Market Overview

Biz Stone: Twitter Is A Company Of Enduring Value


Twitter Inc (NYSE: TWTR) has gone through big changes in the last couple of months.

Biz Stone, co-founder of Twitter and current CEO of Jelly Industries, was recently on Bloomberg to discuss the recent changes Twitter has gone through.

"Well, there's always been management changes at Twitter from day one," Stone said. "I have always said and I think Dick [Costolo, Twitter CEO] echoed this recently, Twitter needs who it needs when it needs it. I have always thought of Twitter as this sort of living thing and it needs who it needs when it needs them to guide it. That’s really what the job of these executives are. It's almost like just guiding it because it's got this life force of its own."

"This is a company of enduring value and the thing, I know Wall Street thinks quarterly and all that other stuff and everything is like hyper short-cycles, but you really got to think about these things decades out in order to think correctly about them."

When queried about how supportive he is of the changes Costolo is making in Twitter, Stone replied, "I had drinks with Dick and I told Dick, listen you're not driving the fancy car that belongs to me, Evan, Jack. This is your car and 98 percent of people who work at Twitter, came here with you at the helm. You're the boss, it's your car."

Shares of Twitter closed Monday at $40.19, up 0.4 percent.


Related Articles (TWTR)

View Comments and Join the Discussion!

Posted-In: Biz Stone Bloomberg CNBCMedia