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Jack Dorsey was brutally honest about Twitter's dire state in his first earnings call
(Periscope)
Anthony Noto and Jack Dorsey on the company's Periscope call
Interim Twitter CEO Jack Dorsey just started his first company earnings call with some brutal honesty.
Twitter's results been "unacceptable" and he's "not happy about it," Dorsey said on the call, which was broadcast on Periscope, the live-streaming service Twitter bought earlier this year.
Dorsey then outlined three things that he said that Twitter needed to do to fix the company and the product.
Moving forward, he said that Twitter needs to:
1. Ensure a more disciplined product execution
2. Simplify the service to deliver Twitter's value faster
3. Better communicate the company's value
Dorsey said that the company needs to be faster and bolder in its product execution, and make it more obvious for new users why Twitter can be valuable for them.
"We continue to question a reverse chronological timeline," he said.
He then outlined how Twitter should ideally be viewed:
"You should expect Twitter to be as easy as looking out the window to see what’s happened," he said. The site should be meaningful to the world, and bring you all the news you need, "delivered first and straight from the source."
"We need to be not just window to the world, but the best microphone in the world, too," Dorsey said. Then continued: "If we meet these expectations — and we will — twitter will be the first thing everyone checks at the beginning of the day."
Although the honesty was refreshing, it sent the stock plunging about 6% during the call, despite the fact that Twitter beat expectations on both the top and bottom line.
"In closing, I’ve never been more sure about the value that Twitter brings to people and our world," Dorsey said at the end of the call.
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