Quick take:
- A16z has joined a growing list of web3 backers helping Elon Musk make Twitter better.
- General partner Sriram Krishnan shared a picture of himself at Twitter headquarters saying he was temporarily helping Musk with the social media company.
- Musk on Monday dissolved the Twitter board becoming the sole director, days after sacking CEO Parag Agrawal.
Elon Musk’s decision to disband the board making himself the sole director so soon after the takeover may be perceived to be bordering on crazy by those who prefer a conservative approach to change.
However, such decisions are what make Musk the person he is today, and for certain, he wasn’t going to change for the sake of Twitter. Barely days after taking over, Musk has made significant proposals including introducing a monthly Twitter Blue subscription of $20 and bringing the defunct short video loop platform Vine.
All these announcements come hot on the heels of Twitter’s recent launch of Tweet Tiles for NFTs, a feature that allows users to buy NFTs directly from tweets.
This suddenly feels like too much for the staff to take in, especially considering those who followed CEO Parag Agrawal out of 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 take Twitter to the next level.
Binance CEO Chengpeng Zhao recently stated that his company will help bring Twitter to web3, declaring that Binance’s $500 million stake is part of the crypto exchange company’s grand strategy of onboarding social media and news companies and their audiences to the next iteration of the internet.
And on Sunday, Musk welcomed yet another support from an industry expert after Sriram Krishnan, General Partner at Andreessen Horowitz’s (a16z) crypto arm, revealed he had joined some other great people 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.
Krishnan previously worked at Twitter from 2017 to 2019, during which he helped grow the user base by more than 20%. Krishnan’s experience with social network platforms and tech in general also includes previous stints in Snap, Facebook, and Microsoft.
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