Twitter CEO Jack Dorsey’s comments about San Francisco are a warning sign for the city’s tech scene

San Francisco, while always posing a unique set of challenges, has become an unmanageable place for many companies as they look to expand. Dadgar moved to Connecticut last year from the Bay Area because his husband got a job at Yale. Co-founder and CEO Sid Sijbrandij lives in San Francisco, but GitLab has no offices for its 1,100 employees in more than 65 countries. “You have access to a way broader talent pool if not everyone has to show up to a specific building in San Francisco,” said Sijbran


San Francisco, while always posing a unique set of challenges, has become an unmanageable place for many companies as they look to expand.
Dadgar moved to Connecticut last year from the Bay Area because his husband got a job at Yale.
Co-founder and CEO Sid Sijbrandij lives in San Francisco, but GitLab has no offices for its 1,100 employees in more than 65 countries.
“You have access to a way broader talent pool if not everyone has to show up to a specific building in San Francisco,” said Sijbran
Twitter CEO Jack Dorsey’s comments about San Francisco are a warning sign for the city’s tech scene Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: ari levy
Keywords: news, cnbc, companies, francisco, area, san, bay, gitlab, remote, tech, warning, company, dorseys, hashicorp, scene, sign, twitter, comments, jack, employees, work


Twitter CEO Jack Dorsey's comments about San Francisco are a warning sign for the city's tech scene

Jack Dorsey attends the cocktail party hosted by Chrome Hearts X Jordan Barrett at La Maison Du Caviar in Paris, France. Victor Boyko | Getty Images Entertainment | Getty Images

When Twitter CEO Jack Dorsey told investors this week that he’s planning for a future with a more distributed workforce, his Bay Area peers could easily relate. “Our concentration in San Francisco is not serving us any longer, and we will strive to be a far more distributed workforce, which we will use to improve our execution,” Dorsey said on Twitter’s fourth-quarter earnings call on Thursday, adding that he expects to spend time traveling this year. San Francisco, while always posing a unique set of challenges, has become an unmanageable place for many companies as they look to expand. It commands the highest salaries of any U.S. city and has some of the most expensive real estate, both commercial and residential. Meanwhile, there are hundreds of nearby companies, including the most valuable in the world, ready to poach your top developers and sales reps. The tech talent in the Bay Area is undeniable. But with cloud infrastructure, faster internet speeds in more remote areas and a new generation of communications and collaboration tools, more companies are finding it advantageous to hire elsewhere. Online lender LendingClub slashed its San Francisco workforce last year and moved jobs to Utah, and Stripe announced in May that it was hiring over 100 remote engineers in 2019. Even Facebook CEO Mark Zuckerberg is having second thoughts, recently telling an audience in Utah that if he were starting a company today, he wouldn’t do it in the Bay Area.

‘The Bay Area is a bloodbath’

“The Bay Area is a bloodbath when it comes to talent,” said Armon Dadgar, co-founder of HashiCorp, a cloud data center company that’s based in San Francisco but has 85% of its employees in other locations. “It’s very competitive, very hard to retain people and the compensation packages are all out of whack.” Dadgar moved to Connecticut last year from the Bay Area because his husband got a job at Yale. His co-founder, Mitchell Hashimoto, lives in Los Angeles. CEO David McJanet is based in San Franciso. HashiCorp describes itself as “remote first and fully distributed.” Its 900 employees are scattered across the U.S. and about a dozen other countries, working from home, local coffee shops or at desks in co-working locations. Similarly, open-source software developer GitLab calls itself a “remote-only company.” Co-founder and CEO Sid Sijbrandij lives in San Francisco, but GitLab has no offices for its 1,100 employees in more than 65 countries. Sijbrandij says the company shaves off 10% of operating expenses by not renting physical space and another 40% because it focuses on hiring outside of the most expensive areas in the world. Badger estimates HashiCorp saves $10,000 to $15,000 a year per employee by steering mostly clear of real estate.

“You have access to a way broader talent pool if not everyone has to show up to a specific building in San Francisco,” said Sijbrandij. “A lot of people who work for GitLab get paid well — at or above the market rate in their area. And they get to intersperse work with activities,” whether it’s going to the gym or supermarket or picking up their kids, he said. HashiCorp and GitLab were both founded in 2012, a few years after San Francisco’s tech scene ballooned from the rapid growth of Twitter, Square (Dorsey’s other company), Uber, Dropbox, Airbnb and Stripe. Prior to that era of sizzling tech start-ups, almost all of the notable tech companies except Salesforce were located to the south in Silicon Valley, where they could occupy large campuses in quieter cities and suburbs.

