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Jack Dorsey, founder and former CEO, believes that social media giant Twitter in the first place, does not require an overlord; however, if it’s necessary, then no one is as good as Elon Musk. Dorsey shared in a tweet late Monday night.
Dorsey clearly states that the Tesla boss is the only solution he trusts while commenting on the change in ownership. Musk offered to buy Twitter for $54.20 as of early Monday.
It is no secret that Dorsey is a Bitcoin Maximalist, while Musk calls Dogecoin his favourite cryptocurrency. Starting his statement with an ode to decentralization, Dorsey says he doesn’t think that anyone should be the owner of Twitter or run it. However, the former Twitter CEO then goes on to say that if it is inevitable, then Elon Musk is the only solution.
The right first step, according to Dorsey, is to take it back from Wall Street.
The statement of Dorsey comes a day after a Twitter heated debate over the change in ownership of the social media giant to a billionaire taking over his favourite public platform. All the talk around Musk taking ownership of Twitter can also have an impact on crypto, considering his love of meme-token Dogecoin and its payments. Meanwhile, Musk has also promised to promote free speech on Twitter, which received praise from Dorsey.
The tweet of Dorsey reads as:
“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.”
Jack Dorsey created a plan to “build a decentralized and open standard for social media” that will explore the aspects of Web3 and crypto during his tenure as the CEO of Twitter in 2019.
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The proposition of Dorsey, called “bluesky”, attracted attention in 2021 with a January “ecosystem review” of decentralized social apps. Along with the appointment of Zcash veteran developer Jay Graber as its lead.
Dorsey still acts as the board member at Bluesky. The company also revealed that it has around $13 million in funds that would be used to ensure the independence and freedom to carry out R&D.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
