Wednesday, June 29, 2022

Twitter CEO Defends Bot Estimates Putting Elon Musk Acquisition On Hold

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Twitter CEO Parag Agrawal opposes Elon Musk’s concerns about spam and bots on the platform, saying Musk’s suggestion to measure the problem by running a random sample of 100 accounts wouldn’t work. “Our actual internal estimates for the last four quarters were all well below 5 percent,” Agrawal wrote on Twitter today. His defense comes after Musk suddenly cast doubt on his $44 billion deal to buy Twitter by tweeting that the deal was “temporarily on hold” over spam concerns.

According to Musk, the hold was put in place pending details to support the service’s estimate that less than 5 percent of measured daily active users are bots or spam accounts. In particular, who needed to be convinced and why remained unclear, and the price of the company’s stock plunged amid the confusion.

Although Musk has not shared anything more about the status of the deal further tweeting that he is “still committed” Speaking about the acquisition, Agrawal further said: “We shared an overview of the estimation process with Elon a week ago and look forward to continuing the conversation with him and all of you.” He said the company does not believe that estimates can be performed externally, as even understanding which accounts Twitter counts in its monthly Daily Active Users report requires private data.

from Musk answer attached to Agrawal’s tweet was a single emoji.

One of the reasons Agrawal says checking for spam and bot activity is so difficult is that many accounts run by real people “look superficially fake”. However, one thing his thread failed to mention is that just a month ago, for the second time in its history, Twitter admitted that it has overcounted active users for years.

Musk elaborated on why this estimate is important, proverb“So how do advertisers know what they’re getting for their money? This is fundamental to Twitter’s financial health.” Elon, in particular, has reportedly told investors that he wants to change Twitter so that it doesn’t rely on advertising money for the majority of its revenue and instead gets more revenue from subscriptions.

Speculation following Musk’s tweet on Friday morning ran wild, with some suggesting his goal was to close the deal at a lower price or perhaps find a way to get rid of it completely with a $$ break-up fee. 1 billion. Whatever the delay and ultimate goal, Agrawal — who fired two top executives the day before Musk’s surprise tweet saying “we need to be prepared for all scenarios” — seems poised to back the company’s reported numbers.


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