Posted For: taxpayer22
Twitter founder Jack Dorsey has admitted that the social media company’s many failures were his fault – before immediately passing the blame to one of the tech firm’s activist investors.
In a blog post published Tuesday, Dorsey owned up to allowing the company to stray from the preservation of free speech, but added that he only allowed that to happen when he ‘no longer had hope,’ after an unnamed investment group bought up stock in the company in 2020.
Dorsey did not specify which company that was, but he was likely pointing to Elliott Management, which that year bought a majority share in Twitter for $387million under the direction of managing partner Jesse Cohn, who then set about trying to oust Dorsey.
The former Twitter CEO’s comments come as the new chief twit Elon Musk started releasing internal Twitter files from before his takeover, which showed that the company actively tried to suppress the tweets of many conservative account-holders.
Dorsey added that next week he would begin handing out $1million in grants per-year for engineers developing algorithms and platforms that would make the internet a freer place, a project he called ‘open internet development.’
‘It will start with a focus of giving cash and equity grants to engineering teams working on social media and private communication protocols, bitcoin, and a web-only mobile OS,’ he wrote.