{"id":31498,"date":"2022-07-15T20:38:33","date_gmt":"2022-07-15T16:38:33","guid":{"rendered":"https:\/\/ict.io\/why-elon-musk-wont-buy-twitter\/"},"modified":"2022-08-16T22:42:56","modified_gmt":"2022-08-16T18:42:56","slug":"why-elon-musk-wont-buy-twitter","status":"publish","type":"post","link":"https:\/\/ict.io\/en\/why-elon-musk-wont-buy-twitter\/","title":{"rendered":"Why Elon Musk won’t buy Twitter"},"content":{"rendered":"\n

Elon Musk is being sued for abandoning his ambitious plan to buy Twitter. We explain why.<\/strong><\/em><\/p>\n\n

This Tuesday, July 12, Twitter filed a lawsuit against Elon Musk to force him to fulfill his commitment to buy the social network for $ 44 million in late April. Indeed, the boss of Tesla made it known last Friday that he refused to buy the social network under the agreed terms, accusing the company of having provided “false and misleading” data on the number of dormant accounts and bots. The social network denounces a “model of hypocrisy”.<\/p>\n\n

By ending his commitment to buy Twitter, the businessman exposes himself to significant legal action. Both parties have agreed to pay a break-up fee of up to $1 billion under certain circumstances.<\/p>\n\n

Elon Musk trolls Twitter<\/h2>\n\n

The entrepreneur had taken a stake in Twitter earlier this year to announce his intention to buy the platform in the interest of free speech. For several months, the billionaire had multiplied the attacks and mockery of the network where he criticized its content moderation policy, and publicly mocked some executives. <\/p>\n\n

“Elon Musk’s exit strategy is a model of hypocrisy”<\/em> and a “model of bad faith,”<\/em> the social network’s lawyers said. “After putting on quite a show to make Twitter a target and after proposing and then signing a merger agreement, Musk seems to think he is free – unlike any party bound by contract under Delaware law – to change his mind, defame the company, disrupt its operations, destroy its stock value, and wash his hands of it.”<\/em>They said in a court document consulted by AFP, accusing among other things the contractor of not having “used the necessary means to achieve the acquisition<\/em>.<\/p>\n\n

Musk said Twitter had no way of verifying how many of its 229 million daily active users were actually human. Twitter CEO Parag Agrawal then responded with a thread of 13 tweets – publicly stating that bots comprised less than 5% of the bluebird network’s accounts.<\/p>\n\n

Our actual internal estimates for the last four quarters were all well under 5% \u2013 based on the methodology outlined above. The error margins on our estimates give us confidence in our public statements each quarter.<\/p>— Parag Agrawal (@paraga) May 16, 2022<\/a><\/blockquote>