Big tax break to stay in SF

Twitter, founded in 2006, was planning to move south of San Francisco and only stayed in the city because of a 2011 tax break that was carved out for the company, and then expanded to others, as part of a plan to redevelop a rundown area of town called mid-Market. That’s where Twitter opened its current headquarters in 2012. The neighborhood hasn’t improved much despite the booming tech market. Homelessness and drug use remain rampant. Meanwhile, Twitter has grown from about 1,100 to about 4,000 people and housing costs in the city have skyrocketed. The average rent for a two-bedroom apartment in San Francisco has jumped 73% since early 2011 to more than $4,500, according to Rent Jungle. And it’s become the highest-paying city in the world for salaries, Deutsche Bank said last year. Dorsey said he hasn’t made concrete plans for what the expansion will look like, but he sounds like a guy who’s open to the HashiCorp and GitLab approach, especially after tweeting in November that he’s moving to Africa. “I do think that we need to figure out how to build a company that is distributed, that is not burdened by time zones, but is advantaged by them,” he said on Twitter’s earnings call with analysts. “And I think, it’ll give us a lot more perspective into markets that continue to emerge and are growing extremely quickly, and to the point where even our peers are looking very, very deeply within those markets and within those continents.” Brandon Borman, Twitter’s vice president of communications, echoed that sentiment, tweeting that, “We remain committed to SF, but hiring global talent shouldn’t require them to uproot their lives, leave their communities, and move to where we have an office.” Dorsey’s other company, payments processor Square, hasn’t made any similar announcements, even though it has almost as many employees as Twitter and is located less than a block away. Square has a large satellite office in St. Louis and is opening a facility in Oakland, across the Bay from San Francisco, this year for up to 2,000 employees. A Square spokesperson declined to provide further comment.

How remote work can work

Advances in technology over the last couple of decades mean the remote model can work, thanks to cloud-based tools like Zoom for video, Slack for messaging and Google Docs for document sharing. HashiCorp and GitLab executives have put in place additional processes for asynchronous work, so employees on opposite sides of the globe can communicate and collaborate. They also have annual events for which they fly the whole company to a particular spot — HashiCorp’s event is coming up in Atlanta — and team members are encouraged to meet up with a little more frequency. Some of the savings they realize from office costs and salaries are redirected towards higher travel budgets. To keep new employees in the mix and up to speed, GitLab last year hired Darren Murph as the head of remote. Murph works out of his home, in a North Carolina town of 300 people, and handles tasks like onboarding and inclusivity.

GitLab CEO Sid Sijbrandij at company event in London GitLab


Company: cnbc, Activity: cnbc, Date: 2020-02-08  Authors: ari levy
Keywords: news, cnbc, companies, francisco, area, san, bay, gitlab, remote, tech, warning, company, dorseys, hashicorp, scene, sign, twitter, comments, jack, employees, work


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Jack Dorsey asked Elon Musk how he would run Twitter–here’s what Musk said

When you have Elon Musk on the line, you ask him for business advice — even if you’re Jack Dorsey. Dorsey asked Musk in the video, which was tweeted Thursday. Dorsey even joked with Musk, “By the way, do you want to run Twitter?” “Some way to differentiate between, this is a real person and this is someone just trying to manipulate the system. I like how @elonmusk uses Twitter,” Dorsey tweeted.


When you have Elon Musk on the line, you ask him for business advice — even if you’re Jack Dorsey.
Dorsey asked Musk in the video, which was tweeted Thursday.
Dorsey even joked with Musk, “By the way, do you want to run Twitter?”
“Some way to differentiate between, this is a real person and this is someone just trying to manipulate the system.
I like how @elonmusk uses Twitter,” Dorsey tweeted.
Jack Dorsey asked Elon Musk how he would run Twitter–here’s what Musk said Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: taylor locke
Keywords: news, cnbc, companies, asked, musk, twitter, tweeted, person, tesla, run, trying, twitterheres, whats, jack, real, elon, system, dorsey


Jack Dorsey asked Elon Musk how he would run Twitter–here's what Musk said

When you have Elon Musk on the line, you ask him for business advice — even if you’re Jack Dorsey.

