On a wild day when investors couldn't figure out whether they loved or hated
At least for now. But during a blunt earnings conference call also broadcast on Twitter's Periscope app, Dorsey sounded as if he'd really like to do the job much longer.
Dorsey, the temporary Twitter CEO who's also CEO of soon-to-go-public Square, isn't expected to get the permanent nod for the top job. Current speculation centers mostly on two people. One is Adam Bain, president of global revenue and partnerships, who can boast a better-than-expected performance on the advertising revenue front this past quarter as well as the undying love of the entire ad industry. The other is fast-rising Chief Financial Officer Anthony Noto.
Nonetheless, Dorsey sure sounded like an owner, not just a temporarily returning cofounder, throughout the earnings call. Plainly laying out how recent user growth initiatives haven't worked, he said, "This is unacceptable and we’re not happy about it."
That comment aside, he often used "I" rather than the usual "we" to indicate what Twitter needs and plans to do in order to fix the various issues that have slowed Twitter's user growth, which is the key reason investors quickly knocked its share down more than 11% in extended trading after an initial 5% bump. Indeed, according to a number of accounts, most recently a piece by Recode's Kara Swisher, Dorsey really wants the job, even if it seems impossible to everyone but Dorsey that anyone could be CEO of two very busy companies at the same time for very long.
Dorsey sounded pretty convincing on the vision thing as well, a key area where former CEO Dick Costolo was seen as lacking. Twitter, he said, should be "as easy as looking out your window to see what’s happening," before anyone else, straight from the source, and updated throughout the day. He also said it has to continue to be "the most powerful microphone in the world." If the company succeeds, he said, "Twitter will be the first place people turn to see what’s happening today."
Even more to the point, he sounded like he's firmly taking the reins, outlining a number of moves that normally would be up to someone who's going to stick around in a top operating role for a long time to come. In particular, he said he is "entirely focused on building the best team," meaning an executive team. Problem is, a new CEO, especially in the continuing possibility of an outside candidate, usually wants to form her own team. If Dorsey's mainly forming that team, what sort of CEO besides the two execs often mentioned is going to take that job?
More than that, Dorsey outlined reasonably specific steps Twitter will take to restore user growth. Although those steps, such as improving the user experience and communicating why people should want to use Twitter, have been laid out generally before, Dorsey displayed a firm grasp of both their importance and his intention to make them happen. His intention, not "our" intention or the board's intention.
Perhaps we shouldn't read too much into his almost brutally honest assessment of Twitter and where it needs to go. He and everyone else at Twitter realizes they need to lay it out for investors, in particular the great amount of work and time needed to turn Twitter's growth around. That doesn't mean Dorsey will be the one to carry it all out.
But whatever title Dorsey ends up with, it's clear that he intends to drive Twitter's future. "I’ve never been more sure of the value Twitter brings to our world," he said at the close of the earnings call. And, it seems, never more sure that he's the guy to prove it.
