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Chronicles

The story behind the story

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Twitter CEO Parag Agrawal says Elon Musk has decided not to join Twitter's board despite being offered a seat

Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. https://twitter.com/...

@paraga Parag Agrawal

Discussion

  • @reckless Nilay Patel on x
    I have also decided not to join Twitter's board
  • @neilcybart Neil Cybart on x
    Elon Musk decided not to join Twitter's board. As I've been saying, Musk and boards of directors don't match. His decision to join the board never made sense. This message from Twitter's CEO suggests rough seas ahead for Twitter with Musk as its largest shareholder. https://twitt…
  • @hunterw Hunter Walker on x
    This statement says the company believed two completely opposite things were “the best.” https://twitter.com/...
  • @nycsouthpaw @nycsouthpaw on x
    Musk and Twitter signed a standstill, they gave and received valuable consideration, he arguably breached it all of five days later, and the company is like “oh cool, it's for the best” https://twitter.com/...
  • @trungtphan Trung Phan on x
    Elon and Twitter's board, explained https://twitter.com/...
  • @loganbartlett Logan Bartlett on x
    Elon Musk realizes public board seats are very administrative and pretty dull.
  • @anthony Anthony DeRosa on x
    Elon Musk appears to have filed an amended 13D regarding his Twitter stock purchase, making him an active investor and may engage in talks with Twitter: https://www.sec.gov/... https://twitter.com/...
  • @alexweprin Alex Weprin on x
    Elon Musk just filed an amended Twitter holdings report with the SEC. Includes this new bit: “[Musk] may express his views to the Board... and/or the public through social media or other channels with respect to the Issuer's business, products and service offerings.”
  • @willchamberlain Will Chamberlain on x
    Elon Musk didn't buy 10% of Twitter for the honor of sitting on its board, he has enough honors He bought those shares to force changes at the company
  • @alfonslopeztena @alfonslopeztena on x
    How to manipulate the market in plain sight in a week and get away with the money and no criminal consequences: Twitter shares rose 27% last Monday, when Musk said “A”. By the end of the week, shares were up 17%. When Musk said “A” was false, went down 7% https://www.theguardian.…
  • @ruchowdh Rumman Chowdhury on x
    I've kept quiet since the announcement because I wanted to give Twitter leadership a chance to do right by it's employees, and they did. Thank you. https://twitter.com/...
  • @semaforben Ben Smith on x
    Pretty wild just to go with innuendo in this particular context https://twitter.com/...
  • @symonedsanders Symone D. Sanders on x
    If it wasn't the background check, this statement was wildly irresponsible. If it was the background check, this statement was wildly irresponsible. https://twitter.com/...
  • @tha_rami Rami Ismail on x
    Glad to hear Twitter is taking advice from *checks notes* a questionable billionaire that backs out of something he wanted as soon as the words “background check” got involved https://twitter.com/...
  • @sherman4949 Alex Sherman on x
    He can say more of what he wants; he can buy more shares; he can try a hostile takeover; he can tweet about how he'll try a hostile takeover and not try
  • @sherman4949 Alex Sherman on x
    I imagine it's simply more fun for Musk not to be on the Twitter board.
  • @thestalwart Joe Weisenthal on x
    This is what lots of people are wondering, whether this opens the door to a hostile takeover, or something like that. https://twitter.com/...
  • @durranimix Arif Durrani on x
    Better to have him inside the tent ... does Musk have bigger plans for Twitter after declining board offer? https://twitter.com/...
  • @thestalwart Joe Weisenthal on x
    Twitter has erased its losses https://twitter.com/...
  • @byyourlogic @byyourlogic on x
    tons of people whose companies aren't cartel money laundering operations have this happen to them. not a huge deal https://twitter.com/...
  • @neilcybart Neil Cybart on x
    Safe to assume Musk and Twitter's board didn't agree on much. Musk then realized the board was trying to contain/control him by inviting him on the board. Also, there were SEC implications to consider by going to board meetings and then tweeting about them. Now he can just tweet.
  • @radishharmers Sridhar Ramesh on x
    This will all be resolved in a week. Elon will join the board on 4/20. https://twitter.com/...
  • @neilcybart Neil Cybart on x
    As for what's next for Musk & Twitter, LOL - it's Elon Musk. He doesn't even know what he will do next. 1) Could increase his Twitter stake (with goal of changing the board the old fashioned way) 2) Could sell his stake. “It's unfixable.” (which would be more right than wrong)
  • @mikeisaac @mikeisaac on x
    absolutely amazing. elon just completely yanking this company around for....???? https://twitter.com/...
