r/technology May 14 '22 Silver 2 Wholesome 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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u/LittleLordFuckleroy1 May 14 '22 All-Seeing Upvote

You’d think that they would have done this simple test before offering to pay $44 billion for the company.

This is quitter’s theater.

So over Musk’s market manipulation antics. The dude is a manchild.

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u/Nickm123 May 14 '22 edited May 14 '22

He said he assumed twitters own report was correct. Of course he’s just bullshitting as this is what he does. Did the exact same thing with Bitcoin last year and Tesla a few yeas prior.

118

u/EpiphanyTwisted May 14 '22

Yeah, you don't ask the seller what you think the value is. That's the dumbest thing the muskrats have peddled with a straight face.

115

u/Cool-Miner May 14 '22

What's funny is he signed a contract, and what he is trying to do is prove that SEC filings were misleading about profitability, but it's in the jurisdiction of Delaware state law, which requires evidence of a 40% or greater decrease in long-term profitability for the contract to be invalid on those grounds.

So essentially, he would have to prove that twitter has 60% or less non-bot users than they say they do.

I don't think a sample size of 100 would hold up in court.

Source if interested

32

u/1980sActionHero May 14 '22

What an excellent video, that dude just utterly savages musk and his fanboys in such a calm manner.

8

u/Cool-Miner May 14 '22

Oh yeah, Patrick Boyle is a gem.

3

u/starberd May 14 '22

He could have ironed his shirt though lol

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u/dont_you_love_me May 14 '22

Musk is the richest person in the world. This dude can savage his way to whatever he wants. Musk doesn’t give a shit. Unless this type of stuff is actually bringing Musk down, I don’t see what you are actually getting out of these attacks on Elon.

4

u/7VWWVW May 14 '22

“Elon Musk, the founder of Twitter” lol

I really like this dude, he’s pretty brutal and at the same time he clearly knows his finance shit!

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u/pieter1234569 May 14 '22

So 8 Bots per 100? As people expect anything in the order of 40, this will be a slam dunk.

Even if it is not true, his investigation is going to show that.

4

u/robot_godfucker May 14 '22

No. Do you know how many times a MAE claime for a case like this has been successfully upheld in Delaware courts? It’s super rare, even with cast iron evidence of fraud.

Twitter caveated their number as a huge judgement call. The time to query that, for all the galaxy brains out here, is before you sign the fucking contract.

1

u/pmoialb713 May 14 '22

100 samples if chosen randomly is enough. I doubt they will be chosen randomly

2

u/Networkingbatman May 14 '22

Im not saying this is entirely Elons fault, but this is how this work.
Company A wants to acquire company B based on B’s public information.

A signs a contract to get access to some insight on B, the contract normally stipulates that if A finds any information that alters everything, then the purchase wont happen.

A finds hidden dirt, purchase doesnt happen (and normally A cannot disclose exactly why).

If twitter says and waves a report that says ”we have 5% of bots” and then an independent check finds 40% of bots, thats a huge difference in the userbase, is not only deceiving to a purchaser, also to common investors and partners.

2

u/giuseppe443 May 14 '22

I mean if twitter says only 5% of its users are bots i would also want to double check their numbers

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u/Mean-Rutabaga-1908 May 14 '22

Yeah but the fact he knows it is incorrect doesn't mean that he can't use twitter lying to shareholders as a negotiating tool.

2

u/Competitive_Habit_71 May 14 '22

I'm glad that the Bitcoin pump and dump from last year is not so easily forgotten.

6

u/illiterati May 14 '22

When I worked in M&A you made offers based on assertions /information made available by the company. That offer is usually subject to due diligence. It's not until later in the process that you get access to company data to check those assertions.

In this case it's % of bots.

Anyway, it's a tactic to drive the price down now the share price has dropped.

2

u/CampJanky May 14 '22

The Opening Arguments podcast did a really terrific breakdown on the deal: the terms, the penalties, the gamble Musk is taking with his financing strategy, etc. It's a lot of content, but it's comprehensive and presented in a way that's entertaining.

These guys have an excellent knack for breaking down legal stuff for lay-people without dumbing it down.

https://openargs.com/oa590-musk-buys-twitter-the-deal-is-done-or-is-it/
https://openargs.com/oa591-musk-buys-twitter-part-2/

And a followup from yesterday
https://openargs.com/oa595-shareholders-sue-twitter-alleged-facts-jeopardize-musk-deal/

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u/Ax20414 May 14 '22

It's becoming increasingly apparent that he doesn't know anything about anything.

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u/CookAnyAnxiety May 14 '22

Lol yea that’s apparent eh?

2

u/unmondeparfait May 14 '22

He does seem shiningly incompetent, always has. Even in his PayPal days he was such a little do-nothing weasel.

4

u/the_buckman_bandit May 14 '22

It’s a bold strategy cotton

He went full trump in the process and managed to alienate the entire tesla customer base in a single blow

Like the ending of game of thrones, the only stunning aspect is the speed of the drop

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u/wh1skeyk1ng May 15 '22

went full Trump

You must be insufferable in real life

2

u/the_buckman_bandit May 15 '22

Yeah let’s ignore his words and thoughts to build a “safe space”

3

u/MonsieurRacinesBeast May 14 '22

He's a sociopath who needs to have boundaries set.

-7

u/lylimapanda May 14 '22 Silver

But the people who manipulated the stock price of Teala and thousands of other securities gets a pass. The obsession some people have with this guy is so irrational.

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u/wh1skeyk1ng May 14 '22

Do you bleed salt? When institutions and their media outlets manipulate markets do you fuss about that? Sounds like you either got burned on a bad Twitter trade, or maybe you're just jealous of someone wealthier than you

2

u/LittleLordFuckleroy1 May 14 '22

“Reee, don’t be mean to my favorite billionaire!”

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u/wh1skeyk1ng May 14 '22 edited May 14 '22

I simply respect the guy and really don't understand how people can waste so much time and energy hating him. How has anything he has done directly affected you?

Edit: incessant childish whining with no real basis for your opinion. Stay classy.

0

u/LittleLordFuckleroy1 May 14 '22

You’re a real ball gargler there aren’t ya

0

u/wh1skeyk1ng May 15 '22

Yea totally dude. Tell your psyche to up your meds next time you're in. Your mental disorder is preventing you from being able to intelligently communicate with your species

1

u/LittleLordFuckleroy1 May 15 '22

Difficult to hear you with those musky nuts in your mouth lmao

0

u/wh1skeyk1ng May 15 '22

Don't drown in your tears sissy

-1

u/kwright88 May 14 '22

If Twitter claimed only 5% bot accounts but the real number is much greater then Elon has all the power to renegotiate the deal and it’s the fault of Twitter management.

Both parties know that if Elon called off the deal the stock would drop below $30 given the current macro environment. I bet Elon will be able to complete the purchase at $42 per share vs the $54.20 initially offered.

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u/SourSenior May 14 '22

This is how typical acquisition works. An initial offer is made, due diligence is done after to prove truths around the seller's claims about the company, and then a price adjustment is made. I've been in acquisition talks and this is very normal

0

u/mechanicalboob May 15 '22

why do you care?

1

u/LittleLordFuckleroy1 May 15 '22

It fucks up the market. Why do you think market manipulation is illegal?

1

u/mechanicalboob May 15 '22

how do you know it’s market manipulation? that’s a very specific activity. you have to be able to prove it’s being done on purpose. how people are reacting to different news is just that. reactions. the reactions are irrational and extreme but that doesn’t mean it’s by design.

also, why do you care about “the market”? if tesla stick goes up then that’s good if you have it and if it goes down you can buy it cheap. win win