Elon Musk’s decision to dissolve the board of directors by becoming the sole director himself so soon after the acquisition may be perceived as bordering on insanity by those who prefer a conservative approach to change.
However, these types of decisions are what make Musk the person he is today, and the truth is that he wasn’t about to change for Twitter’s sake.
Just days after taking the helm, Musk has made major proposals, including the introduction of a $20 monthly Twitter Blue subscription and the revival of the defunct Vine short-form video platform.
All of these announcements come on the heels of Twitter’s recent launch of Tweet Tiles for NFTs, a feature that allows users to purchase NFTs directly from tweets.
Suddenly, this seems like a bit much for the staff, especially given those who followed CEO Parag Agrawal out the door last week.
But Musk is not alone. The Tesla CEO has been able to call on some of his acquisition backers to help him take Twitter to the next level.
Binance CEO Chengpeng Zhao recently said his company will help take Twitter to the web3, stating that Binance’s $500 million stake is part of the cryptocurrency exchange company’s grand strategy to bring social media and news companies and their audiences into the next iteration of the Internet.
And on Sunday, Musk welcomed another endorsement from an industry expert after Sriram Krishnan, general partner of Andreessen Horowitz’s (a16z) cryptocurrency arm, revealed that he had teamed up with other big names to temporarily help Musk with Twitter.
“I and a16z believe this is a hugely important company and can have great impact on the world and Elon is the person to make it happen.” Krishnan added.
Now that the word is out: I’m helping out @elonmusk with Twitter temporarily with some other great people.
I ( and a16z) believe this is a hugely important company and can have great impact on the world and Elon is the person to make it happen. pic.twitter.com/weGwEp8oga
— Sriram Krishnan – sriramk.eth (@sriramk) October 30, 2022
Krishnan previously worked at Twitter from 2017 to 2019, during which time he helped grow the user base by more than 20%. Krishnan’s experience with social media platforms and technology in general also includes previous stints at Snap, Facebook and Microsoft.
About A16z
Andreessen Horowitz (known as “a16z”) is a venture capital firm backing bold entrepreneurs building the future through technology. It was founded in Silicon Valley by Marc Andreessen and Ben Horowitz in 2009.
We are stage agnostic: we invest in technology companies from early to late stage, in the fields of biotech and healthcare, consumer, cryptocurrencies, enterprise, financial technologies, gaming, and companies moving towards U.S. dynamism. a16z has $35 billion in assets under management across multiple funds.
a16z is defined by respect for the entrepreneur and the start-up process; we know what it’s like to be in the founder’s shoes.
The firm is led by general partners, many of whom are former founders/operators, CEOs or CTOs of successful technology companies, and who have domain expertise ranging from biology to cryptocurrencies, distributed systems, security, markets and financial services.
Our team is at the forefront of new technologies, helping founders and their companies impact and change the world.
Our goal is to connect entrepreneurs, investors, executives, engineers, academics, industry experts and others in the technology ecosystem.
We have created a network of experts that includes technical and executive talent; top media and marketing resources; Fortune 500/Global 2000 companies; as well as other technology decision makers, influencers and key opinion leaders.
a16z utilizes this network as part of our commitment to helping our portfolio companies grow their businesses, whereby our operational teams provide entrepreneurs with access to experience and expertise across the entire startup spectrum.
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