Twitter’s former CEO speaks out against Musk’s takeover

Apr 30, 2023, 9:15 AM UTC
2 mins read
Twitter's former CEO speaks out against Musk's takeover
(Image Credit: Getty Images)

Former Twitter CEO Jack Dorsey has expressed disappointment in Elon Musk’s leadership of Twitter, claiming that Musk has failed to prove himself as a suitable steward for the platform and should have backed out of buying it. In a series of reply posts on Bluesky, a social network that Dorsey helped to start, the entrepreneur criticized Musk’s decision-making and stated that he believes the Tesla CEO should have paid $1 billion to back out of the deal.

Dorsey had previously endorsed Musk’s takeover of Twitter, stating that he trusted the billionaire entrepreneur to steer the platform in the right direction. However, he now believes that Musk’s leadership has caused significant harm to the company. Since taking over as CEO in October 2022, Musk has overseen major changes to the site, including significant job cuts, a subscription-based business model, and a complete overhaul of the user experience. According to reports, Twitter’s staff has been reduced by around 80% under Musk’s tenure.

Dorsey has distanced himself from Musk’s acquisition of Twitter, stating that the board had no choice but to accept Musk’s offer. He argued that “every company is for sale to the highest bidder” and that he did not have the final say in the decision. Nonetheless, Dorsey’s disappointment with the outcome of the acquisition is clear. He believes that Musk’s leadership has damaged Twitter’s reputation and user experience.

Bluesky, which was conceived by Dorsey as a decentralized social media platform, has recently emerged as a potential rival to Twitter. Although Twitter provided funding for the project, Bluesky is now an independent entity with its own CEO. Several prominent Twitter users have flocked to Bluesky in recent times, citing their disillusionment with the platform under Musk’s leadership.

The emergence of Bluesky as a rival to Twitter highlights the challenges facing social media companies in the current era. With concerns about privacy, security, and the impact of social media on mental health growing, users are increasingly seeking alternatives to traditional social media platforms. While Twitter has attempted to adapt to these challenges, its efforts have been met with mixed success. The emergence of Bluesky and other decentralized social media projects suggests that the future of social media may be more decentralized, user-controlled, and diverse than it is today.

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