Jack Dorsey will not soon surrender his title as the King of Silicon Valley Cognitive Dissonnance...
Twitter Inc. reported revenue and user growth that beat expectations, helping the company make a case for staying independent as it seeks to restore growth.
To reach a goal of profitability by 2017, Twitter is eliminating 9 percent of its workforce, or about 350 people, it said in a statement Thursday. Third-quarter revenue increased 8 percent to $616 million. While that beat analysts’ forecasts for $605 million, it’s still a marked difference from last year’s 58 percent growth. The company reported 317 million monthly active users, beating analysts’ average estimate of 315 million.
Twitter killed it this quarter despite being publicly shamed by a sales process that left it looking like a 7-foot-tall girl at a 3rd Grade dance, and a plummeting stock price that made it hard to, like, employ so many people. But Jack is all about that video life kids, so he needs to get lean to move and monetize all his video tools. Like he has that very popular Vine app just sitting there...
What's that you say? Vine just published a post on Medium? Ruh roh.
Since 2013, millions of people have turned to Vine to laugh at loops and see creativity unfold. Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app.
Now either Jack is still re-arranging the deck chairs on his personal Titanic or he's taking a page from the Elon Musk playbook and making Vine just worthless enough to be bought cheap by Square.
Either way, he's probably got us all right where he wants us.