Jack Dorsey is synonymous with entrepreneurship and innovation. He co-founded Twitter (now X) and co-founded and is the CEO of Square, a financial services and mobile payments company. Dorsey is recognized as one of the most influential people in technology and business. His journey to success is an inspiration to aspiring entrepreneurs around the world .

Dorsey was born on November 19, 1976, in St. Louis, Missouri (USA). His parents divorced when he was young. He lived with his mother in the suburbs of St. Louis. Dorsey showed an early interest in computer programming and began teaching himself how to code at the age of 13.

nqlvag2i.png
Jack Dorsey is the man behind two famous American technology companies in the fields of social networks and fintech. (Photo: Reuters)

Dorsey attended Bishop DuBourg High School in St. Louis, where he continued to develop his programming skills. He also became interested in punk rock music and began playing in local bands. After graduating from high school, he attended the University of Missouri-Rolla, majoring in computer science and economics .

In 2006, Dorsey founded Twitter with Biz Stone and Evan Williams. The idea for Twitter came to him while he was working on a project that would allow dispatchers to communicate with delivery people via text messages. He realized that the same concept could be applied to a social media platform where people could share short, real-time updates with their friends and followers.

On February 21, 2006, he posted his first tweet: “Just started Twitter.” The first public version went live in June 2006. Initially, Americans said Twitter was useless. Even Evan Williams compared the project to a delicious but useless ice cream. However, with the development of smartphones, sending messages over the Internet became easier than SMS.

Twitter quickly became one of the most popular social media platforms in the world, and Dorsey was known as a technology visionary. However, in October 2008, he was forced out of the company by Williams himself. In 2010, Williams, unable to manage Twitter, handed the position to another senior executive, Dick Costolo, who then decided to invite Dorsey back as Executive Chairman. In June 2015, Costolo resigned as CEO of Twitter, and on October 5, 2015, Dorsey was appointed as the head of the "blue bird".

During his time away from Twitter, Dorsey founded Square in 2009. The company's first product was a small, square device that plugged into a smartphone or tablet to process credit card payments. Square was an immediate success and has since expanded to offer a range of financial services for small businesses.

In August 2012, Starbucks invested $25 million in Square. Not only that, Starbucks CEO Howard Schultz also joined the company's board of directors. For Square, the partnership with the largest coffee chain in the US is worth much more than money because it helps introduce new services to many Americans. On December 1, 2021, Dorsey changed the name of Square to Block to show his passion for blockchain technology.

Dorsey's success with Block has made him one of the most influential people in the world of financial technology. In addition to his work at Block, he has also invested in a number of other startups, including Uber and Airbnb.

In November 2021, Dorsey announced his resignation as CEO of Twitter, and Parag Agrawal was taking his place. In October 2022, Twitter sold itself to Elon Musk, with Dorsey still holding a 2.4% stake in the company.

Advice for aspiring entrepreneurs

According to Forbes magazine, the former Twitter CEO's net worth as of October 2023 is $3.1 billion. Entrepreneur Dorsey's success is a testament to his vision, perseverance, and dedication.

One of his most notable qualities is that he works very hard. He can spend eight hours at Twitter and then go the next street to work another eight hours at Block. Both companies grow quickly and require the attention of their leaders. To meet that intensity, he plans every minute of every day.

“The only way to work 16 hours is to be extremely disciplined and plan your workday,” he said.

For aspiring entrepreneurs, he has some important advice:

Start small: Dorsey believes that the best way to become an entrepreneur is to focus on solving a small problem that you are passionate about. This can help you build momentum and gain valuable experience before tackling bigger challenges.

Transparency: Dorsey believes that transparency is key to building trust with customers and employees. He recommends being open and honest about your goals, values, and struggles.

Embrace failure: Dorsey acknowledges that failure is a natural part of the entrepreneurial journey. He encourages entrepreneurs to learn from their mistakes and use them as opportunities to grow and innovate.

Focus: Dorsey says it's important to stay focused on your mission and core values, even in the face of distractions and setbacks. He recommends setting clear goals and being disciplined in your approach.

In short, Jack Dorsey’s journey to success is a testament to the power of innovation and entrepreneurship. Dorsey’s legacy as a business leader and technology visionary will continue to inspire generations of entrepreneurs for years to come.

(According to Astrumpeople, corporatesoldiers)