Dorsey said he thought Musk should have paid US$1 billion to back out of the deal to acquire the social media platform
Dorsey said he didn’t think Musk “acted right” after pursuing the site and realizing his potential mistake, adding that he did not believe the company’s board should have forced the sale.Musk did not respond to a request for comment on Dorsey’s remarks. Musk appeared on Friday night’s “Real Time With Bill Maher” on HBO, and spoke on topics including his time in charge of the company, a recent meeting with U.S. Senate Majority Leader Charles E.
The Twitter board accepted Musk’s buyout by late April, commencing a deal that would take the company private. The terms of the deal included a US$1 billion penalty, known as a “breakup fee,” should Musk decide to back out. Article content Musk’s tenure as Twitter boss has been marked by steep job cuts, an intense work environment and a wholesale overhaul of the site’s user experience. Twitter has leaned heavily into a subscription model and curated feeds that aim to show users content with which they are more likely to engage. Since Musk’s takeover, Twitter’s staff has been reduced by around 80 per cent.Article content
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