the private activist firm pushed jack dorsey out.gned, but reporting suggests it was under pressure you bring in a new ceo an engineer. he is trying to grapple with the policies with the war in ukraine and a lot of misinformation. now to have elon musk come in. it seems dorsey is saying twitter existed on lots of dysfunction and changes. it doesn't mean it needs a huge new injection of life. that's the way i read that tweet. someone couldmisinterpret it we don't need a massive takeover on twitter to help survive twitter has been adaptable the last thing i would say, brian, twitter made a change a year ago in the business model that is where you are getting the pressure maybe they are not seeing the returns on the subscription business. >> great poibnts. the ceo is under 40. he made comments a couple of years ago saying free speech is not our priority whatever he meant by that, that's going around and people are going after. this fight is nowhere near close to done. sarah fisher, thank you very much for coming on the program odd stuff

there is some soul-searching that jack dorsey has done. maybe elon musk has been a part of that or listening as he tweets about it. >> what do you make of that? what do you think jack is thinking? >> i have no idea what he is thinking. i am a big fan of his. i am sure he is very thoughtful and thinking through what the future holds and what this new development may or may not impact of the product and the team but i have no idea what he is thinking. >> we all want to know. thank you along with bloomberg's sarah friar. coming out, the third-party breach. we will be joined by the co-founder in an exclusive interview. the first since the bridge was disclosed. what happened and what did they learn? this is bloomberg. ♪ >> a security breach at one of the third parties. the breach happened in january but they did not disclose it until about two months later and after the hacker group claimed responsibility for the attack and posted screenshots of customer accounts on telegram. they say that he has spoken to hundreds of customers about what happen

we've never seen jack dorsey talk like this before.r cnn brian stelter, media, social media platforms. when you heard about this, what was your reaction? >> certainly odd hearing that come from him. it started under his tenure. i don't know if he is late to the game coming out on this. important message he needs to get out. i'm glad somebody is talking about it. another voice talking about what is going on. it definitely needs to be addressed. elizabeth: we don't have any comment. we're watching for cnn to weigh in here. the big comment, whether jack dorsey is siding with elon musk at this point against twitter and the media for divisiveness and censorship of voices they didn't agree with. doors say lashed out at the twitter board saying it is consistently dysfunctional. we hear elon musk may use $15 billion of his own money to take over twitter. what would you think if you saw that happen? what would your reaction be? >> i can tell you by judging from the reaction seeing people say it will be the end of democracy if elon takes over tw

turns out former ceo jack dorsey and the new ceo are in on it. what does it mean for twitter, free speech and the world's most public town square? we will uncover the story from all angles to the hour. plus what is it like to work on the board with elon musk? we will be joined by steve wesley who will share the good, the bad, and the unexpected with comes with having one of the world's most controversial innovators in the room. and he has fashioned himself as a free speech defender but will musk be good or bad for free speech? could it open the door for former president trump to be an banned from the platform? there is shares up another 2% after a 27 percent spike monday. ed ludlow is here to break it down. we can debate the long-term impact but no question it has been good for investors in the last 48 hours. ed: especially considering that stocks were lower and a lot of hawkish comments from the fed weigh down shares. it has had its biggest two-day gain, above 30%. here's the reality of the situation. there's a staggering volume of twitter share

and doing it a different way in this decentralized idea was pushed by jack dorsey and parag.ore sense out of the limelight in terms of public thing, public attention and scrutiny at the same time, it's -- i think even if these rich people especially on the right -- on the more right side of tech complain about twitter or whoever complains losing money is another thing i think they like money more than going on about free speech. and so we'll see we'll see. we'll see. >> finally, kara, i see biz stone, one of the founders, wished ned segel happy birthday today. twitter cfo. and we'll get this employee meeting this afternoon i wonder, we're going to hear some leaks out of that, don't you think? >> oh, yeah. i think employees -- one of the problems is if he takes it over, you'll see an exodus they should go over to metta why do they want to deal with this possible craziness. by the i warks let me just say, elon has every right and earned the respect around creating something out of nothing whether it's tesla or spacex this seems like a distraction and if i was a tesla shareholde

