Dorsey: “Dysfunction” From Board Amid Musk Twitter Bid

  |  
Apr 19, 2022
Jack Dorsey’s dual roles as CEO of Twitter and Square is drawing pressure from an activist investor, which is pushing for changes at the social media company.

Elon Musk Twitter buyout-

Ex-CEO Jack Dorsey has just weighed in on the Elon Musk Twitter buyout saga, slamming the board for its “dysfunction” in its handling of the potential purchase.

“If [you] look into the history of Twitter board, it’s intriguing as I was a witness on its early beginnings, mired in plots and coups, and particularly amongst Twitter’s founding members,” one user tweeted on Sunday.

“I wish it could be made into a Hollywood thriller one day,” they continued.

Dorsey responded in a tweet, “it’s consistently been the dysfunction of the company.”

This prompted another user is chime into the conversation, asking Dorsey, “Are you allowed to say this?” In which Dorsey simply replied, “no.”

Another example of Dorsey speaking out against the Twitter can be seen in one of his replies on Saturday. Where a quote by venture capitalist Fred Destin was shared, “Good boards don’t create good companies, but a bad board will kill a company every time.”

Dorsey responded to that tweet: “big facts.”

Elon Musk Twitter buyout

Also on Saturday, Elon Musk tweeted, “with Dorsey leaving the board, “the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.”

Dorsey currently sits on the Twitter board but does not have an active role in the company, as he is also the CEO of Square.

Many are rooting for Musk as this buyout saga develops, because they believe the self-proclaimed “free speech absolutist” will only add value if he were to take over Twitter entirely then take it private.

Of course, there are some who view otherwise, claiming that Musk’s efforts are nothing more than a “publicity stunt.”

Consider renowned business man Mark Cuban’s comments for example, who tweeted on Friday, “if you want to buy twitter and take it private that is your business. But don’t use your position as CEO or Director to try to manipulate the stock.”

He also posted the following tweet to seemingly simplify what Musk is “actually” attempting to do with this bid:

It’s worth nothing that Dorsey and Musk have a good relationship with one another, as the two have been photographed together on multiple occasions.

In one photo, which was taken in April 2018 at a conference in San Francisco, Dorsey is even seen wearing a shirt with Musk’s rocket company SpaceX. Not to mention he once called Musk his favorite “influential” tweeter back in 2019.

We will continue to bring you the latest on this story as it develops, but for now it appears as though Dorsey is siding with Musk in this story.

He, like many users, seems optimistic about the role Musk is already, and could potentially play in the future of Twitter.

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Elon Musk Twitter buyout

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