While Twitter shares plummeted because of Elon Musk’s statements, Jack Dorsey is only interested in crypto projects.
Co-founded by Jack Dorsey, Twitter was previously hailed as a free social network where users could share their emotions freely without worrying about annoying censorship regulations. At some point, “blue bird” was hailed as the best social network in the world.
Jack Dorsey was also the CEO of Twitter for a long time and only left in November 2021. However, many people believe that Dorsey did not do a good job in his final days at Twitter and caused the company to fall into crisis.
We all know that Twitter is currently in a lawsuit with Elon Musk – the richest billionaire in the world. The Tesla founder once offered to buy the social networking platform for $ 43 billion but announced his withdrawal after the deal was closed. The reason Musk gave is because Twitter has more virtual users than he expected.
Since being offered to buy by Elon Musk, Twitter’s situation has been very unstable. The company has come under fire for its censorship of content, fake news, and its stock plummeting.
While Twitter struggled, its “father” – Dorsey was busy finding success with his new “child” – cryptocurrency.
Dorsey himself announced late last year that he left Twitter to focus on developing blockchain technology and cryptocurrencies.
Since then, he has spent most of his time running a digital payments company Block, founding Web5 – a bitcoin-based decentralized identity and data store. Dorsey also regularly appears at crypto events, to the point where people call him an “influencer” for crypto.
Spending so much time on cryptocurrencies, Jack Dorsey completely ignores and is passive with Twitter.
He once said it was right to ban former President Donald Trump from Twitter, but later called it “crazy and wrong”.
In April 2022, when Musk first offered to buy Twitter, Dorsey declared Musk the “strange solution I believe in” for the company. Shortly after, Dorsey again showed a lack of consensus when praising Musk’s rival – current Twitter CEO Parag Agrawal. He also thanked both Musk and Agrawal “for getting the company out of an impossible situation.”
Even before Elon Musk appeared, Jack Dorsey was repeatedly criticized for not fulfilling his responsibilities as CEO of Twitter.
In 2018, he attended a 10-day silent meditation retreat in Myanmar. In 2019, he toured Africa for a month, met crypto enthusiasts, and joined another 10-day silent meditation retreat.
By 2020, Dorsey announced that he plans to work remotely in Africa for at least another 3 months. When Twitter banned Trump in January 2021, Dorsey was in French Polynesia.
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