Because Williams funded the company out of his own pocket using proceeds from the Blogger sale (or more precisely proceeds from Google's IPO, since that sale wa

Because Williams funded the company out of his own pocket using proceeds from the Blogger sale (or more precisely proceeds from Google's IPO, since that sale was for shares). There were other investors, sure, but not too many after he cashed out the Odeo investors (some insisted on staying in, but many took their money). Dorsey, by contrast, was hired help - an Odeo/Obvious employee and then Twitter CEO (and then ousted ex CEO).