“THE COMPANY IS ready to move on from its founders,” explained Jack Dorsey, chief executive of Twitter, a distributor of short messages, as he announced on November 29th that he would step down and hand the reins to the firm’s chief technology officer, Parag Agrawal. “About time,” was the grumpy reaction of more than one stockmarket analyst, many of whom had long criticised Mr Dorsey for spreading himself too thinly by running both Twitter and Square, a fast-growing fintech company which he will continue to head. (The chairman of The Economist’s parent company is a director of Square.)
Yet the timing makes sense. Over the past several years Mr Dorsey
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