Jack Dorsey’s planned move to Africa divides Square and Twitter investors

Michael Nagle | Bloomberg | Getty ImagesJack Dorsey’s stated plan to move to Africa for up to six months is dividing Square and Twitter analysts. For Twitter, it comes in an election year in which social media companies will likely face increased scrutiny. Africa is ‘the future of payments’Some Square analysts see Africa as an untapped and under-served market. “I can see products like Square’s merchant working capital, and the ability to purchase bitcoin and do fractional investing, having signi


Michael Nagle | Bloomberg | Getty ImagesJack Dorsey’s stated plan to move to Africa for up to six months is dividing Square and Twitter analysts.
For Twitter, it comes in an election year in which social media companies will likely face increased scrutiny.
Africa is ‘the future of payments’Some Square analysts see Africa as an untapped and under-served market.
“I can see products like Square’s merchant working capital, and the ability to purchase bitcoin and do fractional investing, having signi
Jack Dorsey’s planned move to Africa divides Square and Twitter investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: kate rooney
Keywords: news, cnbc, companies, investors, likely, companies, africa, dorseys, ellis, planned, square, jack, twitter, dorsey, divides, payments, market, dolev


Jack Dorsey's planned move to Africa divides Square and Twitter investors

Jack Dorsey, co-founder and chief executive officer of Twitter Inc., speaks during an interview in New York, U.S., on Monday, May 1, 2017. Michael Nagle | Bloomberg | Getty Images

Jack Dorsey’s stated plan to move to Africa for up to six months is dividing Square and Twitter analysts. The CEO of both companies said in a tweet last week that he plans to move to the continent for as long as six months. Payment analysts say the opportunity for Square could be tremendous, but they question who will run daily operations. For Twitter, it comes in an election year in which social media companies will likely face increased scrutiny. Dorsey has already been in Africa for the past month, reportedly meeting with crypto entrepreneurs in Nigeria. He did not say which country he plans to live in.

Africa is ‘the future of payments’

Some Square analysts see Africa as an untapped and under-served market. African countries are still heavily cash-based, meaning digital payments and the popular Cash App could make inroads. Square could also bring merchant acceptance through the point of sale systems. Lisa Ellis, partner and senior equity analyst at MoffettNathanson, said an Africa expansion “fits tightly with Square’s mission to empower the individual entrepreneur and drive financial inclusion.”

“I can see products like Square’s merchant working capital, and the ability to purchase bitcoin and do fractional investing, having significant applicability in Africa,” Ellis told CNBC. “Someone still has to ‘mind the store’ at home, though.” The region represents the “future of payments,” according to Macquarie senior payments analyst Dan Dolev. The move could be “very forward thinking” and an opportunity to learn that market in depth, he said. Dolev is also confident that Dorsey can manage both companies remotely. “This could provide them with a strong perspective on Africa, and a first-mover advantage in a market that will likely be very dominant in payments over the next decades,” Dolev said. “I don’t see any issues, only opportunities.” Still, investors will likely question how Dorsey will manage the day-to-day operations of Square while he is traveling. Ellis thinks he would likely need to name an interim president or COO of Square. It’s not clear who is the heir apparent and Square declined to comment on the move beyond Dorsey’s tweet. In the tweet, Dorsey also mentioned bitcoin. The company has leaned into cryptocurrency, launching a dedicated crypto division of Square earlier this year.

Election year


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: kate rooney
Keywords: news, cnbc, companies, investors, likely, companies, africa, dorseys, ellis, planned, square, jack, twitter, dorsey, divides, payments, market, dolev


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Mark Zuckerberg vs. Jack Dorsey is the most interesting battle in Silicon Valley

On Wednesday, Dorsey announced that Twitter would no longer allow political advertising globally. “I think there are good reasons for this,” Zuckerberg said about allowing false political ads to run on Facebook. “These challenges will affect all internet communication, not just political ads,” Dorsey tweeted Wednesday. Both Facebook and Twitter say political advertising only makes up a tiny fraction of their overall advertising revenues. It can only do more good than harm to cut out political ad


