On Monday, Twitter co-founder Jack Dorsey welcomed Elon Musk’s proposed hostile acquisition of the social media business, which he described as “a fantastic opportunity.” Musk and the board of directors of Twitter have struck an agreement under which the billionaire creator of SpaceX would pay $44 billion to take the business private.
And although Dorsey is no longer the CEO of Twitter and ultimately had little say in the issue, apart from participating on the company’s Board of Directors, it’s intriguing that the guy who sent the platform’s first-ever tweet in 2006 would add, “Elon is the solitary answer in which I have confidence.” “Twitter is my favorite social media platform. Dorsey stated in a second tweet, which followed a link to Radiohead’s 2000 song “Everything in its Right Place,” that Twitter “is the closest thing we have to a global consciousness” at the moment.
“The concept and the service are all that important to me, and I will go to any length to ensure that both are protected.” Twitter as a corporation has always been my one and only beef, as well as my greatest regret. Wall Street and the advertising model have both owned the company. Making the decision to take it back from Wall Street is the right first step,” Dorsey concluded.
Afterward, Dorsey waxed philosophical, adding that he doesn’t believe anybody should be able to buy Twitter outright. Musk, on the other hand, is the one who should possess it if anybody is going to do so.
“In principle, I do not think that anybody should be allowed to own or operate Twitter. It aspires to be a public benefit at the protocol level, rather than a business. When it comes to the dilemma of it being a corporation, Elon Musk is the only person I trust to provide a solution. “I have faith in his goal to spread the light of awareness,” Dorsey said on Twitter.
Because he has so much money, it is understandable for Dorsey to assert that no one should be allowed to own Twitter. Dorsey’s net worth is projected to be about $7.3 billion, something that would have been impossible to achieve without private ownership of the platform he co-founded and worked to build.
Interestingly, Dorsey went on to say that current CEO Parag Agrawal was doing an excellent job and that his goal for the firm was similar to Musk’s vision, which is just wrong and clear to anybody who has followed Musk’s critiques of current leadership.
This objective of building a platform that is “maximally trustworthy and widely inclusive” is exactly what Elon should be pursuing. This is exactly @paraga’s objective, and that is one of the reasons I selected him. Thank you both for your efforts in rescuing the firm from an untenable predicament. This is the correct course of action… “I really believe it with all my heart,” Dorsey said on Twitter.
According to Musk’s filings with the Securities and Exchange Commission, the billionaire Tesla CEO does not believe that Twitter’s corporate leadership is on the correct path. To the point that he threatened to sell his 9.2 percent stake in the firm if his hostile takeover offer failed, Musk has shown his lack of confidence in Twitter’s present management.
As Musk stated in documents filed with the Securities and Exchange Commission two weeks ago, “If the deal doesn’t work, given that I don’t have confidence in management and do not believe I can drive the necessary change in the public market,” he would have to “reconsider my position as a shareholder.”
“This is not a threat,” Musk said in a menacing manner in his statement with the SEC. “It’s just not a good investment until and until the necessary modifications are implemented.”
However, even though Dorsey and Musk don’t necessarily agree on who should be in charge of Twitter, their approaches to the social media network are very similar.
According to Musk, the main difference between him and Dorsey is that Musk is far pettier than Dorsey, constantly blocking individuals on the platform who he does not agree with, whilst Dorsey seems to take criticism in stride. “I’m overjoyed that Twitter will continue to serve the public discourse. “All the way around the planet and into the universe!” Dorsey ended his thread with a tweet to close it off.
Source: Read Original Article by Gizmodo