Twitter’s Jack Dorsey Has Resigned

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Photo: Joe Raedle (Getty Images) – The CEO tweeted shortly after the information was revealed to CNBC that his time had come to an end. There is also a big jump in Twitter’s stock price. The resignation of Jack has been announced.

Tweeted a company-wide memo this morning, indirectly suggesting that the firm has gotten too “founder-ied,” which he feels is “severely restricting” Twitter. Why? I don’t know. This is the CEO equivalent of Tom Bombadil.

Parag Agrawal, Twitter’s CTO, will take over as CEO today, he said. For the sake of “giving Parag the freedom he needs to lead,” Dorsey intends to retire from the board in May. “It is vital a firm can operate on its own, free of its founder’s influence and direction,” he says. He would have to stand down from Square (the firm he started) if he follows this argument.

With no other details, the news was first reported on CNBC this morning. A guy must be given credit for his efforts. Jack has kept his plans in place, no matter what happens on Twitter.

For six months in 2019, Dorsey said that he will be going throughout Africa to spread the word about bitcoin. Bitcoin will be the currency of the future in Africa, he tweeted. Square is also led by Dorsey, who is the company’s CEO. As of early 2020, Paul Singer, a billionaire Twitter board member, requested that he leave owing to a lack of concentration on both of his businesses.

Following the announcement, Twitter shares temporarily jumped 11%, but trading was shortly suspended due to volatility..

A year after his initial stint as CEO of Twitter, Jack had to step down from the position due to his concentration on fashion design among other things. The IPO made him affluent, and he returned to Twitter in 2015 as CEO after serving as executive chair from 2011 to 2015.

Everyone hated Dorsey as much as they hated Zuckerberg because of the way he slowed things down. “C” grades were in order by the time he managed to achieve near-nuclear destruction with his cryptic speak-softly style. Few of the phrases he came up with made any sense.

But when Twitter eventually shifted, it shifted. Social media platform Twitter has taken action against political advertisements and fact-checking by banning them as well as Donald Trump.

After everything was said and done, Twitter was to blame for a major headache and for dragging his ass to a congressional hearing. It seems that Bitcoin conferences are the better option.

This is a narrative that is still unfolding. Keep an eye out for more information.