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Elon Musk Looks to Exit Twitter Takeover Due to Fake Profiles in the App

Published

2 years ago

June 7, 2022

Elon Musk Looks to Exit Twitter Takeover Due to Fake Profiles in the App

It’s now been six weeks since the Twitter Board agreed to a $44 billion hostile takeover offer from Elon Musk – so where are things placed at this stage?

After much speculation, it now appears that Musk is indeed looking to pull out of the deal entirely, according to a new SEC filing.

In a letter sent to Twitter’s Chief Legal Officer Vijaya Gadde, Musk’s team has asserted that Twitter has breached the terms of the takeover deal by refusing to provide more insight into the number of fake profiles on its platform, which Twitter pegs at 5% of its active user count. Musk himself has publicly questioned this figure, and now, he appears to be looking to use this as a means to back out of his takeover bid.

As per the SEC note:

“Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement. This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.”

Musk’s team says that, despite repeated requests, Twitter has refused to elaborate on this 5% figure, which Musk believes is far too low to be accurate. Musk’s team argues that the accuracy of this data is critical in securing financing for Elon’s Twitter bid, and if Twitter can’t provide more detail to reinforce this figure, that would be tantamount to a breach of the deal terms, which would enable Musk to exit his takeover push.

Which is not quite how Twitter sees it.

Twitter has argued that its 5% fake profile figure is accurate, based on its own sampling and reporting, through processes which have been accepted by the SEC in the past, and as such, that should be the agreed number under the terms of the deal.

In response to Musk’s latest SEC letter, Twitter has continued to stand by its position on this front:

“Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”

So can Musk actually pull out of the deal if he stands by the argument that Twitter’s fake profile counts are not right?

Well, maybe.

In his early push to accelerate his Twitter deal, Musk did waive various due diligence measures in order to hasten his takeover of the app, while there is a $1 billion break clause built into the deal’s terms which Musk would have to pay, one way or another. But most experts seem to be stumped as to whether Musk could use this clause as a deal-breaker – largely because really, Musk is probably right, and there probably is a lot more fake accounts and bots active on Twitter than the company is acknowledging.

Huge bot networks have been detected in the past, including some spanning over 500,000 fake accounts within a single cluster alone. Back in 2019, Wired reported that bot profiles were dominating political news streams, with bot profiles contributing up to 60% of tweet activity around some events, while in 2017, researchers from the University of Southern California and Indiana University found that around 48 million Twitter accounts were automated – amounting to 15% of active Twitter accounts.

Despite these findings, Twitter has consistently maintained that only 5% of accounts on its platform are fake, and that number has remained static since the company went public back in 2013.

Which seems unlikely, right? I mean, how can that figure remain static all the way through?

Based on this, and the fact that Twitter’s ad business relies on the accuracy of its audience reach data, Musk would appear to have a case in arguing that if Twitter can’t provide more accurate figures, or a better explanation of its assessment, then that is a breach of the deal’s terms.

Musk has equated this to buying a house which turns out to be infested with termites.

“It seems like if you said, ‘Okay, I agree to buy your house.’ You say the house has less than 5% termites. That’s an acceptable number. But if it turns out it is 90% termites, that’s not okay. It’s not the same house.”

Twitter’s not 90% bots, but the analogy makes some sense. And given that this is Elon Musk, the richest person in the world, there could well be a way for his team to argue a way out of the deal, if they so choose.

But it won’t be easy.

Again, Twitter will look to enforce the terms of the deal, including those elements that Musk has waived, and it’ll likely require many months of legal proceedings to come to any conclusion about whether Musk has to pay up.

Which would be disastrous for the company. The stress and uncertainty of the deal has already led to several top execs leaving the company, along with many other staff, and you can only imagine that a protracted legal battle will exacerbate the situation even further.

But it does seem like that’s where things are headed, with Musk refusing to pay, and Twitter refusing to elaborate – possibly because it can’t in any way that Musk’s team would accept.

Which could lead to a big mess at Twitter HQ, and ongoing problems for the company, in almost every way. That will de-rail future plans, slow down development, change the app’s focus.

In any way you look at it, anything other than a Musk takeover now will leave Twitter with a significant mess to either manage in the interim, or deal with in the aftermath.

What comes next is unclear, but six weeks in, we’re not close to a conclusion of the Elon Musk Twitter takeover drama just yet.

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Related Topics:app Due Elon Exit Fake Musk Profiles takeover Twitter

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12 Proven Methods to Make Money Blogging in 2024

Published

5 months ago

May 14, 2024

Entireweb News Bot

This is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

Identify audience needs: Develop products that address the specific needs and desires of your target audience.
High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

7 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

Published

8 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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