For a little bit of nuance, those non-m users would consist of: - bots, as you say - "legit" bots e.g. customer service - inactive accounts - accounts that

For a little bit of nuance, those non-m users would consist of: - bots, as you say - "legit" bots e.g. customer service - inactive accounts - accounts that use some alternate client (tweetdeck or whatever) - API users - possibly web accounts using ad block (depending on whether twitter measures literal ad views vs. "users logging in with a client that could show ads" - ... > Elon could be right that over half of Twitter's users are fake, and Twitter could be right that only 5% of the MDAUs are fake. While both could be right in their assertions, Elon is in the wrong in the big picture. All of this has been disclosed publicly and Twitter never claims that only 5% of users are bots, just 5% of monetizable users. Elon's claims of malfeasance or obfuscation are wrong. That's exactly my conclusion as well