Photo courtesy of CNN
Although the Twitter board has decided to sell the social media platform to Elon Musk, it doesn't mean that the ownership will immediately get transferred. Selling such a large company should go through a long process. Until today, the latest information has come stating that deal is now on hold when Musk waits for Twitter to give an accurate number of the existing fake or spam accounts.
Earlier, Twitter had calculated that the fake/spam accounts only represent less than 5% of users. However, the company later said that "it applied significant judgment, so its estimation of false or spam accounts may not accurately represent the actual number of such accounts". The number of fake/spam accounts could be higher than estimated, and it's currently "continually seeking to improve the ability to estimate the total number of spam accounts".
Fake or spam accounts have long been an issue on Twitter. Musk has called for "defeating the spam bots" on Twitter with several other changes, including bringing some banned accounts back such as that of former US President Donald Trump. It's worth mentioning that if either side walked away from the deal at this stage, one would have to pay a termination fee of $1 Billion (~RM4.39 Billion).
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