when jack dorsey went on a trip to africa.e is described as the spiritual leader of bitcoin. the idea that it has some sort of decentralized vision for how it can change the world. >> he is not just with it. he is with intact. a company that may be embracing new forms of payment. in that respect, what does this look like within the bitcoin scheme? >> he is really trying to make block a leader in the mass acceptance of bitcoin. even going so far as to say that block will support people adding bitcoin, mining properties in their own home. this is where he thinks the future is headed. jared wegner points this out, when he sees where the future is headed, he tends to be right. he does not always execute on that vision perfectly but he was one of the first investors in instagram. this was the format that was later popularized with tiktok. he picks where the future is going ahead. what people are saying is if he is pointing toward bitcoin as the future, we better pay attention to that. >> it is a great read, a great headline, great

what has been the influence the you think of jack dorsey on this deal, having left of the company? a good thing to speculate about. my guess is that jack, like me, is cautiously optimistic about what this could mean. but no one can look at elon musk and not worry that something could spin out of control in an unpredictable direction, and i'm sure jack, who feels very deeply attached to and proprietary towards twitter, wants to see his they be kept healthy. -- see his baby kept healthy. but i want to see if there were important changes they had been prevented from making, because it would prevent -- and that is all going to go away once the company is private. can i just ask adam a question, though? because i wonder about the sec. they still have to approve this transaction. here's a guy who was accused and settled with them for securities fraud regarding tesla. and didn't necessarily abide by the terms of the settlement. what is the possibility, as a washington guru, adam, that maybe the sec will think of him as unsuitable unless certain conditions are put on this transaction? it's

there are a few manufacturers in the world, but the fact that jack dorsey, this is good. to them and i feel that what they are doing is something that is bitcoin mainly and within the realm of what block and square are doing, ledger is a holistic approach. we are a hardware mallet -- hardware wallet manufacturer. we can't be bitcoin only, we are multi-chain. manufacturers like us worry about the experience in the future. we are focused on the journey of the user and we want to support every community in crypto and that's where we are different from everyone else. >> there's a big community in crypto on twitter. i'm curious what you think about elon musk joining the board twitter given his thoughts on decentralization and his own role in the crypto community? guest: where it strikes me the most is elon musk is amazing. it -- freedom is a concept that he is standing behind. freedom of speech. the reason why he is big on decentralization is because it brings freedom to the people. freedom is motivating here and it is what ledger is all about. we want to empower people with t

what do you make up the strategy that the current twitter team is taking without jack dorsey there, under new leadership? katie: i'm a big fan. i think jack has hired externally well. i have worked side-by-side with the chief officers. they are excellent. they are excellent at what they do, they are thoughtful, ethical. i know he's very well respected by the team. he is well prepared. he has been at twitter for a long time. is technical. he has led the engineering team. i am very bullish and i am very confident twitter team will continue to evolve and protect the platform. emily: sarah, elon musk, the way that he disclosed this indicates that he is not intending to be very active, or join the board. i mean, maybe he just once an exclusive edit button, as katie was alluding to. but how active do we expect him to be, knowing that elon musk does not just sit back and let things happen? sarah: i think the most interesting thing will be any criticism he makes of twitter now, anything he says on twitter about the company, might move the stock. so we can be in for a few very volatile months ahea

i'm not sure if you saw jack dorsey call out brian stelter on twitter.fter tucker carlson but you know said he was always doubting. the founder of twitter laid into this guy big time, cnn for the hypocrisy. where are you on this thing? i want to see musk succeed. what do you want to see? >> absolutely, charles. i love the drama as well. what is interesting the censorship actually began under dorsey, under his watch. who knows, if he was, he is pretty detached ceo, we know that. but i find it really interesting now he has taken the posture, always been one of those people that listens to both sides of the aisle, has friends on both sides of the aisle. one of the things i like about him very much. i'm sure you watched as batchesket ball as i have with all your kids and grandkids. my daughter played college basketball. one thing you learn the momentum shifts it really starts to take off. i think the momentum has shifted. dorsey chiming in is indicative of that. but musk really started a narrative that will not go back into the bottle. i'm very excited to se

