Come on, do you believe this? Jack Dorsey says he doesn’t ever look at Twitter’s stock price. Really, I’m not sure if this is a good thing or a bad thing. I mean you certainly don’t want a CEO who obsesses over their company’s stock price, so much so that they don’t have a long term outlook, but if your company’s stock is tanking you might want to look at its chart from time to time:
It had been a strange week for Dorsey. Shares of Twitter’s stock had fallen another 16 percent in a single day after the most recent quarterly earnings statement detailed slowing ad growth and only a minuscule user increase. And yet, shares of Square had rallied, up 16 percent. Dorsey was, as one investor noted on Twitter, the C.E.O. of both the best- and worst-performing tech stocks in the United States that week.
“You should try the crispy beef tacos,” he told me as he ordered from a bright-red food truck that was parked on the sidewalk. “Sure, I’ll have two,” I replied and then jumped into a question I had for him: “Do you ever look at the Twitter stock chart on your phone and turn it upside down and dream of a day?”
After brief laughter, he said he doesn’t look at the stock chart, ever. “I know there are people in the company that do, but I don’t because I can’t control that.”
“Nope,” he said. “Never.”
But Jack Dorsey isn’t oblivious to the potential for Twitter’s rebound or its market capitalization. Although Twitter reaching the levels of Apple or Disney in the future seems a stretch to say the least:
During our conversation, Dorsey tried to convince me that there was a better future for Twitter. He noted that Apple, at its low, was worth $271 million. Then Steve Jobs returned and set it on a path to a market capitalization of $774 billion. Disney, he also noted, was in the sink before Bob Iger retooled the company and led it to a valuation of more than $200 billion.
Read full story over at Vanity Fair.