Dorsey Returns Shares Back to Square

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Dec. 20 (Bloomberg) –- Bloomberg Contributing Editor David Kirkpatrick discusses the possible reasons why Jack Dorsey returned 10% of his shares back to Square with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

Returning 10% up the shares back to the company which means employees will get their hands on a greater he's a beep high.

What would -- why would dorsey be doing this -- get their hands on a greater piece of the pie.

-- why would dorsey be doing this?

Why is he doing this?

Them post-up thing to say is because he does not care about money as much as other people.

He is a high-minded person.

I think what it is really about is jack is better at a long-term thinking that a lot of his peers out there.

He is basically thinking a smaller piece of a bigger pot is probably -- pie is probably more in the long run.

He is not just a money oriented guy.

He was to show how much he cares about the employees.

He is thinking out-of-the-box kind of guy.

He is not your typical conventional wisdom silicon valley type.

He also, to be fair made a lot of money on the twitter ipo.

You never saw mark zuckerberg to do something like this.

He had maintained majority control in the company.

What is different?

Mark is more obsessed with control and jack is.

That is partly the cause of the influence of sean who had influence taken away.

When he came in with the zuckerberg he convinced him to not let them take this away, keep control.

That is how he restructured the company.

Jack is more secure and more folks are doing cool things.

He is able to basically do a lot without having that control.

He'll still the early percent of the company.

Jack -- he will still have 30% of the company.

-- jack wants to make a statement.

The statement is is about other things.

Not how many o's are behind the $. he probably has more than $2 billion anyway.

It is not like $100 million is going to make that much difference.

The contradiction, zuckerberg has done and things like this even this week.

A lot of publicity for selling a lot of stock.

He gained a billion dollars of facebook stock to charity.

He is given a lot of other money to charity.

It is not that fundamentally different.

Jack is going back to his company to reinvest.

Reinvest in the community to give a $1 billion to silicon valley foundation.

If you read the book, jack comes off as being worried about losing the troll of twitter.

-- losing control of twitter.

Not a very flattering portrait.

Do you think you try to change that?

I think he feels it was an accurate portrayal.

I am quite certain he feels that.

I do not think that is what motivates him with a move like this today.

I do think it was an accurate portrayal.

He is a more creative thinker than most people and maybe give him credit for.

He never made any bones about thinking he did a bad job as ceo when he was at twitter like the books that.

The book acts like he believed he was better than the other cofounders.

That is not the filling i have ever gotten from talking to help.

I have spoken to jack at a length.

His philanthropy as well.

Does this give you any cause for concern if squares have trouble recruiting?

But no, i think it's quite the opposite.

Square is doing so will i want to reinvest and show my commitment to the company and the employees.

It's a very powerful move.

It would not surprise me if others emulate it.

On twitter, there is talk about more people should do this.

This kind of high-profile act is probably going to generate some thinking on the part of his peers who run companies.

This text has been automatically generated. It may not be 100% accurate.


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