{"id":241592,"date":"2022-06-07T05:00:00","date_gmt":"2022-06-07T04:00:00","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=241592"},"modified":"2022-06-07T03:13:44","modified_gmt":"2022-06-07T02:13:44","slug":"texas-to-launch-investigation-into-twitter-5-bots-claim","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/texas-to-launch-investigation-into-twitter-5-bots-claim\/","title":{"rendered":"Texas to launch investigation into Twitter 5% bots claim"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Texas Attorney General Ken Paxton has <\/span><a href=\"https:\/\/www.texasattorneygeneral.gov\/news\/releases\/ag-paxton-launches-investigation-against-twitter-potentially-deceiving-texas-consumers-texas\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> that his office is launching an inquiry into Twitter's bot reporting as it might violate the Texas Deceptive Trade Practices Act.\u00a0<\/span><\/p>\n<p>The social media company claims that the bot accounts on its platform are less than 5%, but the AG's office says this might be false as bots accounts could be as high as 20%.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Now, we know we aren\u2019t perfect at catching spam. And so this is why, after all the spam removal I talked about above, we know some still slips through. We measure this internally. And every quarter, we have estimated that &lt;5% of reported mDAU for the quarter are spam accounts.<\/p>\n<p>&mdash; Parag Agrawal (@paraga) <a href=\"https:\/\/twitter.com\/paraga\/status\/1526237585441296385?ref_src=twsrc%5Etfw\">May 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400;\">According to AG Paxton, he has to protect Texans from Twitter if it is &#8220;misrepresenting how many accounts are fake to drive up their revenue.&#8221;<\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The social media site has until June 27 to produce documents on how it calculates and manages its user data and connects these numbers to Twitter's advertising businesses.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In his words:<\/span><\/p>\n<blockquote>\n<p style=\"font-weight: 400;\"><strong>Texans rely on Twitter\u2019s public statements that nearly all its users are real people. It matters not only for regular Twitter users but also Texas businesses and advertisers who use Twitter for their livelihoods.<\/strong><\/p>\n<\/blockquote>\n<h2>Elon Musk and Twitter bots<\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Twitter, in recent times, has faced increased scrutiny over the number of bots accounts on its platform. Its refusal to provide information on this issue has led to a standstill in <a href=\"https:\/\/cryptoslate.com\/people\/elon-musk\/\">Elon <\/a>Musk's\u00a0<\/span><a href=\"https:\/\/cryptoslate.com\/elon-musk-buys-twitter\/\"><span style=\"font-weight: 400;\">attempt<\/span><\/a><span style=\"font-weight: 400;\"> to purchase the firm.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">According to a <\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001418091\/000110465922068347\/tm2217761d1_ex99-o.htm\"><span style=\"font-weight: 400;\">securities filing<\/span><\/a><span style=\"font-weight: 400;\"> released on June 6, Musk's lawyers wrote that the social media giant was &#8220;actively resisting and thwarting (Musk's) information rights&#8221; \u2014 an action that can be described as a &#8220;material breach.&#8221;<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The billionaire also threatened to walk away from the deal if the firm refused to provide the requested data.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Meanwhile, <\/span><a href=\"https:\/\/sparktoro.com\/blog\/sparktoro-followerwonk-joint-twitter-analysis-19-42-of-active-accounts-are-fake-or-spam\/\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> from SparkToro suggests that 70% of Elon Musk's followers on Twitter may be bots.\u00a0<\/span><\/p>\n<h2>Twitter shares tank<\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Since Elon Musk revealed his intention to <\/span><strong><a href=\"https:\/\/cryptoslate.com\/us-watchdog-says-it-cannot-block-musks-twitter-purchase\/\">buy Twitter<\/a><\/strong><span style=\"font-weight: 400;\"> at $54.20 per share, the shares of most tech companies have tanked. For context, Twitter shares <\/span><a href=\"https:\/\/finance.yahoo.com\/quote\/TWTR\/\"><span style=\"font-weight: 400;\">fell<\/span><\/a><span style=\"font-weight: 400;\"> by 5% in the early trading hours of June 6.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This shows that if Musk goes ahead with the deal at the current share prices, he would be overpaying for the company.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There is little to no wiggle room for him to walk away from the deal as the offer has been <\/span><a href=\"https:\/\/www.theguardian.com\/technology\/2022\/may\/17\/what-are-elon-musk-options-in-the-twitter-takeover-deal#:~:text=Is%20the%20deal%20legally%20binding,by%20signing%20a%20formal%20agreement.\"><span style=\"font-weight: 400;\">accepted<\/span><\/a><span style=\"font-weight: 400;\"> by the Twitter board, meaning it is legally binding.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, if he insists on ending the deal, Musk might still have to <\/span><a href=\"https:\/\/www.reuters.com\/technology\/musk-may-have-pay-1-billion-if-he-terminates-twitter-deal-filing-2022-04-26\/\"><span style=\"font-weight: 400;\">pay<\/span><\/a><span style=\"font-weight: 400;\"> a $1 billion termination fee.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Texas Attorney General Ken Paxton has revealed that his office is launching an inquiry into Twitter&#8217;s bot reporting as it might violate the Texas Deceptive Trade Practices Act.\u00a0 The social media company claims that the bot accounts on its platform are less than 5%, but the AG&#8217;s office says this might be false as bots [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":241630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60205,35372,60793],"tags":[75503,77791,75505],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - 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