Sacca is a big time tech investor, with a string of big payoffs in the likes of Uber and Instagram. He is an early Twitter investor and at one time was the biggest investor in the company, but he’s fallen out of love with the stock. Here’s Sacca in an interview with Bloomberg:
“I’ve definitely sold some Twitter shares. I don’t own as many as I used to because I’m not an idiot, but I own more than I should because I’m an idiot.”
Sacca says he’s hoping Twitter sells itself off, because he believes the company can’t change for the better without “new blood.” Current CEO Jack Dorsey hasn’t brought about the kind of change Twitter needs to realize its potential, Sacca believes. A large acquirer, like Google or Facebook, might be able to monetize Twitter’s data more effectively than Twitter itself, he said.
“I literally should go to a Twitter therapist, just the 10 years of stress and trauma with this company,” Sacca said.