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Twitter co-founder Jack Dorsey said he regrets the social media platform becoming a corporation, but is confident that Elon Musk’s takeover can fix what’s bothering him.
Mr Dorsey said the upcoming sale, which Twitter announced to Mr Musk on Monday, is the first step in retaking ownership of the service from Wall Street and supports the transaction.
According to The Hollywood Reporter, Mr. Dorsey is lining up for an estimated $978 million payday following the acquisition of Mr. Musk.
“I don’t believe in principle that anyone should own or manage Twitter,” Mr. Dorsey said on Monday evening. “It wants to be a protocol-level public good, not a corporation. To solve the problem of being a company; but Elon is the only solution I trust.”
Mr Dorsey said Twitter was humanity’s closest thing to a “global consciousness” and said he trusted Mr Musk to “expand the light of consciousness”.
Since leaving Twitter as CEO late last year, Mr. Dorsey has responded more openly to public criticism. Earlier this month, Republicans in the House of Representatives review YouTube recordings of his testimony to Congress and challenged CNN and Washington Post personalities on whether Fox News criticism is hypocritical.
Mr. Dorsey is more careful about where Twitter went wrong and why it didn’t fix it. When asked last week by CNBC’s Scott Wapner why, when he was CEO, the Twitter board had done nothing to fix the alleged dysfunction, Mr. Dorsey objected.
“There is much to be said . . . but nothing to say,” replied Mr Dorsey.
Mr. Dorsey became the public face of Twitter after appearing before Congress to respond to Twitter’s censorship decisions. Now Mr. Musk could become a prime target for politicians targeting Twitter.
For example, Massachusetts Democrat Senator Elizabeth Warren called Mr. Musk’s upcoming acquisition “dangerous for our democracy.”
“Billionaires like Elon Musk are playing by different rules than anyone else and accumulating power for their own gain,” Ms Warren said on Monday. “We need a wealth tax and strong rules to hold Big Tech accountable.”
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