Twitter, which officially turned into Elon Musk’s company on October 28, has been drifting in great chaos since that day. Chaos is happening especially over the new Twitter Blue system and its consequences. The new system, which is charged $ 8 per month, also offers users the ‘blue tick’ badge, which is normally only given to approved and real accounts.
But every time trying to switch to the new application, a different problem was encountered. One of them was due to the fact that the difference between real and fake accounts was no longer understood at first sight. Moreover, this situation has even lost hundreds of thousands of dollars to some companies.
Fake accounts with blue ticks were opened on behalf of companies, Tweets were shared:
Some users on Twitter received a blue tick badge for the account they opened on behalf of a company by paying the $ 8 fee. In the shared tweet, the company name and blue tick were no different from the design on ‘true verified’ accounts. Therefore, the shared Tweets looked like they were made from a real account unless the profile was visited and the blue tick badge was clicked on.
Moreover, the shared Tweets caused serious decreases in the market value of some companies. Some of the companies that crashed with the Tweets shared from fake accounts and the posts on their behalf were as follows:
Lockheed Martin (US aerospace company)
“We will begin to halt all arms sales to Saudi Arabia, Israel and the United States until their record of human rights abuses is further investigated.”
Lockheed Martin’s stock has lost more than 5% after this fake Tweet.
Eli Lilly and Company (US pharmaceutical company)
“We are excited to announce that insulin is now free.”
Eli Lilly and Company’s loss exceeded 16%.
In addition to these two prominent losses, fake accounts were created on behalf of many large and small companies such as PepsiCo, Roblox, Nestle and Coca Cola. Many of the shares caused losses in the shares of the companies.
So what will be the result?
Twitter discontinued the new Twitter Blue service after these events, and did not make a statement while removing it. But the biggest reason for the abolition of the service was undoubtedly these events.
While it is clear that Twitter causes losses not only to companies but also to important names, there will of course be a movement against it. While a new one is added to the giant names that stop advertising on Twitter day by day, we can expect the event to be carried to the courtrooms.
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