Why elon musk says were living in a simulation

Opening another front against Twitter CEO Parag Agrawal , Tesla CEO Elon Musk on Tuesday asked the US Securities and Exchange Commission ( SEC ) to probe whether Twitter's claim on the number of its user base is true. Replying to a follower who said that if it turns out that Twitter lied in the official filing, serious consequences and complete distrust of investors can await it, Musk replied: "Hello @SECGov, anyone home?" While Twitter said in its SEC filing that less than 5 per cent of its monetisable daily active users (mDAUs) are fake, Musk believes the number of bots is four times higher. To prove his point, Musk has now started a poll among his over 93 million followers. "Twitter claims that >95% of daily active users are real, unique humans. Does anyone have that experience?" he posted. A user replied: "I have to think @elonmusk knew this was the case before he moved on Twitter. If Twitter lied about how many actual users they … [Read more...] about musk: Elon Musk wants US SEC to check if Parag Agrawal’s claim on Twitter users is true

Elon Musk may be directing his buyer’s remorse at Twitter Inc.’s bot problem. But underpinning the deal is a $13 billion debt bill that’s looking like a bigger burden by the day. The package, drummed up in a rush and signed by banks before the end of the billionaire’s beloved April 20 weed holiday, will leave the social media platform with an annual interest expense approaching $1 billion, giving the company an alarmingly small margin for error. To sober-minded credit analysts, second thoughts about the deal are to be expected. The purchase will be funded with a leveraged loan and high-yield bonds. CreditSights estimates this will dramatically increase Twitter’s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion. With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs. That’s even the case … [Read more...] about musk: Why a huge Twitter debt burden can be a bigger problem for Elon Musk than bots

With Elon Musk waffling on his commitment to buy Twitter for $44 billion, Twitter's board of directors yesterday said it intends to enforce the merger agreement at the original price. "The Board and Mr. Musk agreed to a transaction at $54.20 per share. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement," the Twitter board said in a statement reported by CNN and other media outlets. Twitter on Tuesday also released a preliminary proxy statement laying out reasons shareholders should approve the deal. "Twitter is committed to completing the transaction on the agreed price and terms as promptly as practicable," the company said in a press release announcing the proxy statement. Exit options The sale agreement lets either Twitter or Musk kill the deal and pay a breakup fee of $1 billion under certain circumstances. For example, Musk would have to pay the termination fee if he "fails to … [Read more...] about Twitter board tells Elon Musk: We will not alter the deal

Twitter Inc published its account on Tuesday of its deal negotiations with Elon Musk , showing he opted out of asking the questions about the social media company's business he has now cited in declaring the $44 billion acquisition is "on hold." The account, published in Twitter's proxy statement that outlines what shareholders need to know to vote on the deal, paints a picture of Musk in a rush to clinch a deal with his "best and final" offer. Musk negotiated the Twitter deal over the weekend of April 23 and April 24 without carrying out any due diligence, the proxy statement shows. Since signing the deal on April 25, Musk has questioned the accuracy of Twitter's public filings about spam accounts representing less than 5% of its user base, claiming they must be at least 20%. This is despite Twitter stating in its filings that the numbers could be higher than it estimates. Independent researchers have projected that 9% to 15% of the millions of Twitter … [Read more...] about musk: Twitter’s account of deal shows Musk signing without asking for more info

Despite the ongoing tussle between Elon Musk and Parag Agrawal , the Twitter board is keen to see the $44 billion takeover deal go through as it is in the "best interest of all shareholders", the media reported on Wednesday. "We intend to close the transaction and enforce the merger agreement," the board said Tuesday in a statement to Bloomberg. Goldman Sachs Group Inc and JPMorgan Chase & Co may earn a combined $133 million in fees for advising Twitter on the acquisition, but only if the deal goes through. The Tesla CEO on Tuesday said that the $44 billion deal at $54.20 a share "cannot move forward" until the Twitter CEO Agrawal proves the actual bot numbers. While Twitter maintains it has less than 5 per cent fake/spammy accounts on its platform, Musk believes the number can be as high at 50 per cent, and wants Agrawal to come clean on this. In a tech conference in Miami on Monday, a frustrated Musk even said that a viable deal at a … [Read more...] about musk: Amid Musk-Agrawal tussle, Twitter board wants $44 billion deal to go through

Amid the ongoing slugfest between Tesla CEO Elon Musk and Parag Agrawal , more Twitter executives have moved on, apparently sensing what may come their way at the micro-blogging platform in the near future. Ilya Brown, a VP of product management for health, conversation and growth; Katrina Lane, a VP of Twitter Service; and Max Schmeiser, head of data science, have quit the company, reports TechCrunch. While Lane and Schmeiser worked at Twitter for nearly one and two years respectively, Brown had been at the micro-blogging platform for nearly six years, according to their LinkedIn profiles. "We continue to be focused on providing the very best experience to the people on Twitter. We can confirm that they will be leaving Twitter for new opportunities. We are thankful for all of their hard work and leadership," a company spokesperson was quoted as saying in the report that came out on Tuesday. Recently, Twitter CEO Agrawal fired two key executives -- … [Read more...] about Three senior Twitter employees leave company