Musk is seeking to end his bid to buy Twitter, alleging multiple breaches of the agreement.
In Musk's filing to the US Securities and Exchange Commission on Friday he said he had "repeatedly" requested further information on spam accounts - data that was not forthcoming.Twitter is well known for having a significant number of fake accounts.Twitter would readily have admitted it had a relatively small but persistent bot problem before Musk put in an offer.
Instead it's posited that bot and spam accounts are being weaponised by Musk, as an exit ramp out of this deal.When Musk first looked into buying Twitter the tech economy was in a very different place. At the end of March Tesla stock, which is the driver of most of Musk's fortune, was worth well over $1,000 a share.
Musk was feeling bullish. But since April, Tesla has lost about a third of its value. Many other tech stocks have also done poorly.Many Tesla shareholders also began to worry that Musk's time, already spread between his companies Neuralink, Space X, the Boring Company and Tesla, would be spread even thinner with the acquisition of Twitter. It's difficult to see how it wouldn't.
Musk had other problems too. He claimed he wanted to take over Twitter because it had lost its way. He wanted Twitter to champion "free speech"."By 'free speech', I simply mean that which matches the law," he tweeted.I am against censorship that goes far beyond the law.Therefore, going beyond the law is contrary to the will of the people.
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