Thursday, Oct 6, 2022
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Twitter co-founder Dorsey reveals his biggest regret

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If the deal to sell Twitter to billionaire Elon Musk had been successful, Jack Dorsey would have received USD 978 million

Twitter co-founder and former Chief Executive Officer Jack Dorsey tweeted that he regrets the micro-blogging platform became a company.

When Jack Dorsey was questioned about whether Twitter turned out the way he had envisioned, he said, “The biggest issue and my biggest regret is that it became a company.”

When asked what organisational structure he preferred for Twitter, Jack Dorsey responded that it ought to be “a protocol” and that Twitter shouldn’t be controlled by either the government or another business.

If Twitter were a protocol, it would function much like email, which is decentralized and allows users of various email providers to connect with one another.

If the deal to sell Twitter to billionaire Elon Musk had been successful, Jack Dorsey would have received USD 978 million.

According to a court document, Twitter filed a lawsuit against Elon Musk for breaking the terms of the $44 billion agreement to buy the social media platform and asked a Delaware court to order the world’s richest man to complete the merger at the agreed $54.20 per Twitter share.

“Elon Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” said the lawsuit.

According to the statement, Elon Musk entered into a legally binding arrangement in April of this year and is ending it because “it no longer serves his personal interests.”

The lawsuit accused Elon Musk of “a long list” of violations of the merger agreement that “has cast a pall over Twitter and its business.”

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