In an undated video of what appears to be a Twitter company event, CEO Dorsey asks Tesla and SpaceX CEO Musk over video chat: “Give us some direct feedback, critique.”

“What are we doing horribly? What could we be doing better? What’s your hope for [Twitter’s] potential as a service?” Dorsey asked Musk in the video, which was tweeted Thursday.

“If you were running Twitter, what would you do?”

Dorsey even joked with Musk, “By the way, do you want to run Twitter?”

Musk told Dorsey and the audience that Twitter could do better at distinguishing bots from real people, something the company has invested in.

“I think it would be helpful to differentiate between real and you know, not just like a verified person, but is this a real person, or is this a bot net or a sort of troll army or something like that? Basically, how do you tell if the feedback is real or someone trying to manipulate the system? Or probably real or probably trying to manipulate the system,” Musk said.

“Some way to differentiate between, this is a real person and this is someone just trying to manipulate the system. I see people trying to sway public opinion, and sometimes it can be difficult to figure out what’s real public opinion and what’s not,” he said.

“What are people actually upset about versus manipulation of the system by various interest groups? And there are many such groups.”

Along with his feedback on Twitter operations, Musk also told Dorsey he believes the first human to send a tweet from Mars will happen “five years from now… probably not more than nine years from now.”

(Musk has said he’ll get humans to Mars by 2024. In a March tweet, he revealed plans to send manned SpaceX rockets to the planet, creating a fully “self-sustaining city” on Mars by 2050.)

Musk, who joined Twitter in June 2009, has over 30 million followers and is extremely active on the platform, often using it to communicate with Tesla customers.

But Twitter has also gotten Musk in trouble.

Most recently, in December, Musk won a defamation case brought by Vernon Unsworth, the British cave explorer whom Musk called “pedo guy” on Twitter in 2018.

And in October 2018, Musk agreed to relinquish his role as chairman at Tesla and pay a hefty fine as part of a settlement with the Securities and Exchange Commission over an August 2018 tweet. Musk tweeted that he had secured enough funding to take Tesla private, and the SEC alleged Musk’s statements were “false and misleading” and that he didn’t properly notify regulators, CNBC reported.

In February, the SEC accused Musk of violating the agreement when he tweeted about Tesla production numbers, however the sides agreed to resolve the situation by amending the original settlement for clarity.

Dorsey, however, has complimented Musk’s use of Twitter.

When journalist Kara Swisher interviewed Dorsey over Twitter in February, she asked him to name the “most exciting” and “influential” person on the platform.

“To me personally? I like how @elonmusk uses Twitter,” Dorsey tweeted. “He’s focused on solving existential problems and sharing his thinking openly. I respect that a lot, and all the ups and downs that come with it.”

To that, Musk replied, “Thanks Jack, Twitter rocks!”

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Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: taylor locke
Keywords: news, cnbc, companies, asked, musk, twitter, tweeted, person, tesla, run, trying, twitterheres, whats, jack, real, elon, system, dorsey


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Twitter CEO Jack Dorsey: ‘I eat seven meals every week, just dinner’

When Twitter and Square CEO and co-founder Jack Dorsey shared his rigorous “wellness” routine on a podcast in March, his habit of eating one meal a day, and sometimes going all weekend without eating, raised eyebrows. These days, Dorsey eats “seven meals every week, just dinner,” he told Wired in an interview posted on YouTube, which likely means Dorsey is no longer skipping food on weekends. Dorsey also told Wired he tries to meditate for two hours every single day. However Dorsey clarified to


When Twitter and Square CEO and co-founder Jack Dorsey shared his rigorous “wellness” routine on a podcast in March, his habit of eating one meal a day, and sometimes going all weekend without eating, raised eyebrows.
These days, Dorsey eats “seven meals every week, just dinner,” he told Wired in an interview posted on YouTube, which likely means Dorsey is no longer skipping food on weekends.
Dorsey also told Wired he tries to meditate for two hours every single day.
However Dorsey clarified to
Twitter CEO Jack Dorsey: ‘I eat seven meals every week, just dinner’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: cory stieg
Keywords: news, cnbc, companies, hours, steve, seven, fasting, meals, twitter, dorsey, jack, ceo, wired, according, cofounder, dinner, week, eating, told, eat


Twitter CEO Jack Dorsey: 'I eat seven meals every week, just dinner'

When Twitter and Square CEO and co-founder Jack Dorsey shared his rigorous “wellness” routine on a podcast in March, his habit of eating one meal a day, and sometimes going all weekend without eating, raised eyebrows.

