'It's Not The Party, It's The System:' Jack Dorsey Blasts Democrats, Republicans For Failing The Public

Twitter Inc TWTR founder and Block Inc SQ CEO Jack Dorsey reacted to upcoming inflation numbers on Monday and said in a social media post that both parties had squandered opportunities to build trust with the public.

What Happened: Dorsey said both Republican and Democrat administrations had failed the public due to flaws in the system. 

Dogecoin DOGE/USD co-creator Billy Markus in response said he used to consider one party to be good and the other "not good," but now thinks both are "garbage."

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Why It Matters: Political commentator and former spokesperson for President Barack Obama, Tommy Vietor, called Dorsey’s take on the two parties lazy and lacking critical thinking. He said the Block CEO can spend more time “peddling the new ‘system’ of cryptocurrencies that will make you filthy rich (again).”

Dorsey responded that he has “zero interest” in making money, but aimed to fix it. He added that he also had no interest in cryptocurrencies.

Economists, polled by Reuters, expect aggressive rate hikes by the U.S. Federal Reserve as the central bank moves to tackle rising inflation.

Price Action: On Monday, Twitter shares closed 1.7% higher at $47 in the regular session and fell 0.3% to $46.68 in the after-hours trading, according to data from Benzinga Pro.

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Photo: Courtesy of Mark Warner on Wikimedia