Twitter cofounder Jack Dorsey threw his support behind Elon Musk taking charge of the social media company on Monday, after the Twitter board announced it had accepted Musk’s offer to take the company private at roughly $44 billion.
In a tweet, aptly, Dorsey said that the Tesla CEO is the “singular solution” he trusts for running the company.
Dorsey, who took Twitter public in 2013 and owns a 2.36% stake in the company, said in a Twitter thread that he has always regretted the business model that has been necessary for Twitter to function, lamenting that the app has been “owned by Wall Street and the ad model.”
“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,” Dorsey said, but added that “taking [Twitter] back from Wall Street is the correct first step.”
Ironically, Twitter threads—like the one Dorsey used to endorse Musk—might become a thing of the past under the platform’s new owner. Earlier this month, Musk said the existence of Twitter threads shows that a function for long-form posts is long overdue.
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