Elon Musk accuses Twitter of fraud for hiding real number of fake accounts

Elon Musk accuses Twitter of cheating for hiding the actual number of bots on its platform The New York Times. In the latest installment of the Twitter vs Musk saga, the Tesla boss’s team claimed in a court filing that 10 percent of the social network’s daily active users who see ads are inauthentic accounts. If you recall, Twitter has long claimed that bots make up less than five percent of its user base, and Musk put his planned acquisition of the social network on hold in mid-July to confirm if that was true.

The Tesla and SpaceX boss, who is also a prolific Twitter user, launched an aggressive takeover of the social network in April after it became the company’s largest shareholder. While Twitter was quick to accept his offer, they soon stumbled upon the number of fake accounts on the platform – he also accused the company of not giving him access to enough information to verify the number of bots on the site. Twitter then gave him full access to his internal data, but Musk ended up telling the Securities and Exchange Commission that he wanted to end the acquisition because of “false and misrepresentations” about the social network.

Twitter sued its largest shareholder for attempting to exit its $44 billion buyout deal, telling the court Musk was wrongly breaching their agreement. The site accused him of backing down because Tesla and Twitter stocks have fallen due to the economic downturn and the “deal he signed no longer serves his personal interests.”

In this new filing, Musk’s camp said his analysts found a much higher number of fake accounts than Twitter claimed with Botometer. This is a machine learning algorithm developed by Indiana University that “checks Twitter account activity and gives them a score based on how likely they are to be bots.” Musk’s lawyers said the social network hid its bot problem in order to get Musk to agree to buy the company “at an inflated price.” They also said:

“Twitter miscounted the number of fake and spam accounts on its platform as part of its plan to mislead investors about the company’s prospects. Twitter’s disclosures have slowly unraveled, and Twitter is frantically closing the gates of information in a desperate attempt to prevent Musk from blocking parties from exposing his fraud.”

Twitter fired back with its own complaint, calling its claims “factually inaccurate, legally inadequate and economically irrelevant.” The company said the botometer is unreliable and once gave Musk’s own Twitter account a score suggesting it was “most likely a bot.” Twitter’s lawsuit against Musk goes to court in October.

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https://www.engadget.com/elon-musk-accuses-twitter-of-fraud-fake-accounts-073225706.html?src=rss Elon Musk accuses Twitter of fraud for hiding real number of fake accounts

Russell Falcon

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