Twitter CEO Jack Dorsey has resigned, will be replaced by CTO Parag Agrawal - The Hustle
The Hustle

Twitter CEO Jack Dorsey has resigned, will be replaced by CTO Parag Agrawal

After 16 years at Twitter, Jack Dorsey -- one of the social platform’s co-founders -- resigns as CEO.

It’s one of the longest-running questions in tech: How does Jack Dorsey have time to be CEO of 2 companies?

For years, Dorsey has been running both Twitter (the $37B social network) and Square (the $98B payments firm).

We won’t have to ask that question anymore

On Monday, Dorsey announced he’s leaving Twitter after 16 years in various roles (including as co-founder). He tweeted out his resignation email, noting 3 reasons why he is ready to move on:

What’s next for Twitter?

Twitter’s stock price is hovering at the same level it was in the summer of 2018. Meanwhile, its competitors (Facebook, Snap) have zoomed ahead.

Agrawal takes over as Twitter tries to unlock new monetization opportunities including tipping, newsletters, a social audio tool (Twitter Spaces), and its first subscription product ever (Twitter Blue).

Per CNBC, Twitter’s goals by end-2023 are aggressive:

Dorsey has more time for Square

The payments platform he founded in 2009 has been very busy this year:

Cryptocurrency may be Dorsey’s long-term ambition. His Twitter bio only says one thing (#Bitcoin), and in June he made this comment regarding Bitcoin: “I don’t think there is anything more important in my lifetime to work on.”

Whatever Dorsey does next, he will always remain on our “Mount Rushmore of Beards”:

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