On Wednesday, Dorsey announced that Twitter would no longer allow political advertising globally.
“I think there are good reasons for this,” Zuckerberg said about allowing false political ads to run on Facebook.
“These challenges will affect all internet communication, not just political ads,” Dorsey tweeted Wednesday.
Both Facebook and Twitter say political advertising only makes up a tiny fraction of their overall advertising revenues.
It can only do more good than harm to cut out political ad
Mark Zuckerberg vs. Jack Dorsey is the most interesting battle in Silicon Valley Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-31  Authors: steve kovach
Keywords: news, cnbc, companies, silicon, battle, mark, ads, zuckerberg, jack, twitter, valley, political, advertising, interesting, think, facebook, dorsey, facebooks, false


Mark Zuckerberg vs. Jack Dorsey is the most interesting battle in Silicon Valley

It’s hard to think of a better way for Twitter CEO Jack Dorsey to poke Mark Zuckerberg in the eye than announcing a rebuttal to his controversial stance on political advertising just minutes ahead of Facebook’s earnings call.

On Wednesday, Dorsey announced that Twitter would no longer allow political advertising globally. That includes campaign ads from political candidates and issues-based ads on topics like climate change or abortion. The move came just weeks after Facebook said it would not block false political advertising, arguing that it would violate its mission to promote free speech, even paid free speech.

Dorsey’s Machiavellian move didn’t mention Facebook or Zuckerberg by name, but it was clear who he was calling out. And it comes as Dorsey has been ramping up his criticism of Zuckerberg and Facebook. (Just last week, Dorsey said, “Hell no,” when asked if Twitter would join Facebook libra currency project, for example.)

Dorsey couldn’t have been more clear with his announcement Wednesday: If you want to run a massive, open social media platform, you don’t need to accept money to amplify a political message, especially false or misleading messages.

Zuckerberg held firm, despite the flood of discussion Dorsey’s announcement caused just ahead of Facebook’s third-quarter earnings call.

“I think there are good reasons for this,” Zuckerberg said about allowing false political ads to run on Facebook. “I don’t think it’s right for private companies to censor politicians and the news.”

But Dorsey is taking the opposite approach. This problem is far too messy and complex to fix now. Instead, Twitter is over-correcting the problem by nuking political ads from its service until a better solution to keep everything in check presents itself later. People will still be able to post whatever they want on Twitter, but they can’t pay Twitter to target and amplify a potentially misleading political message.

“These challenges will affect all internet communication, not just political ads,” Dorsey tweeted Wednesday. “Best to focus our efforts on the root problems, without the additional burden and complexity taking money brings. Trying to fix both means fixing neither well, and harms our credibility.”

Plus the business impact is minimal. Both Facebook and Twitter say political advertising only makes up a tiny fraction of their overall advertising revenues. (Twitter’s CFO Ned Segal tweeted Wednesday that the company only booked $3 million in political ad revenue during the 2018 U.S. midterm elections, for example.) It can only do more good than harm to cut out political ads today.

For now, Zuckerberg is sticking to his line that it’s not Facebook’s job to police paid political speech. But Dorsey’s announcement was the biggest, most prominent threat to that argument. Twitter wasn’t the first — TikTok also said it would ban political advertising earlier this month — but as the platform that dominates the much of the political and cultural discussion, the decision carries extra weight.

Zuckerberg on Wednesday left open a tiny window that he may change his mind, saying he’ll keep thinking about whether or not to allow political ads.

“Although I’ve considered whether we should not carry these ads in the past and I’ll continue to do so, on balance, so far, I’ve thought we should continue,” Zuckerberg said on the earnings call.

As we’ve seen over and over with Facebook, Zuckerberg’s decision is final, until it isn’t. And it just might turn out that Dorsey will win the hottest debate in Silicon Valley right now.


Company: cnbc, Activity: cnbc, Date: 2019-10-31  Authors: steve kovach
Keywords: news, cnbc, companies, silicon, battle, mark, ads, zuckerberg, jack, twitter, valley, political, advertising, interesting, think, facebook, dorsey, facebooks, false


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Twitter will no longer take political ads: Jack Dorsey tweets

Twitter will no longer take political ads: Jack Dorsey tweetsTwitter CEO Jack Dorsey has tweeted that Twitter will no longer take political ads. CNBC’s Contessa Brewer and the ‘Closing Bell’ team discuss the implications for the company.