aside from jack dorsey, who is leaving the board in may, jack dorsey has around 2.25% ownership staketwitter. the rest of the board has way less than 1% ownership stake. they don't, they are fiduciaries for shareholders, but in terms of actually having any skin in the game, they have zero skin in the game. i would add, for your viewers, the prince, who may have owned something like 5% of twitter at one time, no longer does. i'm not sure what he owns at the moment. i'm not sure how relevant it is that he is tweeting about his view of elon musk's offer. he is not involved anymore. he is not on the board. he has no influence. he is not a large shareholder. i'm not sure why anybody would listen to him at the moment. but that key here is, some of the big shareholders that are out there, which are big retail asset management companies like blackrock, morgan stanley, vanguard which is the largest shareholder at 10%, i think they are all likely, if this financing can be firmed up, if elon musk can prove to his financial advisor morgan stanley, if he can prove to goldman sachs who is represent

the fact that jack dorsey are doing this is good. them and we have talked to them and i feel that what they are doing is something that is within the realm of what block and swear are doing. i think ledger has a much more holistic approach. we are not bitcoin only. we are very strong on bitcoin but we are multi-chain. they should not worry so much about the chains but worry about the experience in the future. we are very focused on the journey of the user and supporting every user in crypto. >> speaking of communities in crypto, there is a big one on twitter. i am curious what you think of elon musk joining the board of twitter, giving his thoughts on decentralization and his own sort of role in the crypto community. have followed all of this. i think elon musk is talking about a sense of freedom. freedom is a concept that he is standing behind and freedom of speech. the reason why he is big on this is because decentralization brings freedom to the people. freedom is very motivating here. we want to empower people with tools so they

emily: they still have jack dorsey on the board who has almost a 3% stake until may. want to continue this conversation. i am joined by andy friedman. cohead of the shareholder activism. how much does it matter twitter's board members without jack dorsey don't collectively own a large number of shares? is that unusual? andy: thanks for having me on. it is not too unusual and that line of argument is not going to get musk very far. the board is protected by broad leeway in the judgment will going forward with a fiduciary duty-based argument when you have a company and a board like twitter's, which i view as highly defended. it is a staunch defense and -- staunch defense of profile. looking at twitter, they have a classified board structure in place. they're looking to potentially declassify but that is a 3, 2 year out plan. for now, they're protected in the way that daily have one third of their board up for election and that number this year is two directors out of what will be a 10 member board. you need majority control to force through a hostile bid like musk's. wh

the latest a series of critical tweets from former ceo jack dorsey. as the board considers elon musk's takeover bid of $43 billion. dorsey wrote it's consistently been the disfunction of the company. and continued that a bad board will kill a company. >>> the way you think of climate friendly and eating healthy, a lot of veggies and fruits come to mind. but seafood is often a better choice and more earth friendly. marianne favro take as closer look that which options that a bay area researcher says are the best. >> reporter: oysters may not be your go-to choice for dinner, but a new study shows they're more nutritious and earth friendly than a spinach salad. that comes from the lead author of a study that looked at how different types of seafood stacked up fence fruit, vegetables and even beef. >> specific fruits like apples and pairs. >> reporter: he says anchovies, sardines and herring ranked even higher. the reason? overall, they had more than 12 of key nutrients, including vitamin a, iron and zinc. they also found the anchovies and sardines require

ceo jack dorsey slams twitter's board as consistently dysfunctional. these are guys dictating what you see and read on the internet. media got hysterical over the phony story about border patrol whipping migrants. remember that one? that didn't happen. they were cleared of wrongdoing. why is the media silent about even more terrorists caught at the border, terrorists caught under biden? i'm elizabeth macdonald. "the evening edit" starts right now. ♪. elizabeth: welcome to the show. you're watching the fox business network. unfortunately stocks in a sea of red down today, it was seesaw action, as the 10-year treasury yield that is used as a benchmark for bank loans hitting a three-year high. safe haven gold hitting $2,000, first time in five weeks. inflation is surging. russia bombing ukraine. both of that is worrying wall street. russia is acting out mostly with bombs in the east and the west. we have at least seven killed in bombings in lviv in the west. heavy fighting around the besieged black seaport city mariupol. what is happening stateside, at le

