Twitter co-founder and former CEO Jack Dorsey admitted “all of it went south” for the social media behemoth when new proprietor Elon Musk bought the positioning for an unimaginable $44 billion final 12 months.
Dorsey sharply criticized Musk final week after he initially backed the billionaire to information the positioning into the long run a 12 months in the past.
When requested on his emerging social media site Bluesky Friday if Musk was the suitable man to guide the platform, Dorsey replied “no,” in response to experiences.
“Nor do I feel he acted proper after realizing his timing was unhealthy,” Dorsey wrote, according to the Wall Street Journal. “Nor do I feel the board ought to have pressured the sale. All of it went south.”
Bluesky is a competing various to Twitter funded by Dorsey and is at present invite-only.
One Bluesky consumer famous it was fairly unhappy the way it all went down, with Dorsey agreeing.
Nonetheless, he famous that Twitter “would have by no means survived as a public firm.”
“Would you reasonably have had it owned by hedge funds and Wall Road activists? That was the one various,” Dorsey mentioned, according to Bloomberg.
Musk has made main and controversial adjustments at Twitter since he took over as CEO in October. He slashed greater than half the employees and tweaked content material moderation.
He additionally has pitched a Twitter subscription service the place customers will pay $8 per 30 days to get a blue verify mark.
Legacy verify marks, beforehand reserved for prime profile customers on the positioning, have been misplaced in April although some customers declare they got a blue verify mark with out paying for the subscription service.
“Cost as proof of human is a lure and I’m not aligned with that in any respect,” Dorsey mentioned on Bluesky, in response to Bloomberg. “The fee programs getting used for that proof exclude hundreds of thousands if not billions of individuals.”
Dorsey’s current feedback have been a stark departure from his previous opinion of Musk, who used to talk extremely of.
In April 2022 he touted Musk and mentioned he was the “singular resolution I belief” for the corporate.
Musk, additionally CEO of Tesla and SpaceX, initially mentioned he needed to purchase Twitter to revive its free speech rules, however then tried to again out of the deal.
A authorized battle ensued and the billionaire ultimately agreed to the acquisition.
