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Elon Musk’s Twitter Buyout ‘Cannot Move Forward’ Until Number of Bot Accounts Are Verified – IGN – IGN

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Tesla CEO Elon Musk has declared his Twitter buyout “cannot move forward” until the social media site verifies the number of bots on the platform.

Musk had previously somewhat vaguely declared the deal was “temporarily on hold” until he confirmed that less than 5% of accounts were false or spam accounts, as per Twitter’s estimations.

Hesitating even more, however, Musk today tweeted that “Twitter’s CEO publicly refused to show proof of <5%,” adding that “this deal cannot move forward until he does”.

Musk said his own research deduced that Twitter had 20% fake or spam accounts but claimed that “could be much higher”, and his offer was based on Twitter’s numbers being accurate.

The “public refusal” to give proof likely referred to Twitter CEO Parag Agrawal’s series of tweets yesterday (May 16) that defended Twitter’s justification for the less than 5% number.

“Let’s talk about spam. And let’s do so with the benefit of data, facts, and context…” Agrawal said, going on to give a number of methods of spam detection and removal that Twitter uses. “Our actual internal estimates for the last four quarters were all well under 5%.”

Musk replied to the explanation with the poop emoji and, in a user poll that asked if he’s being honest (in which 50% of people said no”, Musk replied again saying “interesting”.

Announcing the buyout was on hold on May 13 was the first hesitation Musk had displayed since his offer to buy Twitter for $44 billion was accepted on April 25.

Musk had otherwise been incredibly vocal and public about the deal, including his plans for the company, meaning the hesitation tweets were in significant contrast to his and Twitter’s previous attitude over the buyout.

The social media giant’s founder Jack Dorsey called Musk “the singular solution I trust” in a series of tweets celebrating the sale.

Thumbnail image credit: JIM WATSON/AFP via Getty Images

Ryan Dinsdale is an IGN freelancer who occasionally remembers to tweet @thelastdinsdale. He’ll talk about The Witcher all day.

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

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CPC Practice Exam

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