and welcomed on board by jack dorsey. lauren: doesn't have much stake in twitter.s? lauren: given how he was tweet treated on his exit as the company founded, jack dorsey and elon musk might be friends, they cooperate and degree when it comes to crypto currency. if you want to look at activism, look what happened with elliott management, tough guys on wall street, they want to 9% stake, twitter reproduced did that. they got a board seat and kicked out, forced jack dorsey to leave, they focused on one company. we would wonder if musk will kick somebody out. susan: there's been a lot of talk about where he would change policy and allow donald trump to come back to the platform which a lot of people are supporting on social media and pushing that to happen. and a public forum. elon musk is the richest man. twitter state factors into its total fortune. 3 quarters is tied up in chesler. space x, $40 billion holding for him. the company is worth $101 million. the twitter surge we see in the last 3 days, look at dogeecoin it is up 25% for the past session. stuart: he is a

jack dorsey saying that i wanted a lot on the board for a long time.hat have you made of all of these -- [laughter] tell us about what is going on. >> it is effective through the company and shareholder meeting in 2024. his ownership interest is tapped -- capped which is interesting, there are some stipulations in that he can use swaps or derivative to get past the 14.9% cap which i thought was interesting. a 30% gain over the course of two days is the biggest two day jump. stocks are trading at the highest level since november. retail volumes in trade, there is an intense interest in the story. the balance it seems positive. matt: he has an agreement to cap his holdings but he was a passive investor. today he is the boss of the company. how does that make any sense? >> prior to elon musk, look at the function on the terminal and the existing table or a spread of shareholders, jack dorsey was the single biggest individual shareholder at 2.7%. elon musk has blown way past that. you see that and you use the rich function on the terminal and issues of the

jack dorsey are still on the board. -- is still on the board. this is high pressure stakes for the new c.e.o. >> it is just an incredibly high-pressured moment. he knew what he was getting in to. twitter is a company that has had a highly volatile time with its investors. it is vulnerable to activists' interest to c.e.o. change decisions and that nature of activity. so i don't think this is the end of the elon musk story. i think that we have even heard retail investors get very excited about backing him on this plan and others running away from the idea that elon musk can shake up twitter. it is supposed to be a week for 2013 employees to be heads down, focusing on their work but they are very distracted of course by everything that has happened here. caroline: there was talk about having a meeting to discuss this very bid at 5:00 p.m. today. we wonder how of course that conversation is currently faring. thanks for getting to the devil in the details. mark, jasmine, great to have some time withs you. first and foremost, jasmine. talk to us abou

jack dorsey stepped down here after elliott management gets involved.elon musk discloses his status at the beginning of april. we're still not at the same level of a year ago. we are lingering around $45 per share. one of the questions put forward today amid high volumes of trading was did this bid lowball them and will they come back with a further bid? i wonder if that is possible. finally, the retail investor. how influential is the retail investor with tesla and twitter? these are the top two stocks on the fidelity platform. elon musk puts a lot of faith in retail investors. caroline: thank you. there have been previous pushes for change at twitter by the likes of management. activist investors are not new to this platform. what on the platform could be changed? what are the concerns about elon musk perhaps taking over? today he mentioned the idea of free speech. that it would be the ultimate goal. >> it's important that it be an inclusive arena for free speech. twitter has become the fecteau -- fecteau townsquare. it's important that people have bo

we know he's a close to jack dorsey. any idea on what was the motivation behind doing this? it is hard to say. the filing day was march 14 and it was march 26 when elon musk tweeted that pole about whether the platform twitter is adhering to free speech principles. overwhelmingly twitter followers voted that it didn't. he continued to say the outcome of the pole would have big consequences. there you see it on your screen. he said he might start his own social media platform himself but you have to remember, the whole time he was doing it, he did hold that 9.2% stake in the company which is technically based on the filing type he used -- a passive state. whether he becomes active, wall street can speculate all day. haidi: we spoke to cathie wood earlier and is speculating this could throw the door open to a shakeup at twitter. ed: right. the point is this was a shot across the bow for the current twitter ceo who became ceo in the first week of december after jack dorsey announced he would step down. at that time, elon musk needed some memes which most took to mean he either

