Twitter CEO Jack Dorsey has come under fire from a new stakeholder in recent weeks, as Paul Singer of Elliott Management who now owns between 4% and 5% of the social media site, have been vocal in his opposition to the longtime Twitter king.
Singer is a major GOP political contributor and venture capitalist, and his track record of influencing change at companies he’s invested in is no list of unknowns – the likes of eBay and AT&T have seen shifts as a result of Singer’s heavy hand.
To date, Elliott Management’s complaints regarding Dorsey center around a 6.2% fall since mid-2015 and a lack of innovation compared to other platforms. While Dorsey has tried to address some of these complaints with counterarguments centered around Twitter’s role in elections, the rebuilding of its core ad server, a total refocusing of Twitter’s leadership, and more, will it be enough?
“I think people’s minds are in the wrong place, and it’s a mentality that’s hard to escape when your sole mentality is, ‘How are we going to recoup investments from our shareholders?’ That’s not going to really foster … an egalitarian platform for discussion,” Litwin said.
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