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Elon Musk exchanged text with Twitter co-founder Jack Dorsey weeks before he bought Twitter

30.09.2022

Elon Musk exchanged text messages with Twitter co-founder Jack Dorsey a few weeks before he made his $44 billion offer to buy Twitter, a court filing showed Thursday.

According to a court filing related to Twitter and Musk's legal battle, which was uploaded by New York Times reporter Kate Conger, Dorsey texted Musk in late March, saying he left Twitter because a new platform is needed and it can't be a company. When Musk asked what it should look like, Dorsey said that Twitter must be an open source protocol, funded by a foundation that doesn't own the protocol. Dorsey went on to say that Twitter can't have an advertising model and that he intended to do this work and fix our mistakes once he left the company's board in May, the court filing showed. Musk said he would like to help if I am able to. In another text message from March, Dorsey revealed that he had previously tried to get Musk on Twitter's board back when we had the activist come in, but he said the board rejected the idea, according to the text message log.

The board was just super risk averse and saw adding you as more risk, which I thought was stupid and backwards, but I only had one vote, and 3% of the company, and no dual class shares, the co-founder of Twitter, said in a text message. According to the filing, Musk said that it's worth both moving Twitter in a better direction and doing something new that's decentralized.

In April, Musk offered to buy Twitter and started trying to end the acquisition in July, prompting Twitter to file a lawsuit against him. He filed a counter-suit against the social media company, alleging that it breached its obligations under the acquisition agreement by misrepresenting the total number of fake and spam accounts.

Twitter has backed off Musk's claims of breaching the agreement and maintained that less than 5% of its users are spam and fake accounts.

The legal teams for Twitter and Musk were reportedly scheduled to depose Dorsey earlier in the month. Musk was previously subpoenaed by the co-founder of Twitter in August in connection with the legal battle.

Musk and Twitter are set to go to trial in mid-October.

FOX Business reached out to Square, which Dorsey founded, and Tesla seeking comment from their respective CEOs' comments.