Since Elon Musk purchased a significant share in Twitter several weeks ago, the company has given up all its gains.
About three weeks later, Musk and Twitter’s board announced the billionaire would purchase the company for $44 billion.
Late last week, Musk said that the deal to buy Twitter was placed on hold until he finds out more details about fake accounts and bots that are present on the platform. Hours later, he wrote that he’s “still committed to acquisition.”
When a user asked Musk to “elaborate on process of filtering bot accounts,” he replied: “I picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate.”
Musk posted during the early hours of Sunday that he has yet to see any analysis that shows that the social media company has fake accounts of fewer than 5 percent. He later said, “There is some chance it might be over 90 percent of daily active users.”
Twitter on Thursday told news outlets that it would freeze hiring, while confirming that two top executives were let go from the company, including its head of consumer product Kayvon Beykpour. CEO Parag Agarwal asked him to leave, according to Beykpour in a series of Twitter posts.
Meanwhile, Musk confirmed last week that he would allow President Donald Trump to return to Twitter after the deal is finished, although Trump has said he wouldn’t return to Twitter because he wants to stay on his own platform, Truth Social.
“I am not going on Twitter, I am going to stay on Truth,” Trump told Fox News in April. “I hope Elon buys Twitter because he’ll make improvements to it, and he is a good man, but I am going to be staying on Truth.”