Jack Dorsey Seems To Support Elon Musk As Interim Twitter CEO

Tesla CEO Elon Musk might just be the new Twitter CEO too.

Late last year, former Twitter CEO Jack Dorsey stepped down from his position and named Parag Agrawal, the current Twitter CEO, to take his place. However, rumors are swirling that the SpaceX founder plans to take the title after he officially assumes ownership of the company later this year.

The news was reported by both NBC News and CNBC, although Musk has yet to make an official comment about the new position on Twitter.

According to an SEC filing reported by Deadline, Ben Horowitz, co-founder and general partner of investment firm Andreessen Horowitz, agreed to let his firm invest $400 million in Musk’s bid for Twitter.

“Twitter has great promise as a public square, it suffers from a myriad of difficult issues ranging from bots to abuse to censorship,” Horowitz said. “Being a public company solely reliant on an advertising business model exacerbates all of these.”

He added, “Elon is the one person we know and perhaps the only person in the world who has the courage, brilliance, and skills to fix all of these and build the public square that we all hoped for and deserve.”

Dorsey responded to Horowitz’s comments, saying, “That is true. It needs cover for a while.”

In a recent SEC filing, Musk mentions Dorsey by name, and suggests the possibility of retaining “an equity investment in Twitter following completion of the Merger in lieu of receiving Merger Consideration in the Merger.”

The day after Musk and Twitter's board of directors announced that Musk had indeed secured a deal to buy the social media company for $44 billion dollars, Dorsey posted the song “Everything In Its Right Place” by Radiohead.

“I love Twitter,” he wrote. “Twitter is the closest thing we have to a global consciousness.”

“The idea and service is all that matters to me, and I will do whatever it takes to protect both,” he wrote. “Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.”

“In principle, I don’t believe anyone should own or run Twitter,” he added. “It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.

“Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him,” he went on. “Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart.”

He concluded, “I’m so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!”

However, it remains to be seen how much involvement Elon Musk will have in Tesla now that he seems to have set his sights on Twitter.