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Monday, April 22, 2024

According to Jack Dorsey, his worst mistake was turning Twitter into a corporation

On Thursday, Jack Dorsey, the creator of Twitter and a former chief executive of the firm, stated that he regretted the social media site becoming a corporation.

In answer to a query on whether or not Twitter had developed in the manner that he had envisioned, Dorsey responded through Twitter by tweeting, “The greatest problem and my biggest regret is that it became a business.”

If all goes according to plan, Dorsey will walk away with $978 million after the deal for billionaire Elon Musk to acquire Twitter is finalised.

When asked what structure he thought Twitter to function under, Dorsey said that it should be “a protocol,” and that Twitter should not be controlled by a state or another firm. He also stated that Twitter should not be regulated by a central authority.

Twitter would function in a manner very similar to that of email if it were a protocol. Email is not governed by a single, centralised organisation, and users with various email providers are allowed to connect with one another. Twitter would work in this manner if it were a protocol.

Twitter is now dealing with a number of challenges.

The firm has filed a lawsuit against Musk for attempting to back out of his bid to purchase Twitter for $44 billion. An ex-executive who has now become a whistleblower has accused Twitter of misled federal authorities about the security procedures that the company has in place to defend itself from hackers and spam accounts.

David Faber
David Faber
I am a Business Journalist of The National Era
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