At the time, he told podcast host Ben Greenfield that so-called intermittent fasting helps him focus and “has been a new dimension.”

On Tuesday, there was an update to his controversial fasting habits.

These days, Dorsey eats “seven meals every week, just dinner,” he told Wired in an interview posted on YouTube, which likely means Dorsey is no longer skipping food on weekends.

According to his previous comments, dinner for Dorsey is “a really big meal” that consists of protein like fish, chicken or steak, and “a lot of greens,” including arugula or spinach salad, asparagus or Brussels sprouts. “And then, I have mixed berries as a dessert, maybe some dark chocolate,” he said in March. (A moderately active man in their early 40s requires an estimated 2,600 calories a day, according to the Dietary Guidelines for Americans.)

Though intermittent fasting — in which you eat for a set window of six to eight hours and fast for the remainder — has become trendy in Silicon valley and among celebrities like Terry Crews and Jennifer Aniston, there hasn’t been enough research on humans to determine whether it’s sustainable or healthy long term. And experts agree that fasts lasting longer than 12 hours can be dangerous, especially for individuals who have specific health conditions or take certain medications, according to the National Institutes of Health.

Dorsey also told Wired he tries to meditate for two hours every single day.

Dorsey practices an ancient form of meditation called “vipassana,” which is “extremely painful and demanding physical and mental work,” he said in 2018.

Vipassana requires that people sit cross-legged for 30 to 45 minutes without moving. “[I]nstead of unconsciously reacting to feelings of pain or pleasure, consciously observe that all pain and pleasure aren’t permanent, and will ultimately pass and dissolve away,” Dorsey previously tweeted.

In the past, Dorsey has also talked about alternating 15-minute saunas and three-minute ice baths for an hour, telling Greenfield that the habit “has had probably the largest impact just in terms of how I feel but also mental clarity.” (Some studies suggest that using a sauna regularly may improve your mood. But more research needs to be done on the effects of switching between extreme cold and heat.)

However Dorsey clarified to Wired: “I definitely do not do a sauna and ice bath every day.”

Dorsey isn’t the only tech billionaire to have eccentric eating habits. Apple co-founder Steve Jobs used to fast for periods of time, and would only eat fruit, nuts, seeds and grains, according to Walter Isaacson’s biography, “Steve Jobs.” And Microsoft co-founder Bill Gates would eat powdered Tang packets in the early days of the company, because he didn’t want to take time away from working to eat.

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Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: cory stieg
Keywords: news, cnbc, companies, hours, steve, seven, fasting, meals, twitter, dorsey, jack, ceo, wired, according, cofounder, dinner, week, eating, told, eat


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Why Jack Dorsey and other major tech figures are suddenly interested in Africa

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. Jack Dorsey is in good company when it comes to Africa. Africa has a young and booming population, which Schneidman said makes it a “natural market for any tech entrepreneur.” Africa also has the largest population of underbanked and unbanked people in the world, making it appealing for companies in financial tech and payments. “Africa sim


Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Jack Dorsey is in good company when it comes to Africa.
Africa has a young and booming population, which Schneidman said makes it a “natural market for any tech entrepreneur.”
Africa also has the largest population of underbanked and unbanked people in the world, making it appealing for companies in financial tech and payments.
“Africa sim
Why Jack Dorsey and other major tech figures are suddenly interested in Africa Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-30  Authors: kate rooney
Keywords: news, cnbc, companies, major, africa, suddenly, interested, growth, population, tech, technology, capital, twitter, breyer, figures, dorsey, jack, seeing


Why Jack Dorsey and other major tech figures are suddenly interested in Africa

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.

Jack Dorsey is in good company when it comes to Africa.

The CEO of Twitter and Square announced last month that he would spend up to six months in the continent next year, with few specifics. But he’s one of dozens of U.S. CEOs and global venture capital investors seeing potential for technology disruption — and returns — throughout the continent.

“We’re seeing a lot of the investment opportunity and growth happening in the tech sector,” said Witney Schneidman, a Brookings fellow with the Africa Growth Initiative and former deputy secretary of state Clinton administration.

“Jack Dorsey is in the right place at the right time and investing the appropriate amount of time to begin to understand the complexity of the African market.”

