BREAKING NEWS! Elon Musk Just SLAMS Twitter Deal Off The Table!

 elon musk tweeted on saturday that    twitter incorporated's legal team    accused him of breaching a    non-disclosure agreement by revealing    the sample size for the social media    platform's automatic user checks was 100    what really happened let us know more in    this video hello and welcome to elon    musk evolution    if you're a musk fan and don't want to    miss anything about this incredible    person then subscribe and click the bell    icon so you'll be notified every time a    new video is uploaded in today's video    we'll tell you about elon musk's twitter    deal that is called off and what really    went wrong    and let's get started twitter legal just    phoned to protest that i broke their nda    by stating the bot check sample size is    100 musk ceo of tesla tweeted musk    tweeted on friday that his 44 billion    dollars cash plan to take the firm    private was temporarily on hold while he    waited for data on the fraction of bogus    accounts twitter shares plunged more    than 20 percent in pre-market trade    although they recovered some ground    after musk the ceo of the electric    vehicle market tesla published a second    tweet declaring he remained committed to    the deal    on friday the shares fell 9.6 to forty    dollars and seventy one cents a    substantial discount from the    acquisition price of fifty four dollars    and twenty cents per share    musk the world's richest person decided    to forego due diligence when he agreed    to buy twitter on april 25th in an    effort to get the san francisco-based    firm to accept his best and last offer    which might make it more difficult for    him to establish the twitter misled him    since musk agreed to buy twitter    technology stocks have plummeted amid    investor concerns about inflation and a    probable economic downturn the    difference between both the offer price    and the value of twitter shares has    increased in recent days meaning that    the deal had less than a 50 percent    chance of being completed as investors    speculated that the slump might drive    musk to walk away or seek a cheaper    price twitter dlon hold temporarily    seeking information supporting    calculation that spam fake accounts do    really represent fewer than five percent    of users musk said to his 92 million    twitter followers    to verify my team will conduct a random    sample of 100 twitter followers musk    tweeted urging others to replicate the    procedure and see what they learn    we can definitely crowdsource a good    answer if we try to find out the bot    duplicate user percentage as a group    musk responded to a follower who    wondered why he hadn't considered this    before trying to acquire the firm by    tweeting that he had relied upon the    accuracy of twitter's public filings    musk's contract with twitter allows him    to request information about the    company's activities after the agreement    is signed    however this is intended to assist him    in preparing for his ownership of    twitter not to conduct due diligence and    resume discussions    according to those familiar with the    situation twitter has no imminent plans    to take action against musk as a result    of his comment    according to sources the company    considered the comment insulting and a    violation of the terms of their deal    contract but was pleased when musk later    tweeted that he was dedicated to the    acquisition    musk visited twitter's office on may 6th    for a meeting as part of the transaction    planning process according to a twitter    representative twitter ceo parag agrawal    also stepped in stating while i expect    the acquisition to close we need to be    prepared for all situations aggro will    declared leadership changes and a hiring    freeze on thursday    spam or bogus accounts are created with    the intent of manipulating or    artificially increasing activity on    platforms such as twitter some people    give the idea that something or someone    is more popular than they are    musk mentioned the bogus account data in    a report from 10 days earlier twitter    has stated that the figures are    estimates and that the true number could    be higher according to twitter's    regulatory filings the estimated total    of spam accounts on the microblogging    site has remained below 5 since 2013    prompting some analysts to wonder why    musk was trying to raised it now this    five percent indicator has been out for    some time he definitely must have seen    it so it may well be more part of the    plan to lower the price said an analyst    musk's representatives did not respond    to requests for comments reports say    tesla's shares increased by 5 on friday    since musk declared a stake in twitter    on april 4th the shares have lost    approximately a quarter of their value    amid concerns that he may become    preoccupied as tesla's ceo and that he    may have to sell more tesla shares to    fund the transaction    there is more than enough precedent for    a possible price renegotiation following    a market slump    when the pandemic broke out in 2020    causing a global economic shock several    firms repriced agreed upon acquisitions    for instance the french retailer lvmh    threatened to pull out of an agreement    with tiffany and company the jewelry    retailer in the united states agreed to    reduce the price by 425 million dollars    to 15.8 billion dollars acquirers    looking for a way out may invoke    substantial adverse effect clauses in    their merger agreement claiming that the    target firm has been significantly    harmed however the language in the    twitter transaction agreement as in many    previous mergers does not allow musk to    walk away due to a deteriorating    business climate like a decline in    advertising demand or a drop in    twitter's stock price    musk is contractually forced to pay a 1    billion dollar breakup fee to twitter if    the acquisition is not completed however    the contract includes a particular    performance language that a judge can    invoke to compel musk to finish the    transaction in general acquirers who    lose a specific performance case are not    really required to complete an    acquisition and instead usually reach a    monetary settlement with their targets    musk has stated that if he purchases    twitter he will destroy the spambots or    die trying blaming the company's    reliance on advertising for allowing    spam bots to proliferate he has also    criticized twitter's moderation policies    and stated that he wants twitter's    algorithm to prioritize public messages    musk announced this week that he would    lift twitter's restriction on former us    when president donald trump purchases    the social media site he is indicating    his goal to reduce moderation    trump who founded a competing social    media program called truth social    weighed in on friday there is no way    elon musk is going to acquire twitter    for such a ludicrous price especially    after discovering it as a corporation    mostly built on bots or spam accounts    trump stated in a post adding the decide    is far superior on the other hand two    senior twitter executives who manage the    consumer and revenue divisions will    leave the social media company chief    executive officer perag agrawal    announced in a memo to employees on    thursday in one of the most significant    shake-ups at the company since    billionaire elon musk revealed his 44    billion dollars purchase in the memo    agarwal also stated that twitter would    stop most hiring and analyze all    existing job offers to decide whether    any should be pulled back    he blamed the decision in part on    twitter's inability to meet user growth    and revenue milestones in order to    preserve confidence that it could meet    aggressive growth ambitions set for 2020    we must be intentional about our teams    hiring and costs agrawal wrote the    company had planned to generate 7.5    billion    in annual revenue and 315 million daily    users by the end of 2023 but in its most    recent earnings report it lowered those    targets kavan baker who supervised    twitter's consumer division and bruce    falk who oversaw revenue both posted on    thursday that the departures were not    their choice    perag requested me to depart after    letting me know that he wanted to take    the team in another path baker tweeted    adding that he was still on twitter    paternity leave i'll clarify that i too    was sacked falc stated before deleting    the tweet in the tweet thread falc    praised his staff and changed his bio to    unemployed we were able to accomplish    the outcomes we did because of your work    and effort quarterly revenue does not    lie google it he explained jay sullivan    who was in charge of the consumer    division during baker's absence will    become the division's permanent leader    aggregal stated in the memo that he will    also manage the revenue team until a new    head is chosen while no layoffs are    anticipated aggro stated that twitter    will lower its expenditures on    contractors travel marketing and real    estate with that being said what do you    think will happen next will elon musk    pay the 1 billion dollars break up fear    still pursue the acquisition    comment down your thoughts below    and that's for today's video