Source: Bloomberg
Summary
Elon Musk tweeted that Twitter had too many bots, which is why he was trying to renege on his commitment to buy the company. Musk’s team had been trying to negotiate with Twitter to reduce the price or walk away from the deal. Twitter’s board had been pushing back against Musk’s attempts to terminate the deal. The dispute centered on the number of spam accounts on the platform. Musk’s team claimed that Twitter had misled them about the number of bots.
Our Reading
The launch follows a familiar script.
Musk claims Twitter is infested with bots. Twitter says Musk is just trying to get out of the deal. The real question is, didn’t Musk’s team do their due diligence before making the offer? The bot problem isn’t exactly a new issue. Musk’s tweetstorm sounds like a convenient excuse. Twitter’s board isn’t buying it, and neither should we.
Author: Evan Null
The Bot Conundrum
The bot problem on Twitter is not new. It’s been a persistent issue for years. So, why is Musk suddenly making it a deal-breaker? It’s hard not to see this as a negotiating tactic.
A Familiar Pattern
This isn’t the first time Musk has used Twitter to renegotiate a deal. He’s done it before with other companies. It’s a tactic that’s worked for him in the past.
Due Diligence
Musk’s team should have done their due diligence before making the offer. They should have known about the bot problem. It’s not like it’s a secret.
A Convenient Excuse
Musk’s tweetstorm sounds like a convenient excuse to get out of the deal. It’s hard to take him seriously when he’s been so vocal about his plans for Twitter.
The Real Question
The real question is, what’s really going on here? Is Musk just trying to get out of the deal, or is there something more at play? Only time will tell.