Twitter will no longer take political ads: Jack Dorsey tweetsTwitter CEO Jack Dorsey has tweeted that Twitter will no longer take political ads.
CNBC’s Contessa Brewer and the ‘Closing Bell’ team discuss the implications for the company.
Twitter will no longer take political ads: Jack Dorsey tweets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-30
Keywords: news, cnbc, companies, implications, dorsey, team, jack, tweeted, twitter, tweetstwitter, political, tweets, longer, ads


Twitter will no longer take political ads: Jack Dorsey tweets

Twitter will no longer take political ads: Jack Dorsey tweets

Twitter CEO Jack Dorsey has tweeted that Twitter will no longer take political ads. CNBC’s Contessa Brewer and the ‘Closing Bell’ team discuss the implications for the company.


Company: cnbc, Activity: cnbc, Date: 2019-10-30
Keywords: news, cnbc, companies, implications, dorsey, team, jack, tweeted, twitter, tweetstwitter, political, tweets, longer, ads


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Twitter bans political ads after Facebook refused to do so

Twitter is axing political ads from its site, CEO Jack Dorsey announced Wednesday. Earlier this month, Chinese video app TikTok became the first major social media platform to ban political ads from its platform. Without naming Facebook or its CEO Mark Zuckerberg, Dorsey seemed to take a shot at the company’s rhetoric around political ads. In the Georgetown speech, Zuckerberg said Facebook once considered banning political ads as well and that they don’t even make up a significant portion of the


Twitter is axing political ads from its site, CEO Jack Dorsey announced Wednesday.
Earlier this month, Chinese video app TikTok became the first major social media platform to ban political ads from its platform.
Without naming Facebook or its CEO Mark Zuckerberg, Dorsey seemed to take a shot at the company’s rhetoric around political ads.
In the Georgetown speech, Zuckerberg said Facebook once considered banning political ads as well and that they don’t even make up a significant portion of the
Twitter bans political ads after Facebook refused to do so Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: lauren feiner
Keywords: news, cnbc, companies, policy, dorsey, speech, refused, zuckerberg, facebook, twitter, political, reach, bans, ads, decision


Twitter bans political ads after Facebook refused to do so

Twitter is axing political ads from its site, CEO Jack Dorsey announced Wednesday.

Twitter’s stock dropped more than 1% in after hours trading following the announcement.

The move sets Twitter in stark contrast to Facebook, which has received criticism from lawmakers and its own employees in recent weeks over its policy to neither fact check nor remove political ads placed by politicians. Facebook has argued it should not be the one to make decisions about its users’ speech and that politician’s speech is newsworthy. Earlier this month, Chinese video app TikTok became the first major social media platform to ban political ads from its platform.

Dorsey explained the company’s reasoning behind the decision in a series of tweets.

“A political message earns reach when people decide to follow an account or retweet,” Dorsey wrote. “Paying for reach removes that decision, forcing highly optimized and targeted political messages on people. We believe this decision should not be compromised by money.”

Dorsey said it would be “not credible” for Twitter to tell users it’s committed to stopping the spread of misinformation while allowing advertisers to target users with political ads just because they’ve paid Twitter to do so.

Without naming Facebook or its CEO Mark Zuckerberg, Dorsey seemed to take a shot at the company’s rhetoric around political ads. Zuckerberg has recently been discussing the importance of “free expression” in connection to Facebook’s political ad policy, like at a Georgetown University event dedicated to that ideal.

In his final tweet on the topic, Dorsey said pointedly, “This isn’t about free expression. This is about paying for reach. And paying to increase the reach of political speech has significant ramifications that today’s democratic infrastructure may not be prepared to handle. It’s worth stepping back in order to address.”

In the Georgetown speech, Zuckerberg said Facebook once considered banning political ads as well and that they don’t even make up a significant portion of the business. But ultimately, Zuckerberg warned about the difficulty of drawing a line in such a policy and said, “when its not absolutely clear what to do, we should err on the side of greater expression.”

Zuckerberg held firm on his political ads policy on Facebook’s earnings call, which came about an hour after Dorsey’s announcement. Facebook declined to comment, and pointed to Zuckerberg’s prepared remarks from the company’s earnings call.

