Whenever Twitter has gotten a new CEO and tried to focus on anything, a distraction rears its head and knocks the company off course—Parag Agrawal’s distraction happens to be the richest person in the world. Read the latest from nickbilton.
In the very early days of Twitter, in 2007, the company was struggling to stay focused. Some employees would come in late to work, others would leave early, many would work on side projects that had nothing to do with the mission of the company, and the general consensus around the building at the time was one of chaos., who had become the company's CEO that same year, had a plan.
That story is a perfect metaphor for Twitter’s entire life as a corporation—all 16 years of it. Whenever the company has gotten a new CEO and tried to focus on anything, a distraction rears its head and knocks the company off course. Whenbecame CEO a year later, in 2008, after Dorsey was ousted , the company began trying to fix its servers and grow its revenue, but celebrities wouldn’t stop showing up at the office, and some—including—kept trying to buy the place.
Last week Musk announced that he had purchased 73,486,938 shares of Twitter, which gave him a 9.2 percent passive stake in the social network. Then he said he was joining the board. Then he wasn’t. In between, he tweeted about smoking weed at the next board meeting, that he wanted to turn the company’s headquarters into a homeless shelter, and that Twitter was dying because the top 10 most-followed accounts on Twitter rarely, if ever, tweeted — with the exception of Musk, of course .
So how does this play out? As the longtime Silicon Valley investor told me, the board will show it is taking the offer from Musk seriously, and in the process will likely now see if there are other potential higher bidders out there. But others noted that the number of suitors is slim. Facebook couldn’t buy Twitter because of its long list of currentproblems.
Even if the board and average investors see the Musk offer as a good deal, the board has absolutely no obligation to take Musk’s offer. Twitter
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