Musk’s Twitter Purchase Gets Jack Dorsey’s Praise.

Twitter founder and former CEO Jack Dorsey tweeted Monday, “Taking it back from Wall Street is the correct first step,”

Twitter should not have a master, according to Jack Dorsey, the company’s founder and on-again-off-again CEO. But, if it must, Elon Musk, the world’s richest man, is as close to perfect.

Jack’s comment came after Musk reportedly met with numerous Twitter’s shareholders over the weekend to discuss the details of his $54.20 per share bid for the social networking giant. Musk’s approach forced the Tesla CEO’s $43 billion takeover attempt to be seriously considered by the board of directors..

Initially, Twitter’s board of directors refused the offer, launching a “poison pill” defense to deter Musk from launching a hostile takeover proposal. Musk has then threatened to make a tender offer in order to gain shareholder support for his bid — a major aspect that has spurred the board of directors to seriously evaluate his proposal.

The former Twitter CEO said:

“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.”

Musk, for one, has committed to prioritize free expression on Twitter, which Jack Dorsey praised as a message of open discourse:

“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.”

Musk has also made his preference for DOGE payments no secret, therefore this dispute could have an impact on crypto as well.

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Patrick

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