Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of
Jack Dorsey: Yes, a new platform is needed. It can't be a company. This is why I left.
Elon: Ok
Elon: What should it look like?
jack: I believe it must be an open source protocol, funded by a foundation of sorts that doesn't own the protocol, only advances it. A bit like what Signal has done. It can't have an advertising model. Otherwise you have surface area that governments and advertisers will try to influence and control. If it has a centralized entity behind it, it will be attacked. This isn't complicated work, it just has to be done right so it's resilient to what has happened to twitter.
Elon: Super interesting idea
jack: I'm off the twitter board mid May and then completely out of company. I intend to do this work and fix our mistakes. Twitter started as a protocol. It should have never been a company. That was the original sin.
Elon: I'd like to help if I am able to
jack: I wanted to talk with you about it after I was all clear, because you care so much, get it's importance, and could def help in immeasurable ways. Back when we had the activist come in, I tried my hardest to get you on our board, and our board said no. That's about the time I decided I needed to work to leave, as hard as it was for me.
Elon: ["loved" above]
jack: Do you have a moment to talk?
Elon: Bout to head out to dinner but can for a minute
jack: I think the main reason is the board is just super risk averse and saw adding you as more risk, which I thought was completely stupid and backwards, but I only had one vote, and 3% of company, and no dual class shares. Hard set up. We can discuss more.
Elon: Let's definitely discuss more
Elon: I think it's worth both trying to move Twitter in a better direction and doing something new that's decentralized
jack: It's likely the best option. I just have doubts. But open
Elon: ["liked above]
jack: I heard good things are happening
Elon: ["liked" above]
jack: Thank you for joining!
Elon: Absolutely. Hope I can be helpful
jack: Immensely. Parag is an incredible engineer. The board is terrible. Always here to talk through anything you want.
Elon: When is a good time to talk confidentially?
jack: anytime
Elon: Thanks, great conversation!
jack: Always! I couldn't be happier you're doing this. I've wanted it for a long time. Got very emotional when I learned it was finally possible.
Elon: ["loved" above]
Elon: Please be super vocal if there is something dumb I'm doing or not doing. That would be greatly appreciated.
jack: I trust you but def will do
Elon: ["liked" above]
jack: Looks like there's a "verified" account in the swamp of despair over there. https://m.facebook.com/Elonmuskoffifref=nf&pn_ref=story&rc=p (promoting crypto too!)
Elon: Haha
[2022-04-26] jack: I want to make sure Parag is doing everything possible to build towards your goals until close. He is really great at getting things done when tasked with specific direction. Would it make sense for me you and him to get on a call to discuss next steps and get really clear on what's needed? He'd be able to move fast and clear then. Everyone is aligned and this will help even
Elon: Sure
jack: great when is best for you? And please let me know where/ifyou want my help. I just want to make this amazing and feel bound to it
Elon: How about 7pm Central?
Elon: Your help would be much appreciated
Elon: I agreed with everything you said to me
jack: Great! Will set up. I won't let this fail and will do whatever it takes. It's too critical to humanity.
Elon: Absolutely
jack: <Attachment-image/jpeg-Screen Shot 2022-04-26 at 15.05.00.jpeg>
jack: I put together a draft list to make the discussion efficient. Goal is to align around 1) problems we're trying to solve, 2) longterm priorities, 3) short-tenn actions, all using a higher level guide you spoke about. Think about what you'd add/remove. Getting this nailed will increase velocity.
jack: Here's meeting link for 7pm your time
jack: [meeting URL]
Elon: Great list of actions
jack: We're on hangout whenever you're ready. No rush. Just working on refining doc.
Elon: ["liked" above]
Elon: It's asking me for a Google account login
Elon: You and I are in complete agreement. Parag is just moving far too slowly and trying to please people who will not be happy no matter what he does.
jack: At least it became clear that you can't work together. That was clarifying.
Elon: Yeah
Bret: Parag just called me and mentioned your text conversation. Can you talk?
Elon: Please expect a take private offer
Bret: I saw the text thread. Do you have five minutes so I can understand the context? I don't currently
Elon: Fixing twitter by chatting with Parag won't work
Elon: Drastic action is needed
Elon: This is hard to do as a public company, as purging fake users will make the numbers look terrible, so restructuring should be done as a private company.
Elon: This is Jack's opinion too.
Bret: Can you take 10 minutes to talk this through with me? It has been about 24 hours since you joined the board. I get your point, but just want to understand about the sudden pivot and make sure I deeply understand your point of view and the path forward
Elon: I'm about to take off, but can talk tomorrow
Bret: Thank you
Bret: Heyo-can you speak this evening? I have seen your tweets and feel more urgency about understanding your path forward
[next day] Bret: Acknowledging your text with Parag yesterday that you are declining to join the board. This will be reflected in our 8-K tomorrow. I've asked our team to share a draft with your family office today. I'm looking forward to speaking today.
Elon: Sounds good
Elon: It is better, in my opinion, to take Twitter private, restructure and return to the public markets once that is done. That was also Jack's view when I talked to him.
jack: Thank you ❤️
Elon: ["loved" above]
Elon: I basically following your advice!
jack: I know and I appreciate you. This is the right and only path. I'll continue to do whatever it takes to make it work.
Elon: ["liked" above]