Interesting

TIL about @jack :

1. He is a programmer first, an impresario second.

2. This year Twitter will do $290 million in ad revenue and Square will do $220 million in transaction revenue.

3. His reported 3% stake in Twitter is worth $240 million. FORBES values his 26.4% share of Square at $845 million.

4. He dropped out of college twice.

5. On serendipity: "I spend 90% of my time with people who don’t report to me, which also allows for serendipity, since I’m walking around the office all the time. You don’t have to schedule serendipity. It just happens."

6. On ideas: “The most efficient means to spread an idea today is a corporate structure; 200 years ago it was probably something different; 100 years from now it will be something completely different. But all of that is in service of the idea.”

@jack's weekly cadence:

– Monday, he says, is for addressing management issues;

– Tuesday he focuses on product engineering and design;

– Wednesday Dorsey zeros in on marketing and communications, and growth;

– Thursday he holds meetings with outside partners and developers;

– Friday is about “company and culture” and recruiting;

– Saturday he takes off; in particular he likes to hike;

– Sunday Dorsey thinks about strategy and conducts job interviews.

Dorsey “looked at how money could be a lot more functional,” says Vinod Khosla, the venture capitalist, who invested in Square’s Series A round a few years ago. “That’s a different question than the one PayPal is asking. It’s a more fundamental question: What can you do for the users of money?”

Square is not just about transactions. Dorsey wants to help retailers run their businesses more efficiently by giving them better data–and getting closer to their customers. A service called Square Register turns a mobile device or tablet into a point-of-sale system and provides inventory management, customer tracking, business analytics and the like. The next innovation, Square Wallet, lets you buy things without having to swipe a card; you can even pay hands free at certain businesses (including Starbucks, which is an investor and partner), using localization technology that tells a store you’re there. Square Wallet also allows retailers to build in rewards programs.