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☆ Netflix cofounder Reed Hastings just gave stock worth $1.1 billion to a Silicon Valley charity
▼ + stars: | 2024-01-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

He donated the holding, worth about $1.1 billion, to the Silicon Valley Community Foundation. The charity is favored by the elite of Silicon Valley including Mark Zuckerberg. AdvertisementReed Hastings, the cofounder and executive chairman of Netflix, has given away 2 million shares in the streaming platform. A Netflix representative told The Wall Street Journal the shares had been donated to the Silicon Valley Community Foundation. AdvertisementIn 2012 the Meta CEO and his wife, Priscilla Chan, donated 18 million shares worth about $500 million to the foundation.

Persons: Reed Hastings, Mark Zuckerberg, —, It's, Jack Dorsey, Priscilla Chan, Hastings, Marc Randolph, Patty Quillin, They've, Bill Gates, Warren Buffett Organizations: Netflix, Community Foundation, Service, Wall Street, Bloomberg, United Negro College Fund, Business Locations: Silicon Valley, Bay

☆ SumUp, a rival to Jack Dorsey's Block, defies fintech funding slump with $307 million cash injection
▼ + stars: | 2023-12-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

SumUp Chief Financial Officer Hermione McKee said the fresh capital gives the company "more firepower to act on opportunities," including acquisitions and new country launches. British payments startup SumUp, known for its small card readers, on Monday announced it has raised 285 million euros ($306.6 million) in a bumper round of funding that values the company north of $8.6 billion. The round predominantly consisted of equity, though a small portion of the funds was raised as debt. Then we look at Asia, how do we think about that region, and then obviously opportunities across Africa. A SumUp spokesperson confirmed the deal is an up round, meaning its valuation is higher than it was previously.

Persons: Hermione McKee, McKee, SumUp Organizations: Monday, Sixth, Bain Capital Tech, Fin, CNBC Locations: SumUp, Australia, America, Asia, Africa

☆ Marc Benioff says he gets around 8 hours of sleep a night and starts every morning the same way
▼ + stars: | 2023-11-28 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Benioff says he sleeps eight hours a night and meditates for up to an hour a day. Benioff said that he averages about eight hours of sleep a night. Though some business leaders swear they can survive on half the amount of sleep, Benioff isn't one of them. Asked about the entrepreneurs who say they get only four hours of sleep a night, Benioff quickly batted the idea down. Benioff also has a strict meditation routine that he's been dedicated to since 1992, according to GQ.

Persons: Marc Benioff's, Benioff, —, Marc Benioff, Jack Dorsey, Indra Nooyi, Jeff Immelt, Barack Obama, Donald Trump Organizations: GQ, Service, Pepsico, General, SFGate, San Locations: San Francisco, Plum Village, France

☆ Jack Dorsey is getting rid of annual reviews and PIPs at Block. I asked our workplace correspondent if it's a trend.
▼ + stars: | 2023-11-27 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

Jack Dorsey says Block will no longer do performance reviews or performance-improvement plans. She told me she thought PIPs — performance improvement plans — were underused because companies don't necessarily want to do the legwork that often goes with them. Jack Dorsey's Block just announced that they're going to stop doing PIPs and just fire people who aren't up to snuff. So, having some ability to correct your things you're doing wrong — that's important. Block is also getting rid of annual performance reviews.

Persons: Jack Dorsey, Block, Tim Paradis, Dorsey, —, BI's, who's, you've, Gen Z, Korn, they're, Jack Dorsey's Block, it's Organizations: Service, Business Locations: Valley

☆ Sam Altman's return to OpenAI means he joins Steve Jobs and Jack Dorsey on a list of CEOs who left companies they founded – then eventually came back.
▼ + stars: | 2023-11-26 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Apple’s Steve Jobs and Twitter’s Jack Dorsey made similar comebacks at the companies they founded. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPerhaps the most obvious example is Steve Jobs, who famously left Apple in 1985 after a boardroom struggle. If your company's board is willing to get rid of you once, they'll probably do it again.

