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Zillow CEO: Jack Dorsey Following Steve Jobs' Path 'Will Be A Mistake'

Zillow CEO: Jack Dorsey Following Steve Jobs' Path 'Will Be A Mistake'

The New York Times recently published a piece that 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 receives 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."

Related Link: Twitter Buyout Odds Are At The "Greatest" Right Now

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."

He explained, "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 become much larger. So, I think that’s why we talk about it so much."

Twitter Needs Someone With Full-Time Focus

On why Dorsey couldn't possibly 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."

Image Credit: Public Domain


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