With billionaire Elon Musk and Twitter’s board sealing the deal to take the social media platform private, Twitter-co founder Jack Dorsey can’t be happier. Dorsey, who was once the CEO of the company himself, said taking Twitter back from Wall Street is the “correct first step”. And “Elon is the singular solution I trust,” Dorsey added, late Monday night, Washington time.
“In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness,” Jack Dorsey said, in a series of tweets, after posting the song ‘Everything is in the right place’ by an English band Radiohead. On public forums, Dorsey and Musk have been on a friendly note, and have shared belief on the future of cryptocurrencies.
Dorsey added that Elon (Musk)’s goal of creating a social media platform that is “maximally trusted and broadly inclusive” is the right one. “This is also @paraga’s (Parag Agrawal Chief Executive Officer of Twitter) goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart,” Dorsey said.
World’s richest person Elon Musk, who claims to be a free speech absolutist, proposed to take Twitter private, in a $44 billion deal in an aim to fix Twitter’s content moderation. In a tweet Monday night Musk said, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” Musk also wants to make Twitter better by enhancing the product with new features, making the algorithms open source to increase trust, remove the spam bots and authenticating humans.
“Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step,” Dorsey said in a tweet. “I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!,” Dorsey said in the tweet.
Dorsey co-founded Twitter sixteen years ago with Biz Stone and Evan Williams. Dorsey has had his share of ups and downs with the Twitter board and was enmeshed in disagreements with the company’s management in the past. He was fired from the company in 2008 though he rejoined it in 2015 as the company’s chief executive. He later stepped down as the CEO last year and has plans to step down from the board as well this year. Earlier in April, Dorsey said Twitter’s board has “consistently been the dysfunction of the company.
This story was first published on FinancialExpress.com on April 26, 2022.