Twitter CFO Ned Segal tweeted that the company will see no change to its Q4 guidance based on the change. Like at Facebook, political ad spend on Twitter is a relatively small portion of the business, clocking in at less than $3 million in sales during the 2018 U.S. midterm elections, Segal said.

Dorsey addressed the slippery slope theory in his tweets explaining the move, saying Twitter also considered barring only candidate ads, but said issue ads present a way around this. In the end, he said, Twitter decided to ban issue ads as well since the company believed it’s unfair to allow everyone but the candidates themselves to buy ads on topics they care about.

This isn’t the first time Dorsey has taken a jab at Zuckerberg as the entire tech industry continues to receive mounting scrutiny over its privacy and competitive policies. At an event in New York last week, Dorsey said “hell no,” to the question of whether he would join Facebook’s new cryptocurrency association, according to The Verge.

Dorsey’s announcement was quickly praised by several key Democrats. Former Secretary of State Hillary Clinton wrote on Twitter, “This is the right thing to do for democracy in America and all over the world. What say you, @Facebook?”

House Antitrust Subcommittee Chairman David Cicilline, D-R.I., also said it was a “good” step, adding, “Your move, Google/Facebook.” Cicilline is one of the leaders of the bipartisan House inquiries into Facebook, Google, Amazon and Apple.

Rep. Alexandria Ocasio-Cortez, D-N.Y., also applauded Twitter’s new policy. Ocasio-Cortez, who questioned Zuckerberg on political ads at a hearing last week as a member of the House Financial Services Committee, tweeted, “Not allowing for paid disinformation is one of the most basic, ethical decisions a company can make.”

President Donald Trump’s 2020 presidential campaign manager Brad Parscale called Dorsey’s announcement “a very dumb decision” in a statement posted to Twitter. Parscale said it was a move to “silence conservatives,” even though the policy applies to all political parties.

Borrowing from Zuckerberg’s approach, Dorsey made a call for regulation of his industry. But Dorsey’s appeal was for “more forward-looking political ad regulation” that takes into account the unique capabilities of internet advertising.

Twitter will begin enforcing its new policy on Nov. 22, Dorsey said, after it releases its final policy on Nov. 15.

WATCH: How Facebook makes money by targeting ads directly to you


Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: lauren feiner
Keywords: news, cnbc, companies, policy, dorsey, speech, refused, zuckerberg, facebook, twitter, political, reach, bans, ads, decision


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Facebook CEO Mark Zuckerberg defends himself against Twitter’s Jack Dorsey, saying political ad decision is not all about money

Right as Facebook was set to report its third-quarter earnings on Wednesday, Twitter CEO Jack Dorsey announced his company would be banning political advertisements. But Facebook CEO Mark Zuckerberg didn’t take the bait. “I can assure you that from a business perspective, the controversy this creates far outweighs the very small percentage of our business that these political ads make up.” On the call, Zuckerberg said the company estimates ads from politicians will be less than 0.5% of its reven


Right as Facebook was set to report its third-quarter earnings on Wednesday, Twitter CEO Jack Dorsey announced his company would be banning political advertisements.
But Facebook CEO Mark Zuckerberg didn’t take the bait.
“I can assure you that from a business perspective, the controversy this creates far outweighs the very small percentage of our business that these political ads make up.”
On the call, Zuckerberg said the company estimates ads from politicians will be less than 0.5% of its reven
Facebook CEO Mark Zuckerberg defends himself against Twitter’s Jack Dorsey, saying political ad decision is not all about money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: megan graham
Keywords: news, cnbc, companies, twitters, money, dorsey, mark, zuckerberg, jack, facebook, ceo, say, political, saying, run, defends, earnings, ads, company, think


Facebook CEO Mark Zuckerberg defends himself against Twitter's Jack Dorsey, saying political ad decision is not all about money

A monitor displays a “Zuck Buck” as Mark Zuckerberg, chief executive officer and founder of Facebook Inc., testifies during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Oct. 23, 2019.

Right as Facebook was set to report its third-quarter earnings on Wednesday, Twitter CEO Jack Dorsey announced his company would be banning political advertisements.

But Facebook CEO Mark Zuckerberg didn’t take the bait. On the company’s earnings call, he defended Facebook’s decision to allow ads that contain false information.

