Twitter Shares Down 4% On Dorsey's Statement About Harassment On The Site

(RTTNews) - Shares of Twitter Inc. (TWTR) is currently down 4% on Wednesday after the social media giant's CEO Jack Dorsey discussed about "not proud of" ways that Twitter has been used.

In two interviews, one with Rolling Stone and the other with The Bill Simmons Podcast, Dorsey discussed several issues affecting the platform.

Twitter, which was founded in 2006 and is currently one of the largest social media network in the world, has become a place for hateful speeches, with divisiveness among the users.

"I feel the weight of how our tool is used in society and how it's been used for good and how it's used for stuff I'm not proud of," Dorsey told Rolling Stone. "Like creating bubbles and echo chambers. I'm not proud of that. Like, we definitely help divide people. We definitely create isolation. We definitely make it easy for people to confirm their own bias."

"We've only given them one tool, which is follow an account that will 90 percent confirm whatever bias you have. And it doesn't allow them to seek other perspectives. It contributes to tribalism. It contributes to nationalism," he added.

When asked by Simmons about the company's fix for harassment problems, Dorsey said, "I don't think there's going to be one single fix. I think it's going to be a constant evolution."

"I will say that we don't feel great about the state that we're in," Dorsey said. "Our entire harassment and abuse framework is dependent upon people reporting harassment and abuse, and it's completely unfair that the victim of the abuse and harassment has to report it themselves."