- Cardano founder believes Elon Musk’s upcoming resignation is due to pressure from Tesla shareholders and argued that Musk regrets buying Twitter.
- Hoskinson claimed that he and others in the industry reached out to help Musk tackle impersonation and bot accounts on Twitter, but he paid no attention to them.
Charles Hoskinson, Cardano’s founder, has responded to the latest Twitter situation. The crypto entrepreneur argued that Musk did not stop to think before pushing on with the Twitter deal. Hoskinson argued that the Tesla boss regrets his Twitter acquisition.
Elon Musk to resign as Twitter CEO
Hoskinson shared his opinion on Elon Musk quitting as CEO in a recent AMA video posted on Twitter. The Cardano founder Hoskinson compared the current state of affairs to the remorse felt after a one-night fling.
Hearing @IOHK_Charles describe the Elon+Twitter situation, how it could have been better handled, including with web3, was the best part of today's AMA.#Cardano $ada https://t.co/ZBm8ibw8OZ pic.twitter.com/gFGTtxbNMq
— St₳kΣ with Pride 🌈 (@StakeWithPride) December 20, 2022
Earlier on December 18, Musk conducted a poll on his Twitter timeline asking if he should resign as CEO. The poll ended with 57.5 percent (17,500,000) of the voters asking him to step down. In the tweet, Musk stated that he would “adhere to the poll’s result.” Meanwhile, he has not yet confirmed if he will resign as CEO. Speculations are spreading on Twitter that Musk did not believe the Twitter community would vote for him to step down.
Meanwhile, Hoskinson believes that the combination of “rookie mistakes” and increasing pressures have worsened Musk’s regret of buying Twitter. Since Musk took over Twitter, he has implemented several modifications, all of which have attracted huge criticism from users and journalists.
Although the Twitter CEO did not disclose why he is considering resigning from his role as CEO, Hoskinson stated that it could be a result of pressure from shareholders in Tesla.
According to Hoskinson, the shareholders want Musk to spend more time on the EV firm’s progress and less time on Twitter. “We made you the wealthiest man on the planet. perhaps, just perhaps, you ought to be the CEO of our firm instead of devoting your whole day on Twitter,” the Cardano boss stated.
We reached out to Musk but got no answer – Hoskinson
Following Elon Musk’s Twitter buyout on October 28, Hoskinson claimed that he and others in the industry reached out to him to help tackle impersonation and bots accounts on Twitter. However, he said Musk paid no attention to them, demonstrating with his hands closing both ears.
We sent videos publicly and privately using all channels possible telling him about our work on social media networks for the past ten years, but couldn’t get his listening ear.
According to Hoskinson, in light of the pressure from Tesla investors, “Musk is fighting to get out of the situation.” While speaking about his experience and research on starting social media platforms or a company, the crypto entrepreneur said Musk moved too fast with his Twitter acquisition. However, the Cardano boss did have some suggestions for Musk in the AMA session.
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He opined that the billionaire should have created a “next-generation social platform” focused on information curation, identity, rewards for good behavior, and other advertising models. Once this firm is running, Hoskinson noted Musk would buy Twitter, then slowly merge both firms, move the users and abandon Twitter’s infrastructure over time. Hoskinson said this strategy would not have “rocked the boat so much.”
Furthermore, Hoskinson blamed Musk for not seeking advice before pushing forward with his Twitter acquisition.