“Some people accuse us of allowing speech because they think all we care about is making money, and that’s wrong,” Zuckerberg said on the earnings call. “I can assure you that from a business perspective, the controversy this creates far outweighs the very small percentage of our business that these political ads make up.”

Facebook’s approach came under intense scrutiny this month after the company said it would allow Trump’s re-election campaign to run an ad with false claims about former Vice President Joe Biden and his son. The ads policy was a major point of discussion at a congressional hearing last week where Zuckerberg testified.

On the call, Zuckerberg said the company estimates ads from politicians will be less than 0.5% of its revenue next year.

“To put this in perspective, the FTC fine that these same critics said wouldn’t be enough to change our incentives was more than 10x bigger than this,” he said.

Zuckerberg also argued that Google, YouTube, some cable networks and national broadcasters run “these same ads.” Google didn’t immediately respond to a request for comment.

“I think there are good reasons for this,” he said. “I don’t think it’s right for private companies to censor politicians and the news.”

Twitter CEO Jack Dorsey had already anticipated and poked fun at this argument, tweeting, “For instance, it’s not credible for us to say: ‘We’re working hard to stop people from gaming our systems to spread misleading info, buuut if someone pays us to target and force people to see their political ad…well…they can say whatever they want!'”


Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: megan graham
Keywords: news, cnbc, companies, twitters, money, dorsey, mark, zuckerberg, jack, facebook, ceo, say, political, saying, run, defends, earnings, ads, company, think


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Square launches stock trading on its popular Cash App

Payments giant Square is getting into stock trading. The San Francisco-based company will offer users the ability to trade individual stock on its Cash App, for free. Square, run by Twitter CEO Jack Dorsey, will also let customers trade fractions of a stock so investors can buy a portion of more expensive names like Amazon. For example, Dorsey said on Twitter that users can buy $1 worth of a stock like Berkshire Hathaway class A shares, which were trading at more than $315,000 Thursday. The new


Payments giant Square is getting into stock trading.
The San Francisco-based company will offer users the ability to trade individual stock on its Cash App, for free.
Square, run by Twitter CEO Jack Dorsey, will also let customers trade fractions of a stock so investors can buy a portion of more expensive names like Amazon.
For example, Dorsey said on Twitter that users can buy $1 worth of a stock like Berkshire Hathaway class A shares, which were trading at more than $315,000 Thursday.
The new
Square launches stock trading on its popular Cash App Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: kate rooney
Keywords: news, cnbc, companies, launches, cash, app, stock, dorsey, robinhood, popular, buy, trade, users, offer, square, twitter, trading


Square launches stock trading on its popular Cash App

Payments giant Square is getting into stock trading.

The San Francisco-based company will offer users the ability to trade individual stock on its Cash App, for free. Square, run by Twitter CEO Jack Dorsey, will also let customers trade fractions of a stock so investors can buy a portion of more expensive names like Amazon. For example, Dorsey said on Twitter that users can buy $1 worth of a stock like Berkshire Hathaway class A shares, which were trading at more than $315,000 Thursday.

“Really proud of the team for making buying stocks and building wealth accessible to more people,” Dorsey said on Twitter Thursday.

The new offer pegs Square against Robinhood, which has attracted a $7.6 billion valuation and more than 6 million users with a zero-fee stock trading model. Robinhood was followed by a wave of incumbents like Charles Schwab and Fidelity cutting fees to zero in October.


Company: cnbc, Activity: cnbc, Date: 2019-10-24  Authors: kate rooney
Keywords: news, cnbc, companies, launches, cash, app, stock, dorsey, robinhood, popular, buy, trade, users, offer, square, twitter, trading


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Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo

Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo. The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or


Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo. The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or
Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: cory stieg
Keywords: news, cnbc, companies, respondents, jack, asked, ceo, survey, answered, twitter, tech, americans, question, cofounder, identify, dorsey


Only 15% of Americans can identify Twitter CEO Jack Dorsey in a photo

Do you know who this man is?

Despite being CEO of one of the most well-known tech companies in the world and having 4.2 million Twitter followers, only 15% of 4,272 adults who answered a Pew Research Center survey about digital knowledge were able to identify Twitter and Square CEO Jack Dorsey from a photo.

The survey question asked people who the “technology leader” photographed was and presented a few multiple-choice options. The selections included high-profile founders such as Elon Musk, co-founder of Telsa, as well as Google co-founder Sergey Brin and Uber co-founder Travis Kalanick.

