He reckons the company is ready to move on from its founders...and he's ready to move on to Square (and other things).
Background: Jack Dorsey is the American tech entrepreneur famous for founding two massive companies: social network platform Twitter and payments platform Square.
What happened: Jacky D's been the CEO of both companies since he founded them...and that's been a bit of a running problem for both companies. Twitter's share price is the same as it was in 2014. Compare that to Google who has 5x'ed since then. Or Facebook, which has 6x'ed.
What else: Now, he's stepped down from his role as CEO at Twitter. He reckons the company is ready to move on from its founders.
💡Founder-led companies are generally those whose founder is the CEO, president or board member (think: Elon Musk with Tesla, Mark Zuckerberg with Meta...or Sarah Blakely with Spanx).
💡Many investors are attracted to founder-led companies because:
💡But it's fair to say the founder (Jacky D), who's also the founder of another business (Square) is probs not the right person for the job. So now, Jack can pursue other projects like Square, crypto...and probably the metaverse.
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