A few days ago publicly advertise his investment On Twitter, Elon Musk sent a text message with Jack Dorsey. The former Twitter CEO has indicated he no longer believes in the company he founded, according to new court filings in legal battle Between Misk and Twitter.
Musk has quietly started building a large Twitter stake
(TWTR) in january. In a text message on March 26, Dorsey told Musk, “A new platform is needed. It can’t be a company. That’s why I left.”
Musk, an avid Twitter user who was often seen as friendly with Dorsey, responded by asking what the platform should look like. Dorsey made his point that it should be an “open source protocol” and not rely on an “advertising model,” as Twitter is currently doing. Dorsey added that Twitter “should never have been a company,” saying “that was the original sin.”
Musk has expressed interest in developing the idea. In a text later that day, he said, “I think it’s worth trying to move Twitter in a better direction and do something new and decentralized.”
The private exchanges between Dorsey and Musk are among several text messages released in court filings this week, providing new insight into the Tesla CEO’s agreement for Twitter Acquisition for $44 Billion And try it later undo Deal. The letters also provide a unique window to deal-making in Silicon Valley, where a team of billionaires and industry executives — from Larry Ellison and Mark Benioff to members of the Murdoch family — slip into text messages to Musk to discuss Twitter and, in some cases, offer to offer financial support for the deal.
In the days following his private conversation with Dorsey, Musk met with Twitter’s board and leadership. On April 5, Musk agreed to join the company’s board of directors, a move Dorsey has defended publicly and privately. In a text exchange with Musk later that day, Dorsey expressed confidence in Parag Agrawal, his successor as Twitter’s CEO. Agrawal also expressed his excitement in private texts about Musk joining the board.
But the relationship between Musk and the CEO of Twitter quickly appeared to be strained.
On April 9, Musk tweeted with a question: “Is Twitter dying?” Agrawal followed up that day with a text informing Musk that such comments would make the CEO’s life difficult.
“You are free to tweet” Is Twitter dying? Or anything else about Twitter,” Agrawal said in the text to Musk, “But it’s my responsibility to tell you that it’s not helping me improve Twitter in the current context. Next time we talk, I’d like you to provide [your] Perspective on the level of inner distraction right now and how [it’s] Hurting our ability to do the work… I would like the company to get to a place where we are more flexible and not distracted, but we are not there now.”
Musk replied succinctly: “What did you do this week?” In two follow-up texts, he rescinded his consent to join the board, saying, “I am not joining the board. This is a waste of time.” “We will be making an offer to take Twitter private,” he added.
In a separate conversation on the same day with Twitter CEO Brett Taylor, Musk said: “Reforming Twitter by chatting with Paragg isn’t going to work.” “Strict action is needed,” he added in a follow-up text.
Musk and Twitter Announcing the acquisition agreement On April 25th. A little over two months later, Musk said He wanted to get out of the deal, citing concerns about the number of bot accounts and spam on the platform. Then Twitter sued Musk to force him to pursue the deal.
The two sides are due to stand trial over the deal next month.
After Musk’s initial investment in Twitter was announced, and as speculation mounted about a possible takeover, the billionaire began receiving input from some of the more prominent outside voices.
In a text message on April 23, two days before the deal was announced, controversial podcaster Joe Rogan told Elon Musk, “I really hope you get on Twitter. If you do, we should have one party.”
Musk has also sent letters to bankers and potential investors such as his brother, Kimbal Musk, and Ellison, the billionaire founder of Oracle, in an effort to raise funding for the deal, as well as potential leaders for the new company if his takeover bid is successful. Musk and investor Jason Calacanis discussed the latter becoming a strategic advisor or a member of the board of directors. Someone identified in Musk’s texts as “BL Lee” proposed to venture capitalist Bill Gurley as the new CEO of Twitter.
in days After the acquisition was announced, Musk discussed ideas for the platform with a range of personalities, including LinkedIn co-founder Reid Hoffman, Microsoft CEO Satya Nadella and technology investor David Sacks. Sachs suggested that former Michigan congressman Justin Amash should be involved in Twitter’s content moderation efforts.
Musk banker Michael Grimes has suggested crypto billionaire Sam Bankman-Fried as an investor who could also help advance Musk’s vision of a Twitter built on blockchain, the technology that underpins cryptocurrencies.
The new filing also includes a text from Musk to Grimes that was referenced in a hearing earlier this month by Twitter’s lawyers, who allege that Musk walked out of the deal not because of his concerns about bots but because he was concerned about a stock market downturn and geopolitics. issues, which would not be any of the legitimate grounds for termination of the agreement.
In a May 8 letter to Grimes, Musk said the deal process should “slow down only a few days” before Russian President Vladimir Putin’s speech the next day that many worry could escalate the war in Ukraine to other countries. “It wouldn’t make sense to buy Twitter if we were headed into World War III,” Musk said.
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