Jack Dorsey, the co-founder and former CEO of Twitter, has expressed strong opinions about Elon Musk’s acquisition of the social network. According to Dorsey, the billionaire entrepreneur should have paid a $1 billion fine to abandon the decision to purchase Twitter instead of completing the acquisition.
Twitter Acquisition Process
- Elon Musk initially made an offer to acquire Twitter and later withdrew from the negotiation.
- To avoid a massive fine and potential sanctions, Musk was forced to complete the acquisition.
- Finally, Musk recently claimed that Twitter’s value has dropped to half of the initial acquisition amount.
Twitter Acquisition and Dorsey’s Change of Opinion
Initially, Dorsey praised Musk and expressed optimism about the social network’s new phase under Musk’s leadership. However, his tone has shifted to criticism, as he now wishes the board had not forced the sale. Dorsey wrote, “Maybe there was a chance, but now we’ll never know.”
Dorsey admitted that he was optimistic about the acquisition, but the final decision was by the company’s board. The decision included investors and other representatives. Furthermore, they accepted Musk’s $44 billion offer and his plan to take the company off the stock exchange.
Jack Dorsey’s Remarks on Bluesky
Dorsey shared his thoughts on Bluesky. He said that it is a microblogging social network currently in testing phase that aims to become a Twitter alternative. At the moment, the platform is invitation-only, with new members joining via existing member invitations.
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Conclusion
Former Twitter CEO Jack Dorsey believes that Elon Musk should have paid a $1 billion fine to avoid acquiring the social network. Dorsey’s statements reflect his changing opinion about the acquisition and its impact on Twitter, raising questions about the platform’s future under Musk’s leadership.