Twitter founder and former CEO Jack Dorsey admitted he was wrong when he said that Elon Musk was the “only solution” He trusted the company and lashed out at his friend who once had a $44 billion fortuneA million acquisitions even after buyer’s remorse.
I finish Bluesky’s Twitter competitora decentralized network similar to the Mastodon that Dorsey helped createthe former Twitter leader hit hard Tone on the subject of Musk and stated that it was important to build something new that would avoid the fate of Blue Bird. In the nearly seven months since Musk took office, Twitter hairstyles made the company Coincidence for what it was, it is dominated by its new owner Upside down Commitment to “freedom of expression” And Prone to technical failures, even for advertisers.
Dorsey made his comments in in response to a question From a Bluesky user asked, “Do you think Elon has proven himself to be the best host possible for the platform? Answer seriously.”
“No,” Dorsey said on Friday. “And I don’t think he acted right after realizing his timing was bad.”
Dorsey also blamed Twitter’s board of directors, which Lawsuit to enforce company acquisition deal with musk in July 2022.
“And I don’t think the board should have forced the sale. “Everything went south. But it did and all we can do now is build something to prevent it from happening again. So I’m glad (Bluesky CEO) Jay and his team and nostr devs are here and building it.”
Dorsey funded the team that would become Bluesky when he was still CEO of Twitter in 2019, Little then that “the goal is for Twitter to eventually be a customer of this standard.” Bluesky announced in 2022 that Dorsey would join the company’s board of directors. Dorsey is also a frequent presence on nostrAnother decentralized protocol for social media 14 bitcoin (about $245,000 at the time) to fund its development last year.
Dorsey went on to say that he believes Musk should have just paid the $1 billion penalty in the takeover agreement to back out of the deal.
“I wish the board hadn’t forced the sale,” Dorsey said, according to a newspaper Washington Post. “I think he should have walked away and paid a billion dollars.”
But it is not as simple as Dorsey envisioned. As explained by CNBCThe $1 billion reverse termination fee only applies if there is an external reason why Musk could not complete the acquisition, such as receiving opposition from regulators or having trouble obtaining financing. However, this was not the case, which put Musk on the hook for a payment of more than $1 billion.
As for his role in the Twitter acquisition, Dorsey made it clear that while he endorsed Musk, he did not have the final say in approving the sale. He also agreed with a Bluesky user who said it was “very sad how that happened”.
Was I optimistic? Yes,” Dorsey wrote. “Did I have the final say? No.”