you and jack dorsey among the maxis and a huge crypto community on twitter. one of the most prolific users. what do you think of elon musk's hint at a hostile takeover? michael: obviously there's a lot of frustration everywhere in the world right now circulating about and you see that reflected on twitter. this is indicative of that. it's a bit above my pay grade to determine how the entire chapter ends. it definitely makes for an interesting watching. emily: you are a power user. do you want elon musk to own twitter? michael: i think peter is going to be fine regardless of what happens. with a twitter user ended up owning twitter, i think that would be a fine thing. emily: have you talked to jack about this at all? michael: i'm not really involved in this. it's not really my area of expertise. i will let people focused on tech stock investing decide the fate of twitter. i'm focused on bitcoin. go bitcoin. emily: there is a huge crypto community on twitter and i wonder what you think the impact could be on the crypto community or do you think twitter should b

emily: they still have jack dorsey on the board who has almost a 3% stake until may.t to continue this conversation. i am joined by andy friedman. how much is a matter that the board members don't own a large number of shares? andy: thanks for having me on. it is not too unusual, and outline of arguing is not going to get musk very far. the board is protected by broadly way in the business judgment rule. when you have a company and board like twitter which i view is highly defended, a staunch defendant profile, looking at 100 or so public companies to assess the pathways to a hostile bid, twitter has a classified board structure. they're looking to declassify, but that's a two to three year plan. they are protected in the way that they have roughly one third of their board up for election, and that number this year is two directors. you need majority control to force through a hostile bid like musk's. when you think about twitter's profile, shareholders cannot call special meetings, can't act by consent, can't remove directors without cause. he needs to find a way to

we know that jack dorsey is still on the board, he and elon musk have a relatively favorable relationship. but this must be incredibly high-pressure stakes but for the new ceo. >> it is just an incredibly highly pressured moment for ag rawal. twitter is a company that has had a highly volatile time with outside investors. this is a company that does not have majority found her control so it is vulnerable to activist interest, and that nature of activity. i don't think this is the end of the elon musk story. we have even heard retail investors get very excited, and others who are running away from the idea that he could shakeup twitter. it was supposed to be a week where twitter employees would be heads down focusing on their work, but they are very distracted by everything that has happened here. caroline: there was talk of having a meeting to discuss this very bed at 5 p.m. today. we wonder how this conversation is bearing. we will get you some outside perspective, mark and jasmine, great to have some time with you. jasmine, just talk to us about what you think elon musk wants out of thi

emily: i'm curious what you make of the evolving relationship of elon musk and jack dorsey, with bothying a big role in the crypto community, crypto twitter, a huge community, and elon musk know joining the board of twitter with jack dorsey's support is the largest shareholder. adam: there were unfortunate incidents with twitter's mediation, deplatforming. it got controversial. i think he will be a positive improvement for twitter. sonali: you mentioned about the valuations, bitcoin held artificially where it is right now. where do you think it goes to the end of the year, and what do you think will take it there? sonali: -- adam: it is surprising to me it is not already a lot higher. many of the metrics and the news flow throughout the year are bullish indicators. the number of net coins moving off exchanges, which gets the large buyers, pool of potentially bought coins, the news flow of new etf's in various countries, new financial institutions providing related financial instruments. there is a lot of positive news flow. i think that the current bitcoin price range is to do with si

there was a headline talking about and reason horowitz, jack dorsey come in the crypto "holy war" thats brewing. >> ok, i think that is a little dramatic. having said that, it is entertaining. i think defi is fascinating. it changes the paradigm of who owns, controls, and operates companies, so there is an opportunity to expand the aperture of how these companies are run and created. i also think we are only in the first inning of defi. we are seeing experimentation in infrastructure and vertical products, but you have not really seen use cases come to fruition and build significant scaled companies, where you are seeing these broader use cases used in consumers day in and day out lives. emily: right. >> it is exciting, and i think along with the rest of the crypto market in the fintech market, it continues to show the level of interest in investing in this area of the united states economy. emily: yeah. i want to ask you quickly about your new book, self-made boss, which you cowrote, and you talk to entrepreneurs, owners of small and medium businesses, son me of your customers when yo

