Twitter my biggest regret, founder, Jack Dorsey, says after Elon Musk acquisition

 

The founder of Twitter, Jack Dorsey, said the social media company is his biggest regret, complaining about investors at Wall Street, a Financial District in United States, taking over the microblogging site.

Dorsey said while he doesn’t support one person owning Twitter, he believes the firm shouldn’t be controlled by the Wall Street investors, so Musk’s acquisition is right for the company.

Ripples Nigeria had reported that Musk acquired Twitter on Monday, parting with about $43 billion to privately own the social media platform. The billionaire had raised $46.5 billion to fund the deal.

Dorsey made the comment via Twitter on Tuesday, stating that the platform had always been his sole issue and biggest regret, and he would do whatever it takes to protect the company.

He said Musk is the only solution he trusts to solve the issues that have trailed Twitter due to the involvement of investors. Note that there are about seven Wall Street institutional investors in the firm.

Some of the issues include restriction on free speech, which has seen some users get suspended from the platform over comments made that don’t sit well with the community termed “woke”.

Musk has always criticised the restriction, saying there’s need for total freedom. In late March, he held a poll “Do you believe Twitter rigorously adheres to this principle? (Free Speech)?”, over 2.03 million users voted, with 70 percent voting against Twitter and 30 percent in support.

He said that poll was crucial to Twitter’s future, and a week later, it was announced that the billionaire was planning to acquire the company, a move that surprised many.

So with the acquisition, Dorsey stated that Musk and Twitter CEO, Parag Agrawal, have taken Twitter out of an “impossible situation”. It was gathered that both Musk and Agrawal share same ideology about the direction the platform should take, and Dorsey said that’s why he chose Agrawal to be the CEO when the founder stepped down.

In his words, “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.

“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 (Twitter CEO) 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.” he wrote.