JACK DORSEY: How Your Tweets Has Made Him A Billionaire at 35

Jack Dorsey      Photo Credit: Inc

Mr. Dorsey road to becoming a billionaire was simply by daring his head out of the box; Square and Twitter the companies Jack founded are now valued at $3.2 billion and $8.4 billion respectively. Back in 2000 at 23 years of age, he noticed that there needed to be more efficiency for dispatch routing, he wrote a software package for dispatch routing where to this day, dispatch couriers, emergency services could be dispatched from the click of a mouse. Then zoom to 2006; he had the idea to create some simple way to send status updates to friends (Keeping in line with the ‘keep it simple’ here at CreativityTurf). That is, one could share his status easily with friends, so that friends are kept in the loop as to what they are doing, but it had to be kept at 140 characters or less, without entering a blog or live journal. Two weeks later, a prototype was built and as they say the rest is history. Fast forward to 2012, with over 100 million official active users and growing in its 6 year time span, rubbed in by pop-culture (thanks to Ashton Kutcher), TWITTER is one of the new ‘it girl’ or ‘must have’s’ of this new generation. It is slowly making facebook look like a grandma because “FOLLOW ME ON TWITTER” is slowly sounding much cooler than “ADD ME ON FACEBOOK” and less stressing in fact.

Twitter has succeeded in breaking the fourth wall between celebrity and fan or firm and consumer because due to the close proximity, it allows people to feel like they are more connected like ever before as a result has breathed a new life into relationship marketing. Anything that needs to be communicated now is done by a simply tweet and instantly the information gets out there and it is also possible to check whether it is effective, by simply asking for a re-tweet or to tweet back. Celebrities can get fans hyped about a new album, film or TV show or a new product that they are endorsing (they even get paid atimes to tweet about a product, Kim Kardashian confirmed that) just with one simple tweet. Also, it serves as the new suggestion box whereby new products can be tested to get consumer feedback or even whereby consumers can keep up with product related updates. So, it is a win win for everybody. Frankly, as more people are entering twitter, more people are finding various uses for it. Even Obama is on twitter and used it on July 6th 2011, along with Dorsey to moderate a twitter town hall meeting with Obama and America about the economy and jobs. I could also add that Dorsey has not been shy about one day hoping to become mayor of New York, so maybe an Obama recommendation might help. Maybe.

As of 2011, twitter has been valued at $8.4 billion, interesting as this is all from one man who sat down and simply got his head out of the box, and just made a slight change to the status updating. Interestingly, Dorsey said he wants to see the basic issues and annoyances that people deal with in their lives. Therefore deciding to move Twitter’s headquarters to a place where they could interact and witness “the problems facing real Americans” (Mid-Mark et San Francisco) rather than being located in the popular tech hub Silicon Valley.

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One Comment Add yours

  1. Tajuana says:

    Thanks for another great post. Where else could anybody get that kind of information in such a perfect way of writing? I’ve a presentation next week, and I’m on the look for such information.

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