Jack Dorsey was rapturously announced as Twitter CEO permanent late last year, the once prodigal cofounder stepping into the breach of a seemingly leaky ship that was struggling to impress shareholders. The fanfare of @jack returning to the house he built after 7 years away didn’t last long though, less so once it dawned that he was taking his other startup, Square, public. Could the man who’d been pushed to the gangplank for leaving work early to focus on leisurely pursuits manage time as head of not only two companies, but two companies at the whim of shareholder confidence?
As it turns out, he can. Square had its earnings call yesterday, its first since going public, and performed impressively. Revenues are at $374 million, more than the estimated $343.2 million and up 49% from last year’s quarter. The main talking point though, was Dorsey’s working day — all 18 hours of it, apparently.
“I benefit a lot from a consistent schedule and a consistent structure,” he said last night. “It’s been working out really well.”
So how does he mange it?
Monday mornings involve four hours at each company taking meetings with leadership to check on the running of things. Dorsey has also taken a step back from the daily operational work, opting instead to focus on recruitment and product reviewing — essentially, allowing him to delegate tasks to people he trusts. The rest of his scheduled working week involves followup meetings on Wednesday and Friday to keep in the loop with the day-to-day.
Dorsey also made it clear that the companies are closely situated across the street from each other, “So that allows me to be at both companies every single day and be present.” No more skipping work to take a yoga class.
Square may be blossoming for Dorsey, but Twitter remains somewhat of a problem child, although is showing signs of a recovery it has to be said. Shares in the social network are still 66% off their highest 52-week stint, but have jumped more than 20% over the past three weeks.
Dorsey still has to convince those on Wall Street that he can balance two jobs, but for now, he’s passed the first test.
(Photo: Simon Dawson/Bloomberg News)