that said, i don't think his world view is that different from jack dorsey, who led the company for manyears, it seems like they have similar philosophies, so we will see how involved he is on the day—to—day. how involved he is on the day-to-day-_ how involved he is on the day-to-day. given it has set out his view _ day-to-day. given it has set out his view of _ day-to-day. given it has set out his view of being - day-to-day. given it has set out his view of being an - out his view of being an absolutist when it comes to free speech, you think the ground has been set for a conflict with regulators in the months ahead?— conflict with regulators in the months ahead? yes, i think he is not even _ months ahead? yes, i think he is not even an _ months ahead? yes, i think he is not even an absolutist - is not even an absolutist remotely even when it comes to his track record, so will see if he abides by that and what those consequences are. he decries spam bots, and crypto spam bots, you cannot clean up spam bots, you cannot clean up spam on a platform unless you are moderating in some capacit

is jack dorsey one of them, potentially?d: there is a lot of theory-driven stuff that jack dorsey comes back. there were a lot of tweets that he put out overnight saying that he had concerns of -- concerns for the platform for some time. "taking it back from wall street is the correct first step," was one of the things he said in his first tweets. he said he was concerned about the platform being a publicly traded company. "elon musk is the singler solution i trust." twitter insiders i have spoken to ask what is going to happen to their own jobs and equity compensation. this is what employees want to know about. the big question is, what happens to hierarchy? the current ceo was quoted in a statement. that he gave to town hall last night. jack dorsey backed him in a tweet last night. it seems he will remain ceo for the time being. but we just don't know. does elon musk walking to the office one day and say, "hey, i have arrived, i now room this -- i now run this." guy: i'm still figuring out the whole cash poor thing to elon

even jack dorsey laden and took time out of his busy schedule.d, the board is awful, they've always been awful. jackie is first to say that. no. >> i can't say that but that's the best part one elon musk said we will turn twitter into a homeless shelter, have you seen jack dorsey? i met him outside once, i didn't know him like i'm so sorry but i left this because he's upsetting the worst people. the people on the left, they will have to work a little bit when it comes to political discourse, they've had a good run for they didn't agree with the it was hate speech and it went away. might not go away now. it's funny because they've gotten by so long that they don't know what else to do. the white supremacist, none of these which is so silly but i love watching because there's nothing they can do. kennedy: they did a poll within twitter, 200 employees there like 68% of us say it's a bad idea of elon musk -- [laughter] it's amazing, you dingbat, free rocket ride. >> to keep saying things it's bad for free speech like what do you mean? kennedy: it's p

guest: yes and the new title block, i mean jack dorsey is just kind of crushing right now.r and thank you very much kelly o'grady, and what we will say is having children above the competition here and he was on the story when no one was on charlie, and the hard part now is in plummeting a lot of this right. charles: right and listen, don't ask me why i read the wall street journal major turn of events and they're going to accept his offer like it was a surprise, we been saying it from day one on your show that they have to take it if j.p. morgan and goldman sachs said no, 253 billion-dollar offer, 38 percent premium over where the stock was running before elon made it bed, j.p. morgan and goldman sachs, and the two advisors to twitter, we never be able to self thing ever again and you cannot even believe is like . charles: say no and see what you can cook up on a higher bid or whatever which never happened you know, they were saying well a 70 plus year high, that was - >> there's seven year plus hi and they had to take this, like the godfather, make an offer that they coul

there is expected to be extreme scrutiny on the deal, which jack dorsey, we are told, was very much a part of being on the board still. he was very much a part of pushing for the deal that takes the company private. we also know that there are a number of banks, six, maybe five banks and an investment boutique bank that will benefit handsomely from being involved in this biggest lbl in recent years. typically these banks take anywhere from one to 3% of the size of the deal. so that is a couple hundred million to be split up among the banks, a handy fee indeed for just a couple days work. back to you. yvonne: still a lot of questions on how he is going to raise the cash for this deal as well. still a lot of speculation on is he is -- if he is going to have to sell tesla stock. still on lingering questions. we talked about jack dorsey chiming in on the acquisition, now we're hearing the likes of jeff bezos in the last few minutes, the amazon founder, posing a pretty provocative question to elon musk when it comes to this deal. did the chinese government just gained a bit of leverage ove

