‘Twitter Is My Biggest Regret’ — Founder Reacts To Elon Musk’s Takeover
Founder and former CEO of Twitter, Jack Dorsey, has said that Twitter as a company has been his biggest regret.
Dorsey, while reacting to the recent sale of the company to billionaire businessman, Elon Musk, expressed how much he loves the app and the service it provides but noted that the company has been the only issue he had.
“I love Twitter. Twitter is the closest thing we have to a global consciousness. The idea and service is all that matters to me, and I will do whatever it takes to protect both.
“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,” he said.
Dorsey, who owned about 2.2% of Twitter before Musk purchased it, added that although he didn’t think any one person should own and run Twitter, Musk is the person he trusts to solve the problem of it being a company.
“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.
“Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s 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.
“I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!” Dorsey concluded.
Dorsey’s 2.2% adds up to about 18,042,428 shares which means that when the deal closes, he would receive more than $970 million.
THE WHISTLER reported that Twitter’s current CEO, Parag Agrawal, and its Independent Board Chair, Bret Taylor, both confirmed the sale and expressed their thoughts on the development.
“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” Agrawal said.
Taylor, on his part, said, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders”.
Musk confirmed yesterday that Twitter had accepted his offer to buy the company at $54.20 per share and take it private in a deal valued at $44 billion.
“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. I also want to make Twitter better than ever before by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans,” he said.