All work and no play makes Jack a dull boy

All work and no play makes Jack a dull boy. Jack Dorsey’s life — replete with Hollywood mansions and model girlfriends — is hardly dull but heading up two companies is still too much. Now Elliott Management, with a 4 per cent stake, wants to knock the Twitter boss off his perch. Twitter is bigger and needs more attention. Mr Dorsey’s payments venture Square has increased its value 10-fold to more than $36 billion since listing in 2015. Twitter is up only a whisker on its 2013 debut… The trouble with Twitter can easily be encapsulated in less than 240 characters: it is not remotely close to replicating Facebook’s advertising machine… Elliott will hope to find someone other than Mr Dorsey, a man of undoubted entrepreneurial flair, to fix Twitter. Even if Mr Dorsey was to ditch his chief executive role at Square in favour of Twitter, his financial interests would still be out of kilter. His $4 billion stake in Square is almost 10 times greater in value than his Twitter shares — only partially a symptom of Square’s bigger price appreciation. Most entrepreneurs will never have a million dollar idea. Mr Dorsey can boast that he built two game-changing, mega-billion dollar businesses. But he owes it to shareholders of both to pick one to helm. 

Lex.



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