All articles tagged with #jack dorsey
Twitter co-founder Jack Dorsey has launched a new iOS app called Sun Day that tracks sun exposure and vitamin D levels using location data, skin type, and clothing information, available via TestFlight and open-source on GitHub, as part of his recent coding projects using AI tools.
Jack Dorsey is developing Bitchat, a Bluetooth mesh network messaging app that extends communication range up to 300 meters and is designed for use without internet, emphasizing decentralization and encryption. The app is currently in beta testing with a limited user base and aims to provide a secure, offline messaging option, similar to other apps like Bridgefy used in protests.
Jack Dorsey has launched Bitchat, a decentralized, Bluetooth-based messaging app that operates without internet infrastructure, offering encrypted, ephemeral communication suitable for scenarios like protests or disaster zones, emphasizing privacy and resilience.
Bluesky, the open-source social media platform spun off from Twitter, announced it is quadrupling its moderation team to address a backlog of reports, particularly impersonation issues, amid a surge in new users. This move comes after Jack Dorsey, Twitter's co-founder, left Bluesky's board, criticizing it for repeating Twitter's mistakes in censorship. The platform is also working on verifying organizations and implementing policies to prevent impersonations. Dorsey has previously attributed Twitter's censorship issues to advertiser pressure and broader systemic influences.
Jay-Z and Jack Dorsey launched The Bitcoin Academy in June 2022 to educate and empower the Marcy Houses community in Brooklyn about Bitcoin. A $1,000 investment in Bitcoin at the time of the academy's launch would have grown to $3,672.13, marking a 267.2% return. The initiative faced criticism due to cryptocurrency volatility, but Bitcoin's value has since increased significantly.
Block employees have been instructed not to discuss board member Jay-Z internally, amid recent layoffs at the company. The directive comes as Block, led by CEO Jack Dorsey, undergoes restructuring, including layoffs at Tidal and other divisions like Square and TBD. The order coincides with questions about Jay-Z's board role, given his friendship with Sean Combs, who faces serious legal charges. Dorsey also addressed staff in a meeting, urging positivity and restricting anonymous questions.
Block, formerly known as Square, reported third-quarter revenue of $5.98 billion, missing Wall Street expectations of $6.24 billion, but slightly beat earnings estimates with 88 cents per share. Despite the revenue miss, investors focused on the company's profitability, with gross profit rising 19% to $2.25 billion. The Cash App business saw a 21% increase in gross profit, contributing significantly to overall profitability. Block's CEO, Jack Dorsey, highlighted the company's focus on lending products and future monetization strategies, while also scaling back investments in non-core areas like Tidal and TBD.
The Crypto Open Patent Alliance (COPA), backed by Jack Dorsey, has won a UK court ruling stating that Craig Wright, who claimed to be Bitcoin's creator, Satoshi Nakamoto, "lied on an extraordinary scale" and is not the author of the Bitcoin white paper or the creator of Bitcoin technology. COPA accused Wright of forging documents and using the courts for fraud. The alliance aims to remove patents as a barrier to cryptocurrency innovation. This ruling comes after Wright previously sued Bitcoin Core developers and companies for copyright violations, prompting the Bitcoin Legal Defense Fund to speak out against abusive lawsuits in the Bitcoin community.
Fintech company Block, owned by Jack Dorsey, reported a $207 million gain on its bitcoin holdings in its fourth-quarter earnings report, with approximately 8,038 BTC for investment purposes. The company made $66 million in gross profit on bitcoin sales last quarter through Cash App, with shares of Block (NASDAQ: SQ) rising 13% in after-hours trading to $76. Overall, Block reported a 22% yearly growth in gross profit to $2.03 billion, with Square generating a gross profit of $828 million and Cash App generating a gross profit of $1.18 billion.
Block, led by Jack Dorsey, reported a $66 million gross profit on Bitcoin sales through Cash App in the fourth quarter of 2023, with a 90% increase year over year. The company's total Bitcoin revenue was $2.52 billion, up 37% year over year, and it recognized a $207 million gain from its Bitcoin investments. Block's mobile Cash App generated $205 million in Bitcoin gross profit and $9.50 billion in Bitcoin revenue in 2023, up 31% and 34% year over year, respectively. The company's total revenues increased to $9.5 billion, representing 33.54% growth from the previous year.
Block, formerly known as Square, saw its stock surge up to 14% in after-hours trading following the announcement of better-than-expected fourth-quarter earnings, with $5.77 billion in revenue and $2.03 billion in gross profit. The company, led by CEO Jack Dorsey, reported strong growth in its Square and Cash App businesses, with 56 million monthly transacting actives for Cash App in December and a 25% year-over-year rise in Cash App gross profit. Block also raised its adjusted EBITDA forecast and emphasized its focus on building a large network with an engaged customer base.
In a Q&A with the author of "Battle for the Bird," Kurt Wagner discusses how Elon Musk's acquisition of Twitter was influenced by Jack Dorsey's management and the impact of activist shareholders. Wagner describes Dorsey as a hands-off CEO and explains how the Elliott Management situation and the pandemic led to his disengagement from Twitter. The author also delves into Musk's chaotic approach to Twitter's management, employees' reactions to his leadership, and the challenges Musk faces in turning around the social media platform.
Jack Dorsey, co-founder of Twitter, attended the 2024 Super Bowl wearing a T-shirt with the Nirvana smiley face logo and the word "Satoshi," referencing Bitcoin's creator, Satoshi Nakamoto. Dorsey has been a vocal supporter of cryptocurrency and his company, Block, saw a significant increase in bitcoin revenue through its payment service Cash App. He and Jay-Z have also collaborated on the Bitcoin Academy, an educational initiative for residents of a New York City public housing complex.
Jack Dorsey, the co-founder and former CEO of Twitter, made a statement at the Super Bowl by wearing a black t-shirt with "Satoshi" emblazoned in yellow lettering, a nod to the mysterious inventor of Bitcoin. The shirt, styled after the iconic Nirvana Smiley Face logo, has garnered attention due to Dorsey's vocal support for Bitcoin and his involvement in cryptocurrency initiatives. The tech mogul was photographed sitting with Beyonce and Jay-Z, and the shirt has sparked interest among fans, with similar items available on Etsy.
Bluesky, a social network championed by Jack Dorsey, has opened up for anyone to sign up, moving away from its previous invite-only model. The platform, resembling Twitter in many ways, offers more customization options but does not yet support direct messaging. Bluesky plans to allow users to move their data to competing social networks and aims to be the last social account users will ever need to create. However, achieving interoperability with other platforms may not be straightforward, as Bluesky uses a different federation algorithm called the Authenticated Transfer Protocol compared to other services like Mastodon and Meta's Threads, which use ActivityPub.