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Social media giant Twitter has reportedly agreed to finally share user data with Elon Musk after he accused the company of distorting its number of users.
DAVE BRIGGS: All right, time now for your daily Musk Minute. Ask and ye shall receive. Or if you're Elon Musk, relentlessly publicly criticize and tweet at a company, and they will eventually comply to your demands. That's what's happening, according to the Washington Post. Twitter will hand over all the data that Elon is looking for or access to its, quote, "firehose" of more than 500 million daily tweets in order to determine if that number of bots on the platform is around 5%, which is what Twitter has claimed from the beginning of this process, or closer to 20%, which is where the Tesla CEO pegs that number.
Now, the good news is, this deal appears to be moving forward, the $44 billion acquisition to take it private. The bad news is this, Rachelle. Tech columnists say right now that he won't actually get the number that he needs, which is the internal numbers that he waived when he waived due diligence, because there are probably thousands, maybe millions, of Twitter users who have accounts, who are real, that don't actually tweet. So it's likely this will still go on several more rounds.
RACHELLE AKUFFO: Well, I mean, this is a case of buyer beware. If you don't do your due diligence, you're going to run into situations like this. I mean, look, a lot of people were wondering, is he just bringing this up as a way to get out of the deal? Because initially, when he first showed interest in Twitter, he said he wanted to buy it to get rid of the bot. So a lot of people were like, well, why is this now an issue about how many bots they have when you intended to sort of clear up this mess in the first place?
But I think he wanted to know just how big of a mess it was. It'll be interesting to see if any other hurdles come up, if they are able to settle this bot issue, if there might be a next hurdle that might come up that might throw a spanner in the works.
SEANA SMITH: Yeah, and I think even just looking at the share, at the reaction in the stock today, what, Twitter up just slightly, up around 7/10 of a percent, still showing and trading at $40, just above $40 a share, significantly lower from that $54 mark that what he agreed to buy the company at. So it shows that there's still skepticism out on Wall Street, just the fact that we will see this deal go through.
To me, it looks like Musk is trying to come up with every excuse in order not to go through with the deal. Now he has this data. He's getting, what, the Post is saying over-- with more than 500 million posts a day. But Dave, to your point, he still is probably not going to be able to figure out the exact number, or percentage, I should say, of bots on the platform. So a lot of questions that are still unanswered. I don't really know whether or not we will-- or he will be able to determine that before he either goes through with the deal or scraps it all together and pays that breakup fee or the fine.
DAVE BRIGGS: Yeah, still feels like he is pushing for a lower price. To your point, no arbitrage plays that the deal will go through at 54.20. Still feels like, from the very beginning, Elon is hoping to lower that price now that the reality has set in that he was probably massively overpaying at $54.20. But the next couple of weeks should tell us a lot. The report from the Post said that that data could come as early as the next couple of days.