Twitter founder Jack Dorsey regrets Elon Musk purchase
Jack Dorsey, the creator of Twitter, claimed the microblogging service is his worst regret, blaming Wall Street investors.
Dorsey added that although he opposes one individual controlling Twitter, he thinks Wall Street investors should not control the business.
Musk bought Twitter for $43 billion on Monday, according to Ripples Nigeria. The acquisition cost the billionaire $46.5 billion.
Jack Dorsey said on Twitter on Tuesday that he will do all it takes to preserve the firm.
He believes Musk is the only answer to Twitter’s problems caused by investors. The business has about seven Wall Street institutional investors.
Some of the difficulties include censorship of free expression, which has resulted in some users being banned from the network for making offensive remarks.
For Musk, unfettered independence is a need. His poll “Do you think Twitter strictly conforms to this principle? (Free Speech)?” received over 2.03 million votes, with 70% voting against Twitter and 30% voting in favor.
A week later, it was disclosed that the billionaire was seeking to purchase the firm, a decision that astonished many.
The purchase, according to Dorsey, has rescued Twitter from a “impossible situation”. Jack Dorsey said he picked Agrawal as CEO because he believes both Musk and Agrawal have the same vision for the platform.
“I adore Twitter,” he says. Twitter is our worldwide awareness. I just care about the concept and service, and I would do everything to safeguard them.
“Twitter as a corporation has always been my primary grievance. Wall Street and the ad model own it. Reclaiming it from Wall Street is the first step.
“I don’t think anybody should own or operate Twitter. It wants to be a protocol, not a firm. But on the issue of it being a firm, I believe Elon. I believe in his objective to spread awareness.