Jack Dorsey, The Co-Founder And Former CEO Of Twitter, On Monday Praised Elon Musk's $44 billion Deal To Take The Service Private As "The Correct First Step"

Twitter co-founder and former CEO Jack Dorsey called Elon Musk’s $44 billion plan to take the site private “the right first step” on Monday.

After Twitter’s board of directors earlier in the day overwhelmingly approved Musk’s unsolicited offer for the social media platform, Dorsey publicly declared his support for Musk.

“My one grievance and major regret has always been with Twitter as a business. Wall Street and the advertisement model have owned it. The right first step is to take it back from Wall Street, Dorsey stated in a string of tweets.

Dorsey continued by saying that he doesn’t think Twitter should be owned or governed by anyone. At the protocol level, it aims to be a public good, not a business. Elon is the only one I trust to address the issue of it being a company, though. In his tweets, Dorsey stated, “I believe in his mission to spread the light of consciousness.

The richest man in the world, Musk, made an open offer to purchase Twitter earlier this month. Although it was initially anticipated that the firm would reject the offer, it is said to have changed its mind once Musk revealed his financing strategy, which includes support from investment bank Morgan Stanley.

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.
— jack (@jack) April 26, 2022

While Musk is a frequent Twitter user and has 83 million followers, he is also one of the platform’s most vocal detractors. The businessman has expressed his desire for looser content control on Twitter and has publicly questioned how the company manages content.

“Elon is on the right track when he says he wants to build a platform that is’maximally trusted and broadly inclusive. This is exactly @paraga’s objective, which is why I picked him. We appreciate your efforts in saving the business from a hopeless predicament. This is the way to go… I firmly believe it,” tweeted Dorsey, referring to Parag Agrawal, the CEO of Twitter at the time.

In November, Dorsey, who co-founded Twitter 16 years ago, resigned as its CEO and handed the reins to Agrawal, who was at the time the company’s chief technology officer. The leadership change occurred as politicians and investors looking for higher returns and increased scrutiny of Dorsey and Twitter’s political speech moderation procedures.

Since Dick Costolo’s retirement as CEO of the social network in 2015, Jack Dorsey has been in that position. Starting in 2007, Dorsey also briefly served as Twitter’s first CEO before being let go 16 months later.

Jack Dorsey, The Co-Founder And Former CEO Of Twitter, On Monday Praised Elon Musk’s $44 billion Deal To Take The Service Private As “The Correct First Step”

Twitter co-founder and former CEO Jack Dorsey called Elon Musk’s $44 billion plan to take the site private “the right first step” on Monday.

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