to leave, then they said they were in favor of jack dorsey staying, and then jack dorsey did leave.was over a longer timeframe, but you could say it is not as though elon is the only person who changes his mind on things. the pace he changes his mind on things is certainly remarkable, and if you were to look at the volatility of twitter shares, they spiked significantly. i'm not sure that is what you would want as an investor. kriti: i am interested in what this means for tesla shares because there isn't really a connection between twitter and tesla on a fundamental basis, yet with these kind of developments, we have seen them both move in tandem. can you talk to us about the readthrough into tesla and it comes to what elon musk is doing? alex: twitter is the main mouthpiece that he uses to generate earned media, money he does not have to spend on advertising because he tweets and the press covers it, and that benefits tesla. the second way of looking at it, and he has not expressed his reasons for getting into twitter, is he saying that my capital is better allocated to twitter sto

the bike, bike plus, and tread, now $150-$500 cheaper. >>> former twitter ceos jack dorsey first-ever tweet came in 2006. you see it here. dorsey sold that tweet last year as an nft for nearly $3 million. last week, the buyer of the nft put it up for sale, hoping to get 48 million. turns out, there is little interest. so little that the first auction closed with the highest bid at $280. more bids have come in sense. the latest at about 10,000, but still, more than a 99% plunge in value on paper, or on digital, or whatever happens in this space. >>> on wall street, the markets capped the last session of a shortened week in the red. the dow drops 113, the s&p down 54, the nasdaq down to 93. more than a 2%. >>> i'm shepard smith, on cnbc. it's the bottom of the hour. time for the top of the news. witnesses in johnny depp's lawsuit against his ex-wife amber heard but the talk of horrendous abuse and surprising testimony that contradicts one of the biggest allegations. >>> a russian woman comes out strong against her own country, telling us in her own words why she is letting part of her l

>>> this morning, wide reaction from twitter founder jack dorsey amazon's jeff bezos and even donald trump to elon musk's $44 billion plan to take twitter private. >>> the u.s. says vladimir putin is failing to reach war goals and wants moscow to be weakened militarily >>> former president trump facing fines of $10,000 a day after a new york judge finds him in contempt of a civil investigation into his company. >>> new body cam footage released in the deadly "rust" movie set shooting, including revealing interviews moments after the fatal accident. >>> with more states approving recreational marijuana, the cautionary tale about h hypoency thc that's making people sick and dangerous to kids >>> "early today" starts now. >> we begin this morning with the blockbust er agreement the world's richest man buying twitter. tesla and spacex ceo elon musk will be in charge of one of the world's most influential social media networks it is a $44 billion deal, the largest according to the "new york times" to take the company private in at least two decades. under the deal, investors will get $54.

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jack dorsey says publicly, that's not a good look, particularly if you want to, if you are trying toon suit by turning this down, so we'll see and by the way wednesday, as you say, i'll be in the air flying to miami for a little r & r, but wednesday is 4/20 which is elon musk's favorite number and apparently there's a tesla earnings call. maybe he announces something then. liz: we're all over that story on wednesday, and we'll be watching twitter, which is now up about 7% at the moment, so twitter a nice terror up just 2.6% since musk made his investment. charlie: liz i think it's up on what i'm just reporting now because my thing just hit the tape. liz: yeah, okay thank you very much. kenya's perez, the woman's winner at the boston marathon today and our countdown closer has stocks he says will run your portfolio profits to the winning finish line and be sure to stick around at the top of the hour. it's a special tax day addition of kudlow. taxes, it's the people's money. 4:00 p.m. eastern just minutes away only on fox business. closing bell we'll hear it in eight minutes, don't go

>> jack dorsey and elon musk in a way want the same thing. in moving toward a decentralized platform, you take away the controls from the few and give it into the hands of the many. what would that look like? it would require the community to start creating rules for the platform, and twitter has experimented with this they introduced bird watch, kind of community moderation of content on the platform. i don't know what that looks like to date the only big platform that has that is wikipedia there's still a lot of problems with it despite there are advantages as well it's ran through a nonprofit foundation we've seen never a major social platform be completely governed by the masses. unclear what that is going to be i will say if you take a big picture look at twitter, for investors, this has been a tumultuous time for the company. first, elliot management came in as an activist investor, essentially forcing jack dorsey out. now less than a quarter in you have this new major investor outside voice also one of your biggest platform users comin

