Jack Dorsey gives 1% Twitter stock to employee equity pool
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Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#2Duplicate: https://news.ycombinator.com/item?id=10436803
I actually think this NY times link is better because it provides more info and context, FWIW
Edit: Actually the NY times link was posted after this, so I guess it's a dupe of this, not the other way around :)
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#3This is a little weird. Jack Dorsey is not a majority owner of Twitter and so he can't do whatever the heck he wants. Most companies would ask the board for approval to issue more shares for its employees - this did not happen. So then the question is, 'why does Jack feel compelled to donate his shares more than any other Twitter shareholder?'
One reason could be Jack is a philanthropist and believes in giving back to people who may have contributed to his success.
Another could be Jack expects a return in investment. But how much? Twitter market cap is ~19B. He is giving 1% of Twitter to employees which is 190M. He owns 3% therefore he was worth 570M. To make his money back, Twitter must rise from 19B to 25B. Can 190M invested in its current developers achieve this?
Probably not. Jack is most likely trying to save Twitter. The third option is Twitter is in big trouble and only Jack can see it. This could be a last ditch effort to make short term investments to save the company by investing in the people that matter most. It's a bold move that could pan out in their favor.
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#4NYT headline: "Jack Dorsey Gives One-Third of Twitter Stake to Employees"
Article body: "Although no employee is being given additional stock directly" ...
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#5This is a little weird. Jack Dorsey is not a majority owner of Twitter and so he can't do whatever the heck he wants. Most companies would ask the board for approval to issue more shares for its employees - this did not happen. So then the question is, 'why does Jack feel compelled to donate his shares more than any other Twitter shareholder?' One reason could be Jack is a philanthropist and believes in giving back t…
i think it's more that he already has way more money than he needs. And needs to inspire confidence with employees and show his commitment to creating a better Twitter. to him it doesn't mean much financially, but he's probably hoping it shows that he's committed.
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#6NYT headline: "Jack Dorsey Gives One-Third of Twitter Stake to Employees" Article body: "Although no employee is being given additional stock directly" ...
How is it being distributed then?
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#7This is a little weird. Jack Dorsey is not a majority owner of Twitter and so he can't do whatever the heck he wants. Most companies would ask the board for approval to issue more shares for its employees - this did not happen. So then the question is, 'why does Jack feel compelled to donate his shares more than any other Twitter shareholder?' One reason could be Jack is a philanthropist and believes in giving back t…
> effort to make short term investments to save the company by investing in the people that matter most
those seem like long-term investments to me
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#8This is a little weird. Jack Dorsey is not a majority owner of Twitter and so he can't do whatever the heck he wants. Most companies would ask the board for approval to issue more shares for its employees - this did not happen. So then the question is, 'why does Jack feel compelled to donate his shares more than any other Twitter shareholder?' One reason could be Jack is a philanthropist and believes in giving back t…
I had the same line of thought as you. I wonder how large his RSU grant will be as CEO. That would counteract some of this.
Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#9Re: Jack Dorsey gives 1% Twitter stock to employee equity pool
#10This is a little weird. Jack Dorsey is not a majority owner of Twitter and so he can't do whatever the heck he wants. Most companies would ask the board for approval to issue more shares for its employees - this did not happen. So then the question is, 'why does Jack feel compelled to donate his shares more than any other Twitter shareholder?' One reason could be Jack is a philanthropist and believes in giving back t…
Doubt he's the only one who can see it. It's written up in many stories and most people using Twitter can see how much of a graveyard it can become at times. (It's the social network I use most, so I'd rather that weren't the case.)
This could be purely a move about PR and legacy. In recent times we've seen Yahoo and then Microsoft make expensive moves in an attempt to gain relevance.
I'm not sure it'd be the rank and file employees who hold Twitter back, but anyone steering it?