The announcement by Jack Dorsey, the co-founder of Twitter (now known as X), that he is leaving the board of Bluesky, another social media platform, has garnered media attention. In the meantime, fans of the tech industry are curious as to what could have motivated the recent resignation, given the announcement of it. Additionally, Jack Dorsey’s upbeat tone toward Elon Musk’s X coincides with this action, which has heightened conversations even more.
Jack Dorsey Is Leaving Bluesky
In a recent report, Bloomberg unveiled the Twitter co-founder’s recent decision. Notably, Jack Dorsey is a well-known personality in the IT industry and the co-founder of Block Inc. This company created Square, a provider of financial solutions.
Unexpectedly, Jack Dorsey has chosen to resign from Bluesky’s board of directors, the social networking platform he helped develop and promote. His decision to leave Bluesky coincides with a period of change for Twitter, which Elon Musk acquired and is now rebranding as X.
Concurrently, the co-founder of Twitter took to X, hailing the platform as a centre for “freedom technology” and declaring charitable donations to uphold open internet standards. Furthermore, the fact that Elon Musk, Stella Assange, and Edward Snowden are among his select group of followers on X points to a potential improvement in ties between Dorsey and the owner of X.
Does This Affect the Technology Market?
Bluesky initially envisioned a decentralized alternative to Twitter. Still, it needed to acquire substantial traction in the face of Meta Platforms Inc.’s Threads. X’s rise to prominence as a major force in social media overshadowed Bluesky’s difficulty sustaining Bluesky’s relevance despite a bright beginning.
Significantly, Dorsey’s exit from Bluesky signifies a change in emphasis toward X and Musk’s plans for the platform. With Dorsey’s support and participation in X, the platform might receive more attention and growth, eventually threatening the established social media behemoths.
In the meantime, Jack Dorsey has also become quite popular recently. He gave $21 million to OpenSats and showed his strong support for decentralized social media and Bitcoin. This demonstrates his conviction that Bitcoin is the native currency of the internet, igniting hope in the cryptocurrency sector.
OpenSats does, however, affirm that the contribution will help with development and operations. $15 million goes to the General Fund, $5 million to The Nostr Fund, and $1 million for operational budgets.
