In the summer of last year, I bumped into Jack Dorsey at Sun Valley and asked the then-interim Twitter CEO what made him confident he could run both Twitter and Square at the same time.
He had two words: Bob Iger.
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So to all those companies pondering a price at which they would do a deal remember this: Companies aren’t for sale when they are on the cusp of big breakthroughs. They’re for sale when they are playing their last cards.
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