Dorsey Rips Twitter Board for ‘Dysfunction’ After Musk Accuses It of Failing to Represent Shareholders

Contact Your Elected Officials
The Epoch Times Header

Twitter co-founder Jack Dorsey penned a scathing tweet over the weekend, calling the company’s board of directors a consistent source of dysfunction after Tesla CEO Elon Musk accused the Twitter board of failing to represent the interests of shareholders.

Dorsey made the remark in a Twitter thread initiated by Garry Tan, co-founder of Initialized Capital, who wrote that having the “wrong partner on your board can literally make a billion dollars in value evaporate,” noting that it’s the reason for a “surprising percentage” of startup failures.

Weighing in on Tan’s tweet was Tren Griffin, a former partner at private equity firm Eagle River, who shared an article on the impact of board dysfunction on businesses that cited Fred Destin, founder of venture capital firm Stride.

“What I do know for sure is that this old Silicon Valley proverb is grounded in age-old wisdom that still applies today: Good boards don’t create good companies, but a bad board will kill a company every time,” Destin was cited as saying.

Dorsey commented in the thread by saying these were “big facts,” prompting a user to say that the history of the Twitter board shows that it has been “mired in plots and coups” so intriguing as to merit a “Hollywood thriller one day.”

The Twitter board, Dorsey replied, has “consistently been the dysfunction of the company.”

The Epoch Times has reached out to Twitter for comment.

Dorsey’s remarks came on the heels of a statement by Musk, who accused the Twitter board of not representing the interests of its shareholders.

“Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders,” Musk wrote on Twitter, replying to a post showing a chart of the ownership percentages of Twitter board members.

Based on Twitter’s latest filing with the U.S. Securities and Exchange Commission (SEC), the 14 executive officers and directors own 2.7 percent of the company’s share. Of the 2.7 percent, Jack Dorsey, the CEO turned board chair owns 2.4 percent and the others own only 0.3 percent.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

AI: A Double-Edged Sword?

AI produces innovation, revolutionizing industries from education to entertainment, yet AI tools also cause a gradual decline in human cognitive skills.

Why is the Epstein Victim List Longer than the Client List?

Bondi said her responsibility is to protect identities of underage girls sexually abused by Epstein, but a good number of victims have come forward.

Stirring the gravy

“You might be a Pennsylvanian-Italian if you claim Italian ancestry and participated in San Marziale festivities at Holy Angels Church in Kulpmont, PA.

Flood of Lies

The tragedy still unfolding after the historic Texas floods should be cause for unity, but Democrats weaponize the catastrophe for themselves.

Now Lawyers Are Looking for the Epstein List, Too!

So it turns out that when FBI Director Kash...

A Year After Trump Rally Shooting, Town Still Seeks Healing, Answers

A western PA community has rallied around the family of Corey Comperatore who was fatally shot when a gunman opened fire at a Trump rally.

5 States Discussing Plans to Build Prisons Like ‘Alligator Alcatraz’: Noem

Homeland Security Sec Kristi Noem said five Republican-led states were discussing plans to build detention sites similar to Florida’s “Alligator Alcatraz.”

Wyoming Opens Dual Mine: Coal for Power, Rare Earths for Everything Else

Brook Mine will be the first new coal mine to open in Wyoming in 50 years and first critical mineral and rare earth mine to open in the US in 70 years.

Los Angeles Mayor Signs Order Reaffirming Sanctuary City Policy, Proposes Cash Aid to Illegal Immigrants

LA Mayor Karen Bass has issued an executive directive reaffirming the city’s self-proclaimed sanctuary status in response to ongoing ICE operations.

EU Won’t Retaliate to Trump’s 30 Percent Tariff, Countermeasures on Hold Until August

EC President Ursula von der Leyen said EU will extend suspension on countermeasures to U.S. tariffs until next month while trade negotiations continue.

Trump Announces 30 Percent Tariff on EU, Mexico

President Donald Trump has announced a 30 percent tariff on imports from the European Union and Mexico, to go into effect on Aug. 1, 2025.

Tariff Windfall Drives Surprise $27 Billion US Budget Surplus in June

New data from Treasury Dept show that surging tariff revenues in June helped U.S. government post an unexpected budget surplus of $27 billion.

State Department Says Reorganization Plan to Move Ahead Quickly After Supreme Court Ruling

State Dept to reorganize plans following Supreme Court's allowing Trump admin to proceed with layoffs of fed workers and overhaul of federal agencies.
spot_img

Related Articles