In March, Musk began to take over the company. While amassing a large stake in the publicly traded social media company, Musk had been talking about the social media platform's issues.
Jack was frustrated as well.
There is a need for a new platform It can't be a business. This is the reason I left.
I'll let you know in a moment. What should it be? Musk asked.
"I believe it must be an open source protocol, funded by a foundation of sorts that doesn't own the protocol, only advances it"
Texts between the two men, who have been friends for years, were revealed through discovery in an ongoing court battle between the two companies over Musk's attempts to abandon the binding agreement he signed to buy the company back in April.
The two months from March to May in which Musk considered and executed the massive deal were captured in messages that cast him as a hero of Silicon Valley. They say that Musk walked into the deal without fully considering that his goal for the company was incompatible with being a profitable business.
I left the company in May and then took a break from the board in mid- May. I plan to fix our mistakes. It began as a protocol. It should not have been a business. That was the root of the problem.
Musk said he would like to help if he could.
After securing a seat on the board, Musk decided to buy the company and take it private.
Musk's original motives seemed to prioritize free speech, but the deal he proposed required outside financing, further complicating the idea to freeTwitter from its profit motives
A string of texts were sent between company executives and Musk by the end of March.
The initial conversations between Musk and other people were friendly. On April 5, Musk was texting that he was happy that he was going to join the board. I have wanted it for a while. When I found out it was possible, I was very emotional.
The tone of Musk's conversations with Agrawal changed a lot a few weeks later after Musk said that he was worried about the future of social media.
It is Musk's responsibility to tell him that it's not helping him makeTwitter better in the current context. I want to give you a perspective on the level of internal distraction right now and how it is hurting our ability to do work. I would like the company to get to a place where we are more resilient and don't get more distracted, and that's why I want the company to ask me anything session with employees.
This week, what did you accomplish? Musk wanted to know. I'm not going to join the board. This is not a good idea. Will make an offer to take the social networking site private.
Musk told Taylor that chatting with Parag wouldn't work. There needs to beastic action. Restructuring should be done as a private company as it is difficult to do as a public company.
Musk said it was Jack's opinion as well.
On April 25th, the board of the company agreed to sell it to Musk.
“Thank you <3” Dorsey wrote.
Musk said he was following his advice.
I am aware and I appreciate you. The only path is this one. I will do everything in my power to make it work.
The offer was straightforward. He would pay a huge amount of money to take the company private.
Musk didn't listen to his friend's warnings that the company shouldn't be run as a company
In that exchange, he didn't say that it shouldn't have been a public company, but that it shouldn't be a company at all. He said something closer to Bluesky should have been the protocol.
Even though there was a discrepancy, Dorsey was still supportive of Musk. Musk arranged for a meeting between him and Agrawal on April 26 to make sure Parag is doing everything he can to meet Musk's goals.
"I won't let this fail and will do everything I can to make it succeed," he said. It's too important to humanity.
After the meeting, it was obvious that Musk and Agrawal were arguing. The two of us are in complete agreement. Parag is moving too slowly and trying to appease people who won't be happy with what he does.
It became apparent that you can't work together. That was clarification.
Musk's deal was a mistake because he was willing to air his dirty laundry in court to get out of it. At the end of the trial in Delaware later this month, Musk could be forced to buy the company against his will if he is found guilty.
The protocol could have been stored away under the stewardship of a thoughtful foundation. However, it wasn't. Even the world's richest person doesn't want to lose 44 billion dollars.
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