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Jack Dorsey has a secretive business that's charged millions to Twitter and Square
- jgalt212 11y agoThis sort of self-dealing is bad in a private company, but for the CEO of one, and soon two, public companies, it's more than that. It's possibly illegal given his fiduciary responsibility to the shareholders. The onus is on Jack to prove why Twitter and Square did business with another business he controls versus other possible vendors.
- pavornyoh 11y ago>Dorsey isn't doing anything wrong or illegal. Yet the arrangements between West and Twitter and Square do suggest a conflict of interest. When companies buy services from agencies they're supposed to make their appointments based on the value that agency will be able to provide. Appointing a company that your CEO is invested in could raise a problem for internal marketing departments: it could present some political tensions if the marketing boss wanted to get rid of the agency from the roster, for example. Such interests can make it difficult to for him to fulfill his duties impartially.
- endswapper 11y agoToo much emphasis on "secrecy." Sometimes things just aren't worth discussing...If "companies buy services from agencies they're supposed to make their appointments based on the value that agency will be able to provide," then not enough emphasis is placed on the value of certainty, peace of mind and the ability to shift focus to other priorities.