In a natural move, Jack Dorsey, the iconic founder of Twitter, and its CEO, stepped down today, handing the role to Parag Agrawal.
It was a nice, transparent action - as transparent as you can be if you're the CEO of one of the largest centralized social media networks in the world. There was also a bit of bitter-sweet humor, because just before announcing he's leaving. Jack tweeted: "I love Twitter". This lead to a string of mean-ish comments, of the type: "all men are telling 'I love you' to a woman, before leaving her".
Anyway.
This move has at least two major consequences, one of them being related to the topic of this community, namely crypto.
The first one is a strong message sent across the entrepreneurship ecosystem: a founder-led company is not necessarily a great company. Among other issues, it has a single point of failure. While not talking directly about decentralization, this move is a fair move in that direction. Distributing power to many different, but complementary roles, will strengthen the structure. Also, with a single move, Jack Dorsey made a dinosaur out of Mark Zuckerberg, who is still leading Facebook. Not only leading it as a founder, but steering it abruptly towards the Metaverse. Whatever that means for him. Zuckerberg is pretty much alone now, and less and less effective.
The second impact is related, as I said, to crypto. Jack Dorsey is a big supporter of Bitcoin. He was famously saying at the end of a conversation with Elon Musk: "I hope Bitcoin brings world peace". Quite an ambitious goal. Well, from this position, Jack can be way more useful to the world than as a Twitter CEO. Whether is by investing directly in projects or infrastructure, or by advocating for adoption and smart regulation, he has the chance to become one of the most balanced characters in this world. I don't say "balanced" in the sense of dialogue, but mostly in the sense of "belonging to both worlds". Just like Elon, Jack is not some random dude who got the chance to mine Bitcoin in 2013-2014, and ended up with a few hundreds Bitcoin, thus turning into a crypto-millionaire. He is a proven entrepreneur, and his involvement in crypto has a lot of potential.
But, at least for now, his involvement "all in" in Bitcoin is just a rumor. I wonder if the recent spike in BTC price was because of that... And now, that if the "news" is out, selling should resume. I guess we'll see pretty soon.
Posted Using LeoFinance Beta
Interesting I saw the "I love Twitter" tweet, but hadn't heard he resigned.
I've always been skeptical of him being involved in any crypto, how can you handle a "free" money if you platform is so manipulated by the media and politicians regarding free speech and discussion.
Posted Using LeoFinance Beta
Maybe thats's one of the reasons he resigned? To escape from that politicianist conundrum?
I guess it will become clear depending on what he does next.
Posted Using LeoFinance Beta
dont forget, Jack was cypherpunk, I am interested to see what he will do with blockchain tech
You can't trust a man who doesn't believe in free speech with a crypto project
Exactly... he doesn't just not believe in free speech, he literally censored the president of the USA... and now he wants to bring in decentralized social media. His values and plans walk different paths. I think that is all that needs to be said.
Posted Using LeoFinance Beta
His actions are very loud and those who say his company "made him do it".
Okay, so we know he has a weak character. I'll never be a Jack fan
Posted Using LeoFinance Beta
you should do some more research on Jack, you are still conjoining Twitter and Jack, separate the two, Jack is actually very big on free speech.
You mean I should see what he says he is about, instead of what he actually does?
:) All in fun no snark, I don't respect him. I watched him testify in front of congress.
Um go find it yourself, why are you demanding that I go show you proof of my opinion, if you don't agree with me cool, but I don't need to present my case to you. Your preaching to the choir, you are still combining acting as if Jack is Twitter, and to be frank who the fuck cares about his ideology his money is green. Check my resume bro please do not preach to me about "egalitarian seekers" when I have put my liberty on the line for more than a decade to oppose suits. We been talking about decentralization since Tim C May was around, cypherpunks still write code and we have been fighting these egalitarians you speak of since you were still in your father sack. Jack's a sell-out..tell me something I don't know.
I do not condone any content from this site but here you go, https://dailycaller.com/2021/01/20/jack-dorsey-profile-cypherpunk-speech-police-censorship-big-tech/
Well, I wouldn't be surprised if Dorsey now launches a blockchain or cryptocurrency that has a lot of traction in the market. And now it's a new competition or maybe it's a new metaverse idea.
Posted Using LeoFinance Beta
I think that political (free speech) implications of Dorsey's departure are going to be most interesting. Some claim that Dorsey, for all of his faults, was the only thing preventing Twitter from turning into China during Cultural Revolution. New Twitter might get increasingly hostile towards Bitcoin and crypto in general.
Posted Using LeoFinance Beta
More opportunity crypto-based web3 platforms, then.
👍🏻 Interesting idea, less Twitter, more BTC. Maybe combines it with his other CEO role at Square and strengthens their Crypto exposure. We‘ll see.
🙋🏼♂️ For sure he is an exceptional entrepreneur and as you said someone special like Elon.
wow. Pretty big news really. This will be very interesting to follow.
The world is changing and smart leaders are early adopters of the new crypto movement. Elon Musk got a big piece of the pie, same Jack Dorsey, let's see how much they will support it once we'll get into a bearish market.
Posted Using LeoFinance Beta
Really curious about that too, to be honest :)
Posted Using LeoFinance Beta
Maybe he should join Hive. We could delegate him some HP as well so he could get around with the platform.
Posted Using LeoFinance Beta
When big company CEO's step down my warning bells go off. Especially when they are as young as Jack. Definitely going to be something to keep an eye on...
Posted Using LeoFinance Beta
The main reason is the parag that comes new CEO.
Just got into crypto and I don’t really know much about it. But I don’t like this man😂
Posted Using LeoFinance Beta
For me, even if their news are affecting BTC ,I believe what sell down will still go up because their talk can't affect it forever.
Posted Using LeoFinance Beta