Twitter founder Jack Dorsey has given the green light for Elon Musk’s takeover of the site.
This comes after Tesla and SpaceX CEO agreed to buy the platform for $44 billion, at $54.20 per share.
Mr Musk confirmed this news, releasing a statement. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated”, he said.
Following Mr Musk’s offer, Twitter introduced an anti-takeover measure.
Known as the poison pill, this measure could have made things more difficult for a takeover to happen, however the board decided to negotiate after Mr Musk had update his proposal to assure the site that he had secured financing.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated”, Mr Musk also said in a statement after the sale was agreed.
https://twitter.com/elonmusk/status/1518677066325053441
“the right path”
In a series of tweets, Jack Dorsey has since given a thumbs up to Elon Musk’s takeover.
Dorsey who founded the site in 2006, praised the decision to let Elon Musk take it into private ownership and away from the ad model at Wall Street.
“In principle, I don’t believe anyone should own or run Twitter”, Dorsey said. “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”.
Mr Dorsey also believes that Elon Musk’s target of creating a platform that is “maximally trusted and broadly inclusive” is the “right path” for Twitter.
“I’m so happy Twitter will continue to serve the public conversation”, Dorsey added. “Around the world, and into the stars!”.
The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.
— jack (@jack) April 26, 2022
Several people have aired their concerns over Elon Musk’s intentions as a “free speech absolutist”.
There have also been suggestions that he may reinstate the suspended accounts of people like Donald Trump. Trump’s accounts was suspended following the Capitol Riots last year.
However, Trump has stated that he will not return to the site, revealed that he will join his own TruthSocial site in the next week.
“I am not going on Twitter, I am going to stay on Truth”, he said.
