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The New York Times recently published a piece which highlighted how Twitter Inc (NYSE: TWTR)’s new interim CEO, Jack Dorsey, is trying to follow in the footstep of Steve Jobs by being CEO of two high-profile tech companies (Twitter and Square) at the same time.
Spencer Rascoff, Zillow Group Inc (NASDAQ: Z) CEO, was on CNBC recently to discuss why it would be a ‘mistake’ if Dorsey follows Jobs’ footsteps and why Twitter gets so much media attention.
Can’t Happen Again
“I don’t think anyone can be CEO of Twitter and CEO of another company at the same time,” Rascoff said. “Just because Steve Jobs did it once upon a time doesn’t mean it can happen again.”
Market Cap Belies The Impact
Rascoff was asked why Twitter gets so much media coverage compared to other companies of the same size. He replied, “The market cap belies Twitter’s impact…It’s a $23 billion market-cap company, same as LinkedIn for example a company that we don’t talk about as much, same as Netflix. And yet, Twitter’s impact is much, much larger and its market-cap could eventually could eventually become much larger. So I think, that’s why we talk about it so much.”
Twitter Needs Someone With Full-Time Focus
On why can’t Dorsey follow in the footsteps of Steve Jobs or Elon Musk, Rascoff said, “I think, it will be a mistake personally. What Twitter needs is someone with full-time focus and it’s sustainable over the short-term, but over the long term especially with a company as dynamic as Square that will eventually go public as well and has its own challenges and opportunities, I think, it’s [pretty much a challenge].”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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