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An abrupt exit for the CEO of Twitter

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Even by Silicon Valley standards, Twitter’s Jack Dorsey is an eccentric executive, Kate Conger and Lauren Hirsch say in New York Times. Known for his bushy foot-long beard, eating one meal a day and meditating on religion, the social media company’s co-founder “became a celebrity outside of Silicon Valley, parodied above Saturday night live“But this week, Dorsey bowed to ‘questions about his leadership and focus’ from employees and investors, handing the top job on Twitter to Parag Agrawal, an aide. top and confidant Dorsey’s time at the helm of Twitter often caused quite a stir. He was fired in 2008. , a year after Twitter launched, and then returned in 2015. Over the years, Dorsey has “surpassed years of pressure from investors who say Twitter isn’t making enough money” and criticism from Republican lawmakers, who say Twitter has “muffed its voice” say conservative.” But much of his attention seems to be elsewhere, including his other company, financial services firm Square, when Twitter banned Donald Trump after the riots in the Palace. Capitol on January 6, the decision was made by one of Dorsey’s subordinates – while Dorsey himself was “on a private island in French Polynesia. “

Jena McGregor says Dorsey is on a clear break. Forbes. Founders often leave the CEO job “just to take on the role of executive chairman or director.” But “Dorsey will be leaving both roles.” That was probably a move in the right direction. Leaders who just hang around tend to put more pressure on their successors. Scott Rosenberg said Dorsey first scribbled the idea for Twitter in a legal pad. Axios. But recent years have shown that running a social media company is much more political. Users blame Twitter and Facebook for “polarizing national politics, misusing personal information, and allowing widespread hate speech,” and executives are frequently brought before the nation. to be punished by legislators. What fun is that?

Agrawal is much more “straightforward” than his former boss, saying The Economist. He is an engineer with a Ph. in computer science from Stanford University. However, he has some ambitious goals. One is transforming the company from a social media service into a decentralized platform that hosts all “internet conversations.” Whichever direction Twitter goes, it will “have a huge impact on American politics in 2022,” Emily Birnbaum and Alexandra Levine say. Politico. Now, “conservative activists and lawmakers have been pounding” on Agrawal, arguing that “freedom of speech” has limitations. Democratic lawmakers said they intend to pressure him to remove hate speech and misinformation.

Silicon Valley founder fetish may be fading – again, Ellen Huet says in Bloomberg. “In the early days of today’s leading companies, the prevailing view was that star-eyed founders had great ideas but couldn’t lead.” Steve Jobs at Apple flipped that scenario; Elon Musk and Mark Zuckerberg followed in his footsteps. Dorsey is “one of the biggest beneficiaries” of lionizing founders. But his struggle to win investors proves the limits of the model. Dorsey himself offered an astute analysis this week, noting that founder-led companies all have “a single point of failure.” Comment worthy of attention: Dorsey is often ahead of trends.

This article was first published in the latest issue of The Week magazine. If you want to read more like it, you can try the magazine’s six risk zeros here.

https://theweek.com/business/1007684/silicon-valley-a-sudden-exit-for-twitters-ceo An abrupt exit for the CEO of Twitter

DevanCole

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