Tag: Jack Dorsey

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Twitter Exodus Proves Jack Dorsey Is Taking Control

Twitter is currently experiencing some employee shakeup, since late July Twitter has either been clearing house or losing talent such as Loren Brichter (developer of Tweetie, acquired by Twitter), Mike Abbott (VP of Engineering), Sean Garrett (Head of Communications), and most recently Pam Kramer (VP of Consumer Marketing).  Even some investors are heading for the door, Fred Wilson of Union Square Ventures left his seat on the board back in September.  Now, I should also note it is bringing in new talent, too, but it is pretty clear that the outflow of employees is currently greater than the inflow.

So what is going on at Twitter?  Jack Dorsey.

Clearly, Jack is the only common denominator here, since his return, there have been several employees leaving.  However, let me be clear — this is not necessarily a bad thing.  People who joined Twitter before Jack came back did so because of the management team at the time and the direction they were looking to go.  Which means that Jack’s vision for Twitter is obviously different from previous managements, hence the exodus.

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Square Eliminates 15¢ Fixed Fee On All Swiped Payments

Square, the mobile payment processor, which we reviewed in the past has recently announced that they have eliminated the 15¢ fixed fee that was incurred with every swiped (using the reader) payment.  Now, all you have to pay on a per transaction basis is the 2.75% fee as opposed to the 2.75% + 15¢ fee (per transaction) which was the case previously.  However, credit card payments accepted by Square that are manually entered still require a 3.5% + 15¢ per transaction fee.

This announcement definitely differentiates Square from its current competitors and especially from current credit card processing companies who take a large amount of fees (typically).  In fact, according to Square, many businesses are not even aware of how the fees work or how much in fees is taken.  You can watch the video (provided by Square) where they speak with several business owners about credit card fees.

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