Twitter to Name Jack Dorsey Permanent CEO | Hacker News Reader

Twitter to Name Jack Dorsey Permanent CEO

recode.net

123 pointschollida138 comments

The chart looks interesting on this news. It shot to as high as 27.40 in the 30 second period after this was announced and then fell back to its original price level within 5 minutes.

It looks like the machines like the news much better than the humans do:)

I wonder how many of those bots detected the others and shorted back to the original price at ~20s.

From a shareholders' perspective this is probably great news. But with Square looking to IPO soon they're likely going to have to find a new CEO also -- there is no way that investors will take them seriously if Jack is running two different companies in two different spaces.

Based on fiduciary responsibility to current Square shareholders, I can't believe he's allowed to do this.

Square isn't public so I imagine that the private stakeholders either are OK with him taking the job or aren't able to stop him (if he owns enough stock).

Since many B2C IPO strategies seem to benefit from generating media buzz, I can imagine the keyword tie-in to Twitter only helps.

Also, the CFO is probably just as important if not more for getting the company ready for IPO.

I bet he steps out of Square or sells it. Square is much less likely to price an IPO than people think.

Elon Musk is the CEO of a public company (Tesla) and also the CEO of a private company (SpaceX)

Serious question: How can someone find the time to be CEO of two companies? I can't imagine even being a full-time engineer at two companies.

Management is easier and takes less time than programming.

This is not necessarily true at all. Based on what I've heard of Jack and Elon, they work 16+ hours a day. I think that's the answer.

But it's important to remember that Elon and Jobs were unicorns. It should be an immediate redflag if people compare others to them. I also think it's unfair to compare Square/Twitter with SpaceX/Tesla or with Apple/Pixar.

Also the above commenter's point, talking to people 16 hours a day does not mean you're working. An engineer's work is quantifiable, so they can be held accountable when they claim they work 16 hours a day. Not so for a manager. Their effect (good or bad) is far more difficult to quantify.

I think that's a very simplified way of looking at the way companies work.

Both your premises are incorrect

I read that Dorsey basically divides his day into Twitter in the morning and Square in the evening, or something to that effect. I believe he lives walking distance to both offices in the Mission.

For accuracy's sake, he must live in the Tenderloin then, maybe at the NEMA apts. Twitter and Square are both in the Tenderloin, the Mission isn't really walking distance to that area (right on Market).

edit: Alternatively, he could live in the mission and then walk between the 2 offices during the day, they're right next to each other.

Twitter and Square are both in SoMa (around 10th St. south of Market), which is not considered part of the Tenderloin.

The Tenderloin's on the opposite side of city hall.

Makes sense. I have zero sense of San Francisco neighborhoods, I just read that he lives near both.

The role of a CEO and an engineer are typically much different. Most would probably say that being the CEO of two companies isn't feasible. However, some of the most important parts of a good CEO are hard to replace. A part-time CEO with strong vision and leadership may be able to more effectively lead a company towards success than a full-time one without the right vision or leadership.

By having trusted and capable senior leadership in each company, so that the CEO job is limited to managing that team and harmonizing disagreements among them.

I think I recall reading that Musk gives Wed-Sat at Tesla and Sun-Tue at SpaceX.

I doubt it works like this, and if it does, it's exactly why people think it's a crazy idea. Do you really think it's possible to be the CEO of a major public company, one that's changing the game and has a very high profile, and have a schedule where you take three days "off", to work elsewhere?

Then again, somehow he's doing it.

Engineers Do Stuff. CEOs Think & Share Ideas. Implementation takes more resources.

And Chairman of Solarcity. Busy man.

I thought the conventional wisdom was that Twitter needed someone that wasn't usual suspects of Jack, Ev, and Dick. Also given the fact that Jack was specifically slighted with the "Twitter needs a full time CEO," remark, I can't see how this is anything good.

From https://twitter.com/SJosephBurns/status/640698530038943748:

"Twitter needs a CEO who is an @elonmusk with the Street and a @pmarca in the tweets. - @zerobeta"

Would this be similar to Steve Jobs who served at Pixar and Apple at the same time? Or Elon Musk who simultaneously heads SpaceX and Tesla?

Dorsey admires Jobs a lot privately from what I read. Also legendarily I heard he runs between the two building days and nights, since Twitter & Square are literally next to each other.

Elon maybe, but not Jobs. Jobs was Pixar's investor and an advisor, but he didn't run the company.

http://alvyray.com/pixar/PixarMyth5.htm

Although Jobs originally wanted to buy/run Pixar and essentially turn it into Apple's competitor (this was post-Apple and pre-NeXT). It wasn't until Jobs was occupied with NeXT that the Pixar guys were comfortable bringing him in.

Performance is all that ends up mattering at the end of the day. Both Apple and Pixar ended up as wild successes - so yes, Jobs could effectively run both (in hindsight).

The futures for both Twitter and Square are not so sure. At face value, seems like a net positive for Twitter and a net negative for Square.

Steve Jobs didn't really run Pixar.

Jobs was an investor in Pixar. He didn't run the company.

Given it's Jack, the guy who obsessively imitates Steve Jobs, I wonder if we'll see this "interim CEO" (gee, wasn't Jobs that for a while in the 90s at Apple?) who becomes full CEO, eventually get Twitter to introduce a mobile hardware device to the market, in the hopes of continuing to go down the Jobs path, a la iPod.

http://recode.net/2015/09/30/sources-jack-dorsey-to-be-named... is the source linked to in the article.

Thank you. Url changed from http://www.bloomberg.com/news/articles/2015-09-30/twitter-to..., which points to this.

Surprise, surprise.

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