Jack Dorsey criticizes Elon Musk’s leadership at Twitter: ‘It all went south’
Elon Musk has served August 22, 2022 former Twitter boss Jack Dorsey with a subpoena in a hunt for materials to assist him get out of shopping for the large social media platform for $44 billion as agreed.
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Twitter’s former CEO Jack Dorsey overtly criticized Elon Musk’s management of the corporate in a collection of social media posts Friday, writing that “all of it went south” and Musk “ought to have walked away” from the acquisition.
Customers of Bluesky, a buzzy new social media platform that’s being touted as a possible different to Twitter, prompted the dialogue. They requested Dorsey if he believed Musk was the appropriate chief for Twitter, to which Dorsey replied, “No.”
“No. Nor do I feel he acted proper after realizing his timing was dangerous. Nor do I feel the board ought to have pressured the sale. All of it went south,” Dorsey wrote. He added that he’s glad new social media platforms like Bluesky are being constructed. Dorsey has backed Bluesky since 2019, when he was nonetheless serving as Twitter’s CEO.
Dorsey beforehand known as Musk the “singular answer” to take over Twitter. In a tweet from April 2022, Dorsey mentioned he trusted Musk’s “mission to increase the sunshine of consciousness” by means of the platform.
However a yr later, Dorsey’s opinion seems to have soured.
Musk, who can also be the CEO of Tesla and SpaceX, has drawn ire for his tumultuous takeover of Twitter, which he acquired for $44 billion late final yr. Musk’s steep job cuts, sweeping coverage and have adjustments have shaken the boldness of advertisers, politicians and celebrities, amongst others.
Quickly after making a best-and-final bid to buy Twitter for $44 billion, or about $54.20 per share, Musk tried to again out of the deal he made to purchase the corporate.
He would have needed to pay a $1 billion penalty, in any other case generally known as a “breakup price,” to take action and show to a Delaware court docket that he had a great purpose for strolling away. Whereas Musk did take the matter to court docket, he ended up going by means of with the deal anyway.
Dorsey, who continues to be a Twitter shareholder, championed the deal on the time. However on Friday, he wrote that issues ought to have gone in a different way. “I feel he ought to have walked away and paid the $1b.” It isn’t clear that Musk, or Twitter, even had that possibility.