Elon Musk recently aligned with Jack Dorsey on Twitter‘s reform, and now Dorsey has discussed the trials of being a public company and the pressures from advertisers.
What Happened: In an interview on Monday, Dorsey, co-founder and former CEO of Twitter, spoke with hosts Krystal Ball and Saagar Enjeti on their YouTube channel, “Breaking Points.”
During the interview, Dorsey touched on various subjects, including his support for presidential candidate Robert F. Kennedy Jr., concerns about artificial intelligence, and Musk’s tenure at Twitter. This marked one of his first interviews since stepping down from Twitter’s board last year.
On Musk: Dorsey shared his thoughts on Musk’s CEO tenure, describing certain actions as “reckless” and “impatient.”
He revealed his attempts to persuade Musk to join Twitter’s board and expressed his willingness to sell the company to him. The deal was crucial for Twitter’s survival during a significant market crash.
However, an infamous back-and-forth and subsequent lawsuit ensued when Musk tried to withdraw after signing a contract.
“I think it set up a dynamic where he had to be very hasty, he had to be impatient, and he had to move as quickly as possible with features even if they weren’t fully thought out,” Dorsey said. “It all looked fairly reckless.”
Despite these events, Dorsey expressed support for Twitter’s new CEO, Linda Yaccarino, who recently assumed her role.
“I do have confidence that he (Musk) will figure it out. I do have confidence in his new CEO,” he stated. “I own 3% of this new company, so I’m supportive.”
Why It’s Important: During the interview, Dorsey highlighted Twitter’s challenges as a public company heavily reliant on brand advertising. Unlike larger platforms like Facebook or Google, Twitter faced the risk of sudden advertising withdrawal due to market fluctuations.
Dorsey, however, has swung back and forth over Musk’s Twitter acquisition. In April last year, Dorsey said Musk was “the singular solution I trust” following the Tesla CEO’s acquisition of the microblogging platform.
Just a year later, he did a backflip and said on Bluesky — a Twitter alternative backed by Dorsey — that Musk should have walked away from the deal.
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