What is next for Jack Dorsey after stepping down from his position is one of the big questions on the mind of people.
It is no news that Jack Dorsey, the co-founder of Twitter, has once again resigned from his position as CEO of Twitter.
In his statement, he wrote, “It’s finally time for me to leave”, as he officially handed the position to Parag Agrawal.
Jack started his journey with Twitter as a co-founder of the platform.
Later he became the CEO then resigned in 2019.
After resigning, he had set up an online payment platform company, Square.
Then in 2015, he returned as CEO and started running the two companies together.
However, this drove issues with some of the investors as they were not happy about it.
They wanted him to choose between one of the companies.
Elliott Management, a large Twitter investor, took four stakes in the company intending to replace Jack.
He wanted a CEO that spent his time on Twitter alone.
This led to a battle for the CEO position for Jack, which he, however, won.
However, that was not the end for Jack.
Elliot had established some of his people on the board.
There was a prevailing opinion that Twitter wasn’t utilising the platform to generate more revenues.
But with, jack’s effort to grow the company significantly gave him more chance as the CEO.
Also, he had announced to grow the platform’s monetisation for users by the end of 2023, doubling the revenue in the year.
Now that he has gone, Parag Agrawal would be taking over the position, leaving everyone wondering about his next big step.
Although we aren’t entirely clueless, as he mentioned in his statement, he would remain on board till May to help the new CEO and new chair.
Also, he had made some unbelieving statements making people more curious about his next move.
Jack said that “there’s a lot of talk about the importance of a company being ‘founder-led’. Ultimately I believe that’s severely limiting and a single point of failure,”.
The statement could initiate many things, like a founder leading a company leads it to failure.
And it might put other founding CEO on the spot.
However, Jack didn’t just say that.
He spoke on how he dedicated his time to growing the platform to break away from the “founding and founders”.
And he believes now is the time for him to finally move on.
This might be a giveaway and makes one think about the digital payment platform Square.
That, Jack, would continue to lead just like he did with Twitter till it could break away from the founders.
Also, the tech enthusiast has been a big advocate of cryptocurrency, especially Bitcoin.
While he was CEO at Twitter, he had set up a crypto team to help the company leverage digital assets.
However, now that he is gone, Parag would take over the team.
With Jack’s obsession with cryptocurrency, he might be looking for other ways to leverage the digital asset.
Although he had launched a decentralised financial service on Square using Bitcoin.
More light on Jack’s statement
Jack Dorsey is known for his passionate movement of bringing the world together with the use of tech.
And the reason he noted for stepping down was to give room to a CEO who truly understood what the company and its need.
When he was Twitter’s CEO, he aimed to improve users’ experience rather than look for more ways to monetise the platform.
And this he believes that Parag would be able to do and create more revenues for the company.
And with Bret as CEO, they would be able to scale the platform excellently.