It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes when you’ve been in the job for more than five years tends to prompt skeptical questions. But in this case, investors seem to be willing to give Dorsey the benefit of the doubt. In what was a bit of a bloodbath on Wall Street today, Twitter was one of the few stocks going up after its big investor presentation.
Then again, investors are easily impressed, particularly when companies put on a show and give them the chance to talk directly to management. And Dorsey was upfront about his failings, acknowledging “we haven’t been innovative.” His message was one of change. Twitter has plans for some new features, such as tipping and a “super follow” subscription that would let users pay for extra content from certain people. With this, and by steadily increasing user numbers, Twitter promises to double annual revenue to $7.5 billion by 2023.