On Monday night, former Twitter CEO Jack Dorsey responded to the news that Twitter has agreed to be acquired by Elon Musk for approximately $44 billion, saying that Musk is the “singular solution” he trusts to fix the Twitter’s problems.
“I love Twitter. Twitter is the closest thing we have to a global consciousness,” Dorsey said. “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,” he continued. “Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s 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.”
On Monday, Twitter’s board of directors unanimously approved the sale of the company to Elon Musk.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter’s Independent Board Chair Bret Taylor said in press release. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Musk said that he intends to unlock Twitter’s “tremendous potential” as he explained the importance of free speech and Twitter’s role as the “digital town square.”
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
