Dorsey will receive $978 million if the deal is unlocked for billionaire Elon Musk, owner of Tesla, to finally buy Twitter for which he offered $44 billion at the time.
Asked about the structure he wanted Twitter to operate under, Dorsey said it should be “a protocol” and should not be owned by a state or another company.
If it were a protocol, Twitter would work much like email, which is not controlled by a centralized entity, and people using different email providers can communicate with each other.
Instead, Twitter became a company that makes profits through the sale of advertising and is involved in multiple disputes, both in terms of control of its content (it received several complaints of censorship) and from the point of view of of the ways in which it achieves its profitability.
The company has recently sued Musk for trying to drop its $44 billion bid to buy Twitter. In addition, a former executive turned whistleblower has accused Twitter of misleading federal regulators about its security measures to protect against hackers and spam accounts.
The dispute will reach the US courts on October 17, in a five-day trial. Twitter must show data from 9,000 accounts.
Reuters and Scope
Source: Ambito
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