JP Morgan CEO Jamie Dimon speaks astatine the Boston College Chief Executives Club luncheon successful Boston, Massachusetts, U.S., November 23, 2021.
Brian Snyder | Reuters
Jamie Dimon appears to beryllium a instrumentality of Elon Musk's $44 cardinal Twitter takeover.
"I anticipation Musk cleans up Twitter," the JPMorgan CEO told CNBC's Julianna Tatelbaum, adding helium thinks Musk should look into eliminating anonymous accounts from the site.
The remarks are Dimon's archetypal specifically talking astir the Musk-Twitter deal, which was revived past week aft a caller bid from the Tesla CEO to bargain the societal media level astatine the $54.20 a stock terms they initially agreed connected backmost successful April.
In a CNBC interrogation astatine the JPM Techstars league successful London which aired Tuesday, Dimon echoed Musk's concerns astir the fig of spam accounts on Twitter, and said the institution should springiness users much power implicit its proposal algorithms.
"Why can't Twitter cognize who you are erstwhile you travel connected board, truthful they tin destruct each those radical successful the nationalist quadrate who are robots and emails and worldly similar that?" Dimon said.
"Why can't they springiness you a prime of algorithms? As opposed to 1 that conscionable jazzes you up," helium added.
Musk has made nary secret of his concerns with fake accounts connected Twitter. In an April connection announcing his volition to bargain the company, Musk spoke of "defeating the spam bot, and authenticating each existent humans." He said helium besides wants to marque Twitter's ranking algorithm unfastened root and beforehand escaped code connected the platform.
'Elon is precise smart'
Dimon's comments jar with immoderate behind-the-scenes clashes betwixt the 2 firm leaders.
In November 2021, JPMorgan sued Tesla for $162.2 cardinal for allegedly breaching a 2014 declaration relating to banal warrants that Tesla sold to the bank.
The suit centered connected a quality implicit however the slope repriced the warrants pursuing Musk's infamous 2018 take-private tweet.
The suit was the taxable of a report by the Wall Street Journal that said Musk and Dimon person ne'er gotten along. Per the Journal, the pair's efforts to spot things up didn't enactment out, and JPMorgan has agelong distanced itself from Tesla and Musk.
On Monday, however, Dimon praised Musk. "In my view, Elon is precise smart," helium said.
'They're large boys'
JPMorgan was notably absent from the roster of banks lining up to supply $13 cardinal successful indebtedness financing for Musk's acquisition of Twitter, with Morgan Stanley, Bank of America and Barclays among the lenders that agreed to rise the funds.
However, a deterioration successful recognition markets has led to worries implicit however Musk's financing volition travel together. According to Bloomberg calculations, banks could beryllium connected the enactment for losses of $500 cardinal oregon much if they proceed with selling the indebtedness now.
"They're large boys, they tin woody with it," Dimon said erstwhile asked astir the financing concerns.
Twitter and Musk person been successful an endless back-and-forth implicit whether to spell done with the deal. Musk is acrophobic the institution isn't doing capable to tackle manipulation of the level via bots. Twitter says it has been honorable with Musk successful disclosing however galore of its users are authentic.
In April, Musk and Twitter agreed to person the societal media steadfast acquired by the Tesla CEO for $54.20 a share. In July, Musk attempted to backmost retired of the deal, citing reddish flags astir the company's handling of bots. Twitter subsequently sued Musk successful an effort to unit him to implicit the deal.
Twitter and Musk were owed to spell to proceedings connected Oct. 17 successful Delaware to resoluteness the billionaire's effort to cancel the acquisition unless they reached a colony first. Musk wanted Twitter to extremity its litigation against him to finalize the deal. However, Twitter refused to oblige.
Musk won a flimsy reprieve connected Thursday, with a Delaware Chancery Court justice ruling helium present has until Oct. 28 to adjacent the woody if helium wants to debar trial.