Twitter, Inc. is an American social media company based in San Francisco, California. The company operates the microblogging and social networking service Twitter. It previously operated the Vine short video app and Periscope live-streaming service.
Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and launched in July of that year. By 2012, more than 100 million users posted 340 million tweets a day, and the service handled an average of 1.6 billion search queries per day. The company went public in November 2013. By 2019, Twitter had more than 330 million monthly active users.
On April 25, 2022, Twitter agreed to a $44 billion buyout by Elon Musk, CEO of SpaceX and Tesla, one of the biggest deals to turn a company private. On July 8, Musk terminated the deal. Twitter’s shares fell, leading company officials to sue Musk in the Chancery Court of Delaware on July 12. On October 4, Musk announced his intention to purchase the company as he had agreed, for $44 billion, or $54.20 a share; the agreement closed on October 27.
Twitter turned on Jack Dorsey after reportedly launching Twitter-alternative Bluesky
Dorsey is a co-founder of Bluesky, a Twitter spin-off developing a decentralized social networking protocol and app
A corporate spin-off, also known as a spin-out, or starburst, or hive-off, is a type of corporate action where a company “splits off” a section as a separate business or creates a second incarnation, even if the first is still active.
A decentralized network protocol. These networks are not easily shut down by traditional court jurisdiction means, because the protocols have no central or headquarters jurisdiction in which they operate. The network operates on the principles, and according to the code, that is running on the network. In the 2010s, a number of such decentralized network protocols emerged. By early 2021, the most used decentralized protocols included the Bitcoin, Ethereum, and Binance Chain blockchains, and the Uniswap, SushiSwap, and Compound decentralized finance (DeFi) protocols.
Like HTTP is a foundational standard for the Internet, BlueSky would operate as the foundational standard for social media. However, it would go a step further in that it would be a decentralized protocol.
The closest comparison to make here is Bitcoin. Bitcoin is simply a protocol that a group of people mutually agreed to leverage. The killer feature of bitcoin is that it is decentralized, meaning no single entity can control it.
So while Bitcoin is a decentralized store of value, BlueSky would be a decentralized store of social media content. Since it is decentralized, no single authority can control the content of the protocol. Platforms operating on the BlueSky standard could remove content from their applications, but not from bluesky. No single entity would control bluesky.
Bluesky was commissioned by Jack Dorsey when he was still the CEO of Twitter. And with more than 30,000 signups for its waitlist in less than two days, the project is quickly being touted as an alternative and perhaps even a replacement for the Musk-owned Twitter.
In conclusion, I would like to say that these two tech leaders by their actions have grabbed the whole world in anxiety. we all waiting to see how the future will be shaped by the actions of Elorm Musk and Jack Dorsey.