Jack Dorsey has finally weighed in on Twitter’s current status, and his comments could be seen as good news for Elon Musk.
Elon Musk has made an offer to purchase Twitter, one the company’s board is fighting. The board has adopted a “poisoned pill” strategy to counter Musk’s efforts. Meanwhile, Musk has pointed out the board’s minuscule ownership stake in the company, questioning their commitment to shareholder interests.
“Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.”
— Elon Musk (@elonmusk), April 16, 2022
Twitter’s most well-known board member has broken his silence, and not to come out in favor of his fellow board members. Dorsey was responding to a tweet by Gary Chan:
“The wrong partner on your board can literally make a billion dollars in value evaporate. It is not the sole reason behind every startup failure but it is the true story a surprising percentage of the time.”
— Gary Tan (@garytan), April 16, 2022
After a number of replies discussing the Twitter board’s checkered past, Dorsey weighed in:
“it’s consistently been the dysfunction of the company”
— Jack Dorsey (@jack), April 17, 2022
Twitter was already under pressure over Musk’s bid. Dorsey coming out with criticism of the board is only going to increase that pressure even more.
