Block CEO: Twitter Evolution, Bitcoin and Digital Freedom
Feb 12, 2025
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Jack Dorsey, co-founder of Twitter and CEO of Block, dives into the origins and evolution of social media. He emphasizes the need for user agency and advocates for open protocols like Bitcoin to navigate fragmented regulations. Dorsey shares personal experiences with entrepreneurship, highlighting lessons learned from rejection. He also explores transformative meditation practices and offers insights on effective learning strategies across diverse subjects. Tune in for a fascinating look at the intersection of technology, finance, and personal growth.
Jack Dorsey emphasizes the importance of user co-creation in social media, which transformed Twitter into a platform for authentic dialogue and connection.
Dorsey advocates for a decentralized social media future using open protocols to enhance transparency, empower users, and reduce centralized bias.
Deep dives
The Birth of Twitter from Personal Curiosity
The idea for Twitter originated from Jack Dorsey's childhood fascination with city maps and the movement of people within urban spaces. Dorsey's interest in programming began when he wanted to create visual maps on the computer, which eventually led to a career in dispatching services. After years of exploration and technological advancements, he saw a gap in how people interacted with the world, which inspired him to visualize people's thoughts and actions in real time. This culminated in the birth of Twitter in 2006, originally developed during a hack week at a podcasting company, where Dorsey and a programmer quickly built a prototype that resonated with users.
Understanding User Interaction and Co-Creation
Dorsey discovered that Twitter was more than just a tool for personal updates; it became a platform for conversation and interaction. Users engaged in dialogue by developing new features like mentions, hashtags, and retweets, which were not initially envisioned by the creators. This co-creation with users highlighted a fundamental aspect of Twitter: people wanted to participate and contribute rather than just consume content. As the platform evolved, Dorsey realized the importance of listening to user feedback to better meet their needs and expectations.
The Impact of Social Media on Public Discourse
Dorsey reflected on how social media, particularly Twitter, transformed public communication, especially during significant events like the election of Barack Obama. The immediacy of tweets connected the public with lawmakers and brought transparency to governmental proceedings, breaking through traditional media barriers. This shift demonstrated the power of unfiltered, real-time information directly from individuals rather than through mediated channels. As more people turned to Twitter for authenticity and direct interaction, its political relevance grew, fundamentally changing how information flows in society.
The Shift Towards Decentralization and Protocols
Dorsey expressed a vision for a decentralized future of social media, where platforms operate on shared protocols rather than being controlled by single entities. This idea led to the creation of Blue Sky, aiming to allow different companies to build on a common foundation for social media interactions. He contrasted this with existing models that centralize power within corporations, which can lead to content bias and restrictions. By embracing an open and decentralized approach to social media and finance, Dorsey believes it is possible to empower users, enhance transparency, and encourage organic growth within the digital landscape.
In this episode of In Good Company, Nicolai Tangen sits down with tech pioneer Jack Dorsey to explore the evolution of social media and the future of digital finance. The co-founder of Twitter (now X) and Block shares his insights into how Twitter emerged, why he believes open protocols are crucial for social media's future, and his vision for Bitcoin as the Internet's native currency. Dorsey discusses his entrepreneurial philosophy and the importance of algorithmic choice in technology. What would social media look like if Bitcoin had existed when Twitter started? Tune in for a fascinating discussion where technology, money, and personal development come together.
In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday.
The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Sara Arnesen.