Twitter (TWTR.N) founder and former CEO Jack Dorsey said Thursday that he regrets the social media platform becoming a corporation.
“The biggest issue and my biggest regret are that it became a company,” Dorsey responded to a question about whether Twitter turned out the way he had envisioned.
If billionaire Elon Musk’s purchase of Twitter is completed, Dorsey will receive $978 million.
When asked what structure he would prefer for Twitter, Dorsey stated that it should be “a protocol” and that Twitter should not be owned by a government or another company.
If Twitter were a protocol, it would function similarly to email, which is not centralized and allows people using different email providers to communicate with one another.
Twitter is embroiled in a number of legal battles.
The company has sued Musk for attempting to withdraw his $44 billion bid for Twitter.
Twitter has been accused of misleading federal regulators about its security measures to protect against hackers and spam accounts, according to a former executive turned whistleblower.