The disclosure that Twitter's bot assessment is based on monitoring 100 undisclosed accounts. External audits commonly find 10%-15%. Apparently some have found up to 95% of accounts are fake.
All of which provides for a contractual out for misrepresentation by Twitter, which also creates criminal and civil liabilities for the executives and the board. Falsified SEC filings is a crime. As is every sales they've made to advertisers about users.
All of which creates huge financial liabilities for Twitter and a prospective new owner.
Exactly!
The lawyers are gathering like sharks. This could be the biggest feeding frenzy ever!
I think were about to see some talmudic lawyering. They will say its a generally accepted account principle (GAAP) to say bots are only 5% of your user base. All social media does it. The Biden controlled SEC will agree.
(post is archived)