Early Twitter backer hates the stock he once loved, dumps shares
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A billionaire venture capitalist who was among the first investors to back Twitter (NYSE: Twitter [TWTR]) says he now hates the stock he once considered as one of his own children.

In a somewhat ironic series of tweets yesterday Chris Sacca revealed that he had sold all his shares in the social media platform over his disapproval of the leadership of the company.

Mr Sacca later tweeted that his fund sold most of its Twitter shares after co-founder Jack Dorsey returned to the company as CEO in October 2015 and dumped his personal shares around a year later.

The investor is probably not the only one who has fallen out of love with the company, whose share price has fallen almost 80 percent since its much publicised IPO in 2013.

Twitter has yet to turn a profit and has struggled to add new users over the last few years after witnessing exponential growth while in its infancy.

Mr Sacca said "Twitter's best chance right now would be to open it all up to developers again and give them a sincere chance to make it great."

He also suggested resolving the "bot epidemic", referring to programs that allow users to publish produce automated posts or automatically follow other users.

However, he points out that this could have a negative impact in the short-term by reducing overall user numbers.

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Хотите узнать больше о гражданстве за инвестиции? Оставьте свой адрес, и мы пришлем вам подробный гайд

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