Twitter Cofounder Jack Dorsey Apologizes!

    Former Twitter CEO Jack Dorsey has voiced his regrets.

    By: BLOOMBERG
    | Updated on: Nov 06 2022, 11:39 IST
    In Pics: Your Twitter has been changed forever by Elon Musk
    Twitter
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    Jack Dorsey remains an indirect shareholder in the site, after rolling over roughly 18 million Twitter shares into Elon Musk’s X Holdings I. (AFP)

    Former Twitter Inc. Chief Executive Officer Jack Dorsey said he regrets growing the company too quickly as the social media platform downsizes following its recent sale to Elon Musk.

    Musk on Thursday and Friday slashed over half the staff, affecting almost every team at the company. The cuts, expected to involve about 3,700 jobs, have fueled questions about whether Twitter will have the resources to keep crucial systems running effectively, including during the US midterm elections on Tuesday.

    Dorsey remains an indirect shareholder in the site, after rolling over roughly 18 million Twitter shares into Elon Musk's X Holdings I. He has endorsed Musk's purchase, saying in April when the deal was first announced that the company was “owned” by Wall Street and said that taking it private was the “correct” first step.

    Dorsey asserted that he was to blame for everyone's present situation and that he was aware that many people were 'angry' with him, ANI reported. He expressed regret for growing the "company too quickly."

    "Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment is. I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that," he wrote on Twitter.

    While expressing his gratitude and love for every individual who has ever worked for Twitter, he added that he did not anticipate that sentiment to ever be reciprocated.

    "I am grateful for, and love, everyone who has ever worked on Twitter. I don't expect that to be mutual in this moment...or ever...and I understand."

    As per the reports of the New York Post, Dorsey one of four co-founders of Twitter stepped down as CEO a year ago this month.

    Dorsey created a social media business called Bluesky, a new kind of decentralised network that claims to give users and developers greater power, just a little over a week after his fellow billionaire Elon Musk purchased Twitter for an estimated $44 billion and started firing half the workforce.

    According to New York Post, Dorsey, who also founded the monetary-payment company Block, chose to roll over his $1 billion stake, or 18 million shares, in Twitter rather than cashing out.

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    First Published Date: 05 Nov, 23:29 IST
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