  • @carnage4life @carnage4life on x
    Twitter's entire board now supportive of adding that Edit button. https://twitter.com/...
  • @meowmeowmeuw @meowmeowmeuw on x
    i love that he made like 10 tweets about how he was joining the board and going to change everything on twitter, he was excited lol https://twitter.com/...
  • @allahliker @allahliker on x
    only important explanatory word in here is fiduciary https://twitter.com/...
  • @mikeisaac @mikeisaac on x
    story update coming but if you parse the note, here's the key phrase: “We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward”
  • @sherman4949 Alex Sherman on x
    Since Elon Musk likes Twitter polls: Do you want Elon Musk to attempt to acquire Twitter?
  • @sarahfrier Sarah Frier on x
    “There will be distractions ahead” “Let's tune out the noise”
  • @migueldeicaza Miguel de Icaza on x
    This is odd, the founder of Twitter is no longer going to get a seat at the board. https://twitter.com/...
  • @sarahfrier Sarah Frier on x
    Woah https://twitter.com/...
  • @gknauss Greg Knauss on x
    I am shocked—shocked!— that Elon Musk made an elaborate public display of promising to do something and then failed to follow through.
  • @kurtwagner8 Kurt Wagner on x
    In the past week, Elon: * Was invited to join Twitter board * suggests Twitter user numbers are inflated by bots * asks if Twitter is “dying” * asks if Twitter should turn HQ into a homesless shelter * rejects Twitter's board offer Absolutely bonkers
  • @karaswisher Kara Swisher on x
    Short translation and this is all guesses: key words here are fiduciary (tweets), background check (sec), distraction (this ain't over) and in our hands (maybe not in our hands) https://twitter.com/...
  • @nickbilton Nick Bilton on x
    My take on this is that Musk (who now owns 9.2% of Twitter) can't own more than 14.9% of the company if he's on the board, and for 90 days after. It's clear he might have other plans. https://twitter.com/...
  • @carnage4life @carnage4life on x
    $3B later and it's implied Elon decided not to join the Twitter board after being told he has to pass a background check. A troll getting trolled. This is an epic farce. https://twitter.com/...
  • @jason_kint Jason Kint on x
    I wonder how people who purchased shares of Twitter last week are feeling tonight.
  • @mgsiegler M.G. Siegler on x
    I'm coming late to this but Jesus Christ this is a fascinating statement for like 25 different reasons. But the main ones revolve around “fiduciary” and “background check”. These are very intentional statements! https://twitter.com/...
  • @mikeisaac @mikeisaac on x
    something else worth noting: Elon's “stand still” agreement — not to purchase more than 14.9 percent of Twitter's outstanding shares OR perform a hostile takeover of the company — was contingent upon his joining the board. Now all bets are off. We'll see what next week brings.
  • @alexstamos Alex Stamos on x
    @karaswisher Having <15% and one seat might have been the worst position for Elon, since his official power is very limited and he's open to shareholder lawsuits when he screws around. Going for >50% is probably his target. Let's see if TW's board adopts poison pills this week.
  • @alexeheath Alex Heath on x
    Was it because of the restriction on increasing his stake? Legal risk? Boredom? Maybe @elonmusk will tweet to let us know https://twitter.com/...
  • @caseynewton Casey Newton on x
    Elon should still do the Q&A with Twitter employees. He owes us that much
  • @loudmouthjulia Julia Alexander on x
    More exciting moments have happened within Twitter's operations (as opposed to exciting moments happening on Twitter) in the last five days than in the last few years.
  • @levie Aaron Levie on x
    Twitter should really make you pay extra for this kind of drama. https://twitter.com/...
  • @semil @semil on x
    Like an original Netflix series. Twitter for now will surf the waves of being a meme stock. Elon could sell. Someone new could do the same. Choose your own adventure. https://twitter.com/...
  • @tculpan Tim Culpan on x
    What a wild week. Now @paraga tells us @elonmusk won't join Twitter's board. @jack says he'd been keen for a while for that to happen. This might be quite the disappointment. Would be great to know Jack's thoughts now. A huge blow? or minor setback? https://twitter.com/...
  • @mgsiegler M.G. Siegler on x
    This has to be the most Twitter thing that has ever happened to Twitter. And there are at least a few dozen examples over 15+ years. https://twitter.com/...