Africa has a young and booming population, which Schneidman said makes it a “natural market for any tech entrepreneur.” The 54 countries in Africa have a combined population of 1.3 billion people with an average age of 19, and more than half of global population growth over the next 30 years will happen there, according to a recent UN report. Africa also has the largest population of underbanked and unbanked people in the world, making it appealing for companies in financial tech and payments.

Jim Breyer, an early Facebook investor and partner at Accel Partners, likened the investment opportunity to China in the early 2000s. Breyer, who’s now the founder of Breyer Capital and Co-Chairman of IDG Capital based in Beijing, said promising businesses in Africa haven’t necessarily invented something new — they’re finding “novel ways to leverage technology.”

“Africa similarly presents some fundamental leapfrog opportunities that have been unlocked through the use of mobile phones and other technology platforms,” said Breyer. “We’re seeing some of the smartest individuals from top academic institutions in the U.S. and elsewhere return to the African continent, thereby contributing to a growing talent pool of entrepreneurs and developers.”


Company: cnbc, Activity: cnbc, Date: 2019-12-30  Authors: kate rooney
Keywords: news, cnbc, companies, major, africa, suddenly, interested, growth, population, tech, technology, capital, twitter, breyer, figures, dorsey, jack, seeing


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Investors should brace for stocks to drop at least 15% in early 2020, money manager Jack Ablin says

A top money manager is on pullback watch as stocks head deeper into record territory. Cresset Capital’s Jack Ablin is telling investors to brace for stocks to drop at least 15% in early 2020. Ablin suggests the driver for a market setback is unclear. “I can’t see a specific catalyst unless it’s higher interest rates that would precipitate a decline,” he said. “From a valuation perspective, it’s hard to see that we’re going to see more P/E expansion without interest rates coming down,” he said.


A top money manager is on pullback watch as stocks head deeper into record territory.
Cresset Capital’s Jack Ablin is telling investors to brace for stocks to drop at least 15% in early 2020.
Ablin suggests the driver for a market setback is unclear.
“I can’t see a specific catalyst unless it’s higher interest rates that would precipitate a decline,” he said.
“From a valuation perspective, it’s hard to see that we’re going to see more P/E expansion without interest rates coming down,” he said.
Investors should brace for stocks to drop at least 15% in early 2020, money manager Jack Ablin says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: stephanie landsman
Keywords: news, cnbc, companies, early, drop, record, valuation, setback, manager, market, pullback, interest, stocks, rates, 2020, money, ablin, brace, jack, investors


Investors should brace for stocks to drop at least 15% in early 2020, money manager Jack Ablin says

A top money manager is on pullback watch as stocks head deeper into record territory.

Cresset Capital’s Jack Ablin is telling investors to brace for stocks to drop at least 15% in early 2020.

“Valuations are pretty stretched,” the firm’s chief investment officer told CNBC’s “Trading Nation” on Thursday. “We had [a] 30% move this year on 3% earnings growth.”

His newest sell-off call came after the tech-heavy Nasdaq crossed the 9,000 mark for the first time ever, and the S&P 500 rallied to a record high.

Ablin suggests the driver for a market setback is unclear.

“I can’t see a specific catalyst unless it’s higher interest rates that would precipitate a decline,” he said.

Regardless, he has been limiting his exposure to stocks.

Ablin, who has $6.7 billion in assets under management, shifted 30% of the firm’s assets to private equity and cash last August because he believed equities were getting too expensive. Since then, he hasn’t been putting new money to work. But he hasn’t been selling stocks either.

“From a valuation perspective, it’s hard to see that we’re going to see more P/E expansion without interest rates coming down,” he said.

Despite his market warning, Ablin isn’t completely abandoning his bullish views. He plans to use the next pullback as a reset that’ll help him capitalize on future returns.

“I hold equities for seven years as a minimum. So, that would be my entry point,” added Ablin.

His most bullish 2020 scenario is the market recovering from an early setback with some modest gains.

