Twitter to Provide Musk with its ‘Full Firehose' of Tweets as it Works to Finalize Takeover Deal
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Loading... - Aarvi Chakma
- 10 Jun 2022
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The Twitter/Elon Musk saga is moving to the next uncomfortable stage, with Twitter now planning to provide Musk’s team with its ‘full firehose’ of tweets, in order to let Musk determine for himself the amount of fake and bot profiles in the app.
Earlier this week, Musk’s legal team filed an official statement with the SEC in which it explained that Musk will not go through with his $44 billion takeover of the company if Twitter’s unable to provide evidence to support its claim that fake accounts and bots make up just 5% of its active user base.
Musk’s team asserts that this is critical information, as Twitter relies on its reach data to maximize its core ads business, and if a significant proportion of its users are not actual, real people, that materially changes the deal.
Thus far, Twitter has stood by its numbers, which it says have been measured via processes that have been accepted by the SEC in the past. Now, it’s looking to hand over all the information that it can to Musk’s team.
As reported :
“After a weeks-long impasse, Twitter’s board plans to comply with Elon Musk’s demands for internal data by offering access to its full “firehose,” the massive stream of data comprising more than 500 million tweets posted each day, according to a person familiar with the company’s thinking.”
What, exactly, Musk will then do with all that info is hard to say, but clearly, Twitter’s legal team has advised that this is the only way to appease Musk’s demands, providing all the information that it can, which will then enable Musk and Co. to develop their own assessment process to determine the amount of fake profiles in the app.
What happens from there is hard to say. If Elon comes up with his own methodology, and finds that the fake profile count is more like 20%, what then?
Some have noted that Musk waived various due diligence elements in his initial takeover offer, in order to hasten the deal, which means that he essentially has to go through with the purchase, no matter what. Read More...
