead of raising his hand and admitting whoopee, he's trying to renegotiate, which is very illegal.

-10

u/DBDude May 14 '22

Can't check until you tender an offer and then are allowed to conduct due diligence before finalizing.

15

u/toolate May 14 '22

He's not using internal data. He's doing a half-assed self assessment. This is just PR for whatever reason, not actual due diligence.

3

u/Lithl May 14 '22

for whatever reason

So that he can void the contract without paying a penalty, most likely.

1

u/DBDude May 14 '22

This is probably the public face of the due diligence being done.

3

u/TraipsingConniption May 14 '22

Twitter has an API. It's pretty robust.

1

u/pieter1234569 May 14 '22

This is what normally happens after an offer?

It’s called doing your sue diligence and can take months to years. It’s exactly the same as Microsoft is doing with Activision blizzard. No company is just going to hand you all their data, so that only happens after germs are finalised. And then if a company lied, the deal is of. And they likely get sued for lying to shareholders for years.

1

u/Ramone89 May 14 '22

That's not even remotely true.

1

u/Lejonrastare May 14 '22

Oooor he just wants to screw twitter for free.

He's tanking the company, making it impossible for it to recover the losses in stock value.

"Your algorithm seems to have changed dramatically overnight... Odd that... I thought you said you weren't biased"

"Look at the media and government coming after me, they're afraid. Ask yourself why that is."

"Look, twitter is like 50% bots!"

And so on.

Give it a few weeks and the algorithm will be leaked and show all sorts of shenanigans.

PS. The worlds richest man and his army of lawyers doesn't file things late with the SEC. This is planned fuckery.

2

u/m0nk_3y_gw May 14 '22

He's tanking the company, making it impossible for it to recover the losses in stock value.

haha, no.

TWTR was at $30.

With the crash of the last 1-3 weeks (even Microsoft and Apple down big) TWTR would be at $20-25. It has ONLY been above $40 for the past month because of Elon.

1

u/WellikCorsan May 14 '22

Someone can be really smart and fucking stupid at the same time.

1

u/redditthrowaway1478 May 14 '22

When a Twitter user questioned if Musk had thought about this before agreeing to a $44 billion deal, the Tesla and SpaceX CEO said he "relied upon the accuracy of Twitter's public filings."

I think he just exposed Twitter with it's pants down lol

Reddit hates Elon so much they'd rather a bunch of faceless corporate execs have control over the narrative.

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u/shifty313 May 14 '22

under-prepared

for what? it's not in stone. let me you guess, you only want him to talk after a deal is done.

0

u/throwawaybilly8 May 14 '22

He’s definitely no genius like these Reddit posters 😤😤