Jack Dorsey, co-founder and former CEO of Twitter, said Elon Musk’s $44 billion purchase of the social media company “is the right path”.
“In principle, I don’t think anyone should own or run Twitter,” Dorsey tweeted Monday night. “He wants to be a public good at the protocol level, not a company. However, to solve the problem of being a business, Elon is the one-stop solution that I trust. I trust its mission to expand the light of consciousness.
Dorsey started a Twitter thread reacting to Musk’s deal to buy Twitter and make it private, sharing Radiohead’s song “Everything Is In Its Right Place.”
Dorsey, who now runs digital payments company Block, formerly known as Square, has pledged to help protect Twitter.
“Twitter as a business has always been my only problem and biggest regret,” he wrote. “He belonged to Wall Street and the advertising model. Taking it back to Wall Street is the right first step.
He also thanked Musk and current Twitter CEO Parag Agrawal for “getting the company out of an impossible situation.”
Musk and Dorsey appear to be on good terms.
On April 5, before Musk decided not to join Twitter’s board, Dorsey tweeted that he was “pleased” to welcome Musk as a director.
“He cares deeply about our world and Twitter’s role in it,” Dorsey tweeted. “Parag and Elon both lead with their hearts, and they will be an incredible team.”
In February 2019, Dorsey told tech columnist Kara Swisher — in an interview via tweet — that Musk was the most exciting person on Twitter at the time.
“I love the way @elonmusk uses Twitter,” Dorsey said. “He focuses on solving existential problems and openly shares his thoughts. I respect that a lot, and all the ups and downs that come with it.
Dorsey stepped down as CEO of Twitter in November, saying he wanted the company to “separate from its founders and founders.” He appointed Agrawal as his successor.
“My faith in him as CEO runs deep,” Dorsey wrote at the time.
Agrawal made no mention of Musk in his tweet commenting on the deal, opting instead to congratulate Twitter employees.
“Twitter has purpose and relevance that impacts the entire world,” Agrawal wrote.
In a show of hands of Twitter employees following the announcement, Agrawal acknowledged a period of uncertainty.
“Between now and the shutdown … we will continue to make decisions as we always have, guided by the principles we have had,” Agrawal said, according to a recording of the call obtained by CNN. “That doesn’t mean things won’t change, things have changed.”