“2020 is probably a payback. We go back to fair value,” Ablin said. “Best case for 2020, mid single digits as the market tends to follow earnings without much valuation expansion.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-27  Authors: stephanie landsman
Keywords: news, cnbc, companies, early, drop, record, valuation, setback, manager, market, pullback, interest, stocks, rates, 2020, money, ablin, brace, jack, investors


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Former Treasury Secretary Jack Lew endorses Joe Biden for president

Former Vice President Joe Biden notched another endorsement Monday from an Obama administration Cabinet official. Former Treasury Secretary Jack Lew backed Biden, one of the top contenders for the 2020 Democratic presidential nomination. Lew was Treasury secretary during President Barack Obama’s second term. “Candidly, he has the experience and the ability to make Donald Trump a one-term president,” Lew, who is now a partner at private equity firm Lindsay Goldberg, said of Biden on CNBC’s “Closi


Former Vice President Joe Biden notched another endorsement Monday from an Obama administration Cabinet official.
Former Treasury Secretary Jack Lew backed Biden, one of the top contenders for the 2020 Democratic presidential nomination.
Lew was Treasury secretary during President Barack Obama’s second term.
“Candidly, he has the experience and the ability to make Donald Trump a one-term president,” Lew, who is now a partner at private equity firm Lindsay Goldberg, said of Biden on CNBC’s “Closi
Former Treasury Secretary Jack Lew endorses Joe Biden for president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: jacob pramuk
Keywords: news, cnbc, companies, treasury, president, jack, joe, cabinet, lew, endorses, obamas, far, presidential, secretary, endorsement, biden


Former Treasury Secretary Jack Lew endorses Joe Biden for president

Former Vice President Joe Biden notched another endorsement Monday from an Obama administration Cabinet official.

Former Treasury Secretary Jack Lew backed Biden, one of the top contenders for the 2020 Democratic presidential nomination. Lew was Treasury secretary during President Barack Obama’s second term.

“Candidly, he has the experience and the ability to make Donald Trump a one-term president,” Lew, who is now a partner at private equity firm Lindsay Goldberg, said of Biden on CNBC’s “Closing Bell.”

Most members of Obama’s Cabinet have so far withheld endorsements as some presidential hopefuls, particularly Biden, tie themselves closely to the former president. Earlier this month, Biden got the most high-profile endorsement from Obama’s Cabinet so far in John Kerry, a former secretary of State and the 2004 Democratic presidential nominee.

Obama has not yet endorsed a primary candidate.


Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: jacob pramuk
Keywords: news, cnbc, companies, treasury, president, jack, joe, cabinet, lew, endorses, obamas, far, presidential, secretary, endorsement, biden


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Twitter CEO Jack Dorsey has an idealistic vision for the future of social media and is funding a small team to chase it

CEO of Twitter, Jack Patrick Dorsey, speaks during an exclusive interview with Hindustan Times at Twitter India office, at the Crescent, on November 14, 2018 in New Delhi, India. Twitter CEO Jack Dorsey announced Tuesday the company is funding a new research team that will develop an “open and decentralized standard for social media,” in part to address some of the current problems with the platform. The idealistic long-term vision is to make disparate social media networks more like email, so t


CEO of Twitter, Jack Patrick Dorsey, speaks during an exclusive interview with Hindustan Times at Twitter India office, at the Crescent, on November 14, 2018 in New Delhi, India.
Twitter CEO Jack Dorsey announced Tuesday the company is funding a new research team that will develop an “open and decentralized standard for social media,” in part to address some of the current problems with the platform.
The idealistic long-term vision is to make disparate social media networks more like email, so t
Twitter CEO Jack Dorsey has an idealistic vision for the future of social media and is funding a small team to chase it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: annie palmer
Keywords: news, cnbc, companies, jack, future, decentralized, traction, projects, users, networks, social, dorsey, standard, vision, idealistic, twitter, media, funding, team, small


Twitter CEO Jack Dorsey has an idealistic vision for the future of social media and is funding a small team to chase it

CEO of Twitter, Jack Patrick Dorsey, speaks during an exclusive interview with Hindustan Times at Twitter India office, at the Crescent, on November 14, 2018 in New Delhi, India.

Twitter CEO Jack Dorsey announced Tuesday the company is funding a new research team that will develop an “open and decentralized standard for social media,” in part to address some of the current problems with the platform.

The idealistic long-term vision is to make disparate social media networks more like email, so that users could join different networks but still communicate with each other no matter which one they’re using.

Shared technical standards would also make it easier for users to gain some control over how these networks recommend content, which could reduce the tendency to guide users to the most outrageous material and users in hopes of keeping them engaged, according to Dorsey. It could also make it easier for the social networks to enforce restrictions against hate speech and other abuse, essentially helping them share the load at a lower cost.

