Jack Dorsey, co-founder and CEO of the social network Twitter announced his departure after 16 years at the company. This entrepreneur was one of the creators of one of the most well-known public discussion spaces globally and had the opportunity to lead it since 2015.
As he himself was able to announce in an email to all his employees, his replacement will be Twitter’s current chief technology officer, Parag Agrawal. Agrawal is one of the company’s most senior figures and one of its heavyweights. Since he assumed his previous position, he has been one of those in charge of modernizing this social network to make it more competitive against others such as TikTok or Instagram.
Precisely this could be one of the causes of Dorsey’s resignation from his position. Investor voices had reproached the hitherto CEO that Twitter had fallen behind its most direct competitors. This accusation was reinforced by the months that the company has been accumulating losses, despite the apparent growth of active users, which is already around 211 million.
Add to this that Dorsey is also the CEO of a payment processing company called Square Inc. Several shareholders accused him of focusing more on this company than on Twitter, so his resignation was well received by the markets, as the company recorded rises. He will remain on the board until May 2022 to support the company’s transition with two clear objectives: to double Twitter’s revenue by 2023 and to increase active users to more than 300 million.
This social network was conceived as a method of communication between friends, but over time it became a broad space for debate, which on many occasions served to promote and encourage political debate. Political and social movements of the early 2010s, such as the Arab Spring, are understood due to the existence of Twitter.
Dorsey was CEO in a period between 2006 and 2008 to then be removed from his position of responsibility in that year due to the numerous projects he is carrying out. After a period of time away from the head of the company he returned in 2015.
During these years his image has been one of the most well-known and controversial on the Internet. Known for being a very bohemian figure within the world of telecommunications, Dorsey always bet on leading a lifestyle different from the one that is assumed to be led by a director of a multinational. His lifestyle even led to confrontations with the company’s investors, as he would disappear for long periods of time to practice his meditation and even went so far as to consider moving to Africa and running Twitter from there.