Jack Dorsey, the founder of Twitter, has explained why the microblogging platform was sold to billionaire Elon Musk.
Musk and Twitter agreed on the $44 billion bid on Monday night. The 50-year-old paid $54.20 per share for the company, which was the same price as his April 14 bid.
When asked why he is selling Twitter, Jack stated that Elon Musk is the only way to achieve Twitter’s goal of being run for the public benefit.
He stated that he believes in Elon’s ambition of providing a forum that is “maximally trusted and broadly inclusive.”
Jack said in a tweet, “I love Twitter. Twitter is the closest thing we have to global consciousness. 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.
“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 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.
“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.”
Twitter, according to Jack, will continue to serve the public conversation.
I love Twitter. Twitter is the closest thing we have to a global consciousness.
— jack (@jack) April 26, 2022
