Musk tells conference that lower prices for Twitter could be appropriate – SABC News

Elon Musk indicated that a lower price for Twitter Inc. could be appropriate as he and the CEO of Parag Agrawal discussed the company’s plans for spam accounts on Monday, according to a participant in a private conference where Musk was speaking.

Shares of Twitter increased losses in the afternoon trading following Musk’s remarks, which came at a conference in Miami that was closed to the media.

Shares fell more than 8% to close at $ 37.39, lower than the day before Musk announced his share of Twitter in early April, raising doubts that the billionaire would continue with his $ 44 billion purchase of the company. agreed price.

Earlier in the day, Agrawal tweeted that internal plans for spam accounts on social media over the past four quarters had been “well below 5%,” in response to Musk’s days of criticism of the company’s handling of fake invoices.

Twitter’s plan, which has been stagnant since 2013, could not be recreated by outsiders as both public and private information need to be used to determine whether an account is spam, he added.

Musk, who said on Friday that the deal was “temporarily pending” while waiting for spam invoice information, responded to Agrawal’s defense of the company’s poop emoji methodology.

“So how do advertisers know what they are getting for their money? “This is fundamental to Twitter’s financial health,” Musk wrote.

Shortly after his tweet, Musk said at a conference in Miami that he suspected that robots – or automatic billing – were around 20% to 25% of users, according to the attendees’ tweet.

Musk has vowed to change Twitter’s content blocking policies, criticizing decisions such as the company’s ban on former President Donald Trump as being too aggressive at the same time as he promised to fight “spam” on the platform.

Musk has called for tests on random Twitter users to identify robots and said he has not yet seen a “single” analysis showing spam accounts that are less than 5% of the user base.

Musk said on Sunday “there is a good chance that it could be over 90% of daily active users.

Independent researchers have estimated that from 9% to 15% of millions of Twitter profiles are robots.

Twitter does not currently require users to register using their real ID and allows direct automated, humorous and pseudonymous formatting of the service.

It prohibits counterfeiting and spam and penalizes invoices when the company decides that their purpose is to “deceive or manipulate others” by engaging in fraud, coordinating abuse campaigns or inflating artificial participation.

Musk’s comments to a private audience could raise concerns about his publication of market movement information.

Musk, known for his sincere posts on Twitter, has a long history in conflicts with the US Securities and Exchange Commission; Recently, a US judge criticized him for trying to evade a settlement with the SEC that requires monitoring of his Tesla squeaks.

Musk tells conference that lower prices for Twitter could be appropriate – SABC News

Source link Musk tells conference that lower prices for Twitter could be appropriate – SABC News

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