How Elon Musk, Jack Dorsey, and Parag Agrawal cratered the Twitter deal, in texts

How Elon Musk, Jack Dorsey, and Parag Agrawal cratered the Twitter deal, in texts

Trending 2 months ago 17

Elon Musk’s deposition for the Twitter v. Musk suit whitethorn person been rescheduled for adjacent week, but the nationalist got immoderate much wrong ungraded astir his plans for Twitter, acknowledgment to the merchandise of 2 slideshow presentations and a slew of Musk texts.

The texts amusement Musk and a assortment of contacts — including erstwhile Twitter CEO Jack Dorsey, entrepreneur Jason Calacanis, and podcaster Joe Rogan — talking astir everything from the blockchain to putting Oprah connected Twitter’s board. (That portion mightiness beryllium a joke, but with Musk, it’s hard to tell.) But supra all, they’re a chronicle of the deal’s dilatory implosion.

Twitter “never should person been a company.”

The texts are airy reading, and you tin check them retired here if you’re truthful inclined. They’re mostly divided into 2 sections: a giddy feeding frenzy astir Musk acquiring Twitter and a protracted venting league arsenic the acquisition went south.

The archetypal cardinal conception starts astir a period earlier Musk’s $44 cardinal connection to bargain Twitter. In March of 2022, Jack Dorsey reaches retired astir one of Musk’s tweets, portion of a thread complaining astir a deficiency of escaped code connected Twitter. “A caller level is needed. It can’t beryllium a company. This is wherefore I left,” Dorsey says. He tries to merchantability Musk connected a caller decentralized connection protocol, saying Twitter “never should person been a company.” Musk much oregon little agrees, but with a caveat: “I deliberation it’s worthy some trying to determination Twitter successful a amended absorption and doing thing new.”

Dorsey expresses doubts astir this, but erstwhile Musk buys a important stock successful Twitter, Dorsey is highly connected board. “I’ve wanted it for a agelong time. Got precise affectional erstwhile I learned it was yet possible,” helium texts aft an archetypal announcement that Musk is getting appointed. He’s arsenic enthusiastic astir Musk gathering existent CEO Parag Agrawal: “Parag is an unthinkable engineer.”

Threaded done assorted substance connection subplots (Kimbal Musk really wants to speech with Elon astir Web3), 1 taxable stands out: arsenic Twitter’s aged CEO pushed to bring Twitter and Musk together, Musk’s patience with its caller 1 frayed astir immediately. Musk and Dorsey are connected the aforesaid high-minded wavelength. Meanwhile, Agrawal comes disconnected as, well, a existent enforcement and erstwhile nuts-and-bolts technologist astatine a precise ample institution that’s astir to instrumentality a large risk.

“Twitter CEO is my imagination job.”

This isn’t instantly an issue. “I conscionable privation Twitter to beryllium maximum amazing,” Musk gushes successful an aboriginal speech aft his investment, touting his expertise successful “heavy work software.” Agrawal tries gamely to bash a small coder-to-coder bonding: “I utilized to beryllium CTO and person been successful our codebase for a agelong clip ... dainty maine similar an technologist alternatively of CEO and let’s spot wherever we get to.”

But 2 days later, Agrawal makes a pivotal mistake: helium asks Musk to halt tweeting. “You are escaped to tweet ‘is Twitter dying?’ oregon thing other astir Twitter — but it’s my work to archer you that it’s not helping maine marque Twitter amended successful the existent context,” Agrawal texts connected April 9th. “I’d similar the institution to get to a spot wherever we are much resilient and don’t get distracted, bu we aren’t determination close now.” Two minutes later, Musk declares joining the committee “a discarded of time” and says he’ll connection to instrumentality Twitter private. (Over successful the Web3 B-plot, he’s simultaneously texting Kimbal astir however to commencement a paid blockchain societal network.)

“Fixing Twitter by chatting with Parag won’t work,” helium tells Twitter committee seat Bret Taylor tersely. “Drastic enactment is needed.”

(Meanwhile, successful an ongoing C-plot that is by acold the astir entertaining portion of these substance messages, Jason Calacanis offers Musk a changeless watercourse of thirsty suggestions that see raising his connection price, moving Twitter’s office to the Gigafactory successful Texas, and bringing YouTube creator MrBeast onto Twitter to triumph implicit Zoomers and Millennials. Also, Calacanis is ride-or-die for Musk, volition leap connected a grenade for him, and tells Musk, among different things, “You person my sword,” and “Twitter CEO is my imagination job.”)

 “Parag is conscionable moving acold excessively dilatory and trying to delight radical who volition not beryllium blessed nary substance what helium does.”

Dorsey is wholly connected committee with the acquisition — “I won’t fto this neglect and volition bash immoderate it takes. It’s excessively captious to humanity,” helium pledges. (Back successful the B-plot again, Musk is texting Boring Company CEO Steve Davis astir “a blockchain-based mentation of Twitter” wherever users wage successful Dogecoin, past thankfully concluding that “blockchain Twitter isn’t possible.”) And Dorsey tries to creaseless things implicit with Musk and Agrawal: “He is truly large astatine getting things done erstwhile tasked with circumstantial direction,” Dorsey tells him.

Musk is not into this. “Parag is conscionable moving acold excessively dilatory and trying to delight radical who volition not beryllium blessed nary substance what helium does,” helium says. Dorsey diplomatically takes the solid arsenic half-full, saying that “at slightest it became wide that you can’t enactment together.” But it’s the past connection we get from him — portion Musk texts Rupert Murdoch heirs Kathryn and James to accidental he’s excessively engaged with his crypto startup to rejoin Twitter.

And this each happens portion Musk is inactive mostly excited astir buying Twitter. (This conception ends perfectly with task capitalist Steve Jurvetson suggesting that Musk prosecute his lad to tally operations — again, a feeding frenzy.) Jump into May, and he’s complaining to banker Michael Grimes astir Twitter having “asked nary bully questions and had nary bully comments” astatine a meeting, instantly earlier asking to dilatory the woody down in lawsuit of World War III and guessing that less than fractional of Twitter’s users are real.

There was plentifulness of evident nationalist friction betwixt Musk and Agrawal, and Dorsey’s enactment for the acquisition was known arsenic well. But based connected the drawstring of substance messages here, it’s striking conscionable however rapidly things with Agrawal spell southbound and however small Dorsey manages to merchantability Musk connected immoderate of this being a bully thought — thing Musk seems to commencement doubting astir the infinitesimal helium strikes his bargain.

style="display:block" data-ad-client="ca-pub-6050020371266145" data-ad-slot="7414032534" data-ad-format="auto" data-full-width-responsive="true">