  • @jangles Neville Hobson on x
    Even if no board seat, Musk should still do the #AMA with Twitter employees. In the public glare, don't stop now! https://twitter.com/...
  • @mikeindustries Mike Davidson on x
    LOL. That didn't take long. I guess we will never know... 🍿 https://twitter.com/...
  • @kfury @kfury on x
    That's a lot of Chekhov's Guns for one email. https://twitter.com/...
  • @tamoorh Tamoor Hussain on x
    Elon: I wish to be on the board Twitter: Sweet, we'll get to work on the background check Elon: I do not wish to be on the board https://twitter.com/...
  • @vladsavov Vlad Savov on x
    “There will be distractions ahead” is accurate. https://twitter.com/...
  • @josephwulfsohn Joseph A. Wulfsohn on x
    Elon Musk deleted this cryptic tweet after it was announced he won't be joining Twitter's board of directors... https://twitter.com/...
  • @samir_madani Sam on x
    Elon also deleted a poll he ran, asking if he should convert Twitter HQ into a homeless shelter because it is is constantly “empty”. https://twitter.com/...
  • @russellbrandom Russell Brandom on x
    It's been deleted, but Elon tweeted this on the morning the board seat fell through https://twitter.com/...
  • @tanktds @tanktds on x
    @paraga Let me break this down for you: Elon became largest shareholder for Free Speech Elon was told to play nice and not speak freely @elonmusk #Twitter #ElonMusk
  • @wsj @wsj on x
    Elon Musk appears to have deleted some tweets taking aim at Twitter amid his decision not to join the social-media company's board. Over the weekend, the Tesla CEO tweeted criticisms, suggestions and apparent jokes about Twitter. https://www.wsj.com/...
  • @elonmusk Elon Musk on x
    Convert Twitter SF HQ to homeless shelter since no one shows up anyway
  • @elonmusk Elon Musk on x
    Delete the w in twitter?
  • @elonmusk Elon Musk on x
    Everyone who signs up for Twitter Blue (ie pays $3/month) should get an authentication checkmark
  • @elonmusk Elon Musk on x
    @PPathole Price should probably be ~$2/month, but paid 12 months up front & account doesn't get checkmark for 60 days (watch for CC chargebacks) & suspended with no refund if used for scam/spam
  • @elonmusk Elon Musk on x
    But it's not very useful. I turned it off. Also, there is this annoying “Reader” bar that now shows up below every tweet.
  • @bigcheesekit @bigcheesekit on x
    Everyone is gonna sign up for 1 month JUST to get a checkmark. https://twitter.com/...
  • @jacobwolf Jacob Wolf on x
    Even though it'd cost me money, I like @profgalloway's idea of charging public figures and corporations a monthly service fee that scales with your following. Twitter is mostly for PR anyhow. https://twitter.com/...
  • @garywhitta Gary Whitta on x
    I see the absolutely terrible ideas have already begun. https://twitter.com/...
  • @parkermolloy Parker Molloy on x
    These guys really want to make Twitter into the type of cesspool Facebook has become. Which, hey, if that's what they want, good for them. But just as I haven't logged into Facebook in probably a year, I imagine that'll happen with Twitter for a lot of people, as well. https://tw…
  • @tedcruz Ted Cruz on x
    Bold new leadership. https://twitter.com/...
  • @elonmusk Elon Musk on x
    Blue already has a modifiable 20 second time to edit tweet feature
  • @th3j35t3r @th3j35t3r on x
    This is not a serious person. Twitter is a plaything for his ego. https://twitter.com/...
  • @tomfitton Tom Fitton on x
    .@ElonMusk would be in jail if @Tesla lied about its cars the way @Twitter, @Facebook, and @Google/@YouTube lie about their censorship.
  • @kgreifeld Katie Greifeld on x
    this man is 50 years old https://twitter.com/...
  • @leah_boustan Leah Boustan on x
    Sorry @elonmusk - it's been a busy semester https://twitter.com/...
  • @ppathole @ppathole on x
    @elonmusk Elon, what happens after that monthly subscription ($3/month) comes to an end or is over? Would “people” still be able to keep their verification check mark? Or the subscription has to be renewed in order to get that check mark back again?
  • @muddywatersre @muddywatersre on x
    Or they can volunteer through Alexa. (Sarcasm.) https://twitter.com/...
  • @kantrowitz Alex Kantrowitz on x
    How about anyone who confirms their phone number https://twitter.com/...
