Jack Dorsey, the co-founder and former CEO of Twitter, has responded to Twitter’s acceptance of Tesla CEO Elon Musk’s $44-billion bid for the microblogging platform.
Dorsey, in a Twitter thread, said he saw Musk as the “singular solution” to ensure Twitter remained “a public good at a protocol level, not a company”.
“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,” wrote Dorsey.
Dorsey further added that Musk’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one, stating this was also current CEO Parag Agrawal’s goal, and why he chose him.
Twitter, Inc on Monday announced it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash, in a transaction valued at approximately $44 billion. The company will become a privately held one on completion of the transaction.
Musk, in a statement, hailed free speech post the announcement. “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,” he said. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it,” he added.