Twitter co-founder and former CEO Jack Dorsey, as soon as a robust supporter of Elon Musk’s buy of the social media platform, now has some harsh phrases for the corporate’s new boss.
A 12 months in the past, Dorsey referred to as the billionaire’s proposed takeover a “singular resolution” for Twitter, writing that “I belief his mission to increase the sunshine of consciousness.” However when a person of fledgling social community Bluesky lately requested Dorsey if Musk has proved to be the best particular person to steer Twitter, Dorsey was blunt.
“No. Nor do I believe he acted proper after realizing his timing was unhealthy,” Dorsey wrote on Bluesky. “Nor do I believe the board ought to have pressured the sale. All of it went south.”
Musk reached a deal to buy Twitter in April 2022 for $44 billion, then changed his mind, finally ending up in court docket and finishing the acquisition in October.
Because the buy, the Tesla CEO has slashed Twitter’s staffing by about three-quarters and presided over a sequence of dizzying modifications, together with reinstating accounts that have been banned for rule violations, then re-banning a few of them after they broke the foundations once more; requiring customers to pay for “verified” standing; and leaning into the subscription mannequin. Musk has additionally stated the corporate is on the verge of chapter and vowed to step down as CEO of Twitter as soon as a alternative is discovered.
Dorsey wrote that “we did all the things to avert” Twitter’s failure, however that finally he was powerless to cease the sale.
“If Elon or anybody else wished to purchase the corporate, all they needed to do was identify a value that the board felt was higher than the corporate may do independently,” he wrote. “Was I optimistic? Sure. Did I’ve ultimate say? No.”
“He ought to have walked away”
Dorsey additionally stated Musk ought to have dropped the acquisition deal and paid a $1 billion penalty.
“I believe he ought to have walked away and paid the $1b,” Dorsey wrote.
Nonetheless, many specialists stated on the time that abandoning the deal would have value Musk way more than a $1 billion penalty written into the settlement.
Dorsey began backing Bluesky, a decentralized social software, in 2019, when he was nonetheless CEO of Twitter. The brand new social app is at present in non-public beta.
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