There are already social media platforms that operate on a decentralized framework, the most popular of which is Mastodon, an open-source social network that’s often used as an alternative to Twitter. Tim Berners-Lee, the founder of the World Wide Web, has also launched several projects advocating for a decentralized internet.

But unlike these projects, which have struggled to gain traction, Twitter already has a devoted user base of more than 300 million people, which could give Dorsey more traction in trying to push the standard through and convince other social networks to lend support.

It seems unlikely, however, that Facebook, which currently dominates the space with an audience of more than 2 billion users, would be willing to cede control to an external coalition. A Facebook spokesperson did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: annie palmer
Keywords: news, cnbc, companies, jack, future, decentralized, traction, projects, users, networks, social, dorsey, standard, vision, idealistic, twitter, media, funding, team, small


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Former Twitter CEO on Jack Dorsey’s tenure and move to Africa

Former Twitter CEO on Jack Dorsey’s tenure and move to AfricaTwitter CEO Jack Dorsey has said he plans to move to Africa. Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain join ‘Fast Money Halftime Report’ to discuss Dorsey’s tenure so far.


Former Twitter CEO on Jack Dorsey’s tenure and move to AfricaTwitter CEO Jack Dorsey has said he plans to move to Africa.
Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain join ‘Fast Money Halftime Report’ to discuss Dorsey’s tenure so far.
Former Twitter CEO on Jack Dorsey’s tenure and move to Africa Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10
Keywords: news, cnbc, companies, halftime, dorseys, jack, join, report, tenure, ceo, plans, money, africa, twitter


Former Twitter CEO on Jack Dorsey's tenure and move to Africa

Former Twitter CEO on Jack Dorsey’s tenure and move to Africa

Twitter CEO Jack Dorsey has said he plans to move to Africa. Former Twitter CEO Dick Costolo and former Twitter COO Adam Bain join ‘Fast Money Halftime Report’ to discuss Dorsey’s tenure so far.


Company: cnbc, Activity: cnbc, Date: 2019-12-10
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Jack Nicklaus’ gold Rolex watch sells for $1 million at auction

Golf legend Jack Nicklaus’s gold Rolex sold at auction Tuesday evening for $1 million, equating to $1.22 million with the buyer’s premium. It adorned Nicklaus’ wrist as he hoisted trophies, appearing in countless photos. Rolex gave Nicklaus the 18-karat-gold Rolex 1803 Day-Date as a gift in 1967. While sports stars and celebrities often sell watches at auction, it’s rare for a watch to be worn for so long – and during the biggest moments of such a storied career. Gold Day-Dates from the same tim


Golf legend Jack Nicklaus’s gold Rolex sold at auction Tuesday evening for $1 million, equating to $1.22 million with the buyer’s premium.
It adorned Nicklaus’ wrist as he hoisted trophies, appearing in countless photos.
Rolex gave Nicklaus the 18-karat-gold Rolex 1803 Day-Date as a gift in 1967.
While sports stars and celebrities often sell watches at auction, it’s rare for a watch to be worn for so long – and during the biggest moments of such a storied career.
Gold Day-Dates from the same tim
Jack Nicklaus’ gold Rolex watch sells for $1 million at auction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: robert frank
Keywords: news, cnbc, companies, watches, wrist, sell, nicklaus, jack, auction, watch, million, rolex, sold, sells, gold


Jack Nicklaus' gold Rolex watch sells for $1 million at auction

Golf legend Jack Nicklaus’s gold Rolex sold at auction Tuesday evening for $1 million, equating to $1.22 million with the buyer’s premium.

The Golden Bear’s Rolex, which he wore for over 50 years and during 12 of his majors, sold Tuesday night at an auction held by Phillips in association with Bacs & Russo. The watch attained mythical status in the golfing and watch world. It adorned Nicklaus’ wrist as he hoisted trophies, appearing in countless photos. It is widely considered one of the three most important watches ever in sports.

Rolex gave Nicklaus the 18-karat-gold Rolex 1803 Day-Date as a gift in 1967. While sports stars and celebrities often sell watches at auction, it’s rare for a watch to be worn for so long – and during the biggest moments of such a storied career. Gold Day-Dates from the same time period, in a similar condition, would typically sell for $10,000 to $12,000.


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: robert frank
Keywords: news, cnbc, companies, watches, wrist, sell, nicklaus, jack, auction, watch, million, rolex, sold, sells, gold


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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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