  • @sollenbergerrc @sollenbergerrc on x
    If Elon Musk leaves Twitter in like a year to start his own platform, which we should remember was his original threat, do they Men-In-Black his brain? https://twitter.com/...
  • @mayavada @mayavada on x
    Elon Musk being Elon Musk. Twitter doesn't even own the building. Like anything in SF, this was a real estate scheme with a big payoff. Shorenstein bought it for $110 million in 2011, and turned around and flipped for $800 million in 2015, after tax breaks lured Twitter. https://…
  • @cliffschecter Cliff Schecter on x
    Change the “k” in Musk to “h?” ...and then also maybe change the E-L-O-N to B-R-A-I-N? https://twitter.com/...
  • @pamkeithfl @pamkeithfl on x
    A stupid idea form a man who thinks money makes your ideas palatable. Just like him to suggest buying legitimacy. Already making twitter (he wants it to be called “titter” because he's THAT much of a macho douche), a dumber, more a-hole-ish place. https://twitter.com/...
  • @shanley @shanley on x
    Marc, I hope you have been well. I was just wondering how much land/real estate you own in SF/Silicon Valley. I'm sorry for the recent death of your father-in-law. However, I think it brings up inheritance questions as he was the largest landowner in SF. https://twitter.com/... h…
  • @andyostroy Andy Ostroy on x
    Say what you want about @elonmusk, but he's obviously bringing a new level of class, critical thinking and maturity to Twitter... https://twitter.com/...
  • @vladsavov Vlad Savov on x
    Do you ever get the sense that the peak of human civilization is behind us? https://twitter.com/...
  • @pnjaban Harmeet K. Dhillon on x
    This is so true. https://twitter.com/...
  • @newatlantissun @newatlantissun on x
    Is Elon the only billionaire actually spending money on something cool like becoming a physicalized trickster chaos spirit? Jeff's clock is neat but it doesn't compare with Sulla level trolls of despised middle management types https://twitter.com/...
  • @dsilverman Dwight Silverman on x
    Pro tip for @twitter C-suite: Just because Elon says it doesn't mean you must do it. He can be ignored (blasphemy, I know). Verification is to insure identity, not indicative of a payment. Keep it that way. Elon Musk suggests Twitter Blue overhaul https://www.axios.com/...
  • @kruse Kevin Kruse on x
    God I'd hate to be the Twitter CEO right now. Half his time will be spent managing Elon chaos https://twitter.com/...
  • @elonmusk Elon Musk on x
    @GonzaAbalos Yes, should be proportionate to affordability & in local currency
  • @danlesac @danlesac on x
    Is Elon trying to tank Twitter's share price so he can buy more or something? https://twitter.com/...
  • @jason @jason on x
    And... just like that, Twitter has $300m in additional yearly revenue — 👏 @elonmusk 👏 https://twitter.com/...
  • @pmarca Marc Andreessen on x
    I'm so old, I remember when Twitter specifically chose the SF Tenderloin district for their HQ to try to help revitalize the long-disastrous area, and then promptly got blamed for all the carnage and chaos instead. https://twitter.com/...
  • @joelkatz @joelkatz on x
    This actually makes a lot of sense. It would make Twitter a lot more money and would make it much more expensive to get your bots to compete with active, paying users. https://twitter.com/...
  • @carnage4life @carnage4life on x
    Randomized is actually not strong enough to describe the chaos energy that's about to hit every product roadmap at Twitter. https://twitter.com/...
  • @manakgupta Manak Gupta on x
    This man will ruin Twitter https://twitter.com/...
  • @carnage4life @carnage4life on x
    Twitter's largest shareholder asking why people who tweet less than him have more followers than him is a great sign of how randomized Twitter employees are going to be over the next couple of months.
  • @chandrarsrikant Chandra R. Srikanth on x
    Wonder what's going on in the CEO's mind. Elon has made him almost irrelevant https://twitter.com/...
  • @reuterstech @reuterstech on x
    Musk proposes Twitter Blue subscription shake-up days after disclosing 9.2% Twitter stake https://www.reuters.com/... https://twitter.com/...
  • @slpng_giants @slpng_giants on x
    We're going to be subjected to this forever, aren't we? https://twitter.com/...
  • @shaig Shai Goldman on x
    Make him the CEO of Twitter https://twitter.com/...
  • @jeffbezos Jeff Bezos on x
    Or do portion. Worked out great and makes it easy for employees who want to volunteer. https://www.geekwire.com/... https://twitter.com/...
  • @pmarca Marc Andreessen on x
    Every other desk? https://twitter.com/...