Dorsey Praises Musk's Twitter Buy: 'Elon Is the Singular Solution'
|"Taking it back from Wall Street is the correct first step," Twitter founder and erstwhile CEO Jack Dorsey tweeted Monday.
Twitter shouldn't have an overlord, its founder and on-again-off-again CEO Jack Dorsey tweeted late Monday night. But if it must, then Elon Musk, the richest man in the world, is as good as it gets.
"Elon is the singular solution I trust," Dorsey said of the social media's impending change in ownership. Earlier Monday, Musk prevailed in his bid to take the company private for $54.20 a share.
Dorsey, a bitcoin maximalist, preceded his statement with an ode to decentralization: "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," requires Elon, and Elon alone.
"Taking it back from Wall Street is the correct first step."
Dorsey's message follows a day of Twitterverse hand-wringing over the ramifications of a super-rich, bombastic billionaire grabbing control of his favorite megaphone. That debate could have an impact on crypto, too, as Musk has made his fondness for DOGE payments no secret.
For his part, Musk has pledged to prioritize free speech on Twitter, a message of open dialogue that Dorsey praised.
"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," Dorsey tweeted.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.