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Lying about the total number of users? For this, this social media platform has to pay

The greater the number of people, the greater the value of your social media platform will become. It’s not sensible, though, to tell lies about this. That’s going to cost a platform a lot of money now!

While social media companies like Facebook and Twitter do produce money, it’s not always enough to cover their expenses. The key value is in the sheer quantity of people who can access it. This figure denotes the company’s value. And this has the potential to be really significant. Large platforms are now listed, and as the number of users grows, so does the price. The same is true of Twitter. She insinuated that they had a larger user base than they actually have.

‘Lying’ about other people’s use of social media

There is nearly always an out when you tell a falsehood. Even in large tech firms. A class action lawsuit against Twitter has been settled for a cool $809 million in cash. Prosecutors claimed the corporation provided false statistics about the number of active users. The case goes back to 2016, and according to the indictment, the business suppressed information. In other words, the network expanded more slowly. Evidently, this is done in an effort to maintain the stock price high.

settlement

The plaintiffs in the case claim that Twitter began matching user activity with the platform’s user base as early as 2015. However, the amount of active users was not disclosed by the company. In other words, if growth was slowing or perhaps dropping, they wouldn’t have done it. That’s bad news for a company’s stock price.

As far as Twitter is concerned, the agreement does not constitute an admission of guilt. “No judgement of blame, culpability or misbehaviour,” they claim in the agreement. This has to be written by a lawyer, there’s no way around it. The California court will have to agree, in any case. The corporation will reimburse them if they violate this policy. Even Twitter will suffer as a result of this.

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