In connection with Elon Musk’s continuing legal battle with Twitter, some of his private messages have been made available to the public.
The conversations, which were made public in a court filing on Thursday, offered new light on Musk’s discussions with former Twitter CEO Jack Dorsey as well as his negotiations with the company’s leadership. They also revealed how rapidly Musk’s negotiations with CEO Parag Agrawal turned sour.
In one of the texts, Musk informs Agrawal that, rather than joining the board, he prefers to buy Twitter and take it private. Agrawal challenges Musk regarding a post from April 9th asking if ” Is Twitter dying?”
Less than a minute later, Musk replied. What was accomplished this week? I’m not a board member. Time is being wasted on this. Will present a proposal to privatize Twitter.
Elon Musk was contacted by Twitter board chair Bret Taylor a few minutes later with a request to speak. Taylor is informed by Musk that “fixing Twitter by conversing with Parag won’t work.”
“Serious action is required. Restructuring should be done as a private firm because it is difficult to do it as a publicly traded corporation because eliminating bogus users will make the numbers seem horrible. This is also Jack’s viewpoint.
The communications also offer a look into Dorsey and Musk’s relationship. Since Musk sued in an effort to back out of the deal, Dorsey hasn’t publicly spoken despite having previously stated that “Elon is the sole answer I trust.”
But it’s evident from the just made public messages that Dorsey has long wanted Musk to play a more active role at Twitter. Long before Musk bought a sizable interest in Twitter, Dorsey tells Musk that he wanted him to join the company’s board of directors.
“I tried my utmost to get you on our board when the activist first joined us, but our board rejected my request. As difficult as it was for me, that was around the moment I determined I needed to work to go, according to Dorsey.
“I believe the main reason is that the board is just really risking conservative and saw adding you as more dangerous. I thought this was utterly ridiculous and backward, but I just had one vote, 3% of the firm, and no dual-class shares. arduous setup We can talk about more.
Activist investor Elliott Management, who tried to unseat Dorsey in early 2020, seems to be the subject of Dorsey’s apparent reference.
Notably, this chat took place in late March, following Musk’s acquisition of a multibillion-dollar investment in Twitter but prior to the announcement of his ownership. Additionally, the co-founder of Twitter’s opinion that Twitter “can’t be a firm” was discussed by him and Dorsey.
It’s “worth attempting to advance Twitter in a better way and developing something new that’s decentralized,” responds Musk, calling the notion “very exciting.”
The next month, Dorsey made another attempt to mediate between Musk and Agrawal, setting up a call between the two of them at one point. Musk tells Dorsey, “You and I completely agree. Parag is simply moving too slowly and making an effort to appease individuals who will never be satisfied, regardless of what he does.
Later, Dorsey replies, “At least it became evident that you can’t operate together. “That made everything clearer,”
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