Twitter observed a fun chat between Elon Musk and Binance CEO CZ (Changpeng Zhao) as Musk remarked that “90% of his comments on Twitter are bots” Zhao agreed with the statement. What was hilarious was the screenshots of various fake accounts of Mr. Zhao replying to Musk. Zhao joined the banter via his official Twitter account and replied, “I agree. Only this one is real”. The conversation seemed like both of them shared the same thoughts and interests.
Elon Musk’s Twitter Acquisition
This opinion of Musk regarding Twitter came amidst his war with the social media platform Twitter. Initially, Elon Musk resolved to purchase Twitter for a whopping amount of $44 billion at $54.20 per share. Musk’s decision was backed by Mr. Zack, who wanted to participate in this acquisition by committing 500$ million.
Other renowned personalities also joined the acquisition – crypto-centric venture firms like Sequoia and Andreessen Horowitz pledged to invest $800 million and $400 million in Twitter, respectively.
Twitter’s value increased with so many big investors joining the company. But, the situation worsened rapidly as Elon Musk decided to back off from his deal. As the source reveals the leaked Question and Answer session between Elon Musk and Twitter employees, Musk wanted to make Twitter an open source platform where all the individuals would have their opinions.
They will also be free to critique, improve, identify bugs in Twitter and provide suggestions to improve the platform. Elon Musk also planned to implement an edit option and a dogecoin-enabled substitution option in the platform.
Twitter Deal Comes to a Standstill
The Twitter deal halted because of bot accounts, claims The Tesla chief.
Once the initial talks were done, Musk backed out from the deal, and both Twitter and Musk got involved in legal battles. Elon Musk sued Twitter for not revealing the number of spam and bot accounts on the platform. Musk canceled the deal saying he cannot go ahead with it until and unless Twitter reveals the actual number.
Twitter also made a legal case against Elon Musk. On July 12, Twitter chairman Bret Taylor tweeted that the company would sue Elon Musk for breaching its contractual obligations with the company.
As the case escalated, Elon Musk claimed that the number of spam accounts revealed by the Twitter committee was much less than the actual number and was misinterpreted by him. Musk also agreed to go on with the deal if Twitter could verify their spam accounts and reveal the actual accounts on the platform.
