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Thanks!
Twitter’s Jack Dorsey ‘should be fired’ for being CEO of 2 firms: Big Tech critic Scott Galloway
November 19, 2020
A day after Twitter (TWTR) CEO Jack Dorsey testified before the Senate Judiciary Committee about a foundational internet law alongside Facebook (FB) CEO Mark Zuckerberg, prominent NYU business professor Scott Galloway called for Dorsey’s ouster.
In an interview Wednesday with Yahoo Finance Live, Galloway, who has been critical of Dorsey’s decision to simultaneously serve as CEO of both Twitter payments firm Square (SQ), said the social network should cut Dorsey off from his current role.
“He should be fired,” Galloway said. “I mean this is a big company with thousands of employees that plays a big role in the discourse of society, and about 1 p.m. every day he peaces out and he goes to another firm.”
Galloway isn’t the only one who’s taken shots at Dorsey’s dual roles as CEO. In March, Elliot Management sought to oust Dorsey from Twitter after the social network’s CEO said he planned to move to Africa for 3 to 6 months while continuing to lead both Twitter and Square.
Twitter and Elliot eventually came to an agreement that left Dorsey in place, and gave Elliot and Silver Lake, which also joined in the scrum, seats on Twitter’s board.
Galloway, an investor in Twitter, however, still isn’t satisfied with Dorsey’s divided attention.
“The fact that he's a part-time...renders him totally incapable of providing the attention and leadership that this company needs,” Galloway said. He added that Twitter has failed to innovate and “scarily” looks like it did in 2015, the year Dorsey started his most recent stint as CEO of Twitter.......
https://finance.yahoo.com/news/twitter-jack-dorsey-should-be-fired-scott-galloway-214648586.html
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Square is a financial payments company ("crypto wallet") which deals in cryptocurrencies like Bitcoin - a cryptocurrency enthusiastically backed by Dorsey. Dorsey and Square are currently opposed to Mnuchin's and FinCEN's proposed cryptocurrency rules which would require financial intermediaries to gather personal data like names and physical addresses of parties involved in large digital asset transactions. The prime objective is to discourage money-laundering - similar to the way in which a bank requires customers to fill out paperwork for cash transactions exceeding $10,000.00.
https://www.coindesk.com/squares-jack-dorsey-hits-out-at-fincens-burdensome-proposed-crypto-wallet-rules
Could it be that Dorsey may have had even more of a vested interest in the ultimate outcome of this election than anyone thought? Additionally, could it be that his "censoring" mania is not just about blaming and "punishing" Trump and his supporters for the events of last week but also about protecting his little "crypto-wallet" enterprise against the prying eyes of the Federal Government?