Facebook admits its mistakes

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Well, let’s see. Elon Musk’s attempt to renegotiate his Twitter deal saw him on Tuesday issuing an ultimatum of sorts, tweeting that “this deal cannot move forward” unless concerns about spam and fake accounts are resolved to his satisfaction. Matt Levine points out that those concerns can never be resolved to his satisfaction, because they are transparently phony concerns intended to drive Twitter back to the negotiating table. Over a deal that he already signed, but now regrets.

Meanwhile, Twitter filed a preliminary proxy statement with the Securities and Exchange Commission — a necessary step on the road to getting shareholder approval for the deal. The most interesting tidbit in there, to me, is that Musk says he asked former CEO Jack Dorsey to remain on the board, but Dorsey declined. This would seem to blow up a lot of theories about how Dorsey had orchestrated this whole disaster as a way to eventually return as CEO.

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About the Author: John Watson

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