Twitter Must Now Prove It Did Not Falsify S.E.C. Filings

Is Twitter the next Enron?

That’s where Candace Owens thinks the fate of the social media giant is now heading, and she may be embellishing a bit here, but maybe she isn’t so far off the mark…

I previously wrote that Elon Musk was speculating on whether or not 90% of daily user activity on the network could be attributed to automated bots.

Sources are placing that number closer to 20%, but this is still a far cry from Twitter’s reported numbers which indicate that automated bot activity is well under 5%; these are the numbers reportedly mentioned in their S.E.C. filing.

To put the issue into sharper focus, it has been reported that up to 50% of Joe Biden’s followers could potentially be automated bots.

We won’t know just how bad the bot problem is until the company is forced to reveal the numbers as a part of Elon Musk’s ongoing bid to buy the company…

Sources claim that Twitter is dancing around the release of these numbers because it would directly contradict the numbers they reported in their S.E.C. filings….

This could spell enormous legal trouble for the social media platform, as it will be found that they have essentially committed large scale fraud.

20-90% of their users are potentially fraudulent—they don’t exist. The company has been selling stock and receiving valuations based off of the numbers they have been reporting—not the true daily user count.

Aside from a regulatory nightmare, this could potentially spark class-action lawsuits, and a bevy of smaller lawsuits from individual investors.

Twitter may not be as fraudulent as Enron, but it may end up becoming the financial scandal of our decade…

Here’s more on the story:

Elon Musk may be looking for a better Twitter deal as $44 billion seems too high with 20% of users being fake or spam accounts.https://t.co/rZ9Jsn60Mh pic.twitter.com/dQDVva3klZ

— TESLARATI (@Teslarati) May 17, 2022

Twitter is going to become the story of Enron.

Lying to shareholders and using false accounting of bot accounts to do so is dangerous territory.

— Candace Owens (@RealCandaceO) May 17, 2022

According to Insider Paper:

Musk stated at a conference in Miami that Twitter could have at least four times the number of fake accounts revealed in its filing.

“You can’t pay the same price for something that is much worse than they claimed,” he said during the event late on Monday.

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“Currently what I’m being told is that there’s just no way to know the number of bots. It’s like, as unknowable as the human soul,” he added.

 

Fresh @elonmusk interview, courtesy @theallinpod :https://t.co/WmIbsqxuVY

— James Stephenson (@ICannot_Enough) May 17, 2022

'FAKE NEWS!' A tool created by the software company SparkToro found that almost half of President Joe Biden's 22.2 million Twitter followers were "spam bots." https://t.co/APE7ttIyWj pic.twitter.com/GTn4mpnpwg

— NEWSMAX (@NEWSMAX) May 17, 2022

Newsweek claims that up to 50% of Biden’s followers may, in fact, be bots:

SparkToro’s tool found that 49.3 percent of accounts following the official @POTUS Twitter account are “fake followers” based on analysis of a number of factors, including location issues, default profile images and new users.