Elon Musk hints at paying less for Twitter than his USD 44 billion offer
Detroit (US)(AP): Tesla CEO Elon Musk gave the strongest hint yet Monday that he would like to pay less for Twitter than his USD 44 billion offer made last month.
Musk told a Miami technology conference that a viable deal at a lower price would not be out of the question, according to a report by Bloomberg News, which said it viewed a livestream video of the conference posted by a Twitter user.
Also at the All In Summit, Musk estimated that at least 20 per cent of Twitter's 229 million accounts are spam bots, percentage he said was at the low end of his assessment, according to the report.
The appearance came a few hours after Musk began trolling Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 per cent of Twitter accounts are fake.
In all, the day's events bolstered theories from analysts that Musk either wants out of the deal or is seeking a lower price, largely due to a huge decline in value of Tesla stock, some of which he has pledged to finance the Twitter acquisition.
Twitter shares closed Monday down just over 8 per cent at 37.39, below where the stock was just before Musk disclosed that he was Twitter's largest shareholder. Musk made the offer to buy Twitter for 54.20 per share on April 14.
On Friday Musk tweeted that his plan to buy Twitter was placed on temporary hold as he tried to pinpoint the number of fake accounts on the social media platform. The Tesla and SpaceX CEO said the hold was pending details of Twitter's calculation that fake accounts are less than 5 per cent of its users.
In tweets on Monday, Agrawal acknowledged Twitter isn't perfect at catching spam. He wrote that every quarter, the company has made the estimate of less than 5 per cent spam.
Our estimate is based on multiple human reviews of thousands of accounts that are sampled at random, consistently over time, Agrawal wrote.
Estimates for the last four quarters were all well under 5 per cent, he wrote. The error margins on our estimates give us confidence in our public statements each quarter.
Musk, using his favourite platform, responded with a smiling emoji of poop, then asked how Twitter's advertisers know what they're getting for their money.
Tesla shares closed Monday down nearly 6 per cent at USD 724.37. They have lost about one-third of their value since the trading day before Musk disclosed his Twitter stake.
Musk did not immediately return messages seeking comment. The All In Summit said in an email that it would post the video of Musk's appearance in the coming days.
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Centre in SC 'strongly' opposes setting up ex judges panel to monitor stubble burning
New Delhi, Nov 22: The Centre on Friday opposed in the Supreme court a proposal to form a committee of former apex court judges to oversee the implementation of measures to curb stubble burning, a key contributor to Delhi-NCR’s air pollution.
The suggestion was put forth before a bench of Justices Abhay S Oka and Augustine George Masih, hearing a case related to the rising pollution in Delhi-NCR, by senior advocate and amicus curiae Aparajita Singh.
She sought to leverage the expertise of judges as part of the proposed fact-finding committee.
The amicus said the judges had previously dealt with air pollution and stubble burning issues.
A bench headed by former Supreme Court's Justice Madan B Lokur had heard pleas related to pollution and the role of stubble burning as a contributing factor in the past.
In 2020, a bench headed by the then CJI Justice S A Bobde set up a panel headed by Justice Lokur to deal with the issues relating to stubble burning. The order was later recalled.
On Friday, the amicus curiae proposed that a committee of these judges could monitor and hear all stakeholders, including farmers and government authorities, for a comprehensive approach to address the crisis.
"A committee of experienced judges familiar with these issues could efficiently oversee the situation and hear individual grievances,” said Singh.
The proposal, however, was met with strong resistance from Additional Solicitor General Aishwarya Bhati, representing the Centre.
Bhati asserted the Centre and the Commission for Air Quality Management (CAQM) were taking adequate measures and that adding another oversight layer would be counterproductive.
"We strongly oppose this suggestion. There is no need for an additional judicial committee as your lordships are already monitoring the situation. We are answering all concerns, correcting shortcomings, and making progress,” said ASG Bhati while opposing the creation of "any more tier".
The amicus clarified her suggestion was for a fact-finding committee, but Bhati countered the statement, saying the government was already working with the available data and frameworks to address the issue effectively.
During the hearing, senior advocate Gopal Sankaranarayanan highlighted that changes in the timing of stubble burning, coupled with seasonal wind patterns, had worsened Delhi’s air quality.
The amicus curiae further flagged discrepancies in data reported by the CAQM and other sources regarding burnt areas in Punjab and Haryana.
"The burnt area in Punjab has increased to 19.1 lakh hectare from 15.1 lakh hectare in 2021, a 24% rise. Similarly, Haryana’s burnt area rose from 3.5 lakh hectare in 2021 to 8.3 lakh hectare in 2023. This contrasts with CAQM data, which claims a reduction in farm fires in Haryana,” Singh said, raising concerns about the accuracy of official reports.
The ASG defended the CAQM’s methodology, arguing that reliance on unverified sensors would undermine the process.
The amicus curiae, however, emphasised the need for scientifically validated protocols involving experts, with Punjab and Haryana also participating in the efforts.
The bench observed that while satellites could detect farm fires, burnt area showed their exact extent.
"We would like to have that data," it said.
In an order on November 18, the top court directed the Centre and the CAQM to procure farm fire data using geostationary satellites, as opposed to NASA’s polar-orbiting satellites, to ensure real-time monitoring.
The court noted that existing data from NASA satellites was limited to specific time windows and directed the involvement of ISRO in utilising stationary satellites for comprehensive day-long monitoring.
The court will review compliance with these directions and the latest developments on stubble burning measures in its next hearing.
