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Dec 3, 2021 6 min read

Jack Dorsey Quits as CEO of Twitter (Again) To Focus On Block

Jack Dorsey Quits as CEO of Twitter (Again) To Focus On Block
Credit: COLE BURSTON/BLOOMBERG/GETTY IMAGES

Wiser! Essay: Jack Dorsey has quit for the 2nd time as the CEO of Twitter. But he still has a day job because he's also CEO of Square, aka Block.


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I Love Twitter

Back Story:  Twitter founder Jack Dorsey announced his resignation this week from the social media platform he launched in 2006.

This was Dorsey's 2nd stint as CEO having been ousted from this role in 2008 only to return to the helm in 2015. The 45-year old CEO is also the boss of the payments platform Square and it was this dual CEO lifestyle that caused the crypto-advocate grief from shareholders who questioned his commitment to running Twitter.

This grief primarily came from shareholders Elliot Management and Silver Lake, who were both given a board position last year in an act of appeasement by the Twitter board. They made no secret of their demands for Dorsey to solely focus his efforts on Twitter...and for Twitter to grow its user base, speed up revenue growth and gain digital ad market share.

The TakeAway:  The question I find myself asking is "why did it take him so long?" (assuming he made the decision himself, as he said he did).

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