A whopping 77% of people said they didn’t know Dorsey, while 7% guessed incorrectly. This question yielded the most amount of “unsure” responses in the entire survey.

When the data were further broken down, 23% of survey respondents who had a bachelor’s degree or higher were able to clock Dorsey in the photo. Age was another factor that influenced their awareness: 20% of those ages 18 to 29 answered correctly, compared to only 7% of people ages 65 and up.

The photo in question was from Dorsey’s April 2019 TED Talk. In it, he’s wearing a black beanie, and has a long beard.

Dorsey was the only tech leader respondents were asked to identify. But those surveyed also lacked knowledge about other prominent social media platforms. Only 29% of Americans knew that messaging app WhatsApp and Instagram are owned by Facebook, for example.

The rest of the survey contained more general questions about internet use. For example, the survey asked people how “private browsing” works, what “net neutrality” means and what two-factor authentication looks like on a web page.

Younger adults (defined as 18 to 29) answered more questions correctly than those in the 65-plus group, suggesting that they might be more internet literate.

These findings are part of a larger Pew Research Center survey called the American Trends Panel.

Don’t miss:


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: cory stieg
Keywords: news, cnbc, companies, respondents, jack, asked, ceo, survey, answered, twitter, tech, americans, question, cofounder, identify, dorsey


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The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Siu Rui Quek had always been entrepreneurial. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell
The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


The lesson from Mark Zuckerberg and Jack Dorsey that inspired these students to build a multimillion start-up

Siu Rui Quek had always been entrepreneurial. As a teen, he would fuel his passion for technology and earn extra cash buying and selling gadgets online. But it was a lesson learned in his early twenties from enterprising icons Mark Zuckerberg and Jack Dorsey that set him on course for the big times. That lesson? Know your mission. Quek is co-founder and CEO of $550 million online consumer marketplace Carousell. He started the business with his college friends Marcus Tan and Lucas Ngoo back in 2012 after they were inspired by talks from the top tech talents during an internship in Silicon Valley. And, even today, he says those presentations played a vital role in shaping Carousell’s success.

I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way. Siu Rui Quek co-founder and CEO, Carousell

“The one thing that we really learned and took away,” Quek told CNBC Make It, “is to be absolutely mission-oriented and mission-first.” “This idea of being mission-first just helps people transcend personal egos (and) helps create collaboration,” he said. To be sure, the founders did not mentor Quek and his friends directly. “I always joke that I have a mentor, which is Mark Zuckerberg, but it’s only one-way — I know him but he doesn’t know me,” Quek said.

Carousell’s co-founders from left to right, Marcus Tan, Siu Rui Quek and Lucas Ngoo. Carousell

But, by watching their presentations and studying their style, Quek said he and his co-founders were inspired to think about the big picture and how they could use technology to solve big issues. “I think the one commonality all of them had was just this whole fascination for using technology to solve problems and make a big impact,” said Quek. For Carousell, that meant building a platform to simplify buying and selling online, which, Quek said, plays into the company’s wider mission to “inspire every person in the world to start selling.”

You’ve just got to love what you do and be obsessed about that problem you’re solving Siu Rui Quek co-founder and CEO, Carousell


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: karen gilchrist
Keywords: news, cnbc, companies, students, mentor, jack, zuckerberg, inspired, multimillion, siu, startup, technology, know, dorsey, mark, lesson, rui, build, big, online, quek


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Kamala Harris asks Twitter CEO Jack Dorsey to consider suspending Trump’s account

Senator Kamala Harris (D-CA) speaks at the Iowa State Fair in Des Moines, Iowa, August 10, 2019. Democratic presidential hopeful Kamala Harris called on Twitter’s CEO on Tuesday to consider suspending President Donald Trump’s account, saying his tweets violate the site’s anti-bullying policy. Harris said Trump’s tweets were an attempt to “target, harass” and “out” the whistleblower. President Trump’s use of technology to communicate directly with the American people and share his Administration’


