The most talked about news of the week have as a common denominator changes in the presidency of large and recognized companies that have made today’s society as we know it now. In addition to the change in Arteixo, the resignation of Jack Dorsey as CEO of Twitter, the famous microblogging social network that he himself founded in 2006, was also announced on Monday.
Dorsey said goodbye to the company by sending an email to the entire Twitter team, which he subsequently made public in his account on the social network. In it, he not only takes the opportunity to introduce the new CEO, Parag Agrawal, who to date served as Twitter’s chief technology officer, but also states that it was a decision he made on his own feet, hoping that his dismissal will allow him to the social network to grow independently and without added external pressure.
He had already been CEO in the first two years of the life of the social network, a stage in which his commitment to his management functions had been questioned, when he dedicated much of his time to taking yoga and design classes from fashion. During its last mandate, since 2015, Twitter has managed to improve in stability, but its growth has been stagnant in the face of the rise of other platforms such as Instagram or TikTok, very focused on the younger audience and on audiovisual content. There have also been several controversies related to the role of the social network in the rise of fake news and hate messages, especially in the spotlight after the takeover of the Capitol earlier this year.
The truth is that the rumors about Dorsey’s second exit from the Twitter dome had been around for several years, in line with the accusations of his first stage. Employees and investors of the social network have shown their complaints about the great time that the executive dedicated to other companies and initiatives that prevented him from focusing on the development and growth of Twitter. Since 2015 Dorsey has combined his social media role with CEO roles at Square, a comprehensive payments solution he founded in 2009 during his sabbaticals from the microblogging company. His support and activism in favor of a decentralized Internet and the blockchain is also well known.
Dorsey’s new life will not be boring after leaving Twitter either, as he will maintain the executive direction of Square in his unstoppable rise, currently valued at 98,000 million dollars, more than 60,000 million more than Twitter, after the purchase of several mobile payment companies. Such as the Spanish Verse or the recently announced purchase of Afterpay, an installment payment company that the official of the operation hopes to achieve in 2022.
This same Friday, coincidence or not, Dorsey announced Block, a new parent company to encompass all the initiatives in which it has a stake: Square itself, the app for investments in cryptocurrencies Cash App, the music streaming application TIDAL and two projects related to Bitcoin, Spiral and TBD54566975. For this very fact, you can become one of the most relevant figures in cryptocurrencies and payments through the Internet, and not settle for just being one of the list of company founders who leave their position after several years at the I command, just as Gates, Bezos or Page did in the past. Will Zuckerberg be next?
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