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From Passion to Wealth: Jack Dorsey’s Road to Success

Image Commercially Licensed
Image Commercially Licensed

Source: Britannica

Jack Dorsey is widely known for Twitter and Square, a cofounder of both companies. 

Twitter is a social media platform in which people in different industries can interact and share their thoughts in roughly 140 characters, used by crypto miners as well. 

On the other hand, Square is a mobile payment company that provides a suite of business software, point-of-sales system, payment hardware products and small businesses services. 

The entrepreneur is also a Bitcoin fanatic. He has frequently addressed the crypto industry on multiple occasions. His Bitcoin enthusiasm may spark the ton’s interest because of his tech influence.

In 2020, Dorsey led Square to grant a $50 million fund to Bitcoin as CEO of the firm. Square publicly disclosed their BTC purchase, mimicking similar strategies by MicroStrategy, a business intelligence firm, and Paul Tudor Jones, a hedge fund founder.

He was born on the 19th of November 1976 in Missouri. His teenage years were composed of him being hooked on computers and communications. He started programming while studying in high school at Bishop DuBourg High School. 

Dorsey was absorbed by the art of technology used in vehicles that ought to have real-time communication with one another. He developed a dispatch software that was extensively used by taxicab companies for decades, and take note, he was only 15 at the time. 

Dorsey briefly studied at Missouri University of Science and Technology and later moved to New York University. And in the name of computer science entrepreneurs’ tradition (counting Steve Jobs, Bill Gates, and Mark Zuckerburg), he dropped out of college prior to acquiring his degree. 

Afterwards, Dorsey transferred to Oakland, California, and began his first ever dispatch software company via the internet in 2000. Not long after launching his company, he came up with a plan that allows a site to combine the expanded capacity of dispatch software with the convenience of quick messaging.

After a few years, Dorsey proposed his idea to co-founders Evan Williams and Christopher Stone, together with a prototype of what we know now as Twitter. They posted the first tweet on the 21st of March 2006. The platform’s popularity spread like wildfire. Soon in 2008, Dorsey was installed as the CEO. 

A year later, he founded and became the CEO of Square, which launched in 2010. And in a span of 2 years, the company gained over two million users. 

Dorsey recently dropped his CEO position on Twitter saying, “After almost 16 years of having a role at our company … I decided it’s finally time for me to leave. Why? There’s a lot of talk about the importance of a company being founder-led. Ultimately I believe that’s severely limiting and a single point of failure.”