Senator Kamala Harris (D-CA) speaks at the Iowa State Fair in Des Moines, Iowa, August 10, 2019. Democratic presidential hopeful Kamala Harris called on Twitter’s CEO on Tuesday to consider suspending President Donald Trump’s account, saying his tweets violate the site’s anti-bullying policy. Harris said Trump’s tweets were an attempt to “target, harass” and “out” the whistleblower. President Trump’s use of technology to communicate directly with the American people and share his Administration’
Kamala Harris asks Twitter CEO Jack Dorsey to consider suspending Trump’s account Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: lauren feiner
Keywords: news, cnbc, companies, consider, dorsey, ceo, trump, harris, trumps, kamala, accounts, president, letter, twitter, suspending, tweets, jack, tech, asks


Kamala Harris asks Twitter CEO Jack Dorsey to consider suspending Trump's account

2020 Democratic U.S. presidential candidate and U.S. Senator Kamala Harris (D-CA) speaks at the Iowa State Fair in Des Moines, Iowa, August 10, 2019.

Democratic presidential hopeful Kamala Harris called on Twitter’s CEO on Tuesday to consider suspending President Donald Trump’s account, saying his tweets violate the site’s anti-bullying policy.

In a letter to Twitter’s Jack Dorsey, the senator from California pointed to a series of tweets from the president referring to the whistleblower who filed a complaint about Trump’s July 25 call with the president of Ukraine. Harris said Trump’s tweets were an attempt to “target, harass” and “out” the whistleblower.

Harris also pointed to Trump’s tweet that “a Civil War” could break out if Democrats successfully remove the president from office. She said the tweet suggests “that violence could be incited should Congress issue formal articles of impeachment against him.”

“Time to do something about this,” Harris tweeted to Dorsey. She included Trump’s tweet calling the impeachment inquiry a “COUP.”

Twitter said it plans to respond to the letter.

A White House spokesperson told CNBC in an emailed statement, “It is not surprising that Kamala Harris, someone who believes in bigger government and more regulation, would like to silence her political opponents. In fact, it’s rather authoritarian of her. President Trump’s use of technology to communicate directly with the American people and share his Administration’s unprecedented accomplishments should be praised, not criticized.”

Harris’ letter touches on a longstanding issue for Twitter in how it deals with accounts from world leaders who violate its policies. In June, Twitter announced that it would flag, but not remove, abusive tweets from world leaders. In what amounted to a compromise, Twitter said it would put a disclaimer on such tweets and make it harder for them to spread. Still, Twitter said it would keep the messages on the platform in case they would be in the public interest to access.

In a New York Times op-ed, technology contributor Kara Swisher wrote that Trump has been able to get away with tweets like the “Civil War” one because “the tweet’s message was implicit rather than explicit.”

“The company’s weak response shows how utterly incapable it is in dealing with these thorny issues,” Swisher wrote.

On Wednesday, fellow Democratic presidential candidate Elizabeth Warren, a senator from Massachusetts, took a different stand from Harris. Asked by a reporter if Trump should be banned from Twitter, Warren simply said “no.”

The company has taken an especially cautious approach to monitoring speech as conservative lawmakers have repeatedly accused Twitter and other tech companies of political bias.

Twitter is immune from liability from Trump and others’ tweets due to a law known as Section 230 of the Communications Decency Act. Under the highly contested law, internet platforms are not legally responsible for the speech of their users. Several lawmakers have argued that the law, which originally aided the growth and innovation of nascent tech companies, is no longer appropriate for today’s tech giants.

But Twitter has taken steps to remove accounts of prominent nonworld leaders who have violated its rules. Twitter announced last year, for example, that it would permanently ban right-wing conspiracy theorist Alex Jones and his company, InfoWars, from the platform after claiming the accounts had violated its abusive behavior policy. Harris referenced this ban and the suspension of “[d]isgraced hedge fund manager” Martin Shkreli and actor James Woods for past violations on the platform.

“I believe the President’s recent tweets rise to the level that Twitter should consider suspending his account,” Harris wrote. “Others have had their accounts suspended for less offensive behavior. And when this kind of abuse is being spewed from the most powerful office in the United States, the stakes are too high to do nothing.”

Download Kamala Harris’ letter to Twitter CEO Jack Dorsey or read the full letter below:


Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: lauren feiner
Keywords: news, cnbc, companies, consider, dorsey, ceo, trump, harris, trumps, kamala, accounts, president, letter, twitter, suspending, tweets, jack, tech, asks


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