On the morning of March 6, Beijing time, Us tech blog TechCrunch recently wrote a full-scale rebuttal to Twitter CEO Jack Dorsey’s defense of himself and the company. Read the full text: Twitter CEO Jack Dorsey may not have spent six months in Africa, without claiming that Twitter is behind the scenes developing major products, and without making excuses for Vine to miss short video opportunities.
But he also sent a tweet today via his Twitter investor-relations account defending his leadership and company development in many ways.
Last week it was reported that Elliott Management, a prominent activist investor, was prepared to press Twitter for a series of reforms, possibly including the appointment of a new CEO to replace Mr Dorsey. Sources confirmed to TechCrunch that Elliott already owns between 4 and 5 per cent of Twitter. Elliott has previously forced eBay, AT?T and other big companies to make adjustments and pushed for the CEO to leave.
Specifically, Elliott is looking for change because of Twitter’s weak market performance. As of last month, Twitter’s shares had fallen 6.2 percent since July 2015, while Facebook’s shares were up 121 percent over the same period. Elliott is reportedly most unhappy that Dorsey is running fintech giant Square while serving as Twitter’s CEO and plans to spend six months a year in Africa. Dorsey once tweeted: “Africa will decide the future (especially Bitcoin!). )。 But cryptocurrencies have little to do with Twitter,
The rapid flow of executive steam is also a major pain point. Finally, Twitter is seen as slow to develop products: its core service has barely budged over the past five years, with each tweet grown from 140 to 280 characters long. Rivals such as Facebook and Snapchat have all made important acquisitions and launched important new products such as Marketplace, Stories and Discover.
Dorsey was speaking today at the Morgan Stanley Investors Conference. While there was no direct reference to Elliott’s hostility, the CEO did make an argument that Twitter actually performed better than the outside world had seen. This non-mentioned response is often referred to as subtweet.
On democracy: Twitter has always made healthy dialogue a priority, and now, the most important initiative is the integrity of the dialogue before and after the election, and the company is working it. They are now using human and machine learning techniques to clear up misinformation, and although Facebook introduced the fake news tag feature in late 2016, Twitter has yet to introduce a similar feature.
About revenue: Twitter is expected to complete the rebuilding of its core ad server in the first half of 2020 and will improve the mobile app’s ad-mounted ad experience to attract more advertising revenue. That’s seven years later than Facebook’s push to promote installads.
On cancelling products: Dorsey claims: “Five years ago, we had to make a very difficult reset, which took time … We used to do too much business at the same time…” Is that true? Aside from the disappointing Moments and algorithmic way to sort the flow of information, Twitter has not done much, but has been criticized for its slow product development, mainly because it doesn’t want to disrupt its core users.
On stagnation: “There’s talk of Twitter’s slow pace. One expects to see a noticeable change on the surface, but the most influential change actually takes place at the bottom. Dorsey mentioned the company’s use of machine learning to improve the relevance of information flows and notifications.
He appeared to be referring to Twitter’s sudden announcement yesterday that it was testing a feature similar to Instagram Stories’, Fleets, in Brazil. The feature does not have a launch event, a beta release in the U.S., and there is no indication when it might be available elsewhere. Everything seems to be in a hurry, and acting at such a time seems to be simply to convince investors that it is indeed trying to develop new products.
On talent: Twitter is apparently hiring “senior engineers we might not have been able to recruit three years ago.” Twitter’s share price is only $14 in 2017, compared with $34 today, so it’s not a achievement to make hiring less difficult. “Engineering is my main focus,” Dorsey claims. Everything else comes from this. “However, “Failed Whale” has long been an old yellow calendar, and the core problem now is that Twitter is not rich enough, not that the functionality it provides is not working properly.
On Dorsey himself: Dorsey says he should disclose more background information about “I’m going to be in Africa for a few months this year,” including a growing number of Internet users there. However, he doesn’t seem to be thinking about Twitter’s “huge opportunities,” especially for young people who join Twitter, because his focus is on how encrypted transactions are driving the rapid spread of square Cash Apps.
“I need to re-evaluate” my plan to work in Africa based on the new corona outbreak and all other circumstances. With Twitter now facing Elliott’s aggressive investment, the new crown outbreak has become the best scapegoat for the decision, and the word “all else” is clearly the point.
On harassment: Not mentioned. Dorsey didn’t even mention one of Twitter’s most serious persistent problems. It shows that he is indeed in trouble and struggling to cope.
Running Twitter is a daunting task. It is so big that former CEOs, including co-founder Evan Williams and professional manager Dick Dostolo, have left. So if Dorsey wants to continue as Twitter CEO, he should go to headquarters and devote himself to the job.
This enterprise is not the same as small. Twitter is the world’s most important communication tool. Its lack of innovation, its inability to defend vulnerable users and its inability to provide financial services have had a huge impact on society. That suggests that Twitter’s profits are not enough to help it solve these problems. This shows that it is difficult for a single CEO to reach its full potential.