Twitter founder Jack Dorsey has said taking the social media platform away from Wall Street ownership is the ‘correct step’ and that Elon Musk is the ‘singular solution’ for the company.
As you’re probably now aware, Tesla boss Musk has reached an agreement to buy Twitter for a whopping $44 billion (£34.5bn).
Musk has vowed to make Twitter ‘better than ever’ and said he will remove bots and will make the algorithm open to the public, to help gain trust with the public.
Founder Dorsey, who stepped down as CEO last November to be replaced by Parag Agrawal, has now shown his support for the sale to Musk saying he believes the company is on ‘the right path’.
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In a series of tweets, Dorsey said: “I love Twitter. Twitter is the closest thing we have to a 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 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.
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“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.
“I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!”
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When news of the agreement was shared publicly yesterday (25 April), Musk said in 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.
"I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.
"Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."
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Claire Reid