obviously, jack dorsey is involved. he tweeted an unusual tweet about radio had, enough some, there's a way it should be. it sounds like he was putting in a way, i'm not even sure, i can't even tell. obviously, jeff bezos way way than in a negative tweets. but, i honestly think he's going to run it, and then possibly take it public again in a different format, a different form with maybe a different business, maybe not advertising, and we subscription. maybe public square. maybe it'll become a utility, a public utility. who knows? >> on a show that week by twitter cofounder jack dorsey where he writes, and principle, i don't believe anyone should own or run twitter. it wants to be a public good at a political level, not a company. solving for the problem of it being a company, however, -- here's the thing, i do love it when these brazilian airs talk about, let's just do public good, and no one should own it. finding twitter zalmay jack dorsey the billionaire he is today. so that is hard for me to stomach. >> it might be

he has a point. aside from jack dorsey, who's leaving the board in may, jack dorsey has about 2.25 percent ownership steak and twitter. the rest of that board has weigh less than one percent ownership stake. and so they don't, you know, they are fiduciary for shareholders. but in terms of, you know, actually having any skin in the game here, they have 0 skin in the game and i would also add for your viewers that prince. i will lead who wants to part time, they have owned something like 5 percent of twitter are no longer. ready does i'm not sure what he owns at the moment. i'm not sure what, how relevant it is that he's tweeting about? he is view of, of you on must offer he's and he's not involved anymore. and he's not on the board . he's has no influence. he's not a large shareholder, so not sure why anybody would listen to him at the moment. but you know, the key here is some. ready big shareholders that are out there, which are a big retail of asset management. companies like black rock, like morgan stanley, like vanguard, which is the largest shareholder at 10 percent. so i think they'r

>> yet another wild card in this very complex situation, sara jack dorsey did send a tweet that indicated and he explains in one of these tweets what went down, why he doesn't control the company and he pointed out when he was fired in 2008 and made share, the board took most of my shares away he said i gave 1% of the company back to the employee pool in 2015 he's explaining why he doesn't have controlling -- a controlling vote in the company. but also, sort of pointing fingers at the board for preventing him from owning more of twitter it will be interesting to see as they tweet at each other, this drama is of course all playing out on twitter, how he supports musk's argument. but in the meantime, you can bet that the board is looking for another buyer to pay more for twitter. >> absolutely. julia, keep us posted. thank you. >> shares of didi plunging after the chinese ride hailing company reported a nearly 13% drop in fourth quarter revenue and announced shareholders will vote next month on whether to delist from the new york stock exchange the news putting pressure on the rest of the c

he joins jack dorsey, salesforce co-ceo brett taylor. joining us, jeffrey sonnenfeld, and steve kovac. it's good to have you both here. jeff, i think the question of the day is, as a board member, he's one of 12, he is the most vocal. he is the most active on twitter. what kind of power does he have to make changes to the platform and to the company >> you know, he adds a lot to the party here of course, there are three big concerns the one you raised is the biggest one, but many people inside the company are worried about what the content character is going to be, and of course, there's an upside here on product quality. the first one, on governance, this is a spectacular board, a board that knows how to work with entrepreneurs a board where they may have hoped for more reinvention of the company. he'll bring that, but they have the financial heavies there, the ceo is very promising. he's pretty new on the job they have the best chief financial officer, one of the best in the industry, for sure with ned siegel. i think it's very encoura

this is elon musk versus jack dorsey. than: dorsey has taken a backseat on all of this, hasn't he? the other thing i would be think about from a stocks perspective, does this become a stock that is based on fundamentals anymore or based on story? the reason is we've got a note from jeffries on twitter that makes this point, that investors will be disease substantial progress towards twitter's 2023 revenue and daily user targets given that the stock is trading at more than a 100% premium to facebook and meta platforms. tom: it is about the fundamentals, and the fundamentals are not there. i don't get the revenue platform. i need our great team at bloomberg intelligence and others to describe for me what the revenue platform is. tom: -- jonathan: can you describe the rationale behind this move yet? tom: tesla 101. it is elon. maybe jack dorsey ought to go up in space. lisa: can you explain to me the move in dogecoin when elon musk was talking about it? what does fundamentals actually mean? some people are speculating with th