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Twitter's COO Noto Resigns to Become Chief Executive at SoFi
- DamonHD 9y agoCOO
- whatok 9y agofixed. copied from the bbg article, didn't even notice.
- chollida1 9y agoI wonder if this will be the impetus that makes Jack become a full time CEO of twitter. Anthony was one of those COO's who was fully capable of being the CEO, and had the experience to prove it. Just like Bill Gates had John Shirley, and Steve Jobs had Tim Cook, Jack had Noto. Without such an experience and capable person to run the day to day, I've got to imagine that Jack's job at twitter just got alot harder.
- kloncks 9y agoThe company Jack Dorsey is CEO that is doing well isn't Twitter. If he is thinking logically, that would be where he will focus all his resources. Twitter needs and deserves a full-time CEO or to get sold to a larger company that can do something with it.
- uptown 9y agoI still feel Bloomberg LP would be the ideal buyer of Twitter.
- sebleon 9y agoBloomberg could not afford Twitter - their market caps are $22Bn and $17Bn, respectively.
- deleted 9y ago[deleted]
- adventured 9y agoBloomberg is worth $50+ billion. They could afford Twitter. Michael Bloomberg is worth an estimated $52 billion per Forbes. He owns 88% of Bloomberg the company, and nearly all of his wealth is wrapped up in the company. It's an extremely profitable business with $9+ billion in revenue. It was worth ~$22 billion during the great recession, when Michael Bloomberg repurchased 20% of the company (rather brilliant timing, buying it from Merrill Lynch). That was a decade ago. https://www.forbes.com/profile/michael-bloomberg/ https://www.forbes.com/profile/michael-bloomberg/
- RyanZAG 9y agoI'd guess he has more profitable and more useful things to spend his money on than Twitter.
- adventured 9y agoDefending that archaic terminal monopoly for one. In all seriousness, as savvy as Bloomberg has been throughout his career, I'd expect him to wait until valuations plunge again, before making any big moves. I also wouldn't expect them to bother with Twitter. He's a signer to the giving pledge. At nearly 76, he's no doubt facing a serious decision about what to do with his company. I'd expect either a public listing, or a sale to a large financial firm (JP Morgan etc).
- mcintyre1994 9y agoSurely regulators wouldn't let Bloomberg be bought by a large financial firm whose competitors all rely on the data?
- whatok 9y agoI wouldn't even worry about regulators in that case. What financial institution is going to rely on a product that your competitor has control over?
- dbbk 9y agoOr he might take the Marissa Mayer approach and say hey, the other one is a harder challenge, and thus more interesting.
- mathattack 9y agoJack had an all-star team around him. If he has to choose, why not go with the winner? I’m surprised this story isn’t bigger news.
- jonknee 9y ago> I’m surprised this story isn’t bigger news. It was on Wall Street, the stock has taken a beating since rumors of this leaked out.
- bastawhiz 9y agoWhy would Jack choose Twitter over Square? Square, at least from my perspective, seems to be doing fairly well. Twitter, on the other hand, does not.
- askafriend 9y agoBecause he's responsible for both companies, and he should spend a majority of time on whichever company needs more of his time (which as you suggested, might be Twitter).
- statusgraph 9y agoNo, for the same reason you don't spend most of your time on your weakest employees or most of your money on your poorest investments. Feed your winners.
- yeukhon 9y agoTough question. You have two choices when it comes to the weakest employee. Either you reach out and spend time to UNDERSTAND how to help this employee, or you can just ask the employee to leave. A good manager would do the first unless there is absolutely no sign of any improvements. What is the definition of winners anyway? The one that gets the most code done and go home at 3PM? Or the one who is capable of delivering good work AND willing to help others to succeed? For some, bring a down company back on its feet is the most challenging and rewarding project. Dorsey has to choose. Perhaps he just isn't the right person to lead Twitter. Or maybe he has to give up one child over the other. This isn't the simple "let me sell the bad assets" question. Twitter is still living, and is making money, just down the slipping route for far too long. Snap is in the same boat. It's hard to let go of the control when you co-founded both and you have visions you really want to make them happen. On the other hand, why overwork? If I were him, I pick one so i can have some breathing room (but I rather quit and spend my day time on non-business stuff like earn another degree or hike around). Just my thought.
- product50 9y agoWow comparing Jack to any of those CEOs and Noto to those lieutenants is blasphemy. Remember, Twitter still hasn't had a single profitable quarter yet.
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- buamaharamin 9y agoBREAKING: Twitter Sends Paul Watson An Email Accusing Him Of Being A Russian Agent https://www.youtube.com/watch?v=-NZ2iW153KM https://www.youtube.com/watch?v=-NZ2iW153KM Good bye twitter!!
- supercarn 9y agoBREAKING: Twitter Sends Paul Watson An Email Accusing Him Of Being A Russian Agent https://www.youtube.com/watch?v=-NZ2iW153KM https://www.youtube.com/watch?v=-NZ2iW153KM
- ghfhgfhgf 9y agohttps://www.youtube.com/watch?v=-NZ2iW153KM https://www.youtube.com/watch?v=-NZ2iW153KM BREAKING: Twitter Sends Paul Watson An Email Accusing Him Of Being A Russian Agent
- purplezooey 9y agoIt seems like C-level executives in the tech. industry are just passed around like tired, worn cards. It's like bad re-gifting. They need to promote more internally to C-level.
- mc32 9y agoSometimes as a company grows they need "old hands" to guide them to the "next level", i.e. transform from start-up to full-blown company with all the requisite experience that needs. Google brought-in Eric Schmidt. In the transformation toward maturity they can engage in promoting leadership from within with guidance from acquired leadership. Not all companies have needed that external experience, but many have.
- chrisgd 9y agoNo the board can cover their ass if something goes wrong. "Well, we brought in a proven commodity, not my fault"
- MicroBerto 9y agoAgreed. Time will tell, but I have a feeling that this is because they have some kind of "good ol boys club" and they're not comfortable with new people in their inner circle. I wonder why. I also wonder what's going to happen with the Alwaleed stake, and if they're connected to this. I'm guessing that within 12 months Jack will not be a part of Twitter nor any other tech company.
- ameliaquining 9y agoThat could easily be rational behavior on their part if the primary thing they're worried about is investor confidence.
- rco8786 9y ago> I'm guessing that within 12 months Jack will not be a part of Twitter nor any other tech company. Interesting thought, especially considering the relative success both of his companies have had in the prior 12 months (in the stock market, anyway)
- product50 9y agoThis is good news for Twitter. No more distractions on live video which seem to primarily driven just because of Noto's prior NFL CFO credentials.