Persons: Sam Altman, –, Steve Jobs, Jack Dorsey, —, hadn't, Altman, Greg Brockman, Jobs, John Sculley –, he'd, Travis Kalanick –, Uber, they'll, Dorsey, Elliott, Paul Singer, Elon Musk, Bob Iger, Howard Schultz, Uber's Kalanick, Adam Neumann Organizations: Service, Microsoft, Apple, PepsiCo, NeXT, Twitter, Elliott Management, Disney, Starbucks – Locations: Recode

☆ Sam Altman's return to OpenAI doesn't necessarily mean a return to normalcy
▼ + stars: | 2023-11-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at Sam Altman returning to the helm of OpenAI. Less than five days after his shocking ouster, Sam Altman is set to return to OpenAI as its CEO. Microsoft's CEO Satya Nadella, a key figure in the past few days' drama, comes out a winner. By helping to reinstall Altman at OpenAI, he stabilizes a key piece of Microsoft's AI strategy.

Persons: —, NASA's James Webb, Sam Altman, JACK GUEZ, OpenAI, Altman, we're, Bret Taylor, Larry Summers, Taylor, Adam D'Angelo, Greg Brockman, OpenAI's confounder, They've, Tim Paradis, Satya Nadella, Kevin Scott, Insider's Ashley Stewart, Julie Bort, Darrin Zammit Lupi, Patrick T, Fallon Rivian, Elon Musk's, Jack Dorsey, Amr Bo Shanab, Madison, they're, Vladimir Putin, Billie Jean King, Jamie Lee Curtis, Scarlett Johansson, Hailey Bieber, John Deere, LongeviQuest's Ben Meyers, Yumi Yamamoto, Fabrizio Villatoro, Jack SteerLo, Fusa Tatsumi, they've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NASA's James Webb Space Telescope, Getty, Silicon, Business, Microsoft, REUTERS, Elon, Madison Ave Locations: OpenAI, AFP, OpenAI's, India, New York City, San Diego, London, New York

☆ AI poster child Altman back at OpenAI, may have fewer checks on power
▼ + stars: | 2023-11-22 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.

Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru

☆ Who are OpenAI's new board members as Sam Altman returns?
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria Acquire Licensing RightsNov 22 (Reuters) - ChatGPT-maker OpenAI on Tuesday said it reached an agreement for Sam Altman to return as CEO days after his ouster, and also agreed in principle to partly reconstitute the board of directors that had dismissed him. Bret Taylor, formerly co-CEO of Salesforce and Larry Summers, former U.S. Treasury Secretary, along with Quora CEO and current director Adam D'Angelo will be part of the board, OpenAI said. Here's what we know about them:* Taylor, 43, is an American computer programmer and entrepreneur, who is also a board member at Shopify (SHOP.TO). Taylor will chair the OpenAI board* Summers, 68, is an American economist who has served as U.S. Secretary of the Treasury from 1999 to 2001* A professor at Charles W Eliot University, Summers is also President Emeritus at Harvard* Summers is also on the board of Jack Dorsey's Block Inc (SQ.N) and Skillsoft Corp (SKIL.N)* D'Angelo, 39, is an American internet entrepreneur, best known as founder of California-based social question-and-answer website and online knowledge market Quora* A Computer Science graduate, D'Angelo was previously CTO of Facebook for nearly two years till June 2008(Sources: TechCrunch, Reuters reporting and LinkedIn)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Anil D'Silva and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Altman, Carlos Barria, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Taylor, Charles, Summers, Jack Dorsey's, D'Angelo, Aby Jose Koilparambil, Anil D'Silva Organizations: Economic Cooperation, REUTERS, U.S . Treasury, Quora, Treasury, Charles W Eliot University, Harvard, Skillsoft Corp, Science, Facebook, Thomson Locations: Asia, San Francisco , California, U.S, American, Shopify, California, Bengaluru

☆ 'Boomerang' CEOs of major companies
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - Sam Altman reached an agreement with OpenAI to return as CEO on Wednesday, after a tumultuous few days following his ouster by the company's board. He joins a list of big name "boomerang" chief executives who have made comebacks at a later date. DELL (DELL.N) - MICHAEL DELLMichael Dell founded Dell Inc in 1980s and held the position of CEO until 2004, when he stepped down to serve as chairman. He returned as CEO in 2007 and led the company through the merger with EMC, which resulted in the emergence of Dell Technologies. He returned as CEO in 2023 amid challenges related to UBS's takeover of peer Credit Suisse.

Persons: Sam Altman, OpenAI, Steve Jobs, John Sculley, DELL, MICHAEL DELL Michael Dell, ROBERT IGER Robert Iger, HOWARD SCHULTZ Howard Schultz, JACK DORSEY Jack Dorsey, Evan Williams, Dorsey, SERGIO ERMOTTI Sergio Ermotti, Ralph Hamers, Boleslaw Lasocki, Victor Goury, Milla Nissi, Jane Merriman Organizations: Apple, Dell Inc, EMC, Dell Technologies . DISNEY, NBA, TWITTER, Twitter, UBS, Suisse, Thomson Locations: U.S, Swiss, Laffont, Gdansk

Jack Guez | Afp | Getty ImagesAfter a weekend of crisis and tumult, Sam Altman has returned as the CEO of OpenAI. Nathan Laine | Bloomberg | Getty ImagesBret Taylor, board chair Bret Taylor is currently a board member at the e-commerce platform Shopify . It isn't clear if Taylor's involvement with his own AI startup will cease with his appointment to lead OpenAI's board. OpenAI's board fired Altman Friday after determining he was "not consistently candid in his communications," but its members never elaborated further. Jack Guez | AFP | Getty ImagesIlya Sutskever Ilya Sutskever co-founded OpenAI and serves as its chief scientist.

Persons: Sam Altman, Ilya Sutskever, Jack Guez, Altman, There's, Satya Nadella, Nadella, Here's, Bret Taylor, Nathan Laine, He's, Elon, Taylor, Salesforce, Larry Summers, David A, CNBC Larry Summers Larry Summers, Clinton, Summers, Jack Dorsey, Adam D'Angelo Adam D'Angelo, D'Angelo, Helen Toner, CSET, Vox, Jerod Harris, Helen Toner Helen Toner, Toner, Tasha McCauley, Carlton Laguna Nigel, Tasha McCauley Tasha McCauley, Joseph Gordon, Levitt, McCauley, Ilya Sutskever Ilya Sutskever, Sutskever, Greg Brockman, Brockman, Brockman's, Sven Hoppe Organizations: Tel Aviv University, Afp, Getty, Microsoft, CNBC, Sequoia, Tiger Global, Salesforce, Viva Technology Conference, Bloomberg, Google, Economic, Grogan, Harvard University, Obama, Economic Council, Twitter, Meta, Facebook, The Ritz, Carlton, Georgetown University's Center for Security, Emerging Technology, Philanthropy, Business Development, Ritz, Rand Corporation, GeoSim Systems, AFP, University of Toronto, Stanford, Technical University of Munich Locations: Tel Aviv, Paris, Davos, Switzerland, Washington, Laguna Niguel, Dana Point , California, Russian Israeli, Canadian

☆ Jack Dorsey tells Block employees he's ending performance reviews, PIPs in favor of 'parting ways immediately'
▼ + stars: | 2023-11-21 | by ( Kali Hays | ) www.businessinsider.com time to read: +7 min

He also named Dhanji Prasanna, a longtime Block employee and its chief scientist, as the company's new CTO. Going forward, Block will rely on constant evaluations of workers to get past a perception that Block allows staff and managers to "'rest and vest' throughout the company," Dorsey wrote. "It's a lazy and often surprising approach that we can avoid with direct and consistent feedback," Dorsey said of PIPs. "We want to help everyone achieve excellence here at Block," he added. Excellence in service to our customers, excellence in our craft, excellence in our respective disciplines, and excellence to each other.

Persons: Dhanji Prasanna, Dorsey, There's, doesn't, I've, Dhanji Organizations: Business, Block Locations: Fe

☆ Jack Dorsey tells Block employees he's ending performance reviews and PIPs in favor of continuous evaluation: 'It's way too heavy for everyone involved.'
▼ + stars: | 2023-11-21 | by ( Kali Hays | ) www.businessinsider.com time to read: +7 min

He also named Dhanji Prasanna, a longtime Block employee and its chief scientist, as the company's new CTO. "It's a lazy and often surprising approach that we can avoid with direct and consistent feedback," Dorsey said of PIPs. "We want to help everyone achieve excellence here at Block," he added. "That ensures we can have a fair two-way conversation holding each of us accountable to always raising the bar," Dorsey said. Excellence in service to our customers, excellence in our craft, excellence in our respective disciplines, and excellence to each other.

Persons: Dhanji Prasanna, Dorsey, There's, doesn't, I've, Dhanji Organizations: Business, Block Locations: Fe

☆ Andrew Tate said he'd give $1M a month to Elon Musk after major companies suspended their ad campaigns on X. It's not nearly enough to help him.
▼ + stars: | 2023-11-20 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +3 min

Several large companies have pulled ads on X after Elon Musk reposted an antisemitic remark. AdvertisementAndrew Tate has stepped in to pledge funds to Elon Musk's X after antisemitism row caused several major companies to pull ads from the platform. Since returning to X, Tate seems to be earning a significant amount under Elon Musk's content-creator plan, claiming he received $20,000 during one payout. Several right-wing figures stepped in to express support for Musk, including Seth Dillon, the CEO of satirical site Babylon Bee, and commentator Tim Pool. "I will advertise X on X," he wrote on X.

Persons: Elon Musk, influencers, Andrew Tate, Tate, —, Elon Musk's, Musk, Jack Dorsey, Seth Dillon, Tim Pool, Tate —, Tristan Organizations: Service, Elon, Elon Musk's, Disney, Apple, IBM, Bloomberg, Sun Locations: Romania

☆ Ruzwana Bashir Is Quietly Connecting the Tech World
▼ + stars: | 2023-11-16 | by ( ) www.businessinsider.com time to read: +18 min

Story by Melia RussellPhotography by Lelanie FosterRuzwana Bashir is ransacking her kitchen cabinet for just the right tea. Bashir wears an Erdem floral-printed bra top, Erdem skirt, Giuseppe Zanotti shoes, Old Jewelry earrings along with her own bracelet and ring. "Part of building a business was going out and sharing what you were doing with the world," Bashir says. For years Bashir's startup had been building muscle around these capabilities; now it had an eager audience. Eating at acclaimed restaurants is fine, but Bashir prefers the more-intimate affairs at tech executives' homes because, she says, "you can stay longer."

Persons: Melia Russell, Lelanie Foster Ruzwana Bashir, Peek, She's, she's, Andy Warhol, Picasso, Bashir, I'm, Andreessen Horowitz, Jack Dorsey, Eric Schmidt, Goldman Sachs, Giuseppe Zanotti, Lelanie Foster, Bashir isn't, Elon Musk, Ronan Farrow, Roelof Botha, Mustafa Suleyman, we've, Bennett Miller, Capote, " Miller, —, doesn't, didn't, Madeleine Albright, Tom Ford, Jared Cohen, Oskar Bruening, Forbes, Mark Zuckerberg, I've, Bashir wasn't, Travis Kalanick, Adam Neumann, Ty, Emily Weiss, Bashir refashioned, Donald Trump, Bruening, Laurence Tosi's, Miller, Beyoncé, shrugs, Anna Wintour, Anna, we're, Taylor Swift, Katie Haun, Marc Benioff, Reid Hoffman, Marissa Mayer, Dick Costolo —, Cohen, Katherine Maher, Maher, Daniel Kahneman, It's, Radel, Becky Akinyode, Elaine Winter, Tiffany Bloomfield, Dela, Chad Hilliard, Enmi, Kenny Aquiles Ulloa, Cyrenae, Madison Perez, Aidan Lapp, Bashira Webb, Bryan Erickson, Jinyoung Chang, Rodriguez, Rebecca Zisser, Claire Landsbaum, Emma LeGault, Joi, Marie McKenzie, Conner Blake, Kyle Desiderio, Victoria Gracie, Nicole Forero, Virginia Alves Organizations: Google, Museum of, Business, Elon, Vogue, Roelof, Oxford University, Oxford Union, Blackstone Group, Harvard Business School, Studios, Web, Young, Organization, Dela Revoluciøn, Enmi Yang Digital Tech Locations: Manhattan, SoHo, Bahamas, United States, Balthazar, England, Israel, Petra, Istanbul, Elle, Utah, COVID, Salt Lake City, Costa Rica, Atlanta, WestCap

Earlier this month, the university said an initial inquiry found no issues with how the center managed its finances. Despite the hubbub, essentially none of the center's funders have raised public concerns about its work. But tell us how you’re going to puzzle through.”The sudden termination of the center’s research projects prompted some within the movement for racial justice to see good reason to criticize Kendi’s leadership. Kendi agreed many funders were new to racial justice philanthropy in 2020, but said they didn’t usually give to his center. Kendi said most of the center's funders already supported antiracist community organizations.

Persons: Kendi, Grantmakers, it's, Earl Lewis, Andrew W, “, “ missteps, “ There’s, ”, Lewis, It's, Jack Dorsey, Chera Reid, ” Reid, William, Larry Kramer, Reid, Kendi’s, Jenn M, Jackson, ” Jackson Organizations: Boston University, BU Center, Mellon Foundation, University of Michigan Center for Social Solutions, Associated Press, Rockefeller Foundation, ESPN, Netflix, Unity Summit, Flora Hewlett Foundation, Observers, Syracuse University, Lilly Endowment Inc, AP Locations: Los Angeles, U.S

☆ A top LGBTQ+ advocacy org is quitting X over safety concerns
▼ + stars: | 2023-11-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

Fellow civil rights organization the Human Rights Campaign in June declared a “state of emergency” for members of the LGBTQ+ community. “We have seen this rhetoric transcend politics and appear on social media platforms,” a representative for the Trevor Project told CNN. “The content we share on social media is intended to uplift and affirm LGBTQ young people, shedding light on stories to deepen the public understanding of their experiences. The company has also been attempting to convince many advertisers to resume or increase their spending on the platform despite concerns that ads could show up alongside hateful content or misinformation. CNN has reached out to X about the Trevor Project deleting its account.

Persons: Trevor, ”, Elon Musk, “, ” Musk, —, Musk, we’ve, Jack Dorsey, Linda Yaccarino Organizations: New, New York CNN, LinkedIn, Facebook, Center, Anti, Defamation League, ADL, Human, Trevor Project, CNN, Twitter Locations: New York, United States

☆ Block’s Stock Price Is Down 80%. Enter CEO Jack Dorsey.
▼ + stars: | 2023-11-04 | by ( Angel Au-Yeung | Peter Rudegeair | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Block shares soar as Street lauds strong 2024 forecast, buyback plans
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Block Inc logo is seen displayed in this illustration taken, April 10, 2023. If premarket gains hold, the company could add nearly $5 billion to its market value, based on the stock's last trading price of $51.85, according to Reuters calculations. It took some analysts by surprise as it alluded to an increased focus on keeping expenses under control. The company would create an "absolute cap on the number of people we have...held firm at 12,000 people" until gains in the business outpaced headcount growth, CEO Jack Dorsey said. Block's initial plan to repurchase $1 billion worth of shares also raised investor spirits, as Dorsey said the buybacks would offset some dilution from share-based compensation to employees.

Persons: Dado Ruvic, Block, Jack Dorsey, tsin Huang, Dorsey, Niket, Shinjini Organizations: REUTERS, PayPal Holdings, Thomson Locations: Bengaluru

☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ Jack Dorsey warns Block employees of coming job cuts: 'The growth of our company has far outpaced the growth of our business.'
▼ + stars: | 2023-11-02 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Block employees were told this week that job cuts are on the way. In a note to staff sent Wednesday and viewed by Insider, Jack Dorsey, the CEO and founder of Block, said the company's growth has not matched its number of employees. Headcount will not go above 12,000 people "until we feel the growth of the business has meaningfully outpaced the growth of the company," the letter said. See the full note Dorsey sent to staff:As I said in my note to Block, the growth of our company has far outpaced the growth of our business and revenue. And Square's number of people has far outpaced our growth and performance.

Persons: Jack Dorsey, Block, Dorsey, Headcount Organizations: Block, . Staff, Securities and Exchange Commission

☆ Block shares surge after earnings beat and increased full-year guidance
▼ + stars: | 2023-11-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The company had previously guided to $1.5 billion in full-year adjusted EBITDA but now expects adjusted EBITDA to come in between $1.66 billion and $1.68 billion. Block is guiding to adjusted full-year operating income of $205 million to $225 million, a sharp increase from prior guidance of $25 million. Analysts surveyed by LSEG had expected full-year revenue guidance to come in at $21.54 billion. The company didn't provide full-year revenue guidance but did guide to $875 million in adjusted operating income for 2024. Cash App revenue soared $3.58 billion 34% year over year, while Square revenue grew 12% to $1.98 billion.

Persons: Jack Dorsey, LSEG, Block, Gross, we've, Dorsey Organizations: Twitter, Mana Convention, Cash Locations: Wynwood, Miami , Florida

☆ Universal basic income is working — even in red states
▼ + stars: | 2023-10-29 | by ( Michael Venutolo-Mantovani | ) www.businessinsider.com time to read: +14 min

He encourages skeptical taxpayers to look at universal basic income from the same "selfish point of view." Among those who received a basic income in Stockton, California, the unemployment rate dropped by nearly 50%. With more data at hand than theoretical projection, the evidence is overwhelming: Universal basic income is working nearly universally. Promising as these pilot programs are, the chances of a truly universal basic income in America remain remote. As for Tydricka Lewis, basic income afforded her the latitude to start her own nonprofit.

Persons: Tydricka Lewis, she'd, Lewis, North Carolina's, Jack Dorsey, Durham, Dorsey, Mark, Anthony Middleton, Middleton's, it's, Thomas Paine, Huey Long, George McGovern, Andrew Yang, Anna Jefferson, Nick Otto, Jefferson, Middleton, StepUp, UBI, we've, Michael Venutolo, Condé Organizations: North Carolina Central University , Durham, Abt Associates, University of Pennsylvania, Durham's, Excel, KFC, Generation Movement, Durham Bulls, The New York Times, National Geographic, Wired Locations: Durham, North, America, Black, New York City, Denver, Stockton , California, Los Angeles, Baltimore, Columbia, South Carolina, Birmingham , Alabama, Gainesville , Florida, Florida, Gainesville, AFP, Durham County, Washington, Chapel Hill , North Carolina

☆ Elon Musk's next headache after Tesla's earnings flop could be users ditching X over Israel-Hamas misinformation, Nobel economist Paul Krugman says
▼ + stars: | 2023-10-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk, already reeling after Tesla's earnings flop, could see X users ditch his platform. Israel-Hamas misinformation might be a "tipping point" for the social-media site, Paul Krugman says. The Nobel laureate expects X users to start leaving for rival platforms like Threads and Bluesky. AdvertisementAdvertisementElon Musk is already reeling after Tesla's earnings miss slashed its stock price by 9% on Thursday. Things could go from bad to worse for the tech billionaire, as the spread of misinformation about the war between Israel and Hamas could drive people away from his X platform, according to Paul Krugman.

Persons: Elon Musk, Paul Krugman, —, Krugman, Jack Dorsey, Sander van der Linden, Musk Organizations: Service, European Union, New York Times, Meta Locations: Israel

☆ The Israel-Hamas war shows how social media has given up on facts
▼ + stars: | 2023-10-18 | by ( Kali Hays | ) www.businessinsider.com time to read: +9 min

The Israel-Hamas war shows how social media platforms no longer want to deal with the news. AdvertisementAdvertisementNot too long ago, social media was the future of news. To accompany this flow of verified information, Facebook, Twitter and other social media companies built large content moderation teams and partnerships. Reading these, it's easy to see how social media can divide people during difficult times. The social media account posed as a BBC journalist to share this misinformation for engagement.

Persons: —, Jack Dorsey, Mark Zuckerberg, Elon Musk's, Adam Mosseri, Karan Singhal, Singhal, there's, Cristiano Ronaldo, Marcus Hutchins, Mosseri, we're, Andy Stone, Zuckerberg, Alex Stamos, TikTok Organizations: Service, Facebook, Twitter, Elon Musk's Twitter, CNBC, BBC, Palestinian, Meta Locations: Israel, Moroccan, Israeli, Syria, Meta, France, Germany, Canada

☆ Twitter illegally fired a worker who pushed back at Elon Musk's RTO demands, says NLRB
▼ + stars: | 2023-10-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Elon Musk's X has been accused of breaking federal law for firing an employee who complained about return-to-office mandates. Five days later she was fired for breaking an unspecified company policy. AdvertisementAdvertisementTwitter illegally fired an employee who complained about Elon Musk's return-to-office mandates, the National Labor Relations Board said. AdvertisementAdvertisementThe complaint says that Yao Yue, a principal software engineer, criticized Musk's policy, tweeting "don't resign, let him fire you," and posting "don't be fired. Yue was then fired five days later in November, with the only explanation given was that she'd violated an unspecified company policy.

Persons: Elon Musk's, Yao Yue, —, didn't, Musk, Slack, Yue, I’m, witter Organizations: Service, Twitter, National Labor Relations Board, NLRB, X, CNBC, ue 岳峣, EO Locations: usk

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