Jack Dorsey is well-known as an American tech entrepreneur and philanthropist who has laid the groundwork for several pioneering ventures. He co-founded Twitter and served as its first CEO, transforming global communication. Additionally, he co-founded Block Inc., formerly known as Square, which is a financial services company. His work includes innovative projects in social media; for instance, he has emphasized the importance of creating censorship-resistant spaces and advocated for decentralized social media. He has also promoted Nostr, a protocol to decentralize social media interactions.
Jack Patrick Dorsey was born into a working-class Catholic family on November 19, 1976. He was raised by his father, Tim, a mass spectrometer manufacturer, and his mother, Marcia, a homemaker who used to own a café. Dorsey attended Bishop DuBourg High School in St. Louis, where he also worked part-time as a fashion model.
In 1995, he enrolled at the University of Missouri-Rolla (now known as Missouri University of Science and Technology). During his time there, he hacked into the network of Dispatch Management Services, alerting the company to a software flaw. This led to a job offer from chairman Greg Kidd. Dorsey later moved to New York City and transferred to New York University (NYU) after receiving encouragement from his parents.
By 14, he was already programming dispatch software for taxi companies. At NYU, he came up with the idea for Twitter, which motivated him to drop out of college one semester before graduating in pursuit of his entrepreneurial ambitions.
Growing up being an introvert and facing speech impairment, Dorsey spent much of his youth playing computer games and listening to a police scanner, which eventually inspired the concept of Twitter's short communication bursts. Despite his unconventional journey, Dorsey’s logical and creative approach to technology distinguished his career, ultimately leading to his success with Twitter and other ventures.
Jack Dorsey started his career as a programmer and moved to Oakland in 2000 to pursue his dream of creating a company for dispatching taxis, couriers, and emergency services. He also developed the idea for a short-message communication service during this time. After his company failed, Dorsey freelanced and attended massage therapy courses but remained focused on his vision.
In 2006, Dorsey connected with Odeo’s Evan Williams and Biz Stone, leading to the creation of Twitter under Obvious Corporation. Within two weeks, Dorsey developed a platform for 140-character posts, later called "tweets." Dorsey served as Twitter’s CEO until 2008, when Williams took over. In 2009, Dorsey co-founded Square, a mobile payments company that expanded into financial services. He serves as CEO, and the company has experienced rapid growth.
Business Intervention in AI:
Dorsey has consistently advocated for the integration of AI across his ventures. He believes that AI is pivotal for enhancing productivity and innovation within Block, allowing the company to maintain a competitive edge.
Commitment to AI: During Block Inc.’s Q4 earnings call, CEO Jack Dorsey emphasized AI’s vital role in enhancing company operations. He noted that AI boosts productivity, enabling faster product shipping, quicker error correction, and maintaining a creative edge. Dorsey highlighted AI's potential to significantly streamline efficiency and reinforce Block's competitive standing in system integration.
AI hiring: Mercor, an AI-driven hiring platform, secured $30 million in a funding round backed by Jack Dorsey and Peter Thiel, bringing its valuation to $250 million. The platform aids recruiters in hiring talent from leading tech firms and has expanded its candidate pool to over 300,000 individuals.
AI Acquisition: In 2016 Twitter acquired London-based AI startup Magic Pony Technology for approximately $150 million. The acquisition aimed to enhance Twitter’s image, video, and live streaming capabilities using Magic Pony’s machine-learning expertise in visual processing. This move bolstered Twitter's technological edge in delivering enriched visual content.
Twitter and Fabula AI: Twitter acquired London-based Fabula AI to enhance its machine learning capabilities, particularly in graph deep learning. Fabula’s technology detects network manipulation, enabling Twitter to analyze complex data and improve conversation health on the platform. The move aimed to strengthen product features like timelines and recommendations and counter spam and abuse.
Google acquired Twitter-backed AI avatar startup Alter for approximately $100 million to enhance its content capabilities and compete with TikTok. Alter, known initially as Facemoji, offers technology for virtual identity creation. The acquisition has been kept under wraps for months, strengthening Google's position in the creator ecosystem.
Jack Dorsey’s net worth reached $5.1 billion in 2023, ranking him the 581st wealthiest person globally. As the co-founder of Twitter and Square (now Block), Dorsey’s entrepreneurial ventures and strategic investments have played a crucial role in his financial success. Despite stepping down from Twitter’s board in 2022, his influence in the tech industry continues to drive his wealth.
Dorsey’s annual income is estimated at $58 million, generated from multiple sources. His salary as the CEO of Block is significant, while his investments in various industries, equity stakes in companies, and income from intellectual property rights further augment his wealth. Additionally, Dorsey benefits from speaking engagements, consultancy work, and board positions.
Jack Dorsey, co-founder of Twitter and Square (now Block), has significantly contributed to technology and finance. He launched Twitter in 2006, revolutionizing social media with its microblogging format, which became a global communication tool. Under his leadership, Twitter went public in 2013. In 2009, Dorsey co-founded Square to simplify payment processing for small businesses, introducing a mobile card reader that democratized financial transactions. Dorsey's innovations have empowered entrepreneurs and reshaped industries, leaving a lasting legacy in social media and fintech sectors.
Jack Dorsey’s tenure on Twitter was marked by several controversies. Here are some major ones:
Anti-Israel protest: Jack Dorsey, Twitter's founder, faced backlash for showing support for anti-Israel protests at Columbia University and criticizing the NYPD's response, including arrests during the eviction. His endorsement of left-leaning podcaster Kyle Kulinsky’s comments comparing the protests to past anti-war rallies sparked outrage, with some labeling him a "Jew hater."
Censorship: Jack Dorsey, co-founder of Twitter, alleged that the Indian government pressured Twitter with censorship demands and threats during the 2021 farmers’ protests. He claimed officials threatened to shut down Twitter and raid employees’ homes if compliance wasn’t met. However, the Indian government denied these accusations, calling them false and criticizing Twitter's past actions.
Banned Trump: Twitter permanently banned US President Donald Trump's account due to repeated site rule violations. In fact, this was the first time action was taken against President Trump for his contribution to the platform as a tool for policy announcements, attacks, and spreading false information. Despite increasing demands to ban his account and pressure on the platform to limit his prolific, inaccurate tweeting, Twitter had managed to retain his account based on public interest.
Banning Political Advertisements: Twitter announced that it will impose an outright global ban on political advertisements, citing that political message reach "should be earned, not bought." According to CEO Jack Dorsey, political use of the internet posed fundamental risks to global politics. The move sparked intense debate about the platform's influence on free political expression and discourse.
India Visit: It kicked up a social media storm when Twitter CEO Jack Dorsey took a photo wherein he posed with a placard reading "Smash Brahminical Patriarchy" during his visit to India. The picture led to a virtual caste war on Twitter, and the social networking site received backlash for perceived bias and not talking enough about caste oppression. Dorsey’s gesture was also heavily criticized.