The former CEO of Twitter is lashing out at the companies board for being “dysfunctional” in the wake of Elon Musk’s more than generous offer to acquire the company.
Twitter executives are locked in a dispute over whether to accept billionaire Elon Musk’s $43 billion dollar offer to buy the social media platform.
“It’s consistently been the dysfunction of the company,” Dorsey said.
Later, when asked by another user if he was “allowed to say this” about Twitter’s board, Dorsey replied “no.”
Dorsey hammered the board in response to a post in which a user quipped that the company’s “early beginning” was “mired in plots and coups” among its founding executives.
In another tweet, Dorsey responded to a user who quoted venture capitalist Fred Destin as praising a “Silicon Valley proverb” that holds “Good boards don’t create good companies, but a bad board will kill a company every time.”
“Big facts,” Dorsey responded.
Dorsey has yet to comment directly on Musk’s offer to buy Twitter.
Musk offered to buy Twitter at $54.20 per share last week after backing out of an agreement to take a seat on the company’s board following disagreements over the company’s future. Before that agreement fell apart, Dorsey tweeted that he was “really happy” Musk would be joining the board.
The billionaire responded to a user who shared a chart showing that Twitter chairman Bret Taylor and other board members only owned a tiny portion of the company’s stock.
“Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders,” Musk said.
It’s an interesting take how much those on the Twitter board want to silence free speech, isn’t it? It speaks volumes!
Thanks to our friends at The New York Post for contributing to this article.