Jack Dorsey ended 2017 reveling in the spiritual afterglow of being consciously silent for 10 straight days. The Twitter CEO used his own platform to tell the world how much he gained from days of keeping his trap shut as part of the tech-hip Vipassana meditation technique, and appeared psych to take his newly-focused, enlightened mind into 2018.
Well, the new year has just delivered some great news for good old Jack; Twitter stock has attracted some attention from a major investor who would love to see Dorsey spending even more time shutting the fuck up.
That's right, you guys, according to his newest Greenlight Capital investor letter, David Einhorn is a Twitter shareholder! And like any new Greenlight position, Twitter intrigues Einhorn because of how much he thinks it kind of sucks and the upside inherent to that suckiness.
We initiated a small position in Twitter (TWTR) at an average of $21.59. Despite a massive user base and broad reach, TWTR has an enterprise value of about 2% of Facebook, the largest social media platform. New management improved the TWTR user experience, which led to rapid growth in number of users and time spent on TWTR in 2017. As a result, we believe TWTR will have a pitch to advertisers in 2018, which should lead to revenue growth.
Unlike Jack, D-Hornz spent the later parts of 2017 yelling himself hoarse at a universe that just wouldn't listen to his better ideas. He can now spend the next few weeks practicing up on a company that he can casually dominate and simultaneously provides him with a platform to air his